Cryptocurrency is a popular currency not only for users but also for investors and startups. However, it may not be one of the currencies recommended by Indian regulators. This startup was founded and started by the three best friends, Govind Soni (CTO), Vimal Sagar (COO), and Ashish Singhal, who worked together to create one of these startups. Let's start our journey and see how these three friends have turned this startup into global cryptocurrency collectors!
How Did CoinSwitch Kuber Begin?
CoinSwitch Kuber was introduced by a big trio in 2017. CoinSwitch Kuber serves as a global cryptocurrency exchange aggregator with over 300 coins and over 45,000 currency pairs. Govind Soni, Vimal Sagar, and Ashish Singhal have been friends for 13 years and have worked with companies like Amazon, Microsoft, and Zynga. He was also involved in several hackathons. Thanks to his technical talent, he has won many hacking competitions in India hosted by Sequoia, Google, Amazon, and LinkedIn. They recently launched CoinSwitch Kuber, a specific crypto platform for INR in India in June 2020. The platform supports hundreds of cryptocurrencies for users to buy and sell in Indian Rupees. This startup is based in Bangalore. Co-founder Ashish claims that more than $1 million transactions had been processed within a month's launchand and was also funded by Sequoia Capital. Today, they are successfully trading more than $300 million a month.
CoinSwitch Funding
CoinSwitch successfully raised $15 million (Rs 190 cores) in a funding round with 4 investors. The $15 million budget was led by San Francisco-based cryptocurrency investment firm Ribbit Capital and Paradigm. Existing investors such as Sequoia India Capital and Kunal Shah (founder of CRED) also participated in this first round. As the company stated, the funds raised will be used to further improve security, compliance, product, and technology capabilities, and build a brand perspective to become the premier cryptocurrency investment platform.
Why Is CoinSwitch The Best Option For Crypto-Investments In India?
- Low Trading Fees: CoinSwitch offers investors low transaction fees. These costs are very useful for investors when trading. Also, there are no hidden costs.
- Security of Funds: The most important thing in cryptocurrency trading is to ensure the safety of your funds. You need to know if your money is safe. According to the Deccan Herald, CoinSwitch is the most stable, reliable, and well-funded company to protect investors. However, we recommend that you visit the website to learn more about the company and make an investment plan. You can also take advantage of all the advanced features to make it a secure investment platform. CoinSwitch ensures that no frauds should happen as they allow only the most popular tokens.
- Easy Interface: One of the main features of being a cryptocurrency trader is choosing the right platform. Accessing the CoinSwitch interface is simple, smooth, and fast. It can be managed by both business people and newcomers to the world of investing. CoinSwitch's customer service is also very helpful and responsive. If you have a question, you can find a solution right away.
- Support of the Tokens: The fourth advantage of CoinSwitch is that it supports over 100 cryptocurrencies, unlike most exchanges that only support top cryptocurrencies like Bitcoin and Ethereum. Not only this but with the help of this software you can manage the risk better.
Top Competitors Of CoinSwitch
- ZebPay
- CoinDcx
- Unocoin
- WazirX
Challenges Ahead For CoinSwitch
India is skeptical of the current cryptocurrency boom. Cryptocurrencies were recently banned. For this reason, Ashish said he will continue to innovate and pursue safe and easy cryptocurrency investments. The only challenge is to educate users about the Indian crypto ecosystem. Now let's see what's going to happen with startups like CoinSwitch on the other hand, with banned programs on one side. The capacity of Coinswitch has been steadily increasing.
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