What is CoinDCX Web 3?
CoinDCX Web 3 opens up a gateway to the blockchain world, enabling direct transactions on the blockchain. Initially focusing on crypto trading and swaps, this mode offers a glimpse into the possibilities of Web 3, with more features planned for the future. Experience the Web 3 world with CoinDCX.
The introduction of a Web3 mode within its cryptocurrency exchange app, granting over 15 million users access to more than 50,000 DeFi tokens. This enhancement allows users to explore a diverse array of tokens spanning ecosystems like Base, Solana, Binance Smart Chain, Polygon, and others. Through the CoinDCX app, users can purchase these tokens using Indian rupees (INR) and seamlessly switch to Web3 mode for further ecosystem asset acquisitions.
Sumit Gupta, co-founder of the Crypto Company, highlighted the significance of this update, emphasizing that it addresses the demand in the crypto space for access to emerging projects and associated tokens. Gupta asserted that CoinDCX leads as the first Indian crypto exchange offering the Web3 feature, enhancing the transactional experience with a streamlined deposit and withdrawal process between traditional CoinDCX wallets and Web3 mode.
The introduction of Web3 mode also opens avenues for investors to participate in early-stage projects directly through the app. Gupta elaborated on the advantage for retail customers, noting that they can now invest in projects that typically debut on major exchanges, bridging the gap where promising tokens often become inaccessible by the time they reach retail investors.
CoinDCX further enhances user engagement with a points system tied to transaction history as part of this update. Neeraj Khandelwal, co-founder of the Crypto Company, emphasized that the platform’s integration of Okto’s ‘Orchestration’ Chain facilitates seamless interaction across multiple blockchain networks, enabling cross-chain token swaps and identity verification without requiring users to navigate the complexities of blockchain technology.
