Cryptocurrency exchanges are looking to lure retail traders by launching aggressive marketing campaigns and giving away crypto during the holiday season in India
Crypto exchanges are encouraging citizens to choose Bitcoin as a gift instead of their traditional choice this time of year which is gold.
The co-founder of the popular crypto exchange Unocoin, told the Economic Times that if approached right, “Bitcoin and gift vouchers can be an interesting option for users to consider as more awareness activity is expected across the industry.”
The exchange has linked up with e-commerce websites to enable customers to purchase prepaid gift-vouchers vouchers for online shopping using Bitcoin.
Rival exchange, WazirX, which has a number of product launches scheduled for this month, is also targeting crypto gift-giving amid the holiday season
“Crypto gifting is a part of our product roadmap,” stated Rajagopal Menon, vice president of marketing at the exchange. WazirX grew its team from 50 to more than 200 employees this year, noting plans for further expansion during the festive season.
The marketing moves come at a time when regulatory clarity is still lacking in India as lawmakers continue to procrastinate on implementing legislation. There could be some light at the end of the tunnel, however, as new legislation is in the works.
