India’s leading Bitcoin Exchange, Zebpay, is planning to launch new features for its mobile wallet application. These features include an open order book, multi-coin support, and instant PIN reset. Additionally, the exchange has announced plans to add trading support for Bitcoin Cash, Ethereum, Ripple and Litecoin.
The growing competition in India’s cryptocurrency services market is pushing companies in the space to work harder. Zebpay’s case is no different, hoping its new features will satisfy its user base of one million people across Android and iOS platforms.
As India’s oldest bitcoin exchange, Zebpay said in a blog post that it strives to listen to all user feedback. In fact, according to the company, these new additions to the mobile app came at the request of its customers.
Additional Features on Zebpay
The new open order book feature will allow buyers and sellers to match orders with one another on the company’s exchange. The introduction of the feature, said the company, will provide greater transparency for users. Additionally, the exchange said its goal in implementing this new feature is to facilitate more fluent trades.
Zebpay’s new instant PIN reset service will send customers a SMS containing a link that allows them to set new PINs for their accounts and resume trading immediately. Previously, clients had to wait a full 24 hours after resetting their PINs before they could start trading again.
Lastly, the planned addition of new coins comes with the intention of increasing overall trading volume on the exchange. From day one, said Zebpay, the new coins will have access to open book trading.
Competition Heating Up in India
While Zebpay holds one of the top spots among cryptocurrency exchanges in India, it still faces stiff competition. Koinex, for example, provides trading services for — you guessed it — Bitcoin, Ethereum, Ripple and Litecoin.
Recently, India’s largest payment gateway, Billdesk, started its own cryptocurrency exchange: Coinome. According to Billdesk, it will be the country’s first open order exchange for cryptocurrencies.
Thus, it’s likely that Zepbay’s new services come in response to this uptick in competition. If the company wants to stay on top, it needs to offer the same services — if not more — as its competition. That means adding support for new coins and integrating open order trading.
As India’s cryptocurrency industry continues to grow, more of these business will emerge to cater to the needs of the country’s crypto enthusiasts. And if Zebpay’s planned improvements are any indication of what’s to come, India can expect a highly competitive market of companies vying for the top spot in the crypto services industry.
Do you think India’s cryptocurrency industry will continue growing? Let us know in the comments section.
Images via inc42, Zebpay
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