OXT is listed on CoinDCX as Orchid hops into IndiaJun 25, 2020
OXT, the Orchid token, is now listed on CoinDCX, a versatile cryptocurrency exchange with its liquidity, wallet, and security, making the trading experience fast, reliable, and effortless. The crypto exchange empowers traders to access to a global liquidity from leading crypto exchanges including Binance, HitBTC, and Huobi Global, trading with leverage on a single account.
New users can open an Orchid account by purchasing at least $4 in OXT and $1 of ETH on CoinDCX. Once the account is created, a shareable QR code will appear that contains account credentials. Anyone can copy or scan that account into the app for a simple, one-step setup.
Orchid's unique VPN marketplace uses a robust system of incentives to match supply with demand and ensure ample bandwidth is available. People use OXT to fund their account, and can then purchase VPN service on a pay-as-you-go basis.
Established in 2018, CoinDCX is India's largest and safest cryptocurrency exchange, offering users an integrated suite of products, including DCXinsta, its fiat to crypto product; DCXtrade, its spot trading product; DCXmargin, its margin trading product that provides 6x leverage on 200+ coins; as well as DCXfutures, its futures trading product with up to 15x leverage.
The listing of OXT on CoinDCX follows the successful closing of CoinDCX's $3 million Series A funding round, as well as a $2.5 million strategic investment round by Polychain Capital and Coinbase Ventures. Following the lifting of an industry-wide banking ban by the Reserve Bank of India in February, the crypto exchange has witnessed a more than 10x growth in sign-ups in 2020.
Dr. Steven Waterhouse, Orchid's Co-Founder and CEO said: "This listing reflects Orchid's strong global growth. CoinDCX is a major outlet for cryptocurrencies in Asia, particularly the fast-growing Indian market, and we're excited that people can now use it to get OXT and surf the Internet in privacy."
Sumit Gupta, CEO and Co-founder of CoinDCX, said: "Following the lifting of the RBI banking ban this year, we are witnessing the unprecedented growth of the Indian cryptocurrency sector. Simultaneously, the broader IT and internet sector in India is expanding at a phenomenal rate. With experts predicting that the number of internet users in India will reach 800 million by 2023, we foresee increasing demand for privacy-preserving services amongst consumers as online safety becomes a priority. We are proud to list Orchid's OXT token on the CoinDCX exchange, offering users greater accessibility to internet privacy solutions and serving as Orchid's gateway to the Indian and Asian markets."
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