According to a top executive, Bitmex, one of the top crypto exchanges in the world is launching spot trading in India on Tuesday, despite the uncertainty in the cryptocurrency market and an adverse regulatory environment.
The spot exchange will enable Indian users to convert, purchase, withdraw and deposit multiple cryptos instantly. According to the vice president of Bitmex, Jenia Mikhalchenko, India is one of the most active hubs across the globe for cryptocurrency adoption, and not only from a trading point of view, but they are observing several activities related to project rollout, project development, and actual infrastructural projects within the ecosystem. India holds the second position in the global cryptocurrency adoption index. Given its tech capabilities and demography, the country is just impossible to avoid.
Bitmex is beginning spot trading in India at a time when the government has displayed an indifferent attitude towards cryptocurrency and imposed a high tax rate on cryptocurrency income. The exchange will begin spot trading across the globe with the launch of Bitmex Spot.