Despite having a large market, the cryptocurrency infrastructures have not been very satisfying for investors in India. This is partly due to the discouraging attitude of the government towards virtual currencies and partly because of the lack of exposure to the lucrative projects from the DeFi sector. This scenario is, however, changing with new crypto-based startups springing up at a very rapid rate. The IC15 project is one of the latest additions to the crypto market in India, launched on the 3rd of January. Now, this new venture is getting all ready to be launched on the Bitbns exchange.
Dubbed as the first-ever crypto index of India, IC15 was launched Last January by CryptoWire. This index will bring the coins with a positive performance rate for trading on the global market. This rule-based crypto index assesses the projects based on their market capitalization and helps spread the investments on several assets at once for a better profit and lower risk. This will be a huge investment opportunity for the 100 million investors reported to have holdings in cryptocurrencies. Now, this index is gearing up to begin its trading in the Bitbns crypto exchange as early as the first week of April.
Bitbns is a cryptocurrency exchange based in India launched towards the end of 2017. This platform is also the only Indian cryptocurrency exchange currently in operation. The exchange soon became popular among the investors of India for its comprehensive listings and affordable pricing. The platform also announced the Swap feature in 2021 and supported nearly 300 cryptocurrencies from the global market. Bitbns also offers one of the lowest trading fees at 0.25% and offers a fee waiver for the borrower during margin trading. It is such peculiarities that made the project the favorite exchange of more than 3 million customers. Find more about this exchange from this complete and unbiased Bitbns review.
CryptoWire’s licensing deal with Bitbns for the IC15 index will surely bring lucrative benefits to investors. First up, the index is rule-based and offers the ability to spread your investments across different cryptocurrencies, mitigating the risk factors to a minimum level. It will allow the users of Bitbns to also avoid risks related to the liquidity of the assets. The arrangements allocate a significant portion of the revenue for research and development to make the index much more compatible with the growing needs in the market.
On top of everything, this deal will put India on the map as one of the largest markets for cryptocurrencies. It will also help reach more global projects and profitable startups in the DeFi sector. Surprisingly, the announcement for the IC15 index came just when India announced its curtailing policies towards cryptocurrencies. This indicates the potential of cryptocurrencies for future growth despite the restraints put forth by the government.
Source: https://www.cryptonewsz.com/indias-first-crypto-index-will-be-available-on-bitbns-from-april/