June 1st, 2020, marked the official launch of CoinSwitch Kuber for Indian users to buy and sell cryptocurrencies using Indian rupees (INR).
Four months on, we want to take this opportunity to reflect on the success so far…
With unprecedented demand for crypto products in India, CoinSwitch Kuber launched at a significant time for the market. Proof of this demand alone was the staggering response to the pre-launch when an original target of 25,000 user sign-ups was extended to 100,000 users following overwhelmingly positive interest. This product has filled the demand for a cryptocurrency exchange mobile application, serving only users in India.
This platform stands out as truly unique due to its simple user experience, which lowers the barrier to entry for new users. CoinSwitch Kuber ensures that you can buy cryptocurrencies at the best possible rates by aggregating liquidity across all Indian exchanges. This enables users to buy, sell, and trade over 100 cryptocurrencies instantly with INR.
CoinSwitch Kuber’s Success To date
Since its launch in June, the success has been remarkable.
Following the 100,000 user sign-ups during the pre-launch period, there are now over 3 lakh registered users on the platform in the first 100 days of the launch. The current daily trading volume is Rs 10 cr.
CoinSwitch Kuber represents half of the entire trading volume of CoinSwitch’s global trading figures in just the past few months – this is a clear indication of the bumper appetite for cryptocurrencies in India.
The simplicity of the CoinSwitch Kuber user experience is comparable to that of hailing a ride on Uber, ordering food over Swiggy — India’s largest and highest-valued online food ordering and delivery platform — or buying items on Amazon. The philosophy of achieving goals in just a few simple clicks is mirrored on CoinSwitch Kuber, designed for user convenience.
Here is a glimpse of how easy to buy crypto on CoinSwitch Kuber:
CoinSwitch Kuber is proud to support all major currencies for Indian users to buy and sell using Indian Rupees (INR). Over the past four months, we have been actively updating our product, and some particular highlights include:
- Compound (COMP) going live on the CoinSwitch Kuber app on July 20th
- The addition of 10 new DeFi tokens going live on CoinSwitch Kuber on August 19th
- Cardano (ADA) going live on September 1st
- UNISWAP going live on CoinSwitch Kuber on September 18th
- Listed over 15 coins in the last one month
Kuber’s Referral Program
Another highlight in our story so far was the launch of our referral program for CoinSwitch Kuber users on July 22nd.
This was a highly sought after and much-awaited program. For simply referring a friend, both the existing and the new users received INR 50 worth of Bitcoin each. This program caused user numbers to increase by 5 times – jumping from 15,000 to 75,000 users in just three days.
Can I Still Download The CoinSwitch Kuber App?
All you have to do is download the app, set up an account using your phone number, and complete the KYC process in the app.
Upon completion of the KYC process, you can link your bank account to the platform, and you are then ready to begin depositing INR to buy and sell any of the 100+ currencies supported by CoinSwitch at the best rates in the industry – it’s just that easy!
Storing, sending, and receiving cryptocurrencies through your account are other features included in the CoinSwitch Kuber app.
CoinSwitch Kuber’s Impact On Crypto Ecosystem In India
CoinSwitch Kuber has successfully brought a simple crypto user experience for the Indian crypto trading market. We are excited to be at the forefront of cryptocurrency adoption in this growing market.
We understand how a user-friendly, simplified interface is the key to improving mainstream adoption, and CoinSwitch Kuber is proud to be doing just that.
We have removed traditional complexities and replaced them with simple user experience, appealing to even those completely unfamiliar with crypto.
Amid a tumultuous period of legislative developments and a growing appetite for crypto in India, we are proud to be driving crypto adoption in India by providing a simple and accessible route to space.
What Is Next For CoinSwitch Kuber?
Right now, the CoinSwitch Kuber app is available on Android. Soon, we plan to expand this and offer the app for iOS users.
Further to this, we are always looking for ways to improve our user experience even more, and will soon provide the best pre-purchase and post-purchase experience to our users by introducing social trading, limit orders & price alerts.
We are taking steps to become a one-stop investment destination for the people of India, starting out with crypto firstly and then expanding to other investment instruments.
We have a number of exciting announcements in the pipeline to this effect. The future is bright for CoinSwitch Kuber, and we can’t wait to share some more exciting updates very soon. Stay tuned!
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
Table of content
Subscribe to Our Newsletter with exclusive content.