Adoption of cryptocurrency has recently gathered steam in India, especially after the highest court in the country; the Supreme Court of India lifted the ban imposed by India’s Central Bank, Reserve Bank of India on banks and financial institutions to deal with cryptocurrency organizations. The decision has far-reaching implications on widening the adoption of cryptocurrency in the country.
It is also important to understand that the rate of cryptocurrency adoption can be greatly enhanced through the creation of an ecosystem in which the presence of reputable cryptocurrency exchanges can be of great significance. When it comes to the largest cryptocurrency exchange operational in India, the name of CoinDCX figured on the top of the list. The exchange has carved a special place for itself thanks to its unique features and state of the art technology that the platform has employed to provide exceptional trading services to cryptocurrency investors.
Owing to its unique features, CoinDCX has been able to attract the attention of global investors. In fact, just a couple of days before the exchange has announced that it has raised $3,000,000 in series-A funding. The money will be primarily used for the next round of product development, technology up-gradation, research projects, and marketing and communication activities.
Unlike some other cryptocurrency exchanges where the user interface is quite difficult and requires comprehensive training before one gets to understand the nitty-gritty of buying and selling experience, CoinDCX offers a very simple and easy to use trading interface. The inbuilt safety mechanisms make sure that you trade without any kind of fear of illegal hacking and to make the overall experience effortless; the cryptocurrency exchange offers a wide range of product and services options to choose from. In terms of the number of coins, you can choose from more than 250 coins. You can also avail the facility of leverage ( up to 6 times), which comes handy in case you lack the funds.
Thanks to the multi-authentication safety procedure adopted by the CoinDCX, safety always remains at the top of the priority list of the exchange. In addition, you get the facility of limitless trading without any limitation whatsoever. CoinDCX also provides the option of trading from your mobile phone or smart devices, which brings extra convenience to the table, especially for those professionals who are always on the go and like the convenience of their smart devices for doing most of their personal and professional work. If you are wondering what it takes to start trading at CoinDCX, then just follow a simple three-step procedure – sign up with CoinDCX, buy or deposit cryptocurrency, and start trading by selecting the digital currency of your choice.
Investors Education Initiatives
In order to support the adoption of cryptocurrency, it is important to make the people aware of digital coins and their utility. CoinDCX is quite aware of this requirement and has recently announced to invest $1.3 million in an initiative to educate the people about digital coins. The initiative named “TryCrypto” will use the allocated money to fund the educational institutions, conduct seminars, carry out roadshows, and hold meetings, etc., in order to make the people aware of how to invest in digital coins safely. Further, CoinDCX has also announced the launch of the country’s biggest Bitcoin trading competition, where participants get a chance to win prices of worth INR 6, 00,000.
It can be safely assumed that the adoption of cryptocurrency is going to rise in India and in order to reap the benefits, stakeholders must be able to provide a holistic ecosystem to the masses. CoinDCX is doing a commendable job in establishing the cryptocurrency ecosystem in India and its initiatives to educate investors about complexities of cryptocurrency trading is something that deserves special mention and applauds.