BuyUcoin, the second oldest Cryptocurrency Exchange in India, announces the launch of a new and unique platform for wholesale cryptocurrency trading which allows its users to trade on a large scale with low price fluctuations. The platform currently works on free trading model i.e. charges zero fee on any trade.
This new feature introduced by BuyUcoin will help to improve the liquidity of cryptocurrency in Indian market and lead to quicker transaction, better prices and market stability. The platform is aptly described and known as OTC (Over-the-counter) desk. It is preferred by traders who deal with cryptocurrency in bulk and want to resist much price fluctuations during the trade.
Shivam Thakral, Co-Founder and CEO, BuyUcoin, said, “Our company is quite optimistic about future of cryptocurrency industry and we are working towards our long term vision of availing crypto to masses. This wholesale platform is one of the major milestones in the Indian crypto market and features like this keep us ahead in the competition.”
While the courtroom battle between Indian cryptocurrency exchanges and the central bank is still on, RBI has long looked down on cryptocurrency projects, banning Indian banks from conducting any business with crypto companies last year. In response to this, many companies including BuyUcoin have adopted to P2P system, which does not require any involvement of banks from the exchange end and makes the trading convenient for both exchanges and traders.