Coinsecure, an Indian bitcoin exchange, announced the launch of entry-level trading account for international users as well as the Indian market in a move to improve bitcoin liquidity in the Indian market, in the wake of recent demonetization in the country. The move will help users to sign up on Coinsecure, deposit bitcoin and start trading. Reducing the barrier for entry-level trading will remove the process of having a complete verification to start trading in bitcoin. Users can avail this service at a fee of 0.5% that is lower than the rest of the market. By submitting their KYC, they can withdraw or deposit INR and avail the discounted fee of 0.3%. “With the global community eyeing the Indian market for a while now, considering the opportunities, this move will help people truly take advantage of arbitrage as well,” the announcement stated. In addition to the Entry Level Trading Account, Coinsecure has also pushed major updates both on its web platform and Android app. The update eases users to sign up and have the option to manually input the network fee based on the priority of their bitcoin transactions. Users can change the network fee from the default 0.0001 BTC to 0.001 BTC. “This move will definitely increase the liquidity in India and will also give international users an opportunity to arbitrage from the Indian market. This is a trend we have seen over other global exchanges as well,” Mohit Kalra, the CEO of Coinsecure said, as reported by newsbtc.
Indian bitcoin exchange Coinsecure has launched an entry-level account for international users to boost liquidity following the country's recent demonetisation, according to a company statement. The new account will remove the need for a complete verification to start trading bitcoin and will help people take advantage of arbitrage. Bitcoin's price surged above $11,000 at one point in early morning trade on Monday, but later fell back below that level as news broke about India's decision to ban cash transactions by January 1.