coinswitch: crypto trading platform CoinSwitch says its user base has grown 14-fold in 2021

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NEW DELHI: CoinSwitch Kuber said on Tuesday that it saw its user base grow 14 times in 2021. Over 1.4 crore Indians used CoinSwitch to trade crypto assets, up from 10 lakh at the start of the year, the company said in a statement.

The crypto trading app also saw strong growth in app usage per minute per user and trading volume over the year as crypto asset prices increased significantly.

“Primarily aimed at retail investors, CoinSwitch saw a 3,500% increase in transaction volumes as more Indians began their crypto investment journey as crypto-assets became currents all over the world. Most of the crypto assets traded on our platform include BTC, DOGE, ETH, MATIC, and ADA, ”CoinSwitch said.

An average user spent 27 minutes on the app buying, trading and selling crypto assets and reading informative articles on the platform, doubling from 13 minutes at the start of the year. This number was generated by users reading articles on Kuberverse, which is a learning initiative of CoinSwitch.

Women were also not behind in crypto investments, the data showed. To date, 15% of CoinSwitch’s total user base are women. Cities like Delhi, Kolkata, Pune, Mumbai, Lucknow, Patna have become the first to adopt crypto.

“Almost 60% of our user base is under 28 years old. As many Indians begin their journey of investing in assets, more and more stock market enthusiasts aged 45 and over are experimenting with this high risk, high return asset class, ”the company said. .

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