PayBito is a cryptocurrency asset trading platform operating in the USA and India. It was founded in 2017 and offers both crypto and fiat trading. At the time of writing, it is one of the top 20 exchanges on CoinMarketCap by 24H volume.
PayBito announced the addition of XRP to its platform on June 19.
“PayBito is always open to listing cryptocurrencies that have displayed trading credibility and potential for immense growth, provided they meet the regulatory directives” said Raj Chowdhury, PayBito’s Managing Director. “The addition of new coins helps us to serve our users better by allowing them easy access to varied trading options. It also encourages people to diversify their crypto portfolio which ultimately benefits the mainstream adoption and growth of cryptocurrencies and crypto trading,” he continued.
XRP is already trading on PayBito with AED (United Arab Emirates dirham), HCX (HCX), INR (Indian rupee), USD (United States dollar) and USDT (Tether) pairs.
PayBito’s Eligibility Criteria for Coin Listing
PayBito follows a strict set of guidelines and regulatory standards when listing cryptocurrencies within their exchange, to maintain transparency and authenticity of the process and also to ensure that the users have seamless trading experience. The eligibility regulations require a crypto asset to have:
1. An efficient team of developers and business executives with a reliable background
2. Proof of credibility that its underlying technology functions with ease, delivering benefits to the traders while generating value
3. A consensus mechanism
4. Details on the operating expenses and potential scalability options
5. Future revenue generation model with a profit margin
6. A strong market presence and demand along with an advantageous market distribution analysis
7. A blockchain network that meets the specific standards concerning market capitalization changes, transaction fees, and nodes.
8. Adherence to all regulatory compliances
PayBito has been added to our markets page.