Majority of investors investing in cryptocurrency in Karnataka are graduates and working IT professionals, an internal data of cryptocurrency exchange CoinDCX showed.
The company has witnessed spike in investments in cryptocurrency from the state of Karnataka, it said.
The data further states that large section of the investors fall under the age of 35.
The company said that 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.\
“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 Chief Executive Officer Sumit Gupta said.
The company further said that via its recently launched app CoinDCX Go, it is trying to bridge the gap between those
challenged by knowledge on crypto and those concerned by their investments, safety and security.
The CoinDCX Go app, which is available for Android and IoS devices, has been downloaded more than 150,000 times since its launch, according to the company.
CoinDCX claims that a user can buy or sell crypto on the app while navigating through its secured backdrop and complete transaction on the platform as he/she finishes his coffee or tea.
The app only features the very best of 14 out of some over 4000 crypto assets that exist in the market today, it said.
The CoinDCX Go App incorporates a 7M framework, which ensures that new crypto investors only invest in the safest and the best crypto assets, the company 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,” CoinDCX Co-Founder Neeraj Agarwal said.
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
In all of this, Bitcoin is leading the race. Today it has a market valuation of over $1.3 trillion. Globally many economists and investors view Bitcoin as digital gold.
— CoinDCX: India's Largest Cryptocurrency Exchange (@CoinDCX) April 11, 2021