OKEx Expands into India's Crypto Market by means of Partnership with Local Exchange
By Luke Flowers – Crypto Broker
Despite some uncertainty about cryptocurrency regulation in India, one of the leading global exchanges, OKEx, is making another move to gain access to the country's market to help people buy and sell cryptocurrency.
On February 14th, OKEx partnered with India's largest Cryptocurrency trading platform, CoinDCX, to launch a new crypto futures product in India.
As a part of the partnership, OKEx is taking an enormous step into the Indian cryptocurrency market, allowing greater liquidity with its broad expertise in developing world-class futures, CoinDCX said in a statement to CoinTelegraph.
The partnership has been said to enable DCXfutures and new crypto futures products allowing users to trade these products against major cryptocurrencies with a reported 15x leverage.
According to the company, futures contracts for at least eight coins will be available at first, including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), EOS, Cardano (ADA), and Tron (TRX). Further to this, customers can trade perpetual future contracts with Bitcoin and Ether, the statement reads. It also allows a place for people who don’t know where or how to buy Bitcoin to speculate on the price but never own the asset themselves. Buying Bitcoin from our platform, you will be purchasing the asset itself.
Maker fees will be at 0.2% when DCXfutures launches, but the service is initially open to select customers on an invitation basis. Once made available to the general public, users will be able to access the DCXfutures from the same wallet.
If you are looking to buy cryptocurrency in the UK or sell crypto in the UK, head over to the BC Bitcoin website. We can help you to buy Bitcoin, Ethereum or many other cryptocurrencies.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards