Bx.in.th – one of Thailand’s most popular crypto exchanges – has announced that it’s going to shut down its trading services as of September 30, leaving crypto traders in Thailand scurrying around looking for a new exchange to call home. In a bid to help Thai crypto traders, Bitbns – a popular Indian crypto exchange – has ported it platform over to Thailand and is now onboarding Thai crypto traders. With Bx.in.th announcing that it has no plans to apply for a license in 2020, Bitbns is standing out as a premier option for traders that have been left out in the cold.
Expanding Around the Globe
The crypto climate in India is going through a rather turbulent period, with mixed signals coming from lawmakers. In a bid to diversify its portfolio of operating countries – and hedge against a complete crypto trading ban in India – Bitbns has been working at launching its platform in various countries around the world. In the past several weeks, Bitbns launched its platform in Thailand and the United Arab Emirates (UAE) – both being countries that are getting hot for crypto trading. Sharia-compliant crypto trading is big business in the UAE, but there is also huge demand for regular crypto trading platforms in the country.
Avoiding the Same Fate as Koinex
Bitbns is undoubtedly the Binance of India, and it’s desperate to avoid sinking due to the Indian crypto regulations. Offering advanced trading features such as margin trading, stop-limit orders, 24/7 customer support, and automated buy/sell options, Bitbns is arguably one of the hottest crypto exchanges around. Back in June, Koinex ended up calling it a day after low trade volumes plagued the platform. Bitbns is desperately looking to avoid suffering this same fate, but with its recent expansion into fresh markets, it should remain safe from these negative effects of Indian crypto regulations.
Thai crypto traders now have a powerful and advanced trading platform available to them come September 30. With tight KYC checks in place in Bitbns, it’s well worth signing up and creating an account long before the deadline comes into place. After all, you don’t want to be left without access to the crypto market!