CoinDCX Unveils Web3 Mode for INR Crypto Transactions

CoinDCX, a pioneering cryptocurrency exchange in India, has recently introduced an innovative Web3 mode within its app, marking a significant breakthrough for local crypto enthusiasts. With this development, users now have the facility to purchase a range of digital assets using Indian Rupees (INR), giving them straightforward access to over 50,000 DeFi tokens.

This Web3 integration not only streamlines the transaction process but also empowers users with the ability to buy and transfer prominent tokens such as Ethereum (ETH), MATIC, Tether (USDT), and USD Coin (USDC) in INR, all through the CoinDCX app interface. This move significantly simplifies the cryptocurrency acquisition process, rooting out intricate steps that previously stood as barriers for many.

To further bolster the user experience, CoinDCS has launched a unified deposit and withdrawal mechanism. This means that transferring funds between CoinDCX wallets and the Web3 mode is now seamless, promoting ease of movement for funds earmarked for virtual asset purchases.

The co-founder of CoinDCX, Neeraj Khandelwal, announced that the implementation of the Web3 Mode was facilitated by Okto Chain. He expressed confidence that this development is a milestone in their mission to simplify access to Web3 — the next evolution of the internet, which promises a decentralized and user-centric online ecosystem.

Moreover, CoinDCX has initiated a program to incentivize user interaction with Web3. Existing users will be rewarded with a points airdrop, contingent on their Web3 activities. Additionally, the exchange has revealed CoinDCX Prime, a service aimed to provide personalized investment services, further enhancing the investment journey for its users.

Achieving the milestone of becoming India’s first crypto unicorn in 2021, after securing $90 million in Series C funding from an impressive roster of investors including B Capital Group and Coinbase Ventures, CoinDCX has continued to show relentless pursuit towards innovation. Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX has cultivated a vast user base of over 1.5 crore individuals.

Maintaining a sharp focus on user safety and security, CoinDCX aspires to democratize the access to Web3 experiences. With India’s large and still-growing internet population, CoinDCX’s Web3 mode could potentially be a catalyst in mainstreaming cryptocurrency usage and fostering an environment where digital assets are as ubiquitous as the traditional currency in the nation.

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Gabriela Ruiz
Gabriela Ruiz is a distinguished author and a leading authority on cryptocurrency, blockchain technology, and altcoins. With a profound understanding of the digital currency ecosystem, Gabriela has spent years delving into the intricacies of decentralized finance and emerging digital assets. Her work is celebrated for its clarity and depth, making complex concepts accessible to a wide audience. Gabriela's books, several of which have become bestsellers, provide invaluable insights into the development and potential of blockchain technologies and alternative cryptocurrencies. As a prominent voice in the field, she continues to educate and inspire readers worldwide, shaping the conversation around the future of digital finance.

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