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In what can unarguably pass as restoring hope to India’s crypto investors, the South Korean crypto exchange Bithumb has decided to plant one of its branches in the country.
Bithumb, which is currently one of the biggest South Korean crypto exchanges, took a leap of faith and is headed to India to further strengthen the Indian crypto ecosystem.
India’s crypto community has been in the news lately, following a proposed anti-crypto bill. According to the bill, anyone caught in possession of virtual currency of any sort – whether holding, selling, buying, transferring, or aiding the trade of crypto – would be at risk of up to 10 years imprisonment.
Although the bill sounds outrageous – and people familiar with the matter believe it will definitely be amended before being passed as law – the Indian crypto community is yet disturbed about what the future holds for them.
We can all agree that the arrival of a crypto asset exchange as big as Bithumb somehow brings a little ray of hope to crypto investors and users in India.
Besides establishing a physical location in the country, the South Korean big shot also paved the way for Indian crypto investors to be a part of its Global Partner Program. Leveraging this program, India’s retail traders can rest assured that they have unlocked the door to another possibility of investment.
To make things even more juicy, Bithumb is giving out $10 to every Indian crypto user who signs up during this promotion window. That’s a total of 709.82 Indian Rupee (INR) – just for signing up. You can do that now at the official sign up page.
While the aim of entering India’s crypto ecosystem is to further strengthen it, we can’t refute the fact that this will also benefit the entire economy. To help grow the crypto ecosystem down in India, the crypto exchange also revealed it will roll out a slew of community activities, including meetups and startup support.
Headquartered in Korea, Bithumb boasts one of the largest crypto platforms in the region. With a total of 10 million active registered traders and a combined transaction volume of over 1 trillion USD, the crypto exchange can easily pass as the most popular exchange in Korea. Current statistics show that the firm comfortably holds about 59.19% of the entire Korean Bitcoin market, while also accounting for 15% of Bitcoin’s global market.