OKEx rolls out P2P trading platform in India

Wednesday 5 August 2020 11:54 CET | News

Crypto exchange OKEx has announced the launch of a peer-to-peer trading platform in India, allowing users to buy cryptocurrencies with INR without fees.

At the same time, a campaign with a 30,000 USDT prize pool will take place. By trading on the P2P platform, referring friends, posting on social media, and answering the daily quiz, participants can gain points, which is a voucher for the corresponding prize pool share. The OKEx P2P trading platform now offers Bitcoin and USDT pairs for INR, with more coins becoming available soon. In addition to this, users can also use payment methods such as UPI, IMPS, NEFT, etc., according to the official press release.

Among India’s population of 1.3 billion, currently an estimated 5 million people own digital currencies, with opportunity for growth in the short term. The lifting of a cryptocurrency ban by the Reserve Bank of India on March 4 2020 led to a shift in momentum for the Indian market, with volumes on local exchanges rebounding across the board after stagnant few months. According to data from CoinDCX, an OKEx partner, the BTC/INR trading volume increased by 1031.4% month-on-month after the ban lifted in March 2020 and maintained a growth rate of more than 100% in April 2020.

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Keywords: OKex, P2P trading, trading platform, India, peer to peer trading, cryptocurrency, INR, fees, Bitcoin, USDT, UPI, IMPS, NEFT, digital currencies, Reserve Bank of India, bank lift, local exchanges, CoinDCX
Categories: DeFi & Crypto & Web3
Countries: India
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DeFi & Crypto & Web3