Indian cryptocurrency exchange Wazirx is offering rewards for videos about how to buy bitcoin or other cryptocurrencies in India in all Indian languages, including Hindi, Tamil, Gujarati, Marathi, Kannada, Bengali, and Telugu. News.Cryptox.trade caught up with Wazirx CEO Nischal Shetty to find out how his program works.
‘How to Buy Crypto in India’ Videos in All Indian Languages
Indian cryptocurrency exchange Wazirx announced Monday that it is offering rewards for videos teaching about cryptocurrency, specifically on the topic of how to buy bitcoin and other cryptocurrencies in India. The exchange found that 90% of crypto explainer videos and blog posts are in English. While there are some in Hindi and a few in Tamil, the number of videos is “almost negligible in other languages.”
News.Cryptox.trade caught up with Wazirx’s CEO, Nischal Shetty, to find out more about this initiative. He explained:
We’re supporting all the Indian languages. Every language in India is important and more languages means more crypto adoption. Some of the examples of Indian languages are Hindi, Tamil, Gujarati, Marathi, Kannada, Bengali, Telugu etc.
According to Worldatlas, the most widely spoken language in India is Hindi, with over 551 million speakers, followed by English with more than 125 million speakers. Other popular languages spoken by more than 50 million people in India are Bengali, Telugu, Marathi, Tamil, Urdu, Kannada, and Gujarati. In addition, more than 10 million people in the country speak Odia, Malayalam, Punjabi, Assamese, and Maithili.
“India is big on video. Video learning is growing at a tremendous pace. We believe that video would be the best platform to spread the right information about crypto in India,” Shetty elaborated. “While we could create videos ourselves, we believe in collaboration. Hence we decided it was best to support videos creators.” He also tweeted urging his followers to “Create videos in Indian languages so that everyone gets to learn and understand the crypto revolution.”
Shetty confirmed that there are no length restrictions for the videos, emphasizing that “Different educators have different styles of explaining and we don’t want to constrain them.” He clarified that this is a pilot program and the first 25 such videos will be rewarded. “Based on response, we’re planning to expand this program to 1000 videos,” he further shared.
To participate, “You just have to create a video explaining how to buy crypto in India. Once the video reaches 1000 views, you need to submit this form,” the CEO described. The producer whose video meets this requirement will be rewarded 700 WRX, Wazirx’s native exchange token. WRX is currently trading at $0.137719, making the reward amount approximately $100 or 7,530 INR. Shetty shared with news.Cryptox.trade on Wednesday:
The campaign is growing fast. We’ve already seen over 10 submissions in different languages.
The Indian crypto industry is growing despite the coronavirus pandemic and economic crisis following the extended lockdown. Crypto exchanges have seen their trading volumes and signups soar. Last week, a major Indian corporation, Tata Consultancy Services (TCS), launched cryptocurrency trading solutions for banks. Before the covid-19 pandemic began crippling economies worldwide, the Indian crypto sector got a boost when the country’s supreme court quashed the crypto banking restriction by the central bank, the Reserve Bank of India (RBI). Now the Indian government is deliberating on how cryptocurrency will be treated in the country. The RBI has further clarified that bitcoin and other cryptocurrencies are legal and there is no ban on crypto exchanges, businesses, or traders in the country.
Which language do you most want to see an explainer video in? Let us know in the comments section below.
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