Author: Jagdish Kumar, India
One of the largest cryptocurrency exchange in India, Koinex have announced the launch of 23 crypto-to-crypto trading pairs with zero fees.
This come after, the Reserve Bank of India (RBI) issued an order banning banks and financial institutions under its control from dealing in virtual currencies or provide services for facilitating any person or entity in dealing with or settling virtual currencies.
Koinex is not the only one to launch crypto trading, very recently, Zebpay has also launched crypto to crypto trading in VeChain, Augur, other coins on it platform.
In the new launch of crypto-to-crypto trading, there are nine bitcoin trading pairs, six ether, and eight ripple taking the total to 23.
The coins that have been launched are The tokens available in the bitcoin market will be ethereum (ETH/BTC), litecoin (LTC/BTC), TRON (TRX/BTC), ripple (XRP/BTC), omisego (OMG/BTC), bitcoin cash (BCH/BTC), EOS (EOS/BTC), nucleus vision (NCASH/BTC), and request (REQ/BTC).
Other token from the ether market, in addition to BTC, the exchange is offering trading pairs for BCH, TRX, XRP, OMG, EOS, and NCASH.
For the ripple market, customers can trade BTC as well as LTC, TRX, EOS, OMG, REQ, NCASH, AE (aeternity), and GNT (golem).
The trading for these coins will be charged 0.15% as seller fee for the INR market and buyer fee is now fixed at a flat rate of 0.15%, Koinex said in a statement.
On deposits for trading these coins, the company said that deposits can be made through unified payment interface (UPI) with a fee of 1.18% and through net banking with a fee of 2% and other way of deposits and withdrawals are discontinued.
According to Coinmarketcap, Koinex currently has a daily trading volume of $5.5 million for 19 coins listed for trading against the Indian rupee.