Cryptocurrencies are the newest focus area for investment globally. You can’t interact with someone these days that doesn’t mention cryptocurrency investing at some point. Currently, the global cryptocurrency market is estimated at $2 trillion, with over 11,000 cryptocurrencies traded. Investing in cryptocurrencies has grown exponentially in India, becoming one of the latest ways to grow your wealth.
how it all started?
In June 2020, when CoinSwitch Kuber was introduced in India, urban Indians were already aware of cryptocurrencies and were actively trading in them. However, the trading platforms were not very user-friendly from a new investor’s point of view. CoinSwitch leverages its years of international cryptocurrency experience to bring a simple, fast and secure cryptocurrency trading platform to India – CoinSwitch Kuber. This completely changed the game and inspired millions of Indians to invest in cryptocurrencies. Many of these were first-time investments, with cryptocurrencies being his first ever.
How CoinSwitch Kuber Revolutionized Cryptocurrency Investing in India?
CoinSwitch is India’s largest cryptocurrency trading platform in terms of valuation, and one of the top five finance apps in India. One of the major reasons for the success of CoinSwitch Kuber in India is the simplicity of the platform. Everything from signing up for a new account to trading in cryptocurrencies is a seamless process.
That’s why millions of Indians rely on CoinSwitch Kuber for their daily cryptocurrency trades. The platform has made it extremely easy for Indians to buy and sell digital tokens known as cryptocurrencies from the comfort of their homes. The company’s web and mobile interfaces are extremely easy to understand, secure and super fast.
The company was quick to attract the attention of well-known global investors. Earlier this year, CoinSwitch raised $15 million in Series A funding from Ribbit Capital, Sequoia Capital, and Paradigm. In its Series B funding round, CoinSwitch raised another $25 million from Tiger Global Management in April this year, marking the investment firm’s first investment in an Indian cryptocurrency startup.
Recently, the company achieved unicorn status after raising $260 million in Series-C funding. Global investment giants such as Coinbase and Andreessen Horowitz (a16z) have placed their trust in CoinSwitch Kuber. The company plans to use the funding to raise awareness of cryptocurrencies as an asset class in India. In return for the effort, the company has aired a few brand films with the tagline “Kuch Toh Badalega”. Taking it a step further, it has also partnered with Ranveer Singh to be the face of the brand.
How popular is CoinSwitch Kuber in India?
CoinSwitch Kuber, with its strong vision of bringing cryptocurrency to millions of Indians, has joined over 10 million Indian users in just 15 months since its launch. Currently, there are over 7 million active users on the platform who regularly trade in cryptocurrencies. Due to the fact that there are a total of 15 million crypto investors in India, CoinSwitch has a significant share of India’s cryptocurrency traders.
CoinSwitch Kuber has a presence in over 3,200 cities and towns across the country. The growth in crypto adoption in India is among the largest in the world and will continue to grow. CoinSwitch Kuber promises to continue improving its simplicity while offering high security and the best cryptocurrency rates and user experience. A lot of first time cryptocurrency investors are actively using the platform every day which shows how young Indians are sticking to cryptocurrencies as their first investment asset.
What will happen next?
CoinSwitch plans to invest the funds successfully raised in developing its technology, security, compliance and product capabilities in the near future. The company intends to be the leading cryptocurrency platform for Indians.
Going by the adoption rates, you can easily rely on CoinSwitch’s highly accessible and user-friendly cryptocurrency trading platform. As they say, ‘To see is to believe, set up an account today’ coinswitch kuber To find out how simple and easy it is to start trading in cryptocurrencies in India.