CoinSwitch SmartInvest service for new crypto investors launched
CoinSwitch has announced a new initiative to help new crypto investors invest in virtual digital assets. The cryptocurrency exchange said on Monday that it has rolled out a new service called SmartInvest. Through this feature, the exchange has released a selection of smart investment strategies that early investors can access to take their first steps in investing in digital assets. The development comes just days after MeitY Secretary S Krishnan said the IT ministry is committed to nurturing India’s Web3 ecosystem.
The exchange has added a new section to the app interface called CoinSwitch SmartInvest. According to the platform, users have access to investment strategies created by experienced traders. “Users can evaluate and choose available strategies based on historical profits, minimum investment requirements and adoption metrics. Once selected, SmartInvest’s algorithms automatically execute trades on behalf of users, allocating a portion of profits to strategy developers,” explains the Bengaluru-headquartered company.
Despite its strict regulatory stance on the crypto sector, India has shown remarkable growth in cryptocurrency adoption. Last month, a Chainalysis report revealed that India ranked first among 151 countries in rapid cryptocurrency adoption. This is the second year in a row that India has topped the Chainalysis index. The country considers crypto assets as financial instruments for investment and trading and does not recognize any crypto as legal tender besides the rupee.
Coin switch claims that it targets more than two million customers in India. By offering customized guidance plans, the company now aims to get new users on board.
Balaji Srihari, the head of business at CoinSwitch, also said that over the years, potential investors have talked about the complexities of crypto trading – especially how to get started – which is a problem that this initiative will try to address and solve . “Choosing assets, timing entries and exits, identifying opportunities: all this is a challenge for investors. We recognized that many users did not have the skills or time to create their own strategies. SmartInvest bridges this gap, giving investors access to expert-driven strategies without the need for coding expertise,” he said.
Earlier this year, CoinSwitch launched a service that provides high net worth individuals (HNIs) with personalized investment advice and detailed risk management solutions. At the time, the exchange had claimed that its team of experts will assist institutional investors with tailor-made investment strategies, dedicated account management, professional tax preparation and exclusive market access.
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information contained in this article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
