Cryptocurrencies are the hottest new area of focus for investments globally. You just cannot have a conversation with someone these days that doesn’t mention cryptocurrency investments at some point. Currently, the global cryptocurrency market is estimated at $2 trillion, with over 11,000 cryptocurrencies being traded all across. Investing in cryptocurrencies has quickly caught up 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. The trading platforms, however, weren’t very user-friendly from a new investor’s point of view. CoinSwitch used its thee-year international cryptocurrency experience to bring a simple, fast, and secure cryptocurrency trading platform to India – CoinSwitch Kuber. It changed the game entirely and brought millions of Indians into investing in cryptocurrencies. Several of these were first-time investments with cryptocurrencies being their first investment ever.
How CoinSwitch Kuber Revolutionised Cryptocurrency Investments in India?
CoinSwitch is the largest cryptocurrency trading platform in India in terms of valuation, and one of India’s top five finance apps. One of the key 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 lakhs 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, right 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 grab 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 attained unicorn status after raising its Series-C funding of $260 Million. Global investment giants namely Coinbase and Andreessen Horowitz (a16z) have placed their trust in CoinSwitch Kuber. The company plans to use the funding to raise awareness about cryptocurrency as an asset class in India. In lieu of the effort, the company has aired some brand films with the tagline “kuch toh badlega”. Taking a step ahead, 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 to bring cryptocurrencies to millions of Indians, has onboarded over 1 crore Indian users in just 15 months since its launch. Currently, there are over 7 million active users on the platform that trades in cryptocurrencies regularly. Owing to the fact that India has a total of 1.5 crore crypto investors, CoinSwitch seems to have a significant share of India’s cryptocurrency traders.
CoinSwitch Kuber has a presence in over 3,200 cities and towns across the country. The surge in crypto adoption in India is one of the biggest in the world and will continue to grow even further. 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 daily which shows how young Indians are sticking to cryptocurrencies as their first-ever investment asset.
CoinSwitch plans to invest the money it has successfully raised in developing its technology, security, compliance, and product capabilities in the near future. The company intends to become the leading cryptocurrency platform for Indians.
Going by the adoption rates, you can easily trust CoinSwitch’s highly accessible and user-friendly cryptocurrency trading platform. As they say, ‘seeing is believing, set up an account today on CoinSwitch Kuber to find out how simple and easy it is to start trading in cryptocurrencies in India.