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With its price surging exponentially, Bitcoin’s comparison with Gold is outdated.Bitcoin is limited , so is ‘Margarita, the Benjamin’ with a composition of a special Cuvee of Grand Marnier, finished with Louis XIII Cognac.As demand is catching up, the nine-year-old Bitcoin is already priced on par with 42-year-aged Glenfiddich single malt scotch, and will perhaps surpass a bottle of 50-year-aged scotch too, which is trading at $32K at the whiskey exchanges across the world.However, in India, like whiskey exchanges that are few and far between (trading aged single malt scotch), there are limited cryptocurrency exchanges that are reliable, regulated and that enable trading in Bitcoins and other cryptocurrencies.
In India, as the Bitcoin fever is catching up with over 2,500 users trading Bitcoin daily and the trading volume rising close to $20 Bn a year, cryptocurrency exchanges are mushrooming with each passing day.
In the world of cryptocurrencies, hard-fork is a common phenomenon.However, for a hard-forked coin’s valuation, it is important to have the backing of some independent exchanges that could benchmark their values.
Amid 1315 cryptocurrencies along with crypto tokens available for the trading at various cryptocurrency exchanges, it is crucial to check whether the exchanges trading these cryptocurrencies are regulated or not.
In India, while mcap tokens and Onecoins received a bit of controversy, globally, more than 50 cryptocurrency exchanges have been shut down owing to the hacking, chaos and government policies.
In India, while the government policy regarding cryptocurrencies is the new ‘ Birbil Ki Khhichdi’, still in the cooking mode, a majority of the Indian cryptocurrency exchanges have already adopted the KYC way to minimise the trading risks.The Indian cryptocurrency exchanges have also formed a foundation called Digital Asset and Blockchain Foundation of India (DABFI) which decides the exchanges’ stand on various issues such as hard-forks.Leading from the front, Bitcoin has captured a major chunk of market shares, Ethereum, Litecoin and Bitcoin Cash are slowly making their way into the Indian cryptocurrency market.
Added to that, India is soon going to have its own digital cryptocurrency, Laxmicoin .
Founded by Raj Dangi and Mitts Daki, Laxmi Coin was scheduled to be India’s first digital cryptocurrency, back in 2013.However, after RBI press release over the cryptocurrencies in 2013, the launch was suspended.
The startup will be officially launched in 2018 now, and the ICO will start on March 31, 2018.
As many cryptocurrency enthusiasts looking forward to investing in Bitcoins and other cryptocurrencies, however, are unaware of the various cryptocurrency exchanges, their trading fee and other details; the article efforts to enlist the current active cryptocurrency exchanges across India.Readers are suggested to check the pricing index policy and exchange regulatory parameters while investing in Bitcoins or other cryptocurrencies.
This is important, as pricing varies as per the indexing policies; some exchanges do follow local demand-supply curve while some, global index.The Bitcoin, Ethereum Era: A List Of Cryptocurrency Exchanges In India
Please note that the order is arbitrary.The information has been collected from press statements, publically available resources and websites.Unocoin Based Out Of: Bengaluru Founders: Abhinand Kaseti, Harish B V, Sathvik Vishwanath and Sunny Ray Funding Details: Raised $1.75 Mn till date: $250K in Seed funding and $1.5 Mn in Pre-Series A funding led by Digital Currency Group in 2016 Key Stats: Over 500K downloads, as of November 13, 2017 Cryptocurrency Offered: Bitcoin Transaction Fee: 0.7% to 1% Avg.Registration Time: 24-48 hours
Founded by Abhinand Kaseti, Harish B V, Sathvik Vishwanath and Sunny Ray in December 2013, Bitcoin wallet Unocoin has registered over 500K downloads so far.Based in Bengaluru, Unocoin has partnered with US-based Bitwage and Canada-based Paycase, in a bid to widen its global user base.
Recently, Unocoin has also entered into a strategic partnership with the US-based software platform for the digital currency, Blockchain.The partnership will allow seamless integration of the Unocoin wallets with Blockchain wallets where Indian users can fund their Blockchain wallets through Unocoin.
Within the four-year span, Unocoin has also introduced some new features such as the Bitcoin Systematic Buying Plan (SBP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The-Counter trading (OTC).
The company has successfully raised close to $2 Mn funding so far.Seed-funded with $250K , Unocoin raised $1.5 Mn in a Pre-Series A funding led by Digital Currency Group in 2016.
The other investors who participated in the round were Founders Club, Boost VC, ah! Ventures, Bnk To The Future, Mumbai Angels and Blume Ventures.
According to the company statement, on April 7, 2016, the Unocoin business was transferred to Unocoin Technologies Pvt Ltd which is a fully owned subsidiary of a holding company in Singapore named Unocoin Technologies Pte Ltd.Belfrics.
