Polish Bitcoin Exchange BitBay Sails In Indian Subsoil
BitBay, a cryptocurrency exchanging and trading platform based out of Poland has zeroed on India for outsourcing IT talent and expanding its business by surpassing geographical boundaries. With Indian market being placed fourth in the world of cryptocurrencies, BitBay has found its ultimate anchoring spot for proceeding with regulation bound growth. Bitbay want’s to rope in the advantages associated with brand new technological innovations facilitating withdrawals and deposits in association with banks and also bringing forward tax regulation in the cryptocurrency operations by ushering in government backing.
The trial mode of BitBay’s trading platform in India opened on 14th August with the main show scheduled for 24th August.
Rohit Dahda, the India head of BitBay opened the platform for everybody provided they fill in mandatory KYC requirements in the form of PAN Card and Aadhaar related information. BitBay India having a headcount of 10 wishes to multiply the same by five times within the year end. Cryptocurrencies are slowly gaining acceptance as a secure alternative of government issued currencies. It is a piece of code which derives its value from various encryption techniques. Here the authentication is decentralized unlike centralized or government authority with all transactions recorded permanently in a public ledger.
According to Chafik Abdellaoui, the Chief Information Officer at BitBay, the cryptocurrency exchange in India would start it’s operations with the following currencies:
->And Gamecredits .
Bitbay will later add more cryptocurrencies like Zcash, Ripple, etc and claims to list more than Twenty cryptocurrencies which can be exchange in INR.
The company is also planning to setup a physical point for its customers to contact. BitBay having more than 2,00,000 registered users is ranked amongst the top 10 platforms trading in digital currency globally. Its dominance in Central Europe where BitBay holds 60% of the market share helps a lot in gaining and maintaining its global top slot. India with its best customer authentication infrastructure is expected to help BitBay pave its success story in a wider scale.
In Poland, BitBay issues Blockchain powered debit cards which can be used for paying store bills and withdrawing regular ATM currency. Presently this exchange trading platform is available only over web but plans to roll forward an application pretty soon to facilitate cryptocurrency powered offline payments.
For more information and demo use, visit Bitbay’s official Indian website.
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