My Journey From A Village To Building India’s Largest Crypto Exchange

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By Sumit Gupta (Co-founder & CEO at CoinDCX)

From conducting small trades on profit since the age of 8 in a village in Madhya Pradesh to opening India’s largest cryptocurrency trading platform, it has been a thrilling ride.

From a very young age, I had a proclivity towards entrepreneurship and understood the value of calculated risks which would reap in substantial dividends.

I started my first company when I was 19 and it turned out to be one of the most enriching experiences as an entrepreneur.

Right after finishing my graduation and post-graduation from IIT- Bombay, I joined an MNC in Tokyo which helped me to understand the technicalities and culture within a corporation.

My first startup, professional experience, and urge to take risks was shifting me towards fresh innovations which could help India’s consumer markets.

I invented India’s first location-based online marketplace which became a multi-million dollar startup within a year. 

With Bitcoin gaining traction in 2014, I was introduced to the distributed ledger technology and cryptocurrencies.

With blockchain’s transparent, immutable, and automated infrastructure, I was able to envision multifaceted solutions to the issues current financial markets were facing.

I wanted to actualize this foresight by bringing together various decentralized marketplaces and cryptocurrencies, the medium of transaction in these marketplaces, and provide users with a platform to interact (transact) with each other using these cryptos.

We started DCX to enable global financial inclusion by building a global fin-tech movement in crypto. We started by building a lite crypto exchange with high liquidity.

This is how CoinDCX was born which has now become India’s largest cryptocurrency exchange.

We have brought all the crypto-trading products under a single roof. The products are designed for all types of traders keeping their experience, risk tolerance, and frequency of trading in consideration.

You can trade in 500+ markets with DCXtrade, convert your INR to Cryptos and vice versa on DCXInsta, earn by lending your holdings with DCXlend, and leverage your trades using DCXmargin. The users have found the platform as simple as effortless. 

CoinDCX, our cryptocurrency exchange, is one of the strongest products from the DCX product stable. Liquidity and INR gateway were the biggest challenges cryptocurrency exchanges were facing in India and we have proficiently dealt with them.

We firmly believe crypto is a big contributor towards India’s goal of becoming a $5 Trillion Dollar Economy. We feel it makes eminent sense to let cryptocurrencies flourish in a controlled regulated environment.

More credible information is presented, the restrictions will suitably be adapted. India has enormous potential in its market for Fintech startups to prosper and this potential is not limited to India.

Today we have reached a strong base with CoinDCX as an exchange. We already have a strong presence in Singapore and India. 

DCX, the parent behind CoinDCX, is planning a slew of new products for the global crypto community.

We have a list of fresh features, a refreshed new experience and highest security. These features and products are going to be singularly focused on the needs of our traders.

Adding to this, we want to focus on attracting non-crypto community towards the crypto industry.

In order to do so, it is important to educate people and at the same time attract people towards DCX by coming up with a plethora of cryptocurrency products accessible to the common man.

We want to develop crypto-based financial products accessible to them on their palms and tips.

DCX is making tremendous progress in unravelling this potential as more customers are joining our platform globally. The total crypto industry size in India is close to $19 billion.

Recently, we partnered with Koinfox to tag them with us in our journey of making crypto-trading instruments accessible to a larger set of audience.

With this partnership, we are looking forward to providing simpler and faster trading experience. 

As a mission, we wish to benefit a billion people with financial inclusion using crypto enabled Fin-Tech services in the next 5 years.

This is only possible when we connect technologies, connect ideas, and connect people. 

(feedback: authored@startupanz.com)

 

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