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CoinDCX allots $1.3 million to bring 50M Indian consumers to cryptocurrency markets

Image by Adam Jones from Flickr

Sat, 14 Mar 2020, 08:44 am UTC

Indian Crypto exchange CoinDCX allocated a huge amount to increase awareness and crypto adoption in the country.

In a press release CoinDCX shared with Crowdfund Insider, the exchange is giving away $1.3 million in its initiative called TryCrypto that aims to introduce 50 million Indian consumers to cryptocurrency markets. It will operate as a long-term project and will support the crypto’s growth “well into the future.”

“Only 5 million people in India currently hold cryptocurrencies—less than 0.5% of the population. We believe, however, that by educating consumers and combating negative preconceptions of the industry we can boost the number from 5 million to 50 million, so that everyone can unlock the benefits of digital assets,” said Sumit Gupta, CEO and co-founder at CoinDCX, about the new project.

“In order to achieve this seachange, we are working with a host of industry partners and implore all like-minded businesses to help us work with consumers to — ‘Try Crypto’.”

DCXlearn includes an online learning program with a massive open online courses (MOOCs). The crypto exchange is working with top Indian universities in promoting crypto education and the TryCrypto initiative within campuses.

CoinDCX will work with industry leaders including Inblox Network, Amesten Assets and Cashaa to support the campaign and help people use digital assets responsibly.

“With the Indian cryptocurrency sector expanding faster than ever before in the wake of the RBI ban being lifted—the TryCrypto campaign is the need of the hour. Education is more important than ever if we intend for more people to be a part of the crypto community. We at Cashaa firmly support the initiative and are proud to be a part of its future activities,” said Kumar Gaurav, CEO at Cashaa.

CoinDCX is the first cryptocurrency platform in India to integrate bank account transfers. The exchange’s commitment to the TryCrypto project comes after the Supreme Court favors the blockchain industry by overturning the Reserve Bank of India’s (RBI) crypto ban.

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