Cryptocurrency exchange Huobi has got good news for its Indian customers.Like other exchanges, Huobi is also about to introduce the peer-2-peer crypto model for its operations in India.Despite the ban imposed by the Reserve Bank of India, exchanges are opting for different transaction models to keep the trade on. This is a clear strategy of its global expansion especially in the Indian context which has witnessed a huge crypto investment in the recent months before the ban.
According to Bitcoin News, it is stated that the cryptocurrency exchange Huobi promises zero fees for the transaction of digital currencies like Bitcoin (BTC), Tether (USDT) and Ethereum (ETH). The announcement came through an email which notified the exchange users about the upgrade in their transaction model. In addition to this, it is also mentioned that the customers can buy and sell digital coins in INR with this new model.
Expert Views On The New Cryptocurrency Model
An official of the exchange asserted on the fact that it’s the time to unwind some solutions for clients in India, who are willing to invest in crypto trade. This customized solution will enable them to buy and sell cryptocurrency like before without any hassle. The new operational method is termed as Huobi OTC which is a proprietary peer-2-peer method. The official further mentioned that the registered users from India can begin trading by logging on to their official website. Also, the customers are advised to shift their trade on Huobi Global in order to trade within more crypto coins and obtain better liquidity.
This indeed has come at the perfect time when crypto traders have been barred from everywhere due to the prohibition of cryptocurrency by all financial institutions. Hopefully, this will revive the trade which has been going down due to the continuous falling prices of virtual coins. The highest price of Bitcoin was recorded in December last year after which it attracted many Indian investors.
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