AMA SESSION WITH PEXO TEAM

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PEXO’s Founder Mr. Jayesh Thaker and Co-Founder Mr. Meet Dhruv joined @kaliju and @askmecrypto team on Telegram to answer community questions!

PEXO was established in 2017and it is INDIA’s Multi Digital Assets Exchange. PEXO offers trading via mobile app, providing access to high liquidity order book in the market. Instant crypto buying and selling is available via simplified bundle interface. For more information you could visit https://www.PEXO.in You can also download the android app at https://play.google.com/store/apps/details?id=com.PEXO

Here's a summary of our chat:

@kaliju: Welcome Jayesh! Good to see you guys here.

@askmecryto: Hey Jayesh & Meet - a warm welcome to you at Ask Me Crypto.

Meet Dhruv: How are you all? Hope you all are keeping well!!

@kaliju: Thanks! We're hanging in here. Let's get right to it.

Question 1:

So Meet, could you please tell us a little about yourself and what it is that you do at PEXO?

Meet Dhruv: I am Co-Founder at PEXO. Our main mission or vision of the company is to provide better service to our crypto community.

Question 2:

How big is the team at PEXO and where are you guys located? For those who are not aware, please.

Meet Dhruv: We being a new exchange are of 25 members excluding Customer Support Team. We are located in Ahmedabad Gujarat, India.

Meet Dhruv: There are a lot of questions coming about how are we different from other exchanges or giants like Zebpay or Unocoin. Now, what we believe is rather than get compared we have a straight thought that every exchanges is better amongst them. We focus only on how we can be better of what we are providing to our users. We believe in improvising and provide infrastructure for what we are best at to our users.

@kaliju: Yes!! I was just about to ask how it is different - but I really like the way you are thinking and perhaps this is what sets it apart from others to start with; the approach to treat the whole cryptosphere with respect and users in mind.

Meet Dhruv: Ha-ha!! Thank you so much @kaliju. Still I don't want users to believe in the big golden words we say but I want them to experience PEXO. I guess no exchange asks for user’s feedback for how we do. As PEXO itself is a People's Exchange where our company's main pillars are transparency and provide one stop resolutions to our users.

Question 3:

When did PEXO come to exist?

Jayesh Thaker: We launched our Android based exchange on 11th April, however, we are in development of iOS and Web Version too.

Question 4:

Very uncommon to have a mobile exchange first!! Does this have anything to do with the specific market that PEXO is targeting?

Jayesh Thaker: At this moment we are serving to Indian crypto community, but in a couple of months, we will open a door for many countries.

Question 5:

I'm in South Korea and 98% of people here are mobile-first consumers. Is India also mainly mobile-first nation, for those like me who are curious to know :)

Meet Dhruv: Yes indeed! India is growing in terms of technology and converting everyone into being digitalized. We don't see much of users especially crypto users who like to log in to a website and trade. Being a tech lover too!! I would like to approach a mobile friendly app first rather than going on websites.

@kaliju: I personally think it's important to understand that crypto sphere is so large and vast that no single standard of how things or companies operate can be applied to a specific market. They're all different and it's nice to see startups like PEXO having a solid understanding of this.

Jayesh Thaker: As far as I know, over 460 million internet users, India is the second largest online market, ranked only behind China. By 2021, there will be about 635.8 million internet users in India. Despite the large base of internet users in India, only 26 percent of the Indian population accessed the internet in 2015. This is a significant increase in comparison to the previous years, considering the internet penetration rate in India stood at about 10 percent in 2011. Furthermore, men dominated internet usage in India with 71 percent to women’s 29 percent. Moreover, from above statistic, 26 to 29% uses mobile phones for Internet, so defiantly launching a Mobile app is a good idea to serve the crypto community.

@kaliju: The future is bright! Interesting statistics many can salivate over. I learned something new today, thank you for sharing!

Question 6:

So here's what people really want to know: The RBI's recent crackdown on crypto. How do you plan to function with limits where bank withdrawals and deposits will not be supported?

Meet Dhruv: Well firstly, it’s a P2P business which cannot be banned. However there are different ways trader’s approaches to trade like crypto to crypto trading or escrow services like local bitcoin where a lot of scams happen. Now being a crypto enthusiast and trader myself I understand the sentiments of trader who loves trading and cash out their profit on timely basis. Now answer to this question is we will be standing till the last day of ban and once it gets banned we have ways but still under review. So once it’s decided we will let you all know.

@kaliju: Fair enough. Love the transparency and honesty to these complex matters.

Question 7:

In India, numerous exchanges opened up in the last six months, It's been claimed that most of these are by recent IIT (Indian Institute of Technology) pass out guys, having no prior experience of business and let alone running a crypto exchange.

Jayesh Thaker: We are X employee of one of the Top Exchange in India, which I would not disclose name as per the policy, rest assured we are deep down in to this :)

Question 8:

What is the realistic/monetary value you could put on PEXO tokens that you are giving to your users? You guys don't have the max no. of tokens that would be issued and no roadmap on when will it be issued. When would trading begin?

Meet Dhruv: Initially, we are giving PEXO tokens to the users who have the account verified with KYC. The intention of giving away PEXO is to gain the trust of the crypto community. The role of PEXO coin is still under review phase and will be decided soon. All users who claimed PEXO’s will be notified via SMS and email once it’s decided. Stay tuned and keep exploring PEXO ;)

Question 9:

We learned about few Indian exchanges that were planning to move overseas for continued operations after the RBI's Circular came. Do you have any such plans?

Meet Dhruv: Yes! We might move because we too don't believe in giving escrow or crypto to crypto trading. We would like to be the supply of the demand. So yes we might.

Question 10:

So what is PEXO token? Tell us about your upcoming promotional event "trader of the month." How it will be beneficial to Indian traders?

Meet Dhruv: PEXO tokens are just a token give away to win the trust of the community. Also it is still under review to how to introduce PEXO tokens which benefits to our users. So it will be declared soon. Event details in the banner:

Question 11:

I'm a trader myself and like trading on the go. Few apps and official exchange platforms have integrated trading tools. So will you be adding some tools for traders?

Meet Dhruv: Yes candle stick charts and some pro tools are under development and will be onboard soon.

Question 12:

Can you tell us about listing criteria for a token? What is the process? How you select the coin or token to be listed. What is your review process?

Meet Dhruv: Well, taking the concerns on mind we check the popularity and demand of the users along with the motto of the coin. Every crypto was launched for some purpose. We review those purpose and as I said PEXO itself is People's Exchange so we introduce as per the demand of our users too!!

Question 13:

Just checked about your INR deposits! You have tied up with PAYTM payment banks. A bank which doesn't have any physical branch in India! Also the PAYTM account belongs to Dr. Jay. Who is Dr. Jay?

Meet Dhruv: Yes because it was taking a bit of a time to open a bank account because of the current scenario in India. However we have tied up with banks and account details will be soon available. Jayesh Thaker, founder at PEXO, was a doctor by profession before he saw the power of cryptos changing world.

Question 14:

Currently you have only ripple and litecoin, in future you would add Bitcoin, Bitcoin cash and Ethereum. Why so far behind?
Meet Dhruv: Yes we are way to behind because we are actually working on our infrastructure by how much less confirmations users can quickly review coins and send coins to fulfill their trades and come out with flying colors of profit.

@askmecryptos team: We are in communication with official teams of various solid crypto projects. So can we communicate your/their interest to them/you as well?

Meet Dhruv: Sure we will be glad to communicate with lovers of crypto.

Question 15:

Are there any specific priority lists for countries that you want to serve besides India?

Meet Dhruv: As of now! only for India. In love of India.

Question 16:

Why have you decided to call it "PEXO"? :) I really like the way it sounds, it has a good ring to it. What's the history behind the name, for your true fans :)

Meet Dhruv: People's Exchange!!

Question 17:

It seems you guys still on planning and implementation phase.

Meet Dhruv: Our main focus as of now is to launch coins as user wants to trade. And side by side we will be coming up with the use of PEXO tokens as well. Loads of things we have decided and coming up at PEXO. It will be introduced soon.

Question 18:

Users are asking me to please request complete API access to PEXO - no other Indian exchange has this feature and that would help greatly if PEXO was the first to do it. I personally use API access to the exchanges I participate in all the time so I can see how this is important to many.

Jayesh Thaker: we would love to provide it, but as of now it's really premature to announce such feature, however, we will take it in consideration as no one provides in India, and that's what prick us, we love to provide what no one does :) This is how Demand Supply Fill.

/Final words of the session:

@kaliju: Okay guys! That’s about all the time we have for this Q&A and I believe we are satisfied with the answers provided so far. Thank you Jayesh Thaker and Meet Dhruv - you're doing great and we hope you keep us updated on your further developments.

@askmecrypto team: It was really amazing talking to you. Thank you so much for answering our questions in such a transparent way. We really look forward to your app and its development. And definitely we’d be joining you guys on PEXO. Thank you so much once again. And we @askmecrypto wish your team all the best for future.

Meet Dhruv: Thank you all for having us and sharing your valuable times with us. Thank you so much. Really needed the luck and prayers from you all!! Means a lot!!

Jayesh Thaker: Thank you so much. For wonderful Q&A, lovely session, do let us know if you still have any question on our telegram or Twitter I would request all of you follow us on Twitter; we will share all upcoming details and roadmap:
https://twitter.com/VegGujju
https://twitter.com/MEETDHRUVE
https://twitter.com/PEXOSupport

We felt great communicating with the Official PEXO team. And we are satisfied with their transparent and trader focused approach. Share with us your experiences using the PEXO trading app. Can the PEXO token be huge like BNB, KCS or other exchange tokens? Write to us in our discord and/or telegram and join for our upcoming free crypto giveaway contest!

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