Bengaluru, NFAPost: OKEx, a leading cryptocurrency spot and derivatives exchange, has been witnessing a week-on-week surge in the Bitcoin and USDT trading volumes. The hassle-free Bitcoin buying experience offered by OKEx on its P2P platform has helped it gain traction in India.
Another barometer of OKEx’s popularity amongst traders from India is the fact that the exchange has distributed over $150,000 (Rs 1 crore) during the various monthly campaigns that attracted a swarm of newbie crypto traders.
According to the OKEx India P2P Head Keerthan Shetty the December 2020 P2P trading volumes rose to over $8 million, the highest ever recorded on OKEx India.
“It reveals the trust the Indian traders has reposed in OKEx due to the super-fast dispute resolution and KYC Level 2 verified merchant’s features of the service,” said Keerthan Shetty.
He added that in order to reward the traders for their contribution in making OKEx a hit in India, the exchange also throw a “OKEx Beach Party” for OKEx top traders on a private beach resort in Mangalore, Karnataka on December 15, 2020. “The top P2P traders were rewarded with iPhones 12 Pros and many other goodies,” said Keerthan Shetty.
The “OKEx Beach Party” successfully established a much closer and stronger relationship between OKEx and the Indian P2P traders who are now planning to come up with more exciting campaigns for the Indian crypto enthusiasts.
With the crypto market now valued around $1 trillion and many India-based fintech companies jumping on the crypto bandwagon, the future of crypto in India seems quite bright.
Banking on such macro factors, OKEx plans to bring in more crypto products to the Indian market, nurture their relationship with the Indian crypto community, bring crypto-financial literacy and aim for crypto-financial inclusion of those who are yet to feel the power of crypto.
The Supreme Court had lifted the ban on cryptocurrency in early March 2020, and then on, the country has witnessed a surge in interest in crypto currencies. According to a report from OKEx, there had been a massive rise of 545% in web traffic from India in the immediate aftermath of the lifting of the crypto ban.
The news and data were soon picked up by many international exchanges around the globe and capitalizing on such a young and energetic market was obviously the next step for them. And in just 2 months time, OKEx was one of the first mainstream crypto exchanges that stepped their feet on the Indian soil and made their presence felt by launching their P2P platform for the Indian audience.
In August 2020, OKEx launched its P2P platform in India offering 0% transaction fees and simple Bitcoin and USDT buy and sell features via UPI, NEFT, and IMPS payment techniques. The exchange made quite a successful debut in India with its escrow backed P2P service and KYC Level 2 verified merchants.
OKEx is an innovative cryptocurrency exchange with advanced financial services. We rely on blockchain technology to provide everything you need for wise trading and investment.
OKEx offers hundreds of tokens and trading pairs. With OKEx, customers can join one of the leading crypto exchanges by trading volume. OKEx serves millions of users in over 100 countries. OKEx’s BTC futures trading volume now averages about USD 1.5 billion daily. Apart from futures, OKEx also provides spot, margin, options, and perpetual swaps, DeFi, lending, and mining services.