Monero & Litecoin Ready to Actuate — Blessing for Traders

After introducing the token trading for NEO, Red Pulse Token(RPX), DeepBrain Chain (DBC), XLM and Gas for the first time in India, Bitbns, is all set to launch new coin which no other exchange in India is trading, XMR. Not only this we would also be launching Litecoin. Indian traders and investors will now get a chance to Buy Litecoin (LTC) and Monero (XMR) at Bitbns in INR.

Trade XMR, LTC @ Bitbns

Users will be allowed to deposit XMR and LTC on Bitbns before trading goes live for these cryptocurrencies. Deposits would begin from 8:00 p.m. IST tonight i.e. February 27th 2018.

Just follow these 3 easy steps to deposit the XMR and LTC into Bitbns.

*Go to the wallets section.

*Click on the currency that you would like to deposit, XMR or LTC.

*Generate the address and use this address to deposit the cryptocurrency.

We would learn a few things about these 2 currencies below

XMR — Monero (XMR) is an open source cryptocurrency

Monero (XMR) is electronic money that allows us to make payments from anywhere in the world. The transactions made with Monero are confidential and untraceable.

Your network always seeks to be independent and decentralized, so you never have to depend on groups that capture much of the mining power.

Technical characteristics

• It is based on the CryptoNote protocol.
• It has a PoW algorithm: CryptoNight.
• Scheduled to generate 1 block every 2 minutes.
• It is dynamically scalable.
• In practice, an infinite number of coins will be generated.
• It is decentralized and does not allow centralization in large mining companies, as happens with Bitcoin.
• Ring Signatures or signatures in ring is the cryptographic technology that gives privacy and prevents the recipient from a
• Transaction can trace the sender’s address.
• The connection of the nodes is made through the anonymous I2P network, making it difficult to know data about transactions.
• The Kovri project will allow encrypt all the transactions of its users through I2P, managing to obfuscate the IP addresses of those involved in a transaction.

The current XMR price in INR is hovering around Rs.19,536 with a market cap of Rs.308,061,208,170.45, as of today, 27th Feb, 2018.

LTC — an anonymous cryptocurrency based on a P2P network

The principle of the P2P network is that there is no type of authority that regulates the currency, which differentiates it from traditional currencies. The knots of the network direct the transactions, the validity, and everything that pertains to this currency..

Litecoin is a coin based on blockchain created by Charlie Lee in 2011 and that, in general, bears much resemblance to Bitcoin, in the same way as many other currencies that exist today. Historically, Litecoin has been a currency that has moved in tiny prices since its inception, not having been until this last month when its valuation has begun to rise to levels that have managed to place its name on the radar of investors.

Litecoin does not have a significant differentiation that allows us to value this currency in a particularly special way. It is necessary to point out, however, that the speed of the transactions carried out is notably higher, making transactions with it easier. This serves the original idea of creating a lighter and more abundant currency that went to Bitcoin what silver is to gold.

In this allegory, the reference to abundance comes from part of the total number of coins that may exist in Litecoin. While in Bitcoin the total amounts to 21,000,000, in this other currency the amount amounts to 84,000,000, quadrupling the first.

The current LTC price in INR is hovering around Rs.14,189 with a market cap of Rs.786,151,191,207.16, as of today, 27th Feb, 2018.

Trade XMR and LTC at Bitbns

XMR trading is being introduced for the first time in India at Bitbns. Alongwith LTC trading in India. Apart from tokens, Bitbns has also been the first to take UPI as deposits. We also were among the very few to have introduced no fee on INR deposit or withdrawal and an instant KYC verification procedure and were the first pureplay exchange to launch a mobile trading app all this within 2 months of our launch.

Trading for XMR and LTC starts 12 p.m. IST on 28th Feb 2018.

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