Indian crypto exchange Bitbns’ new transaction method offers relief to traders
Indian cryptocurrency exchange Bitbns has begun a new way for INR transactions. The new technique is different from P2P (peer-to-peer).
In July, Indian banks ended support for crypto exchanges but it seems like they won’t stay in it for long. Other Indian exchanges like Koinex and WazirX have already come up with P2P services and many users are already using their services. Coindelta also introduced USDT trading on their platform.
Bitbns, unlike other exchanges that trade in P2P systems, came up with a more efficient method for deposit and withdrawals that would help the Indian crypto community trade effortlessly.
The Bangalore-based company mailed its clients declaring INR dealings will be sustained but did not reveal how it will be done.
Bitbns is the first exchange in India to introduce EOS mainnet and support EOS coins payment. India’s central bank, Reserve Bank of India, had several times warned public about the risks of trading in cryptocurrencies.
After RBI banned banks from dealing with virtual currencies, their prices saw a 50 percent fall in India. Many trading in crypto were worried they would lose their assets to RBI but Bitbns’s statement gave a sigh of relief to depositors.
Users can buy and sell RAM with EOS apart from RAM-INR trading on Bitbns.