India’s largest crypto exchange CoinDCX has rolled out CoinDCX Go, a new app that will enable more crypto adoption. The exchange is eyeing massive crypto adoption especially among new investors who are looking to enter the crypto industry. The plan is to bring 50 million Indians onboard into the world of cryptocurrency investment.
CoinDCX will be powered by a simple user-interface and other features to make it scalable for users to invest in Bitcoin (BTC) and other cryptocurrencies.
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Co-founder and chief executive officer of the exchange Sumit Gupta stated that the company said the app will offer a quick check-out and check-in trading experience.
The app also appeals to new crypto investors, as it will enable them to trade smaller denominations of 14 of the industry’s top assets. Users will be able to buy these cryptos within the time they finish a cup of tea or coffee, he added.
Rs 100 crore already raised for the project
The launch is coming after the third round of funding last year raised Rs 100 crore (about $13.85 million), with blockchain software developer Block.one leading the round.
The CoinDCX Go app was developed after a survey the developers conducted in the country revealing that close to 60% of the Indian population are finding it very difficult to invest in crypto.
The majority of the respondents stated that a digital barrier and lack of a conducive environment are the two major reasons for the difficult experience.
The app’s user interface (UI) is designed in a way that new users will not find it difficult to use the app.
Gupta also noted that the app uses a secured AL-ML algorithm to keep the app safe. Also, all funds will be insured by top global custodians to keep the users’ funds safe.