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India’s Largest Cryptocurrency Exchange, CoinDCX, celebrates its 3 Year Anniversary with a Walk Down Memory Lane

Snapshot:

  • CoinDCX turns 3!
  • Since our launch in 2018, we have witnessed multiple disruptions within the Indian crypto ecosystem and have been quick to imbibe the change we needed.
  • The success of CoinDCX boils down to our community members and our simple, secure and compliant products.

Birthdays are always special. It is that one particular day in a year that allows us to recapitulate all that we have been able to achieve or miss in the past year. As we, CoinDCX, turn 3 years old today, let us take a ride down memory lane and reiterate our journey and commitment towards making Crypto More Accessible to the Indian audience. 

India’s Fintech Industry has always had experiences pertaining to major disruptions. Surprisingly in 2020, after the Supreme Court squashed RBI’s banking ban on crypto, there has been an upsurge in financial literacy amongst Indians. Topping that, the pandemic era has just given the window they needed to learn all about the biggest asset class. Crypto assets like Bitcoin, Ethereum and many more have seen a huge demand as an alternate investment option not just in the global markets but also in the Indian crypto space! Following the achievements and popularity of the crypto space in 2020, we entered 2021 defining it as a year for the Indian crypto industry and us at CoinDCX as well! We reached a team strength of 115 members from 80 in just 3 months. 

We along with our community members are witnessing and are being a part of the most exciting revolution in the financial markets! More and more veteran publications and newspapers are producing headlines about finance 2.0 and how crypto and blockchain is on the journey of paving their path and shaping the future.  At CoinDCX, we are excited to be a part of this fintech revolution and are committed to empowering Indians by making crypto accessible to everyone.

Ever since our launch, our #TryCrypto narrative have been aiming and working towards driving crypto accessibility in India by:

  • providing free knowledge on blockchain technology.
  • making easy to use crypto-based technical products.
  • providing the best customer support and services.

We as an organization have grown from providing a simple way to buy and sell crypto, into something much bigger. We are a brand made in India, with a comprehensive platform that is contributing to the development of the Indian crypto economy. We aim to not only build a safe, secure and easily accessible crypto ecosystem but also push our limits and help make India a leader in it. 

To support our aim, we have been striving towards and delivering the best crypto products with industry-best security practices. One crucial element in all of it is our community members. The undying support from our ever-enthusiastic community drives us to better ourselves with every passing day.  Besides our communities, the success that we have been able to achieve in building CoinDCX boils down to 3 key strengths, 

1. SIMPLICITY

Each of our dedicated team members gives utmost importance towards making all our product simple to use. Being a pioneer in the crypto space, we know simplicity is the key to adoption. With every innovation from the CoinDCX staple, we aim to break the myth “Crypto is complex”. 

We take pride in our ability to create user experiences that are simple no matter the complexity of the underlying technology. That’s what we’re building for you. Our simple and user-friendly products have made us a primary choice for Indians to invest in crypto. We are humbled by the trust you have shown in us. CoinDCX now entertains roughly 150K, monthly users! 

Besides the unthinkable achievements, we at CoinDCX have held a track record of producing innovative solutions to all the problems which have appeared in front of the crypto traders not just in India, but also to our global audience. Some solutions that we have been able to provide in our journey thus far:

  • Due to low liquidity and restricted INR access in 2018, crypto trading was difficult. We made it simple by developing a Liquidity Aggregation Model.
  • When Peer-to-Peer trading became difficult in India in 2019, we made it easy by launching Insta, the fastest way to buy and sell crypto. 
  • We are still the 1st and only Indian crypto exchange to introduce Margin trading with up to 10x leverage on 250+ coins and futures with up to 15x leverage.
  • Crypto was deemed as a complex technology. Our audience found staking, proof of work, smart contracts, Lending, etc. difficult to decrypt. We launched DCX Learn, the largest crypto learning platform with many free courses and certifications.
  • We could make your first step into crypto easy by introducing CoinDCX Go, India’s Simplest Bitcoin App with over 150k users since its launch in January this year. 

Also read: Easiest app to invest in Bitcoin.

But creating a simple customer experience in this rapidly evolving Indian crypto economy also requires trust. This brings us to our second key strength point,

2. SECURITY

Ever since our launch, CoinDCX has made sure to be at the forefront of Security.  We take the security of digital assets and any private information stored within the platform very seriously. In our business, that has meant developing a heritage of security and safety protocols. We have curated our platform with industry-leading security protocols which are regularly tested to check any violations. Our team is dedicated to constantly audit and build upon existing protocols to ensure that our security is up-to-date and impenetrable. There’s a little more that’s crucial to this pillar of safety and security. 

Also read: A step-by-step guide to Security at CoinDCX. 

With CoinDCX, you don’t have to worry about losing your funds. All funds are insured and protected by BitGo’s 100 Million Dollar Insurance Policy. CoinDCX is also the 1st crypto platform in India to become ISO Certified, meaning all internal processes match the international standards of doing business. We also have the best OTC platform for Institutional Clients to execute large trades on Bitcoin to INR pairs in the most secure way.

Also read: 2FA blog.

Having set such strong foundations of safety, we’re confident to scale faster and meet the ever-growing demand for crypto in India. With a 3x month on month growth since the Supreme Court Verdict of 2020 and over 500 crores worth of monthly trading volumes, it’s important that India leads the way to a compliant-friendly crypto economy. And that brings us to our 3rd key strength,

3. COMPLIANCE

We are not exaggerating when we say we are the 1st crypto platform to enable an automated KYC process by partnering with Onfido. This has helped us securely verify more than 1.5 lakh applications without compromising on safety, speed and user experience. We pride ourselves on following top compliant protocols and have taken several steps to curb illegal activities by making sure we follow stringent and yet user-friendly compliant regulations. 

Also read: Rise of BTC investment in India.

CoinDCX’s culture of compliance has enabled us to be one of the pioneers in India to implement crypto AML monitoring. This has helped us to keep track of transactions made on the blockchain by our users, and flag illicit transactions to the team for appropriate action. The cryptocurrency having only 1% penetration in India, compared to the USA’s 10%, we believe the crypto space is still at its nascent stage and growing rapidly. 

To conclude, we have made sure to build our organisation on the basis of making crypto easy, simple and secure for you. We promise to stand by our commitment as we celebrate our 3rd year in the Crypto ecosystem. Looking forward to providing you with simpler solutions and more innovative products from our CoinDCX Suite. Keep an eye out for a surprise launch very soon! 

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