CoinDCX is the first cryptocurrency going to be planning to go public listing. Co-founder Neeraj Khandelwal said that we are planning to try for an IPO(Initial Public Offering). An IPO(Initial Public Offering) means a private company converts its status into Public by sharing its stocks with the Public.
The CoinDCX company was founded in 2018 when it onboarded, it was more than 3.5 million users. It became the first Indian cryptocurrency exchange to achieve unicorn status. When Facebook co-founder Eduardo Saverin’s funded B Capital, its value raised from $ 1.1 billion to $90 million.
A company that offers IPO means it provides its share at Public enlarge, giving the company greater strength and expansion to achieve its goal.
When a private company converted into Public, its shares become worth the public trading price. The company includes some special provisions for private to public share ownership.
An IPO has two parts first is the pre-marketing phase of the offering, while the second is the initial public offering itself.
Indian Crypto Unicorn CoinDcx plans for IPO to make this company public, but for the Indian Government to pass regulations bills for cryptocurrency to make this concept legal. Facebook co-founder Eduardo Saverin’s B Capital Group, Coinbase, Polychain Capital, Block one, and Jump Capital invested funds that gave this company backup.
In India, the cryptocurrency concept is not legal because it’s creating destructive impacts on small retailers and going this thing in the wrong direction. In this concept, money transaction is end-to-end encrypted, with no middle man in between this transaction.
In short, if money is transacted for any illegal purpose, no one can detect who transacted to whom and how much money was transferred. That is why the Indian Government was going to make regulations so citizens could avail this procedure hassle-free and innocent people can save from its hacking and claim if any difficulty comes while using. Recently, Turkey banned cryptocurrency because there were illegitimate and illegal uses of money.
However, it is highly used globally because it is straightforward to use and in a second money transaction from one person to another. Today, people are using cryptocurrency for the share market and making money.
Coindcx is the first which going to the Public at enlarge. Co-founder Neeraj Khandelwal announced to convert the industry into a public enterprise that’s why thinking for IPO but waiting for the government decision, which may be decided in this winter session of parliament.
Although, this concept in India can make some trouble in the economy if people do not understand the pros and cons. So, it is essential for the nation and not even nation but also every user what is correct and how it will benefit in the future.
Significantly, India is already facing corruption and black money marketing, and if it comes with no regulations, it will assist the criminals. So, the idea of crypto can make a revolutionary change in the country but firstly, understand it’s a procedure and go through all the aspects of this concept.
Read More : CoinDCX – India’s First Crypto Exchange Startup making Investing Simple
