Crypto Index India IC15 | On What Exchange Will It Be Traded In
On the Bitbns crypto exchange, India’s first global cryptocurrency index, IC15, will now be available for trading. It consists of 15 of the most valuable cryptocurrencies namely: Bitcoin, Ethereum, Binance Coin, XRP, Cardano, Solana, Terra, Avalanche, Polkadot, Dogecoin, Shiba Inu, Litecoin, Bitcoin Cash, Uniswap, Chainlink, and Bitcoin Cash.
In this article the author Scott Cook discusses India’s first crypto index and the exchange it will be trading on.
Indian investors have not been satisfied with the cryptocurrency infrastructure despite having a large market. This is partially because the government discourages virtual currencies, and partially because the DeFi sector lacks exposure to lucrative projects. The scenario is changing with the emergence of new crypto-based startups at a rapid rate. IC15, launched on the 3rd of January, is one of the newest additions to the Indian crypto market. We are now getting ready to launch this new venture on Bitbns.
Launched in January by CryptoWire, the IC15 is the first ever cryptoindex in India. This index will bring the coins with a positive performance rate for trading on the global market. This rule-based crypto index assesses the projects based on their market capitalization and helps spread the investments on several assets at once for a better profit and lower risk. This will be a huge investment opportunity for the 100 million investors reported to have holdings in cryptocurrencies. Now, this index is gearing up to begin its trading in the Bitbns crypto exchange as early as the first week of April.
Bitbns is a cryptocurrency exchange based in India launched towards the end of 2017. This platform is also the only Indian cryptocurrency exchange currently in operation. The exchange soon became popular among the investors of India for its comprehensive listings and affordable pricing. The platform also announced the Swap feature in 2021 and supported nearly 300 cryptocurrencies from the global market. Bitbns also offers one of the lowest trading fees at 0.25% and offers a fee waiver for the borrower during margin trading. It is such peculiarities that made the project the favorite exchange of more than 3 million customers.
CryptoWire’s licensing deal with Bitbns for the IC15 index will surely bring lucrative benefits to investors. First up, the index is rule-based and offers the ability to spread your investments across different cryptocurrencies, mitigating the risk factors to a minimum level. It will allow the users of Bitbns to also avoid risks related to the liquidity of the assets. The arrangements allocate a significant portion of the revenue for research and development to make the index much more compatible with the growing needs in the market.
On top of everything, this deal will put India on the map as one of the largest markets for cryptocurrencies. It will also help reach more global projects and profitable startups in the DeFi sector. Surprisingly, the announcement for the IC15 index came just when India announced its curtailing policies towards cryptocurrencies. This indicates the potential of cryptocurrencies for future growth despite the restraints put forth by the government.