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India's First Crypto Currency Exchange Launched


India's First Crypto Currency Exchange Launched

Billdesk, a Mumbai-based payment gateway, has launched India's first crypto-currency exchange ‘Coinome’. Incorporated under Hatio Innovations Pvt. Ltd., a wholly owned subsidiary of BillDesk, the exchange is expected to support around 20 mainstream crypto-currencies by next year.

 The digital currency exchange will allow users to be on-boarded via Instant e-KYC to begin trading in virtual currency immediately after signing in. The users can make instant deposits using payment gateway or instant withdrawals, even on weekends or business holidays.

 As of now, there is no transaction fee on the deposits, although the users would have to pay 0.001 Bitcoins as the fee for the withdrawal of Bitcoin (BTC) or Bitcoin Cash (BCH). The minimum limit per transaction for the deposit and withdrawal of Indian Rupees to bank accounts is INR 1000, but there are no limits as such for Bitcoin and Bitcoin Cash.

 The minimum a user can withdraw is INR 1000.0, 0.002 BTC and 0.002 BCH for Indian Rupees, Bitcoin and Bitcoin Cash respectively. On the other hand, the maximum that a user can withdraw is 200000.0, 10 BTC and 10 BCH.

 Headquartered in Mumbai, Coinome seeks to provide Indian users with a secure and convenient means for buying or selling crypto-currencies such as Bitcoin, said Vivek Steve Francis, CEO of Coinome. Further, he added that the platform also wants to help users with commercially viable alternatives for building their digital assets.

 BillDesk’s is one of the leading names in online payments in India and their expertise in the sphere will support Coinome to promote cryptocurrencies as a workable avenue for investments, transactions, and building digital assets.

 Srinivasu MN, Co-founder, and director of BillDesk expressed long-term commitment towards crypto currency space also acknowledging the rapid advancements in Blockchain. He also stated that digital currencies are going to be powering transactions in the future and are most likely to change the way consumers and organisations interact and transact with one another.

 

Among other features, Coinome offers optimum price discovery to the users.