As on 10th August, the value of cryptocurrency exchange CoinDCX had raised to $90 Million , where it was also valued at $1.1Billion by the Facebook co-founder Eduarduo Saverin’s fund B Capital. This is how, crypto unicorn has made its position on the top in India. Where private startup’s have been valued around billion dollars, even though there in is no regulatory security and speculative market in its start of initial five months of the year.
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CoinDCX Popularity
The investors which were already involved in using CoinDCX as their trading base, invested in it and those investors were Coinbase, Polychain Capital, Block.one, Jump Capital, etc. Therefore at present,CoinDCX is having 3.5 Million users and so has decided to utilised the money so raised for customer awareness campaigns.
To this, Sumit Gupta (Co-founder and CEO) has profoundly said that they would be joining hands to enter into partnership with Fintech players for expanding crypto investor base. In addition to this, they will also set up Research and Development facility, would join hands with government so as to attain favourable regulations, with the aid of public they would strengthen policy conversations and would increase hiring initiatives as well.
Facilities of CoinDCX
CoinDCX in addition to its basic feature of exchange; serving various retail investors, it also facilitates trading and lending services for its esteemed customers. Where traders are having blockchain academy for education and global trading base.
Conclusion
Although India has featured growth in cryptocurrencies and digital assets also, but very few platforms are there providing security, efficiency and compliance to the needs of its investors. Crypto Exchanges actually are the profitable business platform, which attract investors depending on their features for trading, where CoinDCX is one such exchange which doesn’t open ups it’s profit ratios or revenue for any reason.
Therefore, it is clear to you from the above information that CoinDCX has become successful India’s first crypto unicorn and has gained popularity as a platform of exchange.
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