New hope for cryptocurrency adoption in <a href="https://www.cryptoknowmics.com/crypto/indian-congressman-aspires-the-crypto-community-once-again/">India</a> is sprouting up as South Korea's top cryptocurrencies exchange Bithumb plans to launch in India. Despite the hard times for cryptocurrency enthusiasts in the country, the exchange showed interest in venturing into the Indian market.

According to a <a href="https://www.prnewswire.com/news-releases/bithumb-global-launches-in-india-300923104.html">press release</a>, Bithumb's expansion to India is hoped to open up potentials for crypto within the country. Despite the ban on digital currencies by the Reserve Bank of India (RBI), prohibiting the changing of INR to crypto and vice versa.

Bithumb's move to the Indian borders means significant progress for the residents who hold a digital asset in the country. Also, to the crypto community at large, the Bithumb's development possibly reassures hope for massive adoption.
<h2>Bithumb Holds Significant Opportunity for India</h2>
Interestingly, the Bithumb aims at helping India reach a 5 trillion USD economy by 2020, by creating a platform for the 6 million Indian digital asset investors to trade as well as trade cryptos, under advanced privacy, and security measures.

As per the press release, new users will onboard into the Bithumb trading platform on a sign-up incentive strategy. New customers who sign up to Bithumb stands to gain a 10 USD (700 INR) after completing the 1st step of Know-Your-Customer (KYC) [email verification].

"This step of Bithumb Global boarding India is a step closer to bringing the blockchain revolution to over a billion people. The team seems extremely excited to take off on this decentralized journey in a country of such diversity," the PR reads.

Apart from the incentive strategy, Bithumb further provides an open opportunity for the Indian exchanges to become their official partners. This grants them a good liquidity base to grow, amid Bithumb's high volume of order book sharing, and top tokens.

While the India government is yet to signal for the massive participation of Indians digital assets holders with cryptos, the National Association of Software and Services Companies (Nasscom) already showed dismay on the proposal to ban digital currency in India.

NASSCOM called on the government to instead design a framework to "regulate and monitor cryptocurrencies and tokens.

South Korea Crypto Exchange Bithumb Unveils Plan to Launch in India

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

South Korea Crypto Exchange Bithumb Unveils Plan to Launch in India

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