Since March when the ban on cryptocurrencies was revoked, bitcoin accounted for 20% of the total traded volumes on WazirX, one of the popular cryptocurrency exchanges in India. Over the last six months, bitcoins worth $184 million were traded on WazirX’s platform.
“Bitcoin is the flag bearer of cryptocurrencies. Also, it’s more liquid and the less volatile compared to other currencies. Hence, most people come to the exchange to buy bitcoins,” says Nischal Shetty, CEO of WazirX.