Turkish cryptocurrency alternate agency Bitay has introduced its plans to foray into the Indian market. The agency has already arrange its workplace in Gurgaon, India.
According to Niyazi Yilmaz, CEO, Bitay, the agency is able to settle for and welcome the federal government’s 30% tax on revenue from cryptocurrencies and 1% tax deductible at supply (TDS) to be relevant from July. “We plan to reach out to Indian traders and investors and communicate our offerings to them through our campaigns. Upon joining our platform, early users shall get an Airdrop from Bitay, once they complete their Know Your Customer (KYC) on our platform. We aim to target the millennials who comprise 30% of the country’s overall population and contribute to 38% of the nation’s total gross income. Our team will customise and personalise all our rewarding offerings by leveraging cutting-edge technology. We also want to introduce loyalty programs for our customers,” he added.
Bitay goals to arrange its operations in different nations akin to USA, England, Netherlands, and Estonia, and claims to have licenses in 12 states of the USA. Besides cryptocurrency alternate actions, Bitay claims to have created initiatives and merchandise such because the Bitay NFT platform, Bitay Visa Card, Bitay Game and Bitay Academy.
An October 2021 report by Chainalysis said that India ranks the second-highest among the many highest cryptocurrency customers globally. The report additional highlighted that the Indian cryptocurrency market grew 641% all through June 2021. Bitay goals to achieve out to Indians within the age bracket of 21 to 35 residing in cities akin to Mumbai, Delhi, Chennai, Kolkata, Pune, Hyderabad, Bangalore, Ahmedabad, Indore, Patna, Jaipur, and Lucknow.
Headquartered in Istanbul, Turkey, Bitay is an alternate platform that permits its customers to buy and promote crypto property by the know-how commerce techniques. The platform claims to have the certifications of ISO/IEC 27001 and ISO 9001 for having technical safety requirements accessible. According to Bitay, it shops the shopper property in chilly storage akin to {hardware} wallets over paper wallets and computer systems with out an web connection.
Source: www.financialexpress.com”