The Koinex cryptocurrency exchange turns one on August 25, surviving against all odds in India’s crypto troubled waters. The exchange claims to have crossed 50,000 crores in terms of cumulative transaction volume. Koinex hit peak trade in January 2018 with a volume of nearly 1722 crores in a day. It ranked among the top 10 exchanges worldwide. Recently the exchange launched P2P trading platform, Loop for crypto/INR transactions. The exchange is also focussing on other blockchain applications.
The exchange on-boarded 1000 users in September 2017 and within a span of 12 hours, it completed 250 trades on the first day. The exchange was designed and developed by a team of four individuals. A remarkably high proportion of KYC-verified accounts turned into daily active users of the platform.
The Koinex cryptocurrency exchange was the first exchange in India to introduce instant INR deposits. The exchange is loved by traders and HODLers alike. Koinex also launched the Intraday Trading Program and offered huge benefits so that everyone can trade.
It was the first Indian exchange to support Bitcoin Cash trading which became instantly popular with the Indian crypto trading community. The exchange was the first in India to introduce instant INR withdrawals, which was another big step in simplifying INR transactions.
Within a short span of just four months of existence, the Koinex website ranked 125 in India. When situations became grim with the RBI ban, the exchange introduced crypto-to-crypto trading through ETH, XRP, and BTC markets. The exchange became a clear leader in the Indian crypto space despite all odds, as per the “inshorts” report.
The Koinex cryptocurrency exchange team grew to 60 members despite the RBI directive which came into effect on July 6, 2018, of shutting down all banking channels for digital assets trading. These members are working day in and out to bring delight through innovations centered around technology-enabled peer-to-peer trading paradigm shift.
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