Back in 2017, CoinSwitch was started by three friends, Ashish Singhal, Govind Soni, and Vimal Sagar to make cryptocurrency trading a cakewalk in India. Since its inception, Coin Switch has offered more than 300 digital tokens and 45,000 currency pairs. The app provides an easy-to-access and highly immersive user interface to its customers. With an instant withdrawal option, the app makes it easier for the users to cash them out and earn profits.
|CoinSwitch Founders – Ashish Singhal, Govind Soni, and Vimal Sagar|
Ashish Singhal is the founder and CEO of CoinSwitch. He previously worked at companies like Reap Benefit, Urban Tailor, Amazon, Microsoft, CRUXPay, and more. Ashish completed his graduation in engineering from Netaji Subhas Institute of Technology, Dwarka.
CoinSwitch launch in India
CoinSwitch was launched in June 2020, as an Indian cryptocurrency trading platform. It hit the target of 100,000 user sign-ups before its official launch, and it also received remarkable investments worth over ₹ 2,000 crores. Currently, the app has more than 10 million registered users with a daily trading volume of over $5 billion. CoinSwitch raised $15 million in a series of funding from Ribbit Capital, Paradigm, and Sequoia Capital in 2021.
CoinSwitch also launched a debut billboard campaign on national television about cryptocurrency platforms. The campaign was aired to spread awareness about cryptocurrencies in a household term.
What is unique about Coin Switch
CoinSwitch’s interface is simple and easy to use. Anyone can start investing in cryptocurrencies with a couple of clicks. The app does not charge any fees which makes trading more lucrative. It offers a highly secure and fast money withdrawal system within the account.
There was a growing demand amongst the traders to access cryptocurrency trading on their mobile devices. CoinSwitch took the opportunity to launch its trading platform on mobile phones. The app not only offers an ideal solution but also sets a benchmark for other cryptocurrency trading mobile apps.
Coin Switch has a market share of nearly 60 percent. Many users of the app are young and belong to tier-II and tier-III cities. The major chunk of the users is investing in cryptocurrency for the first time.