India’s leading bitcoin exchange platform Zebpay has added trading functionality for the seventh largest cryptocurrency by current market capitalization, Litecoin (LTC). Surprisingly or unsurprisingly, the Indian exchange saw litecoin prices acutely plummet in the first few hours of trading while the global litecoin markets remained steady.
The powerhouse Indian cryptocurrency exchange just declared its latest altcoin listing with an announcement on Twitter. Accordingly, cryptocurrency enthusiasts across the subcontinent instantly went abuzz.
Adding another cryptocurrency – Litecoin! Now buy, sell and trade litecoin from your account. Refresh your app from verification screen to get started. pic.twitter.com/7qQ2Lgq2An
— zebpay (@zebpay) January 25, 2018
Per a new blog post on Zebpay, the company has kept its promise to integrate more cryptocurrencies into their platform. With the release of the new update, more than 1.3 million users can buy, sell, send and receive litecoin — a.k.a. “Digital Silver” — using the exchange’s app.
Former Google employee and Litecoin founder Charlie Lee praised the move with a tweet and urged other trading platforms in the country to follow Zebpay’s lead:
“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.”
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! ?
— Charlie Lee [LTC] (@SatoshiLite) January 25, 2018
Zebpay customers don’t have to update the app to access the freshly listed Litecoin functionality. Users can simply refresh the confirmation tab in the app to see the newest coin.
A Big Step Amidst Tough Competition
While Zebpay leads the spot among cryptocurrency platform in India, it’s still facing tough rivalries. For example, Koinex — another crypto trading platform in India — already provides Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin trading support.
And it is a big move by the company while the Indian cryptocurrency community is seemingly encircled by the government and banks. Last week, many major banks of India froze the bank accounts of leading domestic bitcoin users.
At the press time, Indian tax authorities have also just seized undisclosed bitcoin assets worth $47 million USD and labeled it as “black money.”
What’s your opinion? Does this listing in India bode well for Litecoin adoption in 2018? Let us know what you think in the comments below.
Images via Entrepreneur, Hacked