Helping over 14 million Indians make informed crypto investing decisions
Chandigarh, (Gurpreet) : In 2021, over 14 million Indians used CoinSwitch to learn, buy, trade, or sell crypto assets in a simple, secure, protected environment, making us the largest crypto platform in the country. At the beginning of the year, we were serving just over 1 million users.
This was also the year CoinSwitch became a learning app for crypto enthusiasts trying to learn the art of investing. An average user spent 27 minutes per day on the app to buy, trade, and sell crypto assets and read informative articles on the platform, a sharp rise from 13 minutes at the beginning of the year. This number was driven by users spending several weeks reading articles on Kuberverse, our learning initiative before they invested in the first crypto asset.
Catering primarily to retail investors, CoinSwitch registered a 3500% rise in transaction volumes as more Indians started their crypto investing journey as crypto-assets became mainstream worldwide. Most traded crypto assets on our platform include BTC, DOGE, ETH, MATIC, ADA. Crypto adoption saw an encouraging growth among Indian women. As of today, 15% of our total user base comprises women.
Delhi, Kolkata, Pune, Mumbai, Lucknow, Patna became the early crypto adopters.
Nearly 60% of our user base is less than 28 years old. While many Indians are starting their asset investing journey, increasingly 45-year old plus stock market enthusiasts are experimenting with this high-risk, high reward asset class.