Saturday, October 1, 2022

Singapore-Based Bitxmi Expand Its Operation To India

Indian crypto industry needs to get regulated so that more and more traders/investors in the country, especially in small-town areas, could enjoy its benefits, said Sanjay Jain, the CEO of one of the leading crypto exchanges Bitxmi.

According to the report, in this 21st century, cryptocurrencies and NFTs are considered to be the most important asset class. In India, over 1 million Indians own more than $1.5 billion worth of crypto assets.

After suffering a loss in April, Bitcoin has now starting to recover and once again, crossed the mark of $52,000. Currently, the world’s largest cryptocurrency has been trading bullish green with a market capitalization of more than $80.9 trillion.

Recently, during an interview, Jain said, “We are ready with the government’s move on the cryptocurrency bill and hope that cryptocurrencies will not only be played by mainstream investors or traders but also to those who to masses who have an inclination to try crypto and NFTs. We have our own established self-regulatory code of conduct for our users.”

He further stated, “With increased internet access in a mobile-first country, people in India can start trading seamlessly with ease as no bank account is required. The settlement period is seamless, easier, 24/7 and faster with crypto.”

The CEO of Bitxmi believes that the smaller towns and villages of India are appearing to be active traders/investors of these asset classes. The research says that the adoption of cryptocurrency in tier two and tier three cities are growing tremendously. 

Jain, in his interview, added, “Crypto has huge potential to remove the financial barriers for small towns of India and provide faster and cheaper access to money with more online jobs.”

In today’s time, cryptos and NFTs have become very popular around the world. People are not only investing in it but also have started using it as a mode of payment. Several brands, globally, are now accepting it in a form of payments. 

Singapore-based crypto exchange, Bitxmi, which already is popular in several countrie, is now expanding its operation to India. The crypto exchange has announced to offer crypto and NFT services in the country. 

The NFT marketplace introduced by Bitxmi does not charge any transaction fees for selling creatives, gold or diamond by minting NFT.

Bitxmi, in its announcement, has also mentioned that the platform is designed in such a way that any non-technical trader or investor could use it. The exchange also claims to be a secured platform.

It stated, “Our exchange incorporates numerous safety and security measures to safeguard our users from bad encounters. We hope to empower people with the stable, seamless and secured platform for their great experience in crypto and NFT world.”

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