Wednesday January 23, 2019
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How can you trade in Bitcoin in India?

This will be the country's first app-based wallet that enables bitcoin transactions using a mobile number

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Pluto Exchange has launched first app that will trade in bitcoins in India
Pluto Exchange has launched first app that will trade in bitcoins in India. Wikimedia commons

Dubai based “Pluto Exchange” has launched a Bitcoin trading app specifically targeted at the Indian market. The app was announced by Pluto Exchange founder and CEO Bharat Verma.

All about the app

  • This will be the country’s first app-based wallet that enables bitcoin transactions using a mobile number.
  • The app offers a solution to the coordination problem between payment processors, financial gateways and banks.
  • All other apps already in the market do transactions using bitcoin addresses, which are long and prone to error while copying. This app will enable transactions using mobile numbers only, which are just 10 digits.
  • By using a four-digit personal identification number (PIN), users can now buy, sell, store and spend bitcoins via a mobile number.
  • The app would permit a range of transactions, including payments, remittances, business-to-business commerce, supply chain finance, asset management and trading.

RBI on Bitcoin

Bharat Verma, CEO, Pluto Exchange said that the Reserve Bank of India is concerned about the use of cash for dealing in virtual currencies, whose values have turned volatile recently.

“The RBI considers bitcoins as decentralized trading that is completely unregulated… so their status is not clear,” he said.

Current scenario of cryptocurrency in India

In India, there are at least 15 bitcoin exchange forums, with the majority being set up over the past two years. Bitcoins have been trading at more than Rs 10 lakh each, while people are investing amounts ranging from Rs 3,000 to several lakhs of rupees to buy these.

According to investigation agencies here, with the demand and price of cryptocurrencies on the rise, cyber criminals have found innovative ways to dupe those looking to invest. (IANS)

Next Story

The Best Litecoin Wallet this Year

As you can see an array of best Litecoin wallets in 2019 available for storing Litecoin which is a cryptocurrency that facilitates an instant transfer of funds

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Litecoins, cryptocurrencies
Cryptocurrency, Litecoin. Flickr

Cryptocurrencies are gaining robust popularity amongst the masses due to its decentralised approach. Since cryptocurrencies eliminate the intervention of institutions and Governments in its transactions, it is more transparent in its operations. People might be well aware of the popular crypto Bitcoin, but there are many other better performing coins like Litecoin, Bitcoin Cash, Ethereum and Ripple. If you intend to buy litecoin, then you should have a crypto wallet which can store the litecoins for you. A crypto wallet acts like a regular wallet to keep the money safe, but it does not actually hold any physical form of cryptos. 

Find below some of the Litecoin wallets to secure your LTC:

Ledger Nano S: It is a hardware wallet which can be easily plugged into your system like a USB device. Ledger nano s is considered safer than online wallets as they can be physically carried and plugged off the device thereby providing less space for any fraudulent activities. Ledger nano is equipped with private keys for better security and is the best choice if you have LTC in large numbers.

Litecoins, cryptocurrencies
As technology advances, you can see many more wallets pitching in with its own innovative ideas to store and safeguard cryptocurrencies. Flickr

Trezor wallets: Trezor was a child from the Satoshilabs and is the first hardware wallet meant for providing more security to the coins. Trezor renders its support to many coins like Dash, ZCash, Litecoin and Dogecoin. It provides a 9-digit pin code to store your Litecoins even offline. Trezor is one of the lightest and portable Litecoin wallets.

Also read: Microsoft Adds Digital Health; Feature On its Beta Android Launcher

Exodus: Exodus is a popular desktop wallet which provides space for storing many cryptocurrencies including Bitcoin, Litecoin, ZCash and Ripple. Exodus has an inbuilt connection with famous cryptocurrency exchange Shapeshift allowing easing access to LTC to BTC converter and BTC to LTC exchange.  Exodus is a multi-currency wallet and hence is a favourite for many crypto enthusiasts.

Jaxx: Jaxx wallet supports desktop and mobile applications. Jaxx provides a user-friendly experience for all the 13 cryptocurrencies it supports. One amongst them is Litecoin. Jaxx wallet can be used in IOS, Android, Windows and Linux devices. It has a tie-up with Shapeshift which is a leading crypto exchange thus allowing you to buy Bitcoin anonymously with credit card. 

Cryptocurrencies
A crypto wallet acts like a regular wallet to keep the money safe, but it does not actually hold any physical form of cryptos. Flickr

Electrum LTC: To get away with the slow speed of heavy Litecoin core wallets, you can shift to a lite wallet like Electrum LTC to store Litecoins. Electrum is a desktop wallet which works without downloading the entire Litecoin blockchain.  Electrum LYTC wallet is protected by a 12 digit seed key and is available for different types of desktops like MAC, Windows and Linux.

Conclusion

As you can see an array of best Litecoin wallets in 2019 available for storing Litecoin which is a cryptocurrency that facilitates an instant transfer of funds from one end to the other through a peer-to-peer network. Look at the pros and cons of different crypto wallets before choosing the one which suits your needs. As technology advances, you can see many more wallets pitching in with its own innovative ideas to store and safeguard cryptocurrencies.