Leading Indian Cryptocurrency exchange Zebpay adds Litecoin support
On January 25, 2018, India’s leading crypto exchange, Zebpay, added support for Litecoin to its trading platform to serve its vast user base of over two million. In a company blog post, it stated that there are more cryptocurrencies such as ether and ripple slated to be added to the trading platform in the near future.
Zebpay’s blog stated, “Continuing on our promise to add more cryptocurrencies onto our platform, today we’re happy to announce that we are adding Litecoin to Zebpay.”
Litecoin addition is Good, but Ripple would have been better
Zebpay users can now trade litecoin, the eighth largest cryptocurrency by market capitalization. Litecoin is a peer-to-peer currency that enables instant transfers at almost near-zero cost. Indian crypto traders were not very hyped about the addition of litecoin which reflected on the trading graph. Zebpay saw litecoin prices drop for the first few hours when the functionality was added. However, it did not have any effect on the global litecoin market.
The addition of litecoin before ripple was debated over twitter by crypto enthusiasts. Ripple has been very popular among Asian traders due to its growth over the past few months. However, the company assures that ripple will soon be added to the platform.
Significantly, the prominent crypto exchange Zebpay does not purvey cryptocurrency to cryptocurrency pairings. Therefore, it is mandatory for users to sell their digital assets for fiat equivalent and then purchase the other tokens.
Litecoin Founder excited to serve 1.3 Billion people
On January 12, 2018, Zebpay, a mobile-based cryptocurrency exchange, announced the rollout of bitcoin cash support on their app. After, bitcoin cash, litecoin is the second altcoin to be added to Zebpay for trading.
Charlie Lee, Litecoin founder and former Google employee, applauded the move via Twitter and sang praises of Zebpay as it becomes a gateway for litecoin to serve a broader audience. Additionally, Lee encouraged other crypto exchanges to follow in the same direction:
“I’m excited to see Litecoin added to @zebpay exchange, one of the largest exchanges in India. This opens up Litecoin trading to 1.3 billions more people! I hope to see @Unocoin and others follow suit.”
Zebpay users do not have to work around to get the new litecoin support. Users only have to go to the verification screen on the app and click on the refresh.
Zebpay is the most popular app to trade cryptocurrencies in India. However, it faces tough competition as other exchanges are not trailing far behind. Koinex and Coinsecure are Zebpay’s biggest competitors. Koinex already supports multiple coins such as bitcoin cash, ether, litecoin, and ripple.
Overall the positive news from Zebpay is welcomed by the cryptocurrency community following last week’s news in which major Indian banks froze the bank accounts of bitcoin users.
Do you think Ripple should have been added before Litecoin? Let us know your opinion in the comments section.