Skip to main content

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs with Zero Fees

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero Fees

Another Indian cryptocurrency exchange has launched crypto-to-crypto trading. Koinex is offering 23 crypto-to-crypto trading pairs with zero fees. Earlier this week, leading Indian exchange Zebpay also launched crypto-to-crypto trading but with only one trading pair.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Koinex’s Crypto-to-Crypto Trading

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero FeesIndian exchange Koinex announced last week, “We are delighted to announce the commencement of crypto-to-crypto trading on our platform,” elaborating:

We are going live with not just one or two crypto-crypto pairs; we are launching a total of 15 token pairs, all at the same time!…This is the largest crypto-crypto pair offering by any Indian exchange and to add to this, the trading fees will be zero.

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero FeesThe exchange then announced on Saturday the addition of 8 more crypto-to-crypto trading pairs, set to go live on Saturday night.

In addition, the “seller fee has been revised to 0.15% for the INR market. Buyer fee is now fixed at a flat rate of 0.15%,” Koinex detailed.

As for deposits, the exchange clarified, “INR deposits via UPI and Netbanking are now live with payment gateway 2. Deposit fee is 1.18% for UPI and 2% for Netbanking.” However, Koinex reiterated that “all other payment methods are discontinued…All INR withdrawals are temporarily halted.”

23 New Trading Pairs

Koinex currently has 19 coins listed for trading against the Indian rupee. Its 24-hour trading volume for all cryptocurrencies is approximately $5.5 million, according to Coinmarketcap.

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero FeesFor crypto-to-crypto trading, there are nine bitcoin trading pairs, six ether, and eight ripple –a total of 23. Bitcoin and ether trading pairs are already live and ripple pairs are set to go live on Saturday night, the exchange clarified. “For the first time in the crypto world, Koinex proudly presents XRP-based trading market with 8 XRP pairs going live tonight.”

“The tokens available in the bitcoin market will be ethereum (ETH/BTC), litecoin (LTC/BTC), TRON (TRX/BTC), ripple (XRP/BTC), omisego (OMG/BTC), bitcoin cash (BCH/BTC), EOS (EOS/BTC), nucleus vision (NCASH/BTC), and request (REQ/BTC),” Koinex wrote.

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero FeesFor the ether market, in addition to BTC, the exchange is offering trading pairs for BCH, TRX, XRP, OMG, EOS, and NCASH.

For the ripple market, customers can trade BTC as well as LTC, TRX, EOS, OMG, REQ, NCASH, AE (aeternity), and GNT (golem).

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero Fees

Bypassing RBI’s Order

Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs With Zero FeesOne of India’s largest cryptocurrency exchanges, Zebpay, also launched crypto-to-crypto trading last week with one trading pair – ETH/BTC.

Both Zebpay and Koinex launched their crypto-to-crypto trading services after the Reserve Bank of India (RBI) issued an order banning banks and financial institutions under its control from dealing “in virtual currencies or provide services for facilitating any person or entity in dealing with or settling virtual currencies,” Koinex described, adding that:

Such services include maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase/ sale of virtual currencies.

The exchange warned that RBI’s order could cause “a disruption in [its] banking services” which “may affect our capacity to service withdrawals and deposits seamlessly.”

The RBI has since been taken to court by Kali Digital Eco-Systems. The Delhi High Court has accepted the company’s petition and issued a notice to the central bank. Other exchange operators are also planning to challenge the regulator as a consortium.

What do you think of Koinex launching crypto-to-crypto trading with 23 trading pairs? Let us know in the comments section below.

Images courtesy of Shutterstock and Koinex.

Need to calculate your bitcoin holdings? Check our tools section.

The post Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs with Zero Fees appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/2vYBHM3
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more