The cryptocurrency market has witnessed an unexpected global surge in the last few years. As crypto interest surges and people get into the ecosystem, there has been a challenge in choosing the best platform to trade.
The cryptocurrency market has a lot of exchanges offering various services, and all want to get a large user base.
CoinSwitch Kuber is a crypto exchange venture that distinguished itself among the pool of exchanges. CoinSwitch Kuber is an Indian Cryptocurrency exchange platform that began in 2017.
Between 2017 and 2022, CoinSwitch has gathered at least 18 million users. The cryptocurrency exchange has hundreds of coins and tokens, and it is user-friendly and secure.
The amazing fact that proves the legitimacy of CoinSwitch Kuber is this; India has not witnessed a cryptocurrency boom yet, and the Indian-based exchange has this amount of users.
This finding will give you a glimpse of what the future holds for CoinSwitch Kuber when India begins to witness a cryptocurrency boom.
Even without the crypto boom in India yet, CoinSwitch Kuber is still fulfilling its purpose of spreading crypto knowledge among the general public.
CoinSwitch Kuber has a simple registration process. This simple registration process allows UPI payment methods and compactibility with fiat currency.
Another interesting fact about CoinSwitch Kuber is that it helps users get the best opportunities for trading using unique approaches. Also, it can connect users to other exchanges to help them get the best trade opportunities.
There are lots of bonuses and perks that come with using CoinSwitch Kuber. You can see these perks and bonuses when you register on the exchange and read the reviews as you start using the platform.
CoinSwitch Kuber Launches Crypto Rupee Index (CRE8)
Recently, CoinSwitch Kuber launched the CRE8 (Crypto Rupee Index). The Indian exchange claims that the CRE8 is the first benchmark index in India for measuring how the Rupee crypto market in India is performing.
CRE8 will be used to keep track of the cryptocurrency assets that occupy over 85% of the entire MarketCap of traded cryptocurrency in the INR (Indian Rupee). There are about eight cryptocurrencies in the category, representing over 85% of the market.
Related: How to earn passive income with cryptocurrency exchanges
Using this Index measurement, Indian-based cryptocurrency traders will know how to make wise investment decisions. The index will give Indian crypto investors a real-time view of the Rupee-based crypto market.
The index will provide data that investors can trust using the actual trades in the Rupee-based crypto market.
The index will show Indian users insights in real-time about the state of the cryptocurrency market using the number of actual trade transactions going on in CoinSwitch.
The trades going on in CoinSwitch get refreshed more than 1400 times daily. This constant refreshing ensures that the index reflects the market direction in real-time.
All You Need To Know about CRE8 (Crypto Rupee Index)
Here are key takeaways and further details you need to know about CoinSwitch Kuber and CRE8 (Crypto Rupee Index).
- CoinSwitch Kuber is among the list of India’s most popular and reputable exchanges. It has begun an Indian Rupees index denomination that will provide crypto investors with information on the eight largest cryptos traded in India by Market Cap. The information that CoinSwitch Kuber will provide will be real-time information.
- The CRE8 cryptocurrencies include Bitcoin, Ripple, Ethereum, Binance, and Cardano. Stablecoins and index component derivatives are not a part of the top eight.
- The CRE8 initiative is the first in the Indian cryptocurrency market. Before now, Indian investors had to rely on information based on the USD indices. The problem with the USD indices is that it does not give the correct measure of the crypto market in India. It ignores the dynamics of the demand and supply activities of the Indian Investors in the Rupee-based crypto market.
- CoinSwitch Kuber refreshes that CRE8 system up to 1400 times at least to make sure the reflection of market movements is in real-time. The data tracking of the eight largest cryptocurrencies that accounts for 85% of the Rupee Traded crypto market needs to keep appearing to investors in real-time.
- CoinSwitch will get its CRE8 index measurement from the transactions on the platform. CoinSwitch currently has at least 18 million users registered on the exchange.
- Recently, The volumes of trade in India have gone down because of the stringent new tax on cryptocurrencies and other developments like the launch of Coinbase roughly and locally. With all these factors, it may be impossible to ascertain the number of registered active users on CoinSwitch Kuber.
- CoinSwitch Kuber says that the introduction of the CRE8 is a display of its commitment to making the Indian cryptocurrency market more transparent. Also, the CRE8 will arm crypto investors in India with the Indian market measure that are easy to understand. Indian-based crypto investors who watch the CRE8 index will not base their investment decisions on assumptions of how the market is moving.
- Some investors of CoinSwitch Kuber are Coinbase Ventures, Sequoia Capital Tiger Global, and Andreessen Horowitz (a16z).
For coins to qualify for appearing in the index, they should have met the following criteria;
- Users on the CoinSwtich platform must have actively traded the token for at least six months.
- The coin must be a trading pair of Indian Rupees on CoinSwitch Kuber.
- The daily minimum trading value of the cryptocurrency must be Rs 5 lakh in the last three months.
There are plenty of crypto indices globally, but what separates the CRE8 from them is that the CRE8 serves the Indian crypto-based market. CoinSwitch Kuber built the index for the Indian-based cryptocurrency investor.
Most of the cryptocurrency indices now are US-based, so they do not show the trading prices and volume in the Indian crypto market.
The truth is that Indians cannot work with these general indices because the factors that affect the crypto market in the US differ from the factors in India.
These factors drive the Indian crypto market; the demand and supply in India, the prices of cryptocurrencies globally, and the exchange rates of the Indian Rupees.
The CRE8 comes into the scene to serve the Indian investors facing these peculiar Indian crypto factors.
The passive form of investment is growing daily in popularity. People are becoming aware that passive investments cost less and give massive returns than active investments.
Referring to the CRE8 will assist you in analyzing your plans based on the situation of the crypto market.
Having details of the CRE8, you will make accurate investment plans without looking at the total market capitalization of the cryptocurrency market to know the market direction.