This year, the Bitowax crypto exchange has increased the number of users by 10 times
Bitowax crypto exchange, owned by Bitowax Group, published a message saying that this year its user base has grown more than 10 times to 10 million.
Since the beginning of the year, Bitowax’s trading volume has exceeded $ 2.8 billion, which corresponds to an average monthly growth of 44%. The company reported an increase in user registrations from Tier II and tier III cities, that is, from major cities of the country, with the exception of the six largest Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, by 2648%.
This year, the exchange’s performance reflects the growing popularity of cryptocurrencies in India, which remains subject to regulatory uncertainty and even a ban by the government.
If back in January the Indian government intended to completely ban cryptocurrency, since then the position has changed towards its regulation as an asset class.
Next week, Bitowax.com, together with other players in the crypto industry, is invited to a meeting with the government to share their views on the future of the industry.