Bitbuddy, a Bitcoin marketplace, recently announced its launch in India.Just like any e-tailer medium, Bitbuddy will allow sellers and shoppers to sell and buy directly on its platform. As an exclusive to bitcoins, it will emphasize more at providing one of the best value and capacity in the market.
Bitcoin is believed to be the world’s largest cryptocurrency by market cap. Unlike any other sanctioned currency, Bitcoin is created, distributed, traded and stored with the use of a decentralized ledger and can work as a concrete investment opportunity, if handled firmly. Bitbuddy will emphasize at providing this secure platform for investors.
If we see the statistical data, bitcoins have performed really well in the last 10 years.
“If an investor would have bought Rs 100 Bitcoin in 2010, today it might be valued more than 30 crores for him. That’s the magic of investing and we at Bitbuddy understand this,” said Ashish Agarwal, CEO, Bitbuddy.
Recently in India, the Supreme Court also backed down on an order that efficiently banned virtual currencies in India. The uplifting of the ban by the apex court is surely going to open new prospects for India in terms of investments.
And, Bitbuddyis trying to leverage this opportunity. At this platform, customers will be able to buy and sell the assets. The process will be approachable enough.
As a beginner, Bitbuddy will focus on the crypto traders across the country and millennials worldwide. It will offer competitive pricing, with 2 months zero trading fees as an introductory offer. Also, there will be a referral bonus and other benefits for initial customers.
Bitbuddy is available both on Play Store and App Store.
On the initial plan, Mr. Agarwal said, “India has more than 5 million crypto users. At Bitbudy, we believe that every one of them has an interest in bitcoin. We believe to get traction of 100k customers this year.”
On Bitcoin as an investment asset, he said that it’s a general myth that Bitcoin is very expensive and one can’t afford it. However, the truth is that one can buy it even for Rs 1,000. It’s always good to invest in reliable sources.
“Other inexpensive cryptocurrencies may not be that good, which means investors end up losing money. However, we believe that nobody should put more than 5 percent of their total portfolio in this cryptocurrency. And, it should be bought always for the long term,” he warned.