Day by day it's becoming increasingly harder to ignore the growing rise of Bitcoin and other cryptocurrencies around the world. Investing in cryptocurrencies is one of the newest ways to grow your wealth. But how do you go about it? How do you pick a cryptocurrency exchange that you can trust?
If you're looking to buy or sell cryptocurrencies, you'll have to use a cryptocurrency exchange. Such exchanges work like traditional stockbroking platforms, but instead, let you buy and sell digital tokens also known as cryptocurrencies. An ideal cryptocurrency trading platform offers an easy to use interface and a secure overall platform. CoinSwitch is one such platform that makes it extremely easy to buy or sell Bitcoin or other popular cryptocurrencies from the comfort of your home.
Back in 2017, longtime friends Ashish Singhal, Govind Soni, and Vimal Sagar kicked off CoinSwitch with a vision to make cryptocurrency trading as simple as ordering food online. When it was started, CoinSwitch offered more than 300 digital tokens and 45,000 currency pairs. CoinSwitch was born to ensure India doesn't miss out on the ongoing cryptocurrency revolution.
Ashish is currently the co-founder and CEO of CoinSwitch, and has previously worked at companies such as CRUXPay, Reap Benefit, Urban Tailor, Amazon, Microsoft, and others. He holds a degree from Netaji Subhas Institute of Technology. His vision to open a powerful yet user-friendly cryptocurrency exchange trading platform resulted in the launch of CoinSwitch.
In its initial days, CoinSwitch offered 75 digital tokens and a great user interface to make cryptocurrency trading easier and faster. CoinSwitch continues to offer a highly immersive and easy-to-access user interface to lakhs of its currently active users. CoinSwitch also offered instant withdrawals to its users, making it easier for them to cash out their profits.
In June 2020, CoinSwitch launched its Indian cryptocurrency trading platform, hitting 100,000 user sign-ups during the pre-launch period and clocking investments worth over Rs. 2,000 crore. CoinSwitch now has more than 10 million registered users on its platform with a daily trading volume of over $5 billion. That's an impressive count, and shows how much people trust the cryptocurrency trading platform.
In another first, CoinSwitch was the first cryptocurrency platform to debut an ad campaign on national television. The campaign helped spread the word, making cryptocurrencies a household term. This sparked curiosity and led to more people being onboarded to the platform, enabling them to be a part of the global cryptocurrency revolution.
Earlier this year, CoinSwitch raised $15 million in series A funding from Ribbit Capital, Sequoia Capital, and Paradigm. The company went on to raise another $25 million from Tiger Global Management in April this year, marking the investment firm's first investment in an Indian cryptocurrency startup.
What sets CoinSwitch apart from its competitors is the simplicity of the platform. When it comes to cryptocurrency trading, more people are likely to sign up and invest in cryptocurrencies if the platform is easy to use. CoinSwitch makes things easier, faster, and more secure so that just about anyone without even prior trading know-how can start trading in cryptocurrencies. It's like ordering a cab on a mobile app or simply ordering food online.
CoinSwitch offers a simple user interface that makes it easy for anyone to start investing in cryptocurrencies in just a few clicks. Right from signing up for a new account to picking and trading cryptocurrencies, everything is fast, easy, and secure. The platform charges zero fees to users, making trading even more lucrative for users. CoinSwitch promises the best cryptocurrency rates on all the digital tokens that it currently offers. There are plenty of rewards available for traders using the platform.
Another useful feature that CoinSwitch offers is the ability to quickly and securely withdraw your earnings. When you're trading cryptocurrencies, it's essential to be able to park your earnings directly into your account sooner rather than later. CoinSwitch makes it not only easy but highly secure and faster to withdraw your money into your account.
CoinSwitch consistently works towards improving user experience, and promises to offer the best pre-purchase and post-purchase experience. The platform offers a set of innovative features, and plans to introduce more powerful new features to cryptocurrency traders in India in the coming months. CoinSwitch is undoubtedly a true one-stop investment solution for Indians looking to invest in cryptocurrencies. The platform intends to expand to other investment instruments as well.
Since India is a mobile-first market, CoinSwitch also introduced its trading platform on mobile devices. There was a growing demand amongst traders to be able to access a cryptocurrency trading platform on their mobile devices, and CoinSwitch not only offered an ideal solution, but also set a benchmark for one of the most useful cryptocurrency trading mobile apps ever. The app is open to users in India currently, and offers the same desktop-class cryptocurrency trading experience to users on mobile devices.
Thanks to its innovative set of offerings, CoinSwitch has over 90 lakh users in India and a market share of around 60 percent. A lot of the company's users are young, and come from tier-III and tier-II cities, with most of them being first-time cryptocurrency investors. CoinSwitch has several additional innovative products in the pipeline that will be released over the next few months.
There's no doubt CoinSwitch is, and will continue to remain India's leading cryptocurrency exchange platform. The company promises to innovate in the emerging asset class while onboarding a large number of enthusiastic Indians. It's an exciting time to be in the cryptocurrency market, and if you're still missing out on it, sign up for an account on CoinSwitch and get started right away!