Monday, April 12, 2021

Graduates, IT Professionals Are The Key Crypto Investors In Karnataka: CoinDCX Report

* CoinDCX introduces CoinDCX Go for new users eyeing investment in cryptocurrency

As per the internal data of CoinDCX majority of investors investing in cryptocurrency in Karnataka are graduates and working IT professionals. The company has witnessed spike in investments in cryptocurrency from the state of Karnataka. The data further states that large section of the investors fall under the age of 35. To ensure early adopters of cryptocurrency do not suffer fraud, CoinDCX has introduced CoinDCX Go, an easy investment platform in crypto backed by secured features.

As per Sumit Gupta, CEO CoinDCX, Bengaluru, Chennai and Hyderabad are some of the cities witnessing a rise in investment into crypto assets. Women from these cities are also increasingly investing in crypto assets, almost contributing to around 20% of the pie chart.

CoinDCX, via its recently launched app CoinDCX Go, is trying to bridge the gap between those challenged by knowledge on crypto and those concerned by their investments' safety and security. CoinDCX Go app is available for Android and IoS devices and has been downloaded more than 1,50,000 times since its launch is meant for new users to come on board the crypto space.

A user can buy or sell crypto on the app while quickly navigating through its secured backdrop and complete transaction on the platform as he finishes his coffee or tea. The app only features the very best of 14 out of some 4000+ crypto assets that exist in the market today.

The CoinDCX Go App incorporates a 7M framework- a stringent path to list selected crypto assets - while considering the Indian government's concern to safeguard investors. 7M framework consists of Model, Mechanics, Management, Market, Motivation, Momentum and Money. This framework's philosophy ensures that new crypto investors only invest in the safest and the best crypto assets.

Emphasising rising crypto investors in Karnataka, Neeraj Agarwal, Co-Founder, CoinDCX, said, "Ensuring safety and security is our topmost priority. CoinDCX has partnered with Bitgo, the most trusted crypto custodian globally, to ensure users' crypto funds are completely safe and insured on the Go app. Besides, CoinDCX also partnered with Onfido to protect users against user identification fraud last year."

The crypto industry has seen a significant jump in business since the pandemic started. More and more global investment firms and investors are beginning to invest in crypto assets in the last few months. In all of this, Bitcoin is leading the race. Today it has a market valuation of over USD 1.3 trillion. Globally many economists and investors view Bitcoin as digital gold. 

About CoinDCX

CoinDCX is India’s largest and safest cryptocurrency exchange and top liquidity aggregator in the world. The exchange has instant deposit and withdrawal facilities. The versatile wallet structure provides the best fee structure in the industry. Established in 2018, the exchange is today deemed by many market participants as India’s most trustworthy cryptocurrency exchange.

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