Bitcoin trading app by Pluto Exchange - Fusion - WeRIndia

In order to provide solutions while trading Bitcoins in India like payment process, cryptocurrency dealer Pluto Exchange launched Bitcoin trading application on Thursday.

This is India’s first mobile app related to Bitcoin trading. The mobile app helps traders by offering coordination solutions to problems in payment processors, banks and financial gateways.

Bharat Verma, the Chief Executive of the company stated that the company is all set to launch the mobile app which facilitates Bitcoin transactions using a mobile number.

The apps which are already in the market help do transactions using the addresses of Bitcoins, which may lead to errors while copying due to their length, states the company. Whereas the app of Pluto Exchange uses the 10 digit mobile number, so this problem would not occur.

With the new app, users of Bitcoin can buy, sell and store using a mobile number with the help of a four digit PIN.

This app helps traders to perform a wide range of transactions. These include trading, payments, supply chain finance, remittances, B2B commerce and asset management.

Due to its high volatility, RBI is concerned about using cash to deal with cryptocurrencies. As per RBI, Bitcoins are decentralized as they cannot be regulated.

There are as many as 15 Bitcoin exchange forums in India and majority of them were set up in the last two years.

The value of Bitcoin is on an upsurge. For instance in New York, its value has grown to 1,600 per cent in 2016. The value of Bitcoin at present is around $15,000.

In India, each Bitcoin is being traded for over ₹10 lakh.  Many people are investing in it due to constant upsurge.

They are investing from ₹3,000 to several lakhs of rupees and buying Bitcoins.

In the meanwhile, fraudsters and cyber criminals are seeking various methods to cheat investors.

Image by 3D Animation Production Company from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/fr/illustrations/bitcoin-crypto-monnaie-virtuel-3024279/