In an attempt to lure investors and traders, CoinSwitch has waived off trading fees on bitcoin transactions for a limited period.
However, only users with fully-verified Know-Your-Client (KYC) and
accounts can avail the offer and trade bitcoin at zero fees.
Bitcoin is the largest crypto by market capitalization and weighs over 35 per cent on CRE8, the real-time Indian crypto market index offered by CoinSwitch.
The dominance of bitcoin in the crypto market, based on its shares in terms of market capitalization, stands close to 42 per cent. Bitcoin’s total m-cap is close to $450 billion.
The zero-fee trading offer extends to all bitcoin transactions, including SIP and limit orders as well as sale of bitcoins received as rewards for referrals and other promotional activities.
Both fractional and high-value investors can avail the offer as there is no lower or upper limit on the order value, the trading platform said in its media release.
CoinSwitch listed the 100th coin on its trading platform last month enabling users to purchase and sell these crypto assets in Indian rupees following safe-investing guidelines.
Founded in 2017, CoinSwitch claims to have more than 18 million registered users. It is backed by renowned PE funds such as Andreessen Horowitz (a16z), Tiger Global, Sequoia Capital India, Ribbit Capital, Paradigm, and Coinbase Ventures.
Other than an investment platform for crypto, CoinSwitch is also providing educational and informative content through its blogs and YouTube videos to help users.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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