CoinDCX, a cryptocurrency trading platform has launched its crypto-referral initiative in India.

This initiative is aimed at providing an incentive for crypto adoption by rewarding Rs 500 for every new referral in addition to Rs 500 worth of bitcoin for every new user.

This is how it works:

A user invites his/her friend using their unique referral link. Each referrer gets Rs 500 on every friend they bring. Every new user gets Bitcoin worth Rs 500.

This programme, the company believes, will be one of the largest referral programmes in the Indian crypto sector.

Sumit Gupta, Co-founder and CEO of CoinDCX, said, “The crypto community of India has been at the forefront of the resistance against the RBI’s banking ban for the past 2 years. In recognition of their contribution and to honour those who stood relentlessly with CoinDCX as we petitioned the RBI ban and brought the case all the way to the Supreme Court, we want to reward the community with an opportunity to lead the charge in the largest mass adoption program that the crypto ecosystem has ever seen.