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Coinbase is actively growing, with the latest goal being India, where new employees will receive $1,000 when they join.
However, one American corporation, which has gained notoriety for its involvement in El Salvador’s Bitcoin move, is on a mission to halt Coinbase’s reign of terror.
Coinbase has maintained its dominance in the United States, serving as the gateway to cryptocurrency for many newcomers. The exchange is now spreading internationally, with India and Germany on the horizon. New recruits in the former get a $1,000 bonus for joining the exchange. However, one American company believes it can put an end to this domination, or at the very least make a significant dent in it.
Coinbase expands to India and offers a $1,000 bonus to attract outstanding employees.
With a population of over $1.4 billion people, India is the world’s second-most populated country. Surprisingly, it has lagged behind in crypto, owing to severe rules. Despite this, exchanges including as market leader CoinDCX and the upcoming WazirX have demonstrated the country’s enormous potential.
Coinbase, an American company, will now join them.
Pankaj Gupta, the site lead for Coinbase India, recently wrote a blog post about the exchange’s plans and what the future holds. According to him, in order to expand in India, the exchange plans to hire hundreds of engineers and engage in acquisitions.
The most intriguing news was that people who join Coinbase will receive a sizable bonus.
As a product-driven firm, it’s critical that our new hires in India have a thorough understanding of the products and services they’ll be assisting with. That’s why we’re launching a new initiative called CIkka, which will provide each new employee in India a one-time $1000 in cryptocurrency when they start.
The exchange feels that this will drive the new hires to put their skills to work and redefine crypto in India.
Coinbase makes its debut in India at an exciting time. On the one hand, the future of cryptocurrency has never looked brighter. According to Bloomberg data, India’s crypto market grew from just under a billion dollars in April of last year to $6.6 billion last month.
Regulators in India, on the other hand, have remained anti-crypto. For years, the Reserve Bank of India has been cracking down on the sector. Furthermore, sources claim that the government is considering a complete ban on the industry.
Also Read: As Binance is banned in the United Kingdom, Coinbase CEO claims the company would list every token.
Using Coinbase means you’re backing shitcoins, according to Strike’s CEO.
While Coinbase expands worldwide, it may face a new threat at home. Strike’s CEO, Jack Mallers, a Chicago-based BTC payments firm, has declared war on Coinbase. Strike has been at the forefront of Lightning Network payments, and it has gained even more notoriety as a result of its role in El Salvador’s decision to make Bitcoin legal tender.
Strike’s clients in the United States will be able to purchase and trade Bitcoin for nearly no fees.
“Even if Coinbase wanted to, it’s questionable if they could compete on fees,” he said.
The outspoken CEO went even further, appealing to Bitcoin maximalists’ emotions. Make no mistake about it: when you buy bitcoin on Coinbase, you’re backing shitcoins.
Coinbase/n
