What Happened with Crypto Currency?
KuCoin, a crypto currency exchange, experienced a remarkable increase in app downloads during the month of May. The surge was a whopping 356%, making it the fastest-growing exchange in India.
In May, KuCoin, a crypto currency exchange, saw a huge increase in app downloads in India. Downloads jumped by 356%, a big change compared to its competitors CoinDCX and CoinSwitch. CoinDCX saw a 26.3% increase, and CoinSwitch had a 15.1% rise. This data comes from Sensor Tower, a company that tracks app performance.
The reason behind this surge is KuCoin’s registration with the Financial Intelligence Unit-India (FIU-IND) in March. This step followed stricter rules for crypto currency exchanges in India. KuCoin’s CEO, Johnny Lyu, said the company is proud to be the fastest-growing and most compliant global crypto currency exchange in India. He emphasized that KuCoin is dedicated to providing secure and innovative financial solutions for its users.
To celebrate their success, KuCoin has launched the Historic Prosperity Carnival in India. This event runs from May 14 to August 11. During this time, users can join different activities like Weekly Futures Trading Challenges and Margin Events. They have a chance to win prizes such as Redmi Note 13 Pro 5G phones, cashback, and airdrops.
Key Points
- Data from Sensor Tower:
- KuCoin’s app download growth surpassed that of other exchanges like CoinDCX and CoinSwitch.
- CoinDCX saw a 26.3% increase, while CoinSwitch had a 15.1% rise in app downloads.
- KuCoin’s growth outpaced them both.
- FIU-IND Registration:
- Two months prior to this surge, KuCoin registered with the Financial Intelligence Unit-India (FIU-IND).
- This move followed regulatory actions in the crypto industry.
- CEO’s Statement:
- Johnny Lyu, KuCoin’s CEO, expressed immense pride in being the fastest-growing compliant global crypto exchange in India.
- He emphasized their commitment to secure, reliable, and innovative financial solutions for users.
- Historic Prosperity Carnival:
- KuCoin is celebrating this milestone with the Indian community.
- From May 14 to August 11, users can participate in campaigns like Weekly Futures Trading Challenges and Margin Events.
- Exciting rewards include the Redmi Note 13 Pro 5G, cashback, and airdrops.
- User Incentives:
- To attract more users, KuCoin offers a bonus of 2 USDT (tether) for new registrations starting from June 6.
- Completing the first trade also earns an additional 2 USDTs.
Additionally, KuCoin is offering a special bonus to attract new users. Starting from June 6, new users who register will receive 2 USDT (a type of crypto currency) as a bonus. They can get another 2 USDT when they complete their first trade.
KuCoin’s recent growth shows its strong presence in the Indian market and its commitment to offering valuable service to its users.
What other exchanges are popular in India?
In India, several crypto currency exchanges are popular among traders and investors. Here are some of them:
- Bitbns: The largest crypto exchange in India, with a majority market share of 79.1% among the country’s top four centralized exchanges.
- WazirX: Owned by Binance, WazirX is one of India’s largest crypto exchanges, holding an 11.1% market share. They offer a native utility token called WazirX Coin (WRX).
- CoinDCX: Another significant player CoinDCX has a 6.6% market share. They provide a wide range of crypto currencies for trading.
- ZebPay: ZebPay holds a 3.1% market share and is known for its user-friendly interface.
Remember that each exchange has its unique features, so consider your specific needs when choosing the right platform for your crypto investments!
