As always, before we start, let’s understand what cryptocurrency in layman’s word is. “when a currency uses digital files to complete transactions like as money, those currencies are known as Cryptocurrency.“
To know more about cryptocurrency, you can go through these articles on our website:
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As we know, cryptocurrency is a form of money, so it is pretty simple to trade in that as a people does in Shares and other currencies. Many platforms allow currency trade, and some of those are Indian brands, and ConDCX is one of the Unicorn out of those platforms.
About the CoinDCX company
The CoinDCX Company is a Singapore-based company that offers crypto-enabled financial services. The company is significantly changing the Indian digital money market by offering a cryptocurrency-based product by developing borderless financial services that ensure a more accessible and more straightforward flow of capital.
CoinDCX is a cryptocurrency exchange platform, and it was co-founded by Sumit Gupta and Neeraj Khandelwal in 2018. CoinDCX is India’s one of the largest cryptocurrency platforms.
CoinDCX launches on April 8, 2018, is designed to provide a user-friendly experience where users can access a wide range of financial products and services. CoinDCX offers these services with industry-leading security processes & insurance protection. The company is ISO certified.
Sumit Gupta and Neeraj Khandelwal co-founded the company.
Sumit Gupta (CEO)
Sumit Gupta is the CEO and co-founder at CoinDCX. He started the company after completing his education. Sumit Gupta invented a location-based online market for the first time in India, and it became a million-dollar startup in a year. He believes that educating people with easy access to cryptocurrency will lead to attracting ordinary people towards cryptocurrency.
Neeraj Khandelwal (CTO)
Neeraj Khandelwal is the Chief Technology Officer and co-founder at CoinDCX. He completed his graduation from the IIT Bombay in Electrical Engineering. He is a skilled engineer looking after and leads the technical development of all the CoinDCX Services.
Like the internet and mobiles did the way humanity functions, he believes Artificial Intelligence and Blockchain can do the same. Because of his technical leadership, DCX grew worldwide with different crypto instruments.
Read More: CoinSwitch – The Cryptocurrency Exchange Platform
The Business Model
Let’s understand how CoinDCX makes money. The company developed one-point access to trade and invested in all cryptocurrency instruments available in hundreds of markets. The company earns money by charging fees and commissions just like any other cryptocurrency exchange.
- Deposit Fees – charged on exchanging currencies
- Withdrawal fees
- Trading commissions - 0.01% of the overall transaction
- Listing fees
“What I like in CoinDCX is that I can withdraw my money very quick and its getting deposited in my account within minutes.”
Trader – Rajeshwara Rao Valavala
Coin DCX Funding
Recently CoinDCX raised $90 million as Series C funds. The funding was led by 5 investors, B Capital Group, and existing investors Coinbase Ventures, Polychain Capital, Block. One, and Jump Capital.
With this news, the company became the first Indian cryptocurrency exchange to achieve unicorn status. as per the promoters, the fund “will be used predominantly to further our ambition of ensuring that crypto awareness is spread over the length and breadth of India.”
This shows the company is eagerly willing to make aware Indian people of cryptocurrency. Hence they hired Mr. Amitabh Bachchan as their first-ever Brand Ambassador.
Conclusion
CoinDCX is moving towards being the primary way to invest in cryptocurrency. Indian people should also need to get ready for the next revolution in the currency market and make money in cryptocurrency.
Read more: All you need to know about the Crypto Gaming Market 2021
