Huobi, one of the largest cryptocurrency exchanges in the world, is launching peer to peer cryptocurrency for INR trading in India. This will thus provide crypto traders with a solution to buy and sell the crypto asset with INR after Central Bank of India imposed a ban on all financial institutions facilitating cryptocurrency activities.
Huobi says “We do think it’s time that we provide a solution of buying/selling digital assets with INR for all Indian users: Huobi OTC – a proprietary peer-to-peer (P2P) platform that allows users and merchants to trade digital assets with your local currencies. Every registered Indian user of Huobi can log in to https://otc.huobi.com to trade digital assets with INR”.
The system will be quite different from a normal exchange. The users will be able to coordinate for conducting peer to peer deals. Huobi is supporting the incentive of free trades for Indian users when carrying out transactions in Bitcoin, Tether, and Ethereum.
Several peer to peer crypto trading website is coming up to fulfill the demand for crypto to INR trading. The sites include Localbitcoins, Koinex and Wazirx. Huobi has recently launched exchanges in Australia, the United States, the launch of this crypto exchange in India is part of Huobi’s global expansion plans.
