Poland-based online cryptocurrency trading platform BitBay has now expanded its operations to India through its Indian version -www.bitbay.in. BitBay is one of the top 10 crypto currency trading platforms in the world with over 2,00,000 users. The ranking comes largely from its dominance in central Europe where it has a 60% market share. Reports suggests that BitBay’s India trading platform has already been started in the demo mode, but will become operational by September 2017.
Our focus is to grow with regulation. The Indian market is the fourth largest for cryptocurrencies. On one side we want to work closer with banks so that the new technology is adopted and deposits and withdrawals are facilitated. On the other, we want to work with the government to make it a regulated business subjected to tax. ~ Chafik Abdellaoui, CIO, BitBay
In India, the exchange will initially allow trading in 9 different types of digital currencies as shown below, which will later be extended to 17. The main objective of the company would be to educate people and remove misconceptions about cryptocurrency. This will help the company to drive more people towards its use and offer an all-round platform to trade as well as exchange multiple currencies on BitBay.
Any Indian can trade on the platform, provided they complete the full ‘know-your-customer’ requirements by providing Aadhaar and PAN card number. BitBay India already has a headcount of 10, which will be increased to 50 by the end of the year.~ Rhoit Dahda, India Operations Head.
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| Coins supported By BitBay India |
5 Reasons For You To Start Crypto Account With BitBay India
1. Single Account Many Coins
Though India based exchanges like Zebpay, Unocoin, and Coinsecure have been there for a while providing a platform for trading bitcoin but they have not yet introduced various altcoins like ethereum, ripple, dash etc. on their platforms.This has become a hinderance for active cryptocoin traders. Once bitbay india becomes live, traders and investors can use its single account to trade multiple crypto currencies
2. Best In Class Trading Platform
Bitbay India comes with huge experience in crypto market by serving European clients. BitBay platform is the number one in Eastern-Central Europe with more than 200,000 users and with the 10th position worldwide. It has a reliable and trustworthy platform, operating since 2014. I believe the backend services of BitBay India will be similar to its European version and we Indians can enjoy and effortless trade. Currently the trading platform is in demo mode but you can complete the registration process. It seems they are working hard to complete the "know your customer" module to align with Indian regulations.
3. USD, EURO Integration
Bitbay India would be a great platform for Indians outside to trade and invest in crypto currencies. Once the regulations are in place, I am hopeful that investors can convert their cryptos to the fiat curreny they want according to the rule of the land.
4. High-Level Security Standards
Bitbay has powerful, dedicated servers and advanced encryption used to protect databases, wallets and backups work for the best security there can be. All cryptocurrencies are kept on “cold wallets” to protect them from theft. Each user can also use a handful of security tools to protect their account – for example, 2-factor authentication or e-mail confirmations.
5. Support Huge Traffic
Indian crypto lovers are really pissed of by many Indian players like btxIndia, ethexIndia etc where they have stoped the registration due to huge traffic. I believe the IT infrastructure of BitBay India would be really scalable compared to the current players.
Though India based exchanges like Zebpay, Unocoin, and Coinsecure have been there for a while providing a platform for trading bitcoin but they have not yet introduced various altcoins like ethereum, ripple, dash etc. on their platforms.This has become a hinderance for active cryptocoin traders. Once bitbay india becomes live, traders and investors can use its single account to trade multiple crypto currencies
2. Best In Class Trading Platform
Bitbay India comes with huge experience in crypto market by serving European clients. BitBay platform is the number one in Eastern-Central Europe with more than 200,000 users and with the 10th position worldwide. It has a reliable and trustworthy platform, operating since 2014. I believe the backend services of BitBay India will be similar to its European version and we Indians can enjoy and effortless trade. Currently the trading platform is in demo mode but you can complete the registration process. It seems they are working hard to complete the "know your customer" module to align with Indian regulations.
3. USD, EURO Integration
Bitbay India would be a great platform for Indians outside to trade and invest in crypto currencies. Once the regulations are in place, I am hopeful that investors can convert their cryptos to the fiat curreny they want according to the rule of the land.
4. High-Level Security Standards
Bitbay has powerful, dedicated servers and advanced encryption used to protect databases, wallets and backups work for the best security there can be. All cryptocurrencies are kept on “cold wallets” to protect them from theft. Each user can also use a handful of security tools to protect their account – for example, 2-factor authentication or e-mail confirmations.
5. Support Huge Traffic
Indian crypto lovers are really pissed of by many Indian players like btxIndia, ethexIndia etc where they have stoped the registration due to huge traffic. I believe the IT infrastructure of BitBay India would be really scalable compared to the current players.
How to Register In BitBay India
The registration and login process are pretty simple. Follow below screenshots to complete the registration process
1. Click on this link. Register Your Bitbay India Account. Click on Register Button
2. Enter your email address, select the checkbox and click register.
3. You will receive an email from Bitbay India to activate the account as below. Click on the button.
4. Complete the registration process as below. Please select the curreny as INR.
I am eagerly waiting for BitBay India to be fully operational as currently I am stuck with "one account one coin" concept of Indian players. Crypto space gives lot of short term and positional trades and calculated risks can give you huge risk. Why waiting, join the crypto world with a small amount of money and start understanding it.
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