The platform celebrates the achievement with 20,000-rupee worth of Bitcoin giveaways every hour.

In a milestone achievement, CoinSwitch has become India’s first cryptocurrency exchange to exceed 20 million registered users. 

This success is part of a noteworthy surge in user activity within India, influenced by various factors. The approval of Bitcoin (BTC) exchange-traded funds (ETFs) in the United States, the potential endorsement of Ethereum ETFs, and the imminent Bitcoin Halving event all contribute to the optimistic sentiment prevailing in the market.

Another factor is the beginner-friendly crypto trading app CoinSwitch has deployed and low fees it charges per transaction.

CoinSwitch has announced a five-fold growth in user registrations since the beginning of 2024, surpassing the daily average user growth reported in 2023.

In late February – early March, trading volumes on the CoinSwitch platform surged seven-fold and the number of users in profit witnessed an impressive rise of more than 80%, according to a Hindu BusinessLine report. 

Ashish Singhal [pictured above], co-founder of CoinSwitch, is confident that the crypto industry is currently on a bullish trajectory. To celebrate the 20-million user milestone, he has announced giveaways for fortunate users who will receive 20,000-rupee worth of Bitcoin every hour.

CoinSwitch became India’s most valued crypto platform in September 2021, with a valuation of 1.9 billion US dollars. It is compliant with the crypto laws and financial trading guidelines that are in effect in India.

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