It is no secret that the demand for digital currencies such as Bitcoin and Ethereum have taken off in 2020 despite the financial uncertainties surrounding a global pandemic. The strong demand for Bitcoin, in particular, is likely to continue into 2021 with investors embracing the risk and price volatility as the prices hover underneath the USD $20,000 price.
Please Note: This is a Sponsored Post
Comparing the surge in demand to 2017 which was largely fuelled by retail investors, the market has matured over the last few years and is now driven by corporations and billionaires. Experts are predicting new all-time highs to be reached in the coming days or weeks with more interest from institutional investors, with $50,000 Bitcoin prices earmarked for early 2021.
Cryptocurrency In India
Cryptocurrency trading in India has seen its ups and down with the Central Bank banning the trading of all digital assets in 2018, affecting approximately 5 million users at the time. Fast forward two years, the Supreme Court of India released the ban on cryptocurrency trading in March 2020 which has opened the doors for global trading exchanges to enter the blockchain market and capitalize on the strong demand for digital assets such as Bitcoin and Ethereum.
Introducing OKEX's P2P Platform
The popular trading exchange OKEx has expanded its core offering to allow Indian residents to buy and sell Bitcoin and Tether on its new Peer-to-Peer (P2P) platform. OKEx is considered to be a leading cryptocurrency trading platform that offers advanced financial services such as:
- Instant buy/sell cryptocurrency
- Spot exchange for crypto-to-crypto trading
- Margin trading with leveraged positions
- Derivatives products such as Perpetuals, Futures and Options
- Financial services such as cryptocurrency lending and savings accounts that pay interest
OKEx exchange is currently ranked #14 in the world for website traffic, order book liquidity, trading volumes and confidence in the legitimacy of trading volumes reported.
The launch of the P2P platform in India provides a simple way for users to convert local INR into Bitcoin using commonly available deposit methods such as UPI, IMPS and bank account transfer. Users on the Indian P2P platform can trade Bitcoin and Tether with zero-trading fees. Combined with deep liquidity, the exchange can offer the best BTC to INR conversion prices to its users.
Backed on the strong foundation of the OKEx exchange, the P2P trading platform features cutting-edge security measures to ensure funds are kept safe. Similar to other P2P crypto providers, merchants are verified on the platform with buyer and seller funds kept in escrow to ensure a safe and secure transaction.
OKEx has recently announced the launch of its #OKExChristmasDhamaka campaign for the Indian community in celebration of the end of year festivities. The campaign will run for 14 days from December 14, 2020 to 27 December 2020, with rewards of up to 9,00,000 INR, the equivalent of USDT $12,000 USDT.
To participate in the OKEx end of year festivities, users will need to register an account with the exchange and complete simple tasks such on social media to earn cupcakes (points). There is also the opportunity to win up to $2,000 from the total prize pool for the top P2P traders on the platform.