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The fledgling Indian crypto market has got a new boost as the Global software company Sylo has joined hands with Bitbns, India’s premier cryptocurrency exchange. With this new collaboration, Sylo is looking to tap on the early opportunities available in the Indian market. There is immense potential in the country as far as a digital currency is concerned, and this coming together will definitely boost the widespread adoption of crypto in India. In fact, with the advent of powerful informational apps such as The News Spy App, masses are finding crypto a very attractive investment opportunity.
Finer Details
Getting into details of the partnership, Bitbns will help the users of Sylo smart wallets on a number of key characteristics. The exchange is one of the few credible players in the Indian cryptocurrency segment, and its partnership with Sylo will definitely open new avenues of growth for both organizations. The strategic implication of this coming together will manifest in a number of areas, including the product and business segments. Both organizations are looking to derive synergy from their operational capability and strongly believe in the bright future of cryptocurrencies in the Indian market.
Sylo Smart Wallet
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One of the unique features of the Sylo wallet is its simplicity and ease of operations. The wallet is based on the theme of making the cryptocurrency transactions simple for users. Sylo had already witnessed an exponential growth of 500% in the sign up for its wallet service in India, and the company is expected to boost this growth further in the future. In fact, the importance of Indian customers for Sylo can be estimated from the fact that 30% of its total user base is in the Indian market.
Commenting on this associating, Chief executive officer of Bitbns, Gaurav Dahake, said that the Indians were waking up to the potential of cryptocurrency and finding digital coins a viable alternative to fiat currency. Dahake noted that after a ban on certain apps in India, there is an opportunity to presents a modern crypto-system to people who are safe and leave no concern for privacy. This is the reason why the company has collaborated with Sylo to offer the easy to use crypto wallet system.
Creating an account on Sylo is simple as the company has done away with the requirement of the email or mobile number for signing in new users. This simplicity in operating procedures can enable millions of people to have access to the decentralized financial system. The smart wallet can be used for sending and receiving digital assets in addition to communicating with other users through chat, audio, and video messages.
Conclusion
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This collaboration has the potential to boost the adoption of cryptocurrency in the Indian market. There is a need to make the cryptocurrency ecosystem simple and straightforward for users. The difficulty in accessing and using crypto wallets is one of the major stumbling blocks in the adoption of digital currency in India. Hopefully, with this new collaboration, we will witness a renewed momentum of crypto adoption among Indian masses.
