CoinSwitch Kuber achieves one crore users in 15 months
By MYBRANDBOOK
Within 15 months of commencing operations, CoinSwitch Kuber has reached the mark of one crore users and has become India's largest crypto exchange, amid the growing crypto craze in the country. The company stated that its success is due to its simplicity and convenience.
The platform operates under BitCipher Labs LLP which mentioned that 7 million of its registered users are active members with a monthly transaction volume of Rs 15,138 crore.
The average monthly investment on the platform is about Rs 9,000 per user.
“In 2020, the crypto industry witnessed a whopping 200-300% month-on-month growth inspite of the raging pandemic. We launched CoinSwitch Kuber in India during the lockdown in June and onboarded over 1 million users in just six months. The journey from 1 million to 10 million has taken us just 9 months,” Ashish Singhal, co-founder and CEO, CoinSwitch Kuber, said.
“We aim to accelerate this growth by offering continued simplicity, security, the best rates and experience to our users,” he added.
The company has observed that 75% of its total users being aged between 18 and 35.
The average age of the users on the platform is 24 and the platform is available in over 4,000 cities. Also, more than half of the platform’s user base is from Tier 2 and 3 cities. The average monthly investment from a Tier 1 user continues to be higher than that seen in Tier 2 and 3 regions.
“CoinSwitch Kuber is on a mission to bring financial freedom to all Indians by democratising crypto investments and eliminating all complexities from the process of crypto buying and selling. CoinSwitch Kuber has educational crypto content on the platform itself, ensuring that both novice and experienced investors make informed decisions,” Singhal underlined.
The latest milestone for CoinSwitch comes amid reports of the platform raising a new financing round at a $2 billion valuation. If that happens, CoinSwitch will be India's second unicorn in the crypto space after CoinDCX.
TAC Security becomes Cyber Security Assessor for the App Defen
The cybersecurity company, TAC Security has been selected as a key Cyber ...
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
BHARAT ELECTRONICS LTD.
HAVELLS INDIA LTD.
MICROMAX INFORMATICS LTD.
Technology Icons Of India 2023: Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla’s return to Vodafon...
Technology Icons Of India 2023: Rajiv Srivastava
Rajiv Srivastava is the Managing Director of Redington Group. With 35 ...
Technology Icons Of India 2023: Debjani Ghosh
Debjani Ghosh is the first woman president of NASSCOM (the umbrella bo...
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
IVALUE INFOSOLUTIONS PVT. LTD.
: iValue Info Solutions is a value added distributor, provides solutio...