Earlier this week, India was witness to one of the most awaited judgements in recent years; RBI V/s Crypto. To give a little background: In April 2018, the central bank of India, the Reserve Bank of India (RBI) passed a ban which prohibited Indian banks from working with cryptocurrency exchanges in India. The banks were given three months to terminate the relationship between themselves and the crypto exchanges.
CoinDCX and other cryptocurrency exchanges, represented by the Internet and Mobile Association of India (IAMAI), challenged the RBI circular and took it to the highest court: The Supreme Court. After two years of innumerable arguments, the court set aside the RBI circular calling it “unconstitutional.”
As an emerging world power, this is a VERY big achievement for the Indian crypto community. The goal now is to get every single Indian into crypto. Taking a step towards this, CoinDCX, announced India’s Crypto Referral Program.
India’s current population is 1.3 billion with rough estimates of people of bitcoin or crypto users to 5 million which is less than 0.5%. A major boost would be needed to bring the next 50 million. As a leading exchange, CoinDCX has taken it upon ourselves to work towards this goal by launching, the #TryCrypto movement.
The #TryCrypto movement envisions that every Indian gets a crypto experience. The crypto community in India has withstood the tough period, and we at CoinDCX are grateful for their unwavering support. As a sign of our gratification to their contribution, we would like to honour them to lead this mass adoption movement called #TryCrypto. This will be India’s Largest Crypto Referral Program, a movement to bring over 50 Million Indians to the bitcoin and crypto industry.
Sumit Gupta, co-founder and CEO of CoinDCX, said: “The crypto community of India has been at the forefront of the resistance against the RBI’s banking ban for the past 2 years. In recognition of their contribution and to honour those who stood relentlessly with CoinDCX as we petitioned the RBI ban and brought the case all the way to the Supreme Court, we want to reward the community with an opportunity to lead the charge in the largest mass adoption program that the crypto ecosystem has ever seen. That is why we have launched what we believe is one of the largest referral programmes within the Indian crypto sector.”
Here is how the program works:
- A user invites his/her friend using their unique referral link
- Each referrer gets Rs 500 on every friend they bring on the #TryCrypto Movement
- Every new user gets Bitcoin worth Rs 500 on the #TryCrypto Moment
The referral program is set to go live on 7th March 2020.
This Press Release is Timestamped in the Ethereum Blockchain:
Transaction Hash: 0x9706bfcbe2380a4f4db7571583fafcbb80b0918c511f8bb6656f91c7774406b8
Timestamp: Sat Mar 07 2020 15:13:06 GMT+0100
Transaction Fee: 0.000444816 ETH
Aheli Raychaudhuri, Senior PR Manager, CoinDCX
Email ID: [email protected]