CoinDCX exchange acquired BitOasis to have Global presence

CoinDCX is a Leading crypto exchange in India and this is one of the first exchanges that has been considered as a unicorn company in the Crypto Exchange business. Crypto is a fast-growing industry and if exchanges can have a good user base and consistent trading volume then it can be a good opportunity for them to grow and expand significantly. This exchange has been operating in India for the last six years and has now gone to the next level as they have acquired one of the exchanges in the Middle East.

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This is not a new practice in a crypto market where one exchange tries to acquire another to have a presence in different countries. Until now this exchange has been operating in India only but now since they have acquired this exchange they will have their presence in the Middle East as well. This is good news for the Indian Crypto community because at least there is an exchange that is growing even now when the market is not bullish and they are trying to expand their operations globally.

India’s largest cryptocurrency exchange, CoinDCX, has acquired BitOasis, a virtual asset trading platform operating in the Middle East and North Africa (MENA) region. The acquisition marks CoinDCX’s first step into the MENA market, revealing a more expansive move by the crypto firm.

We have seen in the past when many leading exchanges have acquired exchanges in different countries and even in India some of the exchanges are acquired by some international exchanges but this is the first time when any Indian exchange has come forward and made the acquisition. India is a growing crypto market and even though there are no clear regulations the number of users is growing significantly. This time when the Indian crypto market is growing even without unclear regulation so having the proper guidelines along with user-friendly taxation would be helpful for the Indian Crypto industry.

CoinDCX as an exchange is trying to offer various products and they are also compliant with Indian regulations which means users need not worry about anything if they are using this exchange in India. This exchange has never been part of any controversy or legal issues by the government which is good because the exchange is trying to stay compliant with all the rules and regulations in the country.

Recently a few international exchanges have registered themselves in the Indian Crypto market as per the FIU guidelines and it shows that India is a bigger market for them and they do not want to miss the opportunity in the market. This also seems a good time in the market because when things are good then it is the time when many exchanges are trying to acquire to expand their reach with a bigger audience.

This time we are not in the bull run situation but certainly, it is not the bearish situation of the market. The Bitcoin price has gone below 60K U.S dollars but altcoins are available at high discounts which is like they are bleeding in the market. This can be a good time for the investors to buy some valuable project coins and hold them for certain goals and once the market recovers then this can also turn out to be a profitable opportunity.

Exchange official website- https://coindcx.com/

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Posted Using InLeo Alpha