In a bid to help novel investors adopt cryptocurrency as a potential asset class, CoinDCX has launched CoinDCX Go . The exchange eyes mass adoption among beginner investors in crypto especially millennial and Gen Z and aims to onboard 50 million Indians.
“Powered by multiple features and a simple user interface, CoinDCX Go, specially designed for novel crypto investors, offers quick check-in and check-out crypto trading experience,” the company said.
It enables users to operate on the cryptocurrency market with absolute ease and at one’s own convenience. CoinDCX Go was conceptualized following a joint survey we conducted the Mood of the Nation survey, which revealed nearly 60% of the Indian population found it extremely challenging to invest in crypto. The reasons cited in particular were lack of a conducive environment and a digital barrier to getting on board.
The User Interface (UI) has been designed to induct a new breed of first time users in mind. The systems of the platform are secured, with AI-ML algorithms, which is backed by a dedicated and efficient team to overview operations. Additionally, to bring a safety net for users, all the funds are insured by one of the best and well established global custodians operating in the market.
Sumit Gupta, CEO & co-founder, CoinDCX said, “The app will allow users to trade on smaller denominations for some of the best crypto assets. 14 tokens such as Bitcoin, Ethereum, Ripple, Litecoin are part of this parcel. Users will be able to buy these cryptos within the time they finish a cup of tea or coffee. The focus is to make users see merits in the industry by attention to details paid by operators like us by taking the simple steps of developing this app to address their pain points. Technical and Issue related resolution support will be provided round the clock for their users.”
Currently CoinDCX Go offers a range of tokens in INR pairs such as, Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB), Chainlink (LINK), EOS (EOS), Tether (USDT), Cardano (ADA), Stellar Lumens (XLM), Ripple (XRP), Basic Attention Token (BAT), Matic Network (MATIC), Tron (TRX) etc.
These tokens have been vetted by CoinDCX to ensure users are dealing only on the more stable and secured currencies while buying their first cryptocurrency. CoinDCX Go will offer round the clock support services.
Speaking from a development perspective of the app, Neeraj Khandelwal, Co-founder, CoinDCX said, “Most of the app users are in the age group 22 to 45. This app has been introduced to serve a simple purpose; remove the fear of technology, make the market numbers more understandable and provide the ability to make informed decisions in the crypto universe. A smart investor will regularly invest at least 1 percent of his disposable income for Bitcoins in his investment portfolio. People having faith in the future of technology should do the same. The app just makes the induction easy. Buying Bitcoin on CoinDCX Go will be as easy as using any of the popular apps such as WhatsApp, Instagram, Amazon, or booking your cab through Uber.”
The product is sturdy and has a lot of security features, backed by a robust system architecture. ‘Since our focus is on the newcomers of the crypto universe, a special emphasis has been placed on ensuring proper inputs are provided at every step, with users being updated about the industry on a regular basis.” adds Neeraj.
Currently, there are about 6 million Indians in crypto which is close to 0.5% of the total Indian population. CoinDCX Go allows first time crypto buyers to own cryptocurrency instantly without having to wait for orders to process and will charge 0 fee for deposit and withdrawals.
In yet another initiative to drive mass adoption of cryptocurrencies, the company invested $1.3 million in TryCrypto, its own initiative, which is working to make blockchain and cryptocurrency more accessible to mainstream users.