Cryptocurrency exchange aggregator CoinSwitch, has announced launch of CoinSwitch Kuber, a mobile app exclusively for users in India. Kuber will allow Indian crypto traders to buy and sell over 100 Crypto assets with the Sovereign Fiat currency INR. Kuber will launch to the public on June 1st, 2020.
The announcement says, CoinSwitch Kuber will ensure the best rates by aggregating liquidity across all Indian exchanges.
CoinSwitch Kuber will remove the complexities (that users may face in other exchanges) and create a user friendly way to trade crypto at the best prices, says Ashish Singhal the CEO and co-founder of CoinSwitch. He adds,
“Most citizens are new to cryptocurrency, and having a simple user experience will be of utmost importance for adoption.”
Ashish Singhal, CEO and Co-Founder – CoinSwitch.co
After the recent judgement from the Supreme Court Quashing restrictions on banks put forward by the RBI, may crypto exchanges have emerged in world’s second most populated country. Some are new, some are reviving their shut businesses and some are launching a new product like such as Kuber.
CoinSwitch Kuber aims to remove the intricacies associated with crypto and instead create a user-friendly platform, in the form of a mobile application. New users can create an account on the platform by performing KYC/AML procedures and can deposit INR into their account using the various modes of payment offered by the platform. Users can then buy and sell any of the 100+ currencies supported by the platform. In addition, users have the facility to store, send, and receive cryptocurrencies through their account.
Maintaining the Price
Although the demand and supply govern crypto prices on most exchanges, prices do vary across exchanges. CoinSwitch Kuber ensures users buy cryptocurrencies at the best rates by aggregating the liquidity of top exchanges in India at the backend.
Users get access to this pooled liquidity through a simplistic interface wherein they will simply enter the INR amount and choose the cryptocurrency they wish to buy. The platform then offers a rate which auto-refreshes every 30 seconds.
In advance of the official launch, CoinSwitch Kuber will be onboarding a select 25,000 people to its service. These pre-launch users will be entitled to zero fees on INR trading, deposits, and withdrawals. Pre-launch users can also earn points and daily crypto rewards through participation in referrals or promoting the product on social media. On top of this, prizes worth 50,00,000 INR are available to win during the pre-launch period.
CoinSwitch was founded in 2017 and is based in Bengaluru. Singhal adds, “Recent developments surrounding regulation in India have created huge opportunities for Indian citizens to come into the fold of the future of finance. CoinSwitch was founded in India and has been based here ever since, and we are proud to be serving the crypto community during such a historic period for our country.”
Exclusive Offer for Coin Crunch Readers
The first 25000 users will enjoy zero trading, deposit and withdrawal fees for 100 days and receive 500 kuber points on signup. These points can be used to redeem rewards from the reward section once the app is live.
Here’s the concept shared by CoinSwitch on how the rewards section looks:
Coin Crunch readers will get 750 Kuber Points once they sign up using the link here.
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