Cryptocurrency and NFT have taken the world by a storm in just a few years, people have started taking them seriously and are investing in them. They are said to be the new future of currency, Bitcoin announced its existence in the year 2009 and since then, a number of cryptocurrencies have launched. Although the future of cryptocurrency is uncertain, young people are not shying away to show their interest in them.
At this age, there is hardly anyone who is not aware of NFTs and Cryptocurrency, they are becoming a medium of exchange and there are big companies who are accepting cryptocurrency as a form of payment.
With so many new rules, regulations and states of NFT and Crypto, the status of them has changed. For any kind of product or service, advertising is one of the most aspects; if not the most important factors for letting the world know that they exist.
Naturally, to make people more aware of cryptos and NFT and their features, advertisement is definitely going to be a strong need for marketing for all the business that is dealing with this industry.
Cryptos somehow are able to get recognized and are not banned entirely in the country, but the advertisement of these products needs to follow some guidelines. In this article, we will talk about the guidelines that companies have to follow while advertising cryptos and NFT related things in India. So let’s get started.
“A good advertisement is one which sells the product without drawing attention to itself.” –David Ogilvy
Guidelines for Crypto and NFT Related Advertising Released by ASCI
The Advertising Standards Council of India (ASCI) as per the Government of India set some rules while advertising for Crypto and NFT related products as they are extremely risky. So people must be aware of the risks that they are going to take while investing in them.
All these guidelines will be applicable to all the ads released on and after April 1, 2022, and not to forget ads that are not complying with the guidelines will not appear in front of the public after 15th April 2022.
ASCI Guidelines Tweet
Some of the guidelines related to Virtual Digital Assets (VDA) are:
One of the disclaimers is “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” It must be placed in every advertisement in such a way that it cannot be missed by anyone watching the advertisement.
If the advertisement is in print, then the disclaimer must be placed in a space that has to be at least one-fifth of the space in the bottom, the font has to be big and clear enough, that it can be read properly.
In a video ad, the disclaimer should be placed at the end and it must remain on screen for five seconds and the voiceover should be at a normal pace.
If the ad is an audio one, then it should be spoken at a normal pace at the end.
In social media advertisements, the disclaimer must be present in the caption as well as in the pictures and video attachments.
Several words are forbidden to be used in the advertisement of Crypto and NFT related products and services. Worlds such as, ‘Custodian’, ‘Currency’, ‘Securities’ and ‘Depositories’
Whatever information the advertisement of the products will provide to the consumers must not contradict the guidelines given by the Government of the country.
The past performance of any products shall not be included in any biased form in the advertisements.
The name and contact of the advertisers of VDA products and services advertisement must be clear in the advertisement so that a consumer can contact them if the need arises.
Advertisements must avoid making any kind of promise that states that there will be an increase in profit related to those products.
Minors are not allowed to be in the advertisements dealing with the products and services.
Ads must not be presented in such a way that it will show the consumers that while investing in them, one does not have to think twice.
Advertisements must not show that if anyone invests in the products, it will solve their money or personality problems.
Comparison with others assets must be avoided.
Any kind of celebrity, who is going to be present in the advertisement and endorse the products or services, must be very careful. They should avoid making any claims that can lead to a misunderstanding that may confuse the consumers.
Cryptos and NFT related products status are quite uncertain in the country. All the guidelines by the ASCI are to protect the common people from facing any kind of uncertain future while investing in these products. By following these guidelines, the companies can advertise their products without any hindrance.
FAQs
Why were the guidelines released by ASCI?
As to protect the investors from investing and losing money after watching misleading ads, ASCI released a few guidelines that every advertiser has to follow.
Is investing in cryptos safe?
Crypto is a highly volatile currency, so it is quite risky but it can be profitable as well.
Can you run Facebook ads for crypto?
You can run ads on Facebook but you have to follow the guidelines and get approval from the company.
The rate of growth in the world right now is at probably the topmost pace. The fuel for this growth is simply the technology sector behind every organisation. Lines and walls between companies are getting more and more transparent. Every company and entity is becoming a technological entity. All these utilities of technology have induced certain dependence in the world. That utility is worthwhile too, too much of an extent.
Technology, in a nutshell, has made our surroundings more convenient than ever before. We see transactions are getting easier and easier. We see that the entertainment sector is at an all-time high, in terms of revenue generation and visibility. We see that technology has invaded our homes and hands, the utilities it provides are endless.
All the utilities that the technology provides, make it a lucrative port for every other activity. Paying someone has become easier, and in fact, the transactions have become easier. Digital cryptocurrency is the new buzzword around the world corridors.
Most people support this trend of bitcoin and other crypto asset classes. India recently announced the commencement of a digital currency. The digital rupee is a new term for every Indian and this is a move that no one has ever imagined. There is a lot of hype among people about this but most people don’t know what it will be like. In this article, we will discuss what is a digital currency and how will it be different from the UPI method or unified payments method.
A digital payment mechanism is a tunnel through which payments can travel digitally. For instance, UPI is a digital payments mechanism. A Unified Payment Interface is a method by which people can transfer funds digitally and directly from the bank to another bank account.
The sole purpose of the digital setup of payments is the ease and convenience which it provides. The craze of digital payments grew so much in a very small time that it shifted to more serious business.
A Small Brief About Digital Currency
When digital payments are so easy and convenient, then why not all shift to digital payment methods? Moreover, why not make a digital currency? Nowadays, crypto is a popular buzzword. Let us see what digital currency means and what crypto is.
The world of cryptocurrency and digital assets. A cryptocurrency or just crypto is a digital currency that is designed and formulated to act as a medium of exchange. The whole system is decentralised, in fact, decentralisation is the core concept on which the world of crypto is being built.
Transactions happen through computers and computer networks. All the computer networks are not controlled by anyone’s authority, this by definition is known as decentralisation. There is no bank intermediary, a government or anyone else to maintain or uphold it.
A digital currency, as the name suggests, is a sort of digital money or electronic money is a sort of currency. It is money like an asset class that is primarily stored in a digital source or a computer. It is also stored and transmitted over the internet. It involves a lot of other asset classes. Types of digital currency include a lot more than just some of the asset classes.
Digital currency includes all sorts of cryptocurrency, virtual currency and all the currency which is accepted by digital currency. Except for the cryptocurrency, other asset classes may be recorded in a database that is centralised. A centralised database here means the database which is upheld by some central authority or a government figure.
This currency can be used to buy goods and services that exist in the real world. It can also however be used to buy things online, like something in an online game. Apart from being digital, digital currencies exhibit all the traits of a traditional currency. It doesn’t just have a physical form.
The fact that they are not physical in nature implies that they can be held by anyone with a computer device. This feature of digital money removes the cost of circulating physical money in the market. Transactions can happen seamlessly over the internet without any issues of lower denomination of notes.
A digital currency is usually not issued by a government body and thus, these are not considered as legal tender in many countries except El Salvador. Digital currency can be owned by anyone, even outside the borders of a country. These features also make the government not accept it as a legal tender.
Depending on the situation and characteristics of the digital currency, it can be centralised and decentralised. Centralised means some organisation that is operated under the rules of a central body. Decentralised is an organisation that has no central body and no one person or entity can control it wholly. Centralised institutes include banks and the stock market. Cryptocurrency like Bitcoin is decentralised.
This is the new word that, after its inception, became a buzzword of the month. Nirmala Sitaraman made the announcement mentioning the word digital rupee in her speech. She introduced that the government will soon unveil a digital rupee that will have all the support from the RBI or Reserve Bank of India.
Among all the crypto hype, this digital rupee will be a welcoming move by the Government of India to the world. It is said to be launched in the next financial year. It will be a central bank currency in the digital format.
Another word for it can be, CBDC, which is a central bank digital currency. This currency will be valid in India and will be accepted and transacted in the whole of the country. Let us see what more we heard about this new head of currency.
Digital rupee to be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy: FM Nirmala Sitharaman#Budget2022pic.twitter.com/tUdj2DoZCR
Indians were surprised at the time when our finance minister made an uncommon statement. This proposal of a digital rupee had many people in surprise.
Vipin Kumar, CEO TechnoloaderPvt. Ltd said launching a digital rupee using blockchain will not be an arduous task for the government.
“People in India are already amicable with the concept of digital transactions or payments in the form of UPI ID and barcode. Presently a great many people are doing digital transactions in their way of living. If the government is planning to launch a digital rupee using blockchain; accepting it also will not be an arduous task. Government has to refurbish technical aspects. Only mobile applications desire to update and UPI id entail replacement with Wallet address as blockchain works on wallets addresses,” said Vipin Kumar.
There were immediate questions about how the digital rupee would operate. What will be its use cases and how we will be able to transact in digital rupee. How different it will be from the UPI payments that we make on a daily basis.
Digital money, built from blockchain technology will be transferred from one digital wallet to another like other cryptos assets. “One will have to punch in the wallet address of the recipient to transfer the money. It would be as good as today’s UPI transactions where the value of money is transferred from one’s wallet or bank account to another,” Kunal Jagdale, Founder, BitsAir Exchange
“As the usage of the Digital Rupee increases, it could also benefit things like cross-border remittances, an environment could be created for interoperability whereby faster real-time remittance occurs,” said Kunal Jagdale.
The Digital rupee which the government will unveil in the next financial year will be seamless and real-time. The transactions will be made through a digital currency tunnel.
Transactions will be real-time and every Indian can send their money to another person, even overseas and across borders. There will be no need for any central authority. This means that the transactions will happen at an instant and will be needing no intermediary in between transacting bodies.
Even though digital currency will not be available in the physical form, it will be acceptable. Digital currency will be as acceptable as cash and will be a legal tender in any sort of transaction. Payments made through CBDCs (Central Bank Digital Currency) will also reduce settlement risks and the demand for interbank settlements.
Finance minister Nirmala Sitaraman has also mentioned that the country will launch a digital version of the rupee as early as this year. It will be usable from the next financial year itself.
Apart from the announcement of a digital currency, the finance minister in her budget speech also mentioned that any trading gains or transfer gains of cryptos will be taxed. This means every gain from any crypto transaction or NFT (Non-fungible tokens) sales proceeds will be taxed 30 percent. All these gains will fall into the top class tax bracket in India.
The primary two motives behind launching a digital currency are simple. First, the digital currency will give a jump to the digital economy. Secondly, the digital currency will be cheaper for the government than producing physical currency notes. This way the government is trying to kill two birds with one stone.
Ms Sitharaman also said the magnitude and frequency of digital asset transactions “have made it imperative to provide for a specific tax regime”, where profits from transactions are taxed. Taxes of this sort will also be levied on any transaction of digital assets, which means that they will also be levied when someone gifts this asset to another. In this case, the receiver will be the liable person.
In 2016, Prime Minister Narendra Modi withdrew the currency notes of 500 and 1000 rupee from the financial system. Within very short notice, notes of this denomination got terminated as a legal tender and the economy was pushed to a digital world.
The Indian payments landscape changed forever, after demonetisation. Companies like Paytm, which works in the digital payments sector got an immense boost from this government direction. On the other hand, India’s neighbour China was also involved in some digital currency work. The United Kingdom also saw some potential at the time in digital currency.
Sumit Gupta, co-founder and chief executive of India-based cryptocurrency exchange CoinDCX, told the BBC that the initiative “has given legitimacy to virtual digital assets”. Sumit thinks that taxing digital assets would be good for the market but believes the rate is too high.
“A tax rate of 30% is on par with that imposed on gains from speculative activities like the lottery, gambling and other gaming activities. That proposed 30% might act as a dampener for greater adoption,” he said.
Among all the hype of a new digital currency, the ongoing digital crypto is seen as a new digital asset. The new digital currency will be a new thing by the RBI. However, with all the technological shields that we stand with today, the digital rupee has high hopes from citizens.
According to the Reserve Bank of India and the finance minister, the currency will be seamlessly transferred and will be easy for the government to take charge and control. This is a win-win for everyone. More details about the platform and transactions will be officially out soon from the RBI. However, with the announcement of a digital currency, cryptocurrency is seen as an accepted currency.
With all the speculations from the public and the unclearness of the new digital currency, many people are connecting the digital currency with that of UPI. Unified payments interface is a very famous transacting mechanism in India. It is, however, said to differ from the digital currency or the digital rupee which the government is planning to push into Indian markets. Before we get to the differences it is good to know some basic information about the UPI and how the unified payment interface works.
There is little possibility that you haven’t heard of UPI in today’s world. It is almost everywhere in every marketplace. It is easy, convenient, seamless and real-time. As the name suggests, a unified payment interface is a payment pathway in which a person can transact money via digital means. People can add multiple bank accounts to their UPI apps which are available in the market today and can start transacting. It is a real-time payment system for money transfers and the settlement is done in both the receiver’s and the sender’s bank account.
The UPI is developed by the National Payments Corporation of India or NPCI. This digital payment mechanism is regulated by the Reserve Bank of India. UPI can be used every day of the week and every month of the year, it is universal in nature.
All it needs is a bank account and an internet connection. However it is noted that there is no digital currency involved, it is simple to transfer bank funds from one person to the other. A UPI transaction can be initiated and accepted both by a person, any individual and also any business out there in the country.
The Unified Payments system is secure by all means and uses some of the same pathways as digital currency transactions. The unified payments system has a data log of VPA ids, which is a unique ID that is given to every individual who is getting into the UPI transactions.
This VPA ID or the Virtual Payment Address is the address where the payment has to be made. It is simply the bank account that is linked with the Virtual Payment ID to which or from which the payment is initiated. It can be made by a bank name or the person can choose one himself or herself as opposed to in digital currency transactions.
Most of the time, the email address or the mobile number of the person is made their VPA address. VPA is something that directs the payment/transaction path. Transfers can be inter-bank and they can also be intra-bank. A mobile number also works seamlessly in the UPI payment system, if it is attached/linked with the bank account of the sender or receiver.
Most UPI apps have no holding capacity. They are not wallets, except a few like Paytm. Most UPI apps like Google Pay does not offer wallet services. Companies like Paytm do that. It is however to be noted that UPI does not hold any money in between. Wallet services are the sole services of the payment pathways companies like Paytm.
UPI works simply by settling payments from one bank and the other. It works on request by the transferee and then works towards settling the money settlement among participating banks of persons involved. A sender can initiate a transfer using a two-step secure process: you have to login to a UPI app – then you have to type the VPA id or scan a QR code – then you can send money by entering your UPI Pin that is personal to you.
The payment hits instantly and in real-time. This means, by the time you get the notification of money sent, another person will get the notification of money received.
After a brief discussion, it is time to see how both the payments are different. The digital currency which the government will release next year and the Unified payments interface that we use even today. What are the most noticeable differences and what are the most significant upgrades over the UPI payments mechanism? Let us see the key differences between the digital rupee and the UPI payments.
How Digital Rupee Will Be Different From UPI Transactions?
UPI is our day to day useful item. We use it even multiple times a day. It is handy, easy and convenient. It works seamlessly everywhere and has almost negligible issues. But how it is different from the digital rupee that the finance minister just announced in India. This is a valid question. Let us see what will be the key differences between a digital rupee and the UPI apps and payment mechanisms
The first difference is that the Digital rupee will be a standalone payment mode. As opposed to the UPI which is a payment processing tunnel. If we use UPI methods, they all don’t act like the underlying asset in transactions, instead, they are the ones who will be processing the money in your bank account. In this case, your money in the bank is the underlying asset that will enter the transaction. In the case of a digital rupee, it will itself be the underlying asset that will enter the transaction.
“The payment rails like UPI, IMPS etc use the underlying currency/cash to transfer the funds. In other cases, it is expected that payment rails will work together with the digital rupee to ensure a seamless payment transaction,” said Mihir Gandhi, Partner & Payments Transformation Leader, PwC India.
Any payment that is made through the Unified payment interface, will be equivalent to the transfer of currency notes. As there are banks, the government and all the proper authorities at work, who allows the transaction. This means that every amount which is transacted by the UPI method is backed and supported by a physical currency transaction. Which makes the process of transaction impossible to jump through. In the case of the digital rupee, this will be even more efficient and effective.
“The digital rupee will be legal tender in and of itself and need not necessarily be backed up by physical currency,” said Sumit Gwalani, Co-Founder, Neobank Fi.
Another difference is the fact that UPI transactions are involved between participating banks and they have their own UPI handlers. In the case of the digital rupee, the digital currency will be equal to the physical currency. It will be operated by the Reserve Bank Of India and no commercial bank will enter the process.
They will be informed but the central figure of RBI will always recognise the transactions happening in the digital rupee. This will add more accountability to any sort of transaction.
The digital rupee is no different from your normal rupee; it can be used to do normal transactions like NEFT, UPI. The digital rupee will be operated by RBI and not by bank intermediaries in the case of UPI where each bank has a different UPI handler, said Manoj Dalmia, Founder and Director, Proassets Exchange
The digital rupee will eliminate settlements in commercial banks. It will be directed directly by the Reserve Bank India and thus, will be instant and seamless. Record keeping will also become easier.
UPI payments currently rely on the settlement of the transacting banks with the RBI, Digital Ruppe will be transacting directly from RBI, hence it will be settled instantly, said Vinshu Gupta, Founder and Director, Nonceblox Blockchain Studio.
It is evident from the above discussion that the digital rupee is definitely an upgrade over the Unified payments interface. It will add more accountability to the system of transactions. It will be more seamless and as real-time as possible.
These transactions will also be introduced in the market without incurring a lot of costs, as the digital rupee will be made at less cost than physical notes. These are the most noticeable benefits and there will be more benefits when it comes to the market. The government is welcoming the digital change of currency as it is more efficient.
UPI payments have been the most convenient money transacting mechanism that we have seen today. As the world becomes more and more tech-savvy, people are rethinking ideas of money and transactions. Which has led to the development of digital transactions and even currency that has no physical nature of existence. We now live in a world of numbers.
In the seven budget, the Indian Finance minister announced that the government will be launching a digital rupee. Many people are considering this as a welcoming move toward the cryptocurrency hype in the rest of the world. Others are just wondering if it will be a good decision.
It can be seen from the above discussions that the digital rupee is definitely an upgrade over the Unified payments interface payment tunnel. As transactions will be recorded and regulated by the Reserve Bank of India, It will add more accountability to transacting parties. The digital rupee will be more seamless and as real-time as UPI.
These transactions will also be introduced in the market without incurring a lot of new costs. The digital rupee will be circulated in public at a lesser cost than is needed to circulate physical notes. It is a move that simply implies that the government wants better governance over the money transactions happening in the country. It is imperative, as we are a really populous country and the digital rupee can be the perfect money.
FAQ
Which is the first digital currency?
Bitcoin is one of the first and most popular digital currencies.
What is digital or virtual currency?
A digital currency is a digital representation of currency that is stored in an electronic form that can be mobile or computer. It can be centralized or decentralized.
Is Bitcoin legal in India?
There are no regulations on crypto nor the Bitcoin is banned in India.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Mudrex.
A rapidly growing sector of the larger financial technology (fintech) business is the cryptocurrency market. In order to enable secure and open transactions, the cryptocurrency sector makes use of digital currencies, blockchain technology, and decentralized financial systems. Companies like Mudrex are at the forefront of offering cutting-edge investing solutions in the cryptocurrency industry as demand for investment solutions for cryptocurrencies keeps rising.
Mudrex is a Global Crypto Investment Platform backed by Y Combinator and Nexus Venture Partners that operates in over 100 countries globally. It is a US-headquartered and Bengaluru-based fintech startup aiming to be the largest asset management platform for crypto investments. The company has $3 billion in trade volume, $20 million+ in assets under management, and 7,00,000+ investors.
StartupTalky interviewed Mr. Edul Patel (Co-founder & CEO, Mudrex) to get insights into the startup story and roadmap of the organization.
Mudrex – Company Highlights
Startup Name
Mudrex
Founders
Edul Patel (CEO), Prince Arora (VP, Engineering), Rohit Goyal (VP, DeFi), and Alankar Saxena (CTO).
Mudrex is a revolutionary cryptocurrency investment platform that empowers individuals and institutions to invest confidently in digital assets. With state-of-the-art technology and expert insights, Mudrex provides a secure environment to manage crypto investments. Their ultimate goal is to help clients achieve financial goals and become the go-to platform for crypto investing.
Products Offered by Mudrex
Mudrex Portfolio: The idea behind the product is to democratize access to investment opportunities in financial markets for investors. This product will provide access to sharp and insightful trading strategies that were earlier available only to high-net-worth individuals. The product is created to make an easy-to-follow process for cryptocurrency investments. The platform builds a portfolio bundle using top-performing algorithms for different risk-reward profiles. An investor starts with choosing a portfolio based on their risk-reward expectations. It then offers trading strategies and products that are most suited to their risk profile.
Mudrex Coin Sets: Mudrex Coin Sets are baskets of crypto tokens that will help users generate good returns in the long term. These crypto baskets are automatically managed and re-balanced periodically to ensure that they are improved as the market changes. Coin Sets is one such product that will allow investors to mitigate risk by diversifying investment in cryptocurrencies. It is a mutual fund-like product with a better risk-reward ratio. The product is designed to expand retail participation in crypto investment, curated suitably for investors who look at crypto investments as long-term wealth creation. Coin Sets boast of over 90% month-on-month retention rate.
USP of Mudrex
Being a holistic destination for all crypto investment requirements remains its biggest USP. Unlike other cryptocurrency exchanges in India, the Mudrex platform is hassle-free, easy to use, and equally supports trading and investing communities to test out strategies and grow wealth consistently.
Another major differentiator is the no coder feature offered to seasoned traders. This was introduced as the team realized that global exchanges that are open 24*7 do not provide accessible tools and proper infrastructure to trade. On the other hand, only 1-2% of the retail investor base holds the knowledge of crypto trading, hence Mudrex is trying to spread awareness and educate them on crypto as an asset.
Mudrex – Industry Details
The startup did extensive research to find out the market size for one of the most rapidly expanding industries in the world. Different sources point out that by 2025 the crypto asset management industry would be clocking more than $12.5 Billion per year. Mudrex’s growth estimates suggest that it will be able to scale up to capture 1% of that market share.
During the ideation phase of Mudrex, the team reached out to approximately 200 users experienced in the crypto space. They got a unanimous response stating that automating trading in cryptocurrencies was a revolutionary move. They then closely monitored the interaction with these users to understand their pain points. The founders & the entire team worked very hard to create a product that solves this unique problem. Apart from these 200 people, they reached out to various Discord communities to receive feedback and constantly improve the product and the user experience.
They figured that trading in the crypto market which remains open 24*7 was significantly different from trading in the stock markets. The team initially built Mudrex with the idea to make money for themselves. When they started building Mudrex in Oct 2018, the founders just wanted to solve their own problems. Automating trading was hard, finding quality strategies and signal providers was difficult, and the crypto world was filled with scams. They wanted to build a trustworthy, reliable, and scalable platform that just works and helps them grow their money.
2 years from that point, in Oct 2020, Mudrex made its first investment from the company’s books. The team paper traded for 6 months, ran countless backtests, and detailed risk analysis. After all, this was the company’s money, not something they could just afford to play with.
Mudrex – Founders and Team
Mudrex is a team of four co-founders from IIT Bombay and IIT Kanpur – Edul Patel (CEO), Prince Arora (VP, Engineering), Rohit Goyal (VP, DeFi), and Alankar Saxena (CTO).
Mudrex Founders
Edul Patel
Talking about Edul Patel’s background, he has over 10 years of deep-rooted experience in finance, entrepreneurship, and building tech-driven applications. His domain expertise lies in product and & risk management. Edul graduated from IIT Bombay in 2011, post that he went to Deutsche Bank and worked there for a couple of years in trading and investing. He left Deutsche Bank in 2013 to start his own company called Niffler.
Prince Arora
At Deutsche, Edul met Prince Arora (Vice President, Engineering) who was his CTO at Niffler, a tech lead in his next company, and now Co-Founder of Mudrex. ‘Nifler’- a $1 Million funded startup by SAIF partner (that eventually got acquired by Tapzo. Edul became the head of product at Tapzo, and it eventually got acquired by Amazon, and he didn’t want to go to Amazon. So Prince and Edul both left Tapzo and started working on Mudrex. They started doing this in September 2017.
Rohit Goyal
In September 2017. The duo got their third co-founder, Rohit Goyal (Vice President, DeFi). Edul has known him for the last 15 years now. He was a junior at IIT Bombay. Post IIT, he started his own company called Saabziwaala.com, which was acquired by Big Basket. After that, he started working on his own gaming company and created multiple casual games for over three years. After that, he came to Bangalore, started staying with Edul, and saw how interesting it was to work on Crypto.
Alankar Saxena
Mudrex’s fourth co-founder is Alankar Saxena (CTO) who was four years junior to Edul at IIT Bombay. He started his career at Twitter, and worked on personalization and scaling and Twitter security as well. He came back and started working at a credit lending startup, very quickly realizing that credit lending in India is an Operations problem and not a tech problem to solve. He joined Mudrex eventually.
Now Mudrex is a team of 25 to 30 people, about 70% to 80% are ex-IIT, Ex-NIT, Ex-BITS, Ex-Google, Ex- Microsoft and 60% are ex-founders who have built and sold their businesses to other companies in the past. So, Mudrex has a strong entrepreneurial team.
Mudrex’s mission revolves around bringing “risk optimised high yield investments to everyone.”
Mudrex’s long-term vision
Mudrex aims to become a one-stop solution for crypto investment needs. It will achieve this by expanding the user community, and providing superior tools to advanced portfolio managers.
Mudrex’s Short-term vision
On an immediate basis, its vision is to improve accessibility to crypto investment for retail investors. Hence, the team will soon launch the Mudrex application and introduce tools to ease the process. Simultaneously intend to educate and debunk myths around crypto investing for beginners and novice investors in the space to accelerate the process.
Mudrex – Name, Tagline and Logo
‘Mudrex’ comes from the amalgamation of the Mudra exchange. Mudra refers to tokens, and therefore the name implies an exchange to trade tokens.
The tagline of Mudrex is ‘simplifying investing.’ The founders knew that trading cryptocurrencies were cumbersome, and simplifying the process was their unique proposition.
Mudrex Logo
Mudrex – Startup Launch
Mudrex started by having extensive one on one conversations with different sets of people through Twitter and Discord communities. It reached out to close to 2000 such people to land its first set of 100 users.
Mudrex’s primary strategy while going from 100 to 10000 was scaling up its various online communities. The team followed this up with a referral campaign. As they started growing, the startup entered into partnerships with various influencers.
Mudrex – Growth
On average, Mudrex is at revenue growth of 100% month on month. It currently stands at over 50.000+ registered users and has clocked over 450% user growth in 4 months. Mudrex currently has a user base of 100,000 users from over 100 countries. Mudrex has assets under management amounting to $15 million (as of October 2021).
Mudrex – Mentor/Advisors
Mudrex is fortunate to have advisors such as Nexus Venture Partners, Village Global, and other VCs such as Kunal Shah, Anand Chandrashekharan, and Anjali Bansal.
Mudrex has transitioned itself into an investing platform for the cryptocurrency market. Some of the international competitors are BlockFi, Celsius, Nexo, etc.
Mudrex – Funding and Investors
Mudrex has raised a Pre-series A funding round on February 8, 2022, which came from Arkam Ventures, Tribe Capital and Bolt by QED Investors. With this funding round Mudrex aims to boost user acquisition, licensing and looks up to a quick expansion in geographies like India, the US, Europe and Latin America.
This came after 4 months since Mudrex last raised $2.5 mn from Nexus Ventures in August 2021.
Mudrex’s funding details are as follows:
Date
Stage
Amount
Investors
February 8, 2022
Pre-Series A
$6.5 mn
Tribe, Arkam and Bolt
Aug 10, 2021
Seed
$2.5 Mn
Nexus Venture Partners with participation from Village
September 1, 2020
Pre-Seed Round
$250K
–
March 18, 2019
Seed Round
$500k
Y Combinator, Better Capital
“With the funds raised, we will be looking to perfect our existing products and introduce tools for simplifying the investing journey of investors. Furthermore, the capital will be utilized to expand the team globally and establish Mudrex as a leading crypto investment platform” – says Edul Patel, Co-founder & CEO, Mudrex.
Mudrex – Challenges Faced
Mudrex was started as a cryptocurrency exchange for India. The biggest challenge they faced was right before the launch of the platform in 2018. But just before going live, the RBI’s single unilateral decision robbed Mudrex of its entire market. On 8th April, the RBI decided to ban crypto trading in India which led to a massive setback for Mudrex. The team realized that an exchange is highly commoditized and the actual value is the investing part. They wanted to serve a global audience, hence turning the setback into an opportunity. Years later they launched Mudrex as a crypto investment platform.
Mudrex – Business Model & Revenue Model
Mudrex operates in a B2B2C business model. In Mudrex, there is a fee for different algorithms that you choose to invest with. The starting fee is as low as 1%-2% on average per month for investing in these products. And typically users see 7%-8% on their returns.
1. Mudrex Exchange – Build Mudrex’s retail-focused property. The team is building a full-fledged end-to-end crypto trading and investing platform. Users will be able to buy crypto from fiat, store it, trade it and invest it. They are working on a mobile app as well
2. Mudrex Capital focused on institutions – Provide bespoke services to 250k USD> clients. Institutional investors focused on the asset management desk providing bespoke products to HNIs, Funds, and institutions. The minimum check size for this is 250k. Mudrex will be advancing this desk to start providing services to others
3. Investment as a service
Working with liquidity gatekeepers as channel partners
Provide investment options directly to exchanges, wallets, and liquidity sources as a service to let their users invest
Five global integrations with exchanges across confirmed, there are 13 more in the pipeline.
4. ‘Shopify For traders’
Work with product gatekeepers as channel partners.
Repackage the Mudrex billing, subscription, and payments infrastructure in a service that traders use to run their own subscription business and community.
The pilot is already running. The product will go live soon this year
5. Products based on Mutual funds like layer
Mudrex is planning to launch a Crypto product based on themes in the upcoming weeks
The product modeled on the lines of ETFs/Mutual Fund will help users to participate in crypto retail
6. Team Expansion – Mudrex recently raised $2.5 million from Nexus Venture Partners as part of its seed round. The funds will be used to expand the company’s personnel and operations, as well as develop new products that meet global regulatory requirements.
Mudrex – FAQs
What is Mudrex?
Mudrex is a Global Crypto Investment Platform. It deals in 2 Products – Mudrex Portfolio & Mudrex Coin Sets. The former democratizes access to investment opportunities in financial markets for investors and offers trading strategies that best suit the risk profile. Whereas Mudrex Coin Sets are baskets of crypto tokens that will help users generate good returns in the long term.
Who are the founders of Mudrex?
Mudrex is a team of four co-founders from IIT Bombay and IIT Kanpur – Edul Patel (CEO), Prince Arora (VP, Engineering), Rohit Goyal (VP, DeFi), and Alankar Saxena (CTO).
How does Mudrex make money?
In Mudrex, there is a fee for different algorithms that you choose to invest with. The starting fee is as low as 1%-2% on average per month for investing in these products. And typically users see 7%-8% on their returns.
Is Mudrex an Indian Company?
Mudrex is a US-headquartered and Bengaluru-based fintech startup.
What is Mudrex’s USP?
Being a holistic destination for all crypto investment requirements remains Mudrex’s biggest USP. Another major differentiator is theno coder feature offered to seasoned traders. This was introduced as the team realized that global exchanges that are open 24*7 do not provide accessible tools and proper infrastructure to trade.
This article is contributed by the multiple entrepreneurs from different fields.
While starting a business, your prime goal is to make it a success and reach the top, no matter what. Amidst this, there are other aims as well that entrepreneurs set and plan to achieve, they can be long-term as well as short-term but they are the stepping stones that help in reaching your prime goal. These aims can literally change the direction of your business and it wouldn’t be wrong to say that, one must be very careful while setting them.
In this article, some of the entrepreneurs shared their goals for 2022. So, without any further ado, let’s get started.
Rohit Sahni | CEO & Founder, WK Life
Rohit Sahni | CEO & Founder, WK Life
In 2022, we all are set to expand aggressively by opening new stores and our target is to open 50 more outlets this year. To achieve the same we have started to manufacture our own products and about 30% of our products are made in India. With the help of the franchise partners, we are also trying to set up our own factories in India. First, we will start with North India and then we will go towards the south in the later stage of the year. We are continuously working on maintaining and improving the quality of the products so that we can make our customers happy and satisfied.
Shyatto Raha | CEO & Founder, MyHealthcare
Shyatto Raha | CEO & Founder, MyHealthcare
Our main motive is to democratise healthcare and make it available for everyone. Our partner network of healthcare providers is scheduled to cross over 100 speciality hospitals by March 2022. We have a clear motive this year and that is to expand our service and provider network across Tier 2 and Tier 3 cities of India. We are also looking forward to plans to continue our expansion into Asia, the Middle East, and Africa.
Abhinav Mital | Founder, The WorldGrad
Abhinav Mital | Founder, The WorldGrad
2021 laid the groundwork for growing the category of online or hybrid study abroad programs. As a pioneer and leader in this space, we want to put this category of programs on the consideration set of overseas education aspirants. This would require demonstrating success stories of our current students and spreading awareness amongst school students, admissions counselors, and the larger study abroad eco-system. The WorldGrad has already built a team of 50 people to support this mission and will scale this to over 150 people throughout 2022. With significant investments in student experience, admissions, and support. In 2022, The WorldGrad will also become the first provider of virtual internships to our students that will allow them to get work experience in a country of choice while they study online with us.
Ankur Singh | CEO & Founder, Witzeal Technologies Pvt. Ltd
Ankur Singh | CEO & Founder, Witzeal Technologies Pvt. Ltd
While gaming technology advances, I believe that innovation and personalization of experiences are the game-changers. We, at Witzeal, intend to incorporate them into our platform such that our gamers can have a richer gaming experience and connect with billions of players across the world who speak the most popular gaming language.
Himanshu Arya | CEO & Founder, Grapes
Himanshu Arya | CEO & Founder, Grapes
The Pandemic is the reason why the digital growth in the advertising and marketing industry has accelerated. In the last one and a half years, marketers are backing on creativity, digital, and data- all with the help of technology. The A&M industry is on a trajectory of growth. Our motto for 2022 will be to expand into newer markets and acquire new clientele. We can achieve this when we continue to deliver remarkable work to our clients. It is the uncompromising quality of work that will echo our expertise among the leading brands, convincing them to initiate a collaboration with Grapes. Hence, satisfaction plays an inordinate role in the functioning, abiding by our ideology to achieve recognition through our work.
Apu Pavithran | CEO & Founder, Mitsogo
Apu Pavithran | CEO & Founder, Mitsogo
Mitsogo recently launched its partnership with reputed companies like Cloudflare and Traced App. We are now aiming to expand the partner network: which means establishing new partnerships with many more technologies as well as adding new channel partners. Multiple new partnerships are currently next in line and are expected to be launched soon. In terms of company growth, we are expecting to double the employee workforce and for that, we are aggressively hiring from the reputed colleges across India. Moreover, the company is all set to launch the next product, Hexnode Do, a SaaS app management platform that will provide a unified platform to manage and secure different SaaS applications.
Vatsal Agarwal | Founder, The Baklava Box
Vatsal Agarwal – Founder, The Baklava-Box
Our main goal for 2022 would be to adopt an omnichannel model. Currently, we have one retail outlet and three counters in Nature’s basket outlets. We plan to expand this to five retail outlets and 15 counters across Nature’s basket stores. We have been trying to get to experiment with their holiday gifting with our gift hampers and that has been a great impetus for people to try our products. We are trying to come up with more innovative ways to try our products plus making more people aware of Mediterranean sweets is also a goal, for this year.
Nishant Behl | CEO & Founder, Expand My Business
Nishant Behl | CEO & Founder, Expand My Business
2022 is going to be a very important year for us. In terms of strategic values, we are looking to expand our operations in the GCC region and establish our firm presence in its market. The Middle East has several opportunities for providing digital services and can help us achieve our goal of increasing our revenues by 200% and having an overall 3X growth. We also plan to onboard many more vendors from tier-3 and tier-4 cities to create more opportunities and generate more business for the Indian digital service providers.
We are planning to undertake a massive hiring spree for the same. This can help us achieve our targets for 2022 and increase our sales manifold. With Blockchain and Cryptocurrency gaining impetus in the market, we have also included blockchain development and NFT in our service domains and have made considerable progress in providing web hosting services to several businesses across India as well.
Varun Vashisthaa | Founder, HairVeda
Varun Vashistha | Founder, HairVeda
We, at HairVeda planning to be present in all eCommerce marketplaces by the end of this year and expand our business by partnering with other startups as well. Also, we are preparing to foray into the skincare Ayurvedic product range. Apart from this, we intend to hire the right talents for our brand in multiple positions to strengthen the team capacity.
Shriyans Bhandari | CEO & Co-Founder, Greensole
Shriyans Bhandari | CEO & Co-Founder, Greensole
In 2022, we aspire to work towards making a mainstream retail brand. Retail is overall a tough market to crack because it’s highly competitive. A lot of different elements go into it like specialized skills, marketing, and coordinating. We believe that in 2022, we will pull it off and come up as a strong, sustainable, and vegan brand with a large customer base. We hope people resonate with our social work.
Kunal Patil | CEO & Co-Founder, WorkIndia
Kunal Patil | CEO & Co-Founder, WorkIndia
WorkIndia plans to reach out to the next billion Indians and change the way they hire and get hired fundamentally. The goal gains are much more important in light of job losses because of covid. We are committed to scaling up while improving the user experience and introducing technology in the day-to-day hiring operations. WorkIndia is committed to providing a meaningful livelihood to the entire Blue-Collar workforce in India through technology. In terms of business, we are expecting better growth this year to reach our goal of becoming a $20mn Annual Revenue Run Rate company.
Akshay Puljal | CEO, Quikish
Akshay Puljal | CEO, Quikish
We, of course, want to increase our market share. We can only achieve this by giving something to our consumers. And what we want to give them is time. Simplifying, putting sumptuous and healthy meals on the table in a fraction of the time it conventionally takes, is how we can achieve that. We also want to cater to consumers with dietary restrictions due to health reasons or by choice. Not every brand takes them into account as it’s a very small percentage but Quikish sees no reason to not deliver the promise of quick meals to them too. We have a couple of vegan dishes now and we aim to expand the range significantly this year. While we do have 65+ products currently on our menu, we do want to explore new horizons and cuisines with our dishes. We are aiming to have 120+ products on our catalogue by the end of 2022.
Shilpa Rathi | Founder, I Am Love
Shilpa Rathi | Founder, I AM Love
2022 is a very exciting year for our brand. We are now trying to get our sales up. Our consumers are believing in our product and are sharing their feedback about their success and progress with us. we are looking forward to 2022 so that we can establish our brand better as a skincare brand where you take care of the problem from within. We don’t only want to reach out to consumers of general skincare like ‘Get a glowing skin’ or ‘Get better skin’ but specific skincare concerns like ‘Could you give me a solution for this new spot that I’ve developed?’. We want to become the one-stop-shop for all specific skincare concerns that you might have – I Am Love will be the destination. We are looking at developing and formulating products that target specific healthcare concerns which haven’t been paid head to in the market.
Farooq Adam | Co-Founder, Fynd
Farooq Adam | Co-Founder, Fynd
We have big things planned for 2022 and we have already started rolling out new products & processes to make our plans a successful reality.
Here is a look at what we plan to do in 2022:
Entering the electronic industry with more marketplace integration on Fynd Omnichannel – Flipkart, Tata Cliq, and Amazon in 2021
Fynd Store enabled the “order online & pick up at store” feature.
A new level of personalization – the Fynd store will allow brands to view an individual customer’s past purchases and interests. A brilliant chance for stores to personalize the customer experience and suggest relevant products that the customer loves.
Hyperlocal deliveries, to get products to the customer within hours.
Adding trell and Magicpin to Fyndl’s omnichannel marketplace integrations.
International shipment support with DHL & Aramex.
Fynd marketplace is gearing up to list 100+ brands & thrice the inventory in the coming months.
Launch of a scalable image enhancement & editing tool, upscale.media.
Launch of Boltic, our no-code big data processing tool to connect, build and automate workflows. Easy to start, easier to use with no dependency on technical expertise.
Our target is to expand our distribution network to 100 cities/towns in 2022. The entire blue print is already ready for execution and we have started on a very positive note in January, 2022. We are in the process of strengthening out platform which will be offering to a the sub-distributors across these 100 cities. Our platform Ripplr will be 1st of its kind UBER experience for the distribution fraternity easing out the complexities of managing the day to day operations.
Rasesh Seth | Founder, Nextyn
Rasesh Seth | Founder, Nextyn
At Nextyn, we’ve been successful at building a world class team based out of India, servicing clients in over 20 countries. Having breached the $1 Mn revenue mark being completely bootstrapped, we aim to expand our geographical presence to the UK, USA and Singapore in 2022.
We would launch subsidiaries in these countries, acting as our sales and client management offices, with the core operations still being based out of India.
We also aim to strengthen our technological foothold, making our currently ML algorithm more accurate and increase our panel of experts to give our clients a more diverse, global knowledge base.
Conclusion
A business is all about achieving the goals that it has set. The above entrepreneurs have already set the targets and with their immense hard work and patience, hopefully, they’ll be able to achieve all of them.
The cryptocurrencies such as Bitcoin and Dogecoin had been surging their value in recent years. The meme-based Dogecoin had reached its all-time high being part of the top 10 cryptocurrencies according to the market capitalization. Other than Bitcoin and Dogecoin there is a new cryptocurrency creating excitement in the crypto market called Shiba Inu Coin. Let’s look at what is Shiba Inu Coin, expert opinions and its price prediction.
There is not much information available about this cryptocurrency. The crypto is considered to have been made in order to provide competition to Dogecoin. The website of Shiba Inu Coin claims that it has an experiment in order to the decentralized voluntary building of community.
Shiba Inu Coin Website
The coin features a hunting dog from Japan, Shiba Inu which rose in popularity due to the Dogecoin as this is also considered to be another meme coin. The website shares the message that this token is their first and the users have the choice to hold billions or even trillions of them.
The nickname of the coin is Dogecoin killer and claims that everyone should own one from the open market.
According to the data received from CoinMarketCap, the Shiba Inu Coin had given a return of 120 % in the time period of 24 hours at one point in time. When compared to a 7 day time period the coin has provided a return of around 1970.57 %.
The meme-based cryptocurrency, Shiba Inu Coin which is positioned to be a rival coin of Dogecoin has a market capitalization of USD 15 billion whereas Dogecoin has a market capitalization of USD 22 billion as of 2021.
Expert Opinions about Shiba Inu Coin
Investorplace.com has recently conducted deep research into the Shiba Inu coin which conveyed that the predictions of the price of currency have been heating up due to the enormous gains of the cryptocurrency. However, it is seen that the investors are not yet rushing to invest their money into the new cryptocurrency.
Investorplace.com had done a dive into the number of predictions about the new coin where they found out WalletInvestor has suggested that Shiba Inu coin is not a good investment for the long term.
They also have an estimated prediction that the value of this cryptocurrency would see a downfall by the end of 2022 to somewhere in between USD 0.000029 to USD 0.000016. But DigitalCoinPrice has predicted that there would be an increase in the price of the cryptocurrency and would see a jump by the end of 2021 to USD 0.000044.
Gov Capital has predicted that Shiba Inu Coin would see a huge drop falling to USD 0.000006.
If you are not sure whether you should invest in this cryptocurrency, then take some steps before getting into the decision and investing your money into it. First of all, try to understand the fundamentals of cryptocurrency before you decide to trade with it.
Understand the project and go through various risk management techniques and adjust it according to your capacity to bear the risk of which one would vary from one individual to another.
The most important point which should be noted before investing your money into cryptocurrency is that you should be satisfied before investing, with your research and studies and never buy or invest your money into the coin because of someone else’s advice.
Shiba Inu Coin Price Prediction
Shiba Inu Coin Price Prediction
Shiba Inu coin is a highly volatile coin as it is a meme coin and to predict its price is difficult as it is linked to the hype. The meme coin is expected to grow from $0.000014 at the end of 2025 to $0.000028 in 2030. As of 2022, the Shiba Inu Coin price in rupees is ₹0.002318.
Shiba Inu Coin Price in INR
Will Shiba Inu Coin Reach $1?
The current price of Shiba Inu is 0.000031 and reaching the $1 mark may sound impossible but we should remember that this is a highly volatile coin, also the price of the coin is linked to the hype of the projects. But can it hit $1? probably not. If Shiba Inu reaches $1, the market cap of the coin would be $550 trillion which would be higher than every combined economy of the world and 650 times the market cap of Bitcoin. So, it is highly unlikely that Shiba Inu will reach $1 in 2025 or 2030.
Conclusion
There can be risks involved with these get-rich-quick coins, even though the percentage returns provided by the cryptocurrency in the past may look attractive, there are a lot of cases where such coins have lost their value and provided negative returns after a few months.
FAQ
What is the use of the Shiba Inu coin?
Shiba Inu tokens are powered by Ethereum. Fungible tokens like Shiba Inu are ERC-20 tokens.
How many Shiba coins are left?
As of 17 May 2021, a total of 394.796 trillion Shiba Tokens were in circulation, with a market cap of $6.52 billion USD.
Where can I buy the Shiba Inu coin?
You can currently buy Shiba Inu coins on platforms like Binance, Huobi Global, OKEx, Hotcoin Global, and MXC.COM.
The world has evolved over time and technology has played a great role in that. Money isn’t just paper anymore, it has taken the form of digital currency as well. The word cryptocurrency is always on-trend now. People are realizing its characteristics slowly but steadily.
A few years ago, the concepts of cryptos were not that popular. The cryptocurrency was invented in 2008 by an unknown individual or group called Satoshi Nakamoto but started gaining momentum in recent years.
To be specific, Cryptocurrency is nothing but a form of digital currency that runs on blockchain technology which means it is decentralized in nature and cannot be controlled by any Government or any mediator.
Cryptocurrency can be exchanged through various trading sites and amongst all those sites, we have CoinDCX. In this article, we will talk about India’s first crypto unicorn, CoinDCX’s business model and how it makes money. So let’s get started.
“Cryptocurrency will change market structures, and maybe even the architecture of the Internet itself.” -Abigail Johnson
CoinDCX is a company that focuses on providing cryptocurrency-related financial services and is into cryptocurrency trading networks. It concentrates on giving the customers a quick, risk-free, effortless, and reliable trading experience. It is also considered the safest and largest cryptocurrency legal exchange platform where one can buy and sell various types of cryptocurrencies.
CoinDCX Website
The company has developed a trading platform where traders using CoinDCX have given the facility to trade various industry-first products by using exchange liquidity.
CoinDCX was founded by Neeraj Khandelwal and Sumit Gupta in the month of April 2018, both of the founders have graduated from IIT Bombay.
Neeraj Khandelwal and Sumit Gupta
When Bitcoin started gaining momentum in 2014, the founders realized that it would be great to take the support of blockchain technology to get started with financial inclusion.
Both of them strived hard to make this site the safest place for traders to buy and sell cryptocurrencies. As of over 188 people are working in CoinDCX as their employees.
Features of CoinDCX
CoinDCX is attracting the attention of crypto traders because of its several amazing features. Some of them are down below:
It is quite easy, simple, and fast. One can just start investing in just 10 minutes.
Another significant feature is that is CoinDCX is safe to use. Any kind of trading or investment is safe here on this site.
The adding and withdrawing of the fund can be done very quickly. It is not time taking.
Target Audience of CoinDCX
People who are interested to buy and sell their cryptocurrencies in huge amounts are mainly the target audience of CoinDCX. It is in a mission to entice the people from millennials and Generation Z. It is operated worldwide and is for all types of traders taking into consideration their trading history, risk tolerance, and the number of times they have traded.
CoinDCX provides a number of tokens for exchange to the traders. Some of the popular tokens are:
Bitcoin
Ethereum
Bitcoin Cash
Litecoin
Binance Coin
Chainlink
EOS
Tether
Cardano
Stellar Lumens
Ripple
Tron
Matic Network
Basic Attention Token
Business Model of CoinDCX
The development of the single point access by the CoinDCX helps in trading all kinds of cryptocurrencies that can be found in over 500 markets. Such is their trade machine engine is built that it is able to process 1 million transactions in just a second.
CoinDCX makes money like any other trading platform by charging a transaction fee during every exchange. Apart from that the company also makes money through the withdrawal sum, deposit fees, and the commission received from trading. INR is converted into cryptos by the trader and cryptos are converted into INR on DCXInsta.
How Does CoinDCX Make Money?
CoinDCX basically makes money from deposit fees, withdrawal fees, trading commission, and listing fees. Deposit fees are charged while exchanging currencies. Plus withdrawal fees and trading commission are derived from any normal transaction and exchange.
Revenue Of CoinDCX
CoinDCX’s current value is $1.1 billion and with people taking an interest in cryptocurrencies the amount will increase in the near future. Recently, it has been able to raise funds over $109 Million from five investors, thus leading it to add its name to the list of unicorns and it has also become the first crypto unicorn of India.
Current Scenario Of CoinDCX
With the sudden bump in the journey of cryptos, the company’s future is also in question. After the ban on cryptocurrency by the Chinese Government, the digital currency market faced a big loss.
CoinDCX at first during the early period of this year roped in Bollywood superstar, Amitabh Bachchan as their Brand Ambassador. Following some tension regarding the cryptocurrencies clarity in its legality, Bachchan withdrew his name as its ambassador.
CoinDCX Amitabh Bachchan
After that CoinDCX again announced Bollywood actor Ayushmann Khurrana as its new brand ambassador for their campaign ‘Future Yahi Hai’. This campaign was set to promote the safety of the platform for trading cryptocurrencies and acknowledge all the concerns related to cryptos.
In the last few weeks, there is a huge ruckus going on regarding the legality of cryptocurrencies in India, the decision regarding the future of Crypto would be taken on the 13th of December 2020 by the Prime Minister of India, Narendra Modi. The fate of CoinDCX and its other competitors will be decided in just a few days.
Cryptocurrency, even after its fluctuating nature was able to hold the attention of the people, naturally trading platforms like CoinDCX were quite a help for the traders that wanted to exchange cryptocurrencies safely. It tried its level best. Although the future of the company is unknown and depends on the Cryptocurrency bill of the country, one cannot deny the successful model and ways of the company that helped them in becoming the first Unicorn that too in the field of cryptos in just a span of three years.
FAQ
How much does CoinDCX charge per trade?
CoinDCX charges takers 0.04%, and makers 0.06%.
What is CoinDCX and how it works?
CoinDCX provides crypto-related finance services. It has a trading platform that traders can use to invest in crypto.
Who is the founder of CoinDCX?
CoinDCX was founded by Sumit Gupta & Neeraj Khandelwal on 7 April 2018.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Binance.
The advent of cryptocurrencies spawned a slew of crypto exchanges to make trading and purchasing cryptos easier. Because cryptocurrencies are digital assets, investors have a variety of problems exchanging them on current networks. One of the key reasons for the creation of many exchanges is this.
A small number of bitcoin exchanges have suddenly grown into multibillion-dollar businesses. The rise in popularity of bitcoin has transformed previously small-time platforms into powerhouses that generate millions of dollars in income every day.
The staggering profits are a slap in the face to stock and currency trading companies that have chosen to stay out of the digital asset industry. They must watch while start-ups with just four years on the market brag about huge profits. What remains to be seen is, how long the euphoria will persist.
Know more about the company profile, startup story, founder, business model, etc., of Binance by reading this article further.
Binance is a cryptocurrency exchange platform that mixes finance and digital technologies. Binance is a company that provides blockchain and cryptocurrency infrastructure. The company allows users to trade digital currency pairings on the market while retaining security and liquidity, allowing them to transact safely and efficiently with anybody, at any time and from any location.
Trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and other crypto products and services are all part of its portfolio.
In its whole journey, to date, Binance has introduced two cryptocurrencies that it created: Binance Coin (launched June 2017) and Binance Smart Chain (launched September 2020). The Binance Smart Chain uses “Proof of Staked Authority,” which is a hybrid of proof of stake and proof of authority. 21 validators have been approved. Binance Coin was the third-largest cryptocurrency by market value in 2021. Binance users may use Binance Coin to pay fees on the exchange.
Binance is a FinTech firm that provides clients in over 180 countries with a variety of crypto-related goods. The Binance exchange, which allows both retail and institutional investors to purchase, sell, and trade bitcoin, is the company’s main product. On the site, you may trade over 500 different currencies.
Binance is also distinguished from other exchanges by the large number of trading choices it provides. Stop limit or market orders, leverage trading, and peer-to-peer trading are some examples. Users can also contribute their current crypto assets to one of Binance’s organizations. The platform does not take a cut, and all revenues are donated to the user’s preferred charity.
Binance – Latest News
9th January 2022 – While probing a multi-million dollar scandal connected to fraudulent online investing mobile apps, Pakistan’s Federal Investigation Agency issued a warning to a major cryptocurrency exchange, Binance,
“An order of attendance has been issued to Hamza Khan, the general manager/growth analyst at Binance Pakistan, to explain his position on the company’s linkage to “fraudulent online investment mobile applications,” an FIA Cyber Wing (Sindh) press release said.
The inquiry was launched to investigate a series of online investment scams taking place in Pakistan under the pretext of Ponzi schemes, in which naive investors are promised large returns on their money if they bring in additional clients, according to the agency.
“A relevant questionnaire has also been sent to [the] Binance Headquarters [in] the Cayman Islands and Binance US to explain the same,” it said.
According to the company, Binance is the “biggest unregulated virtual currency exchange” in the world, with Pakistanis spending millions of dollars. The agency received multiple complaints from citizens around the country on December 20 last year, alleging that they had lost billions of rupees while using specific mobile applications.
According to the FIA, these apps convinced consumers to sign up for Binance Crypto Exchange (Binance Holdings Limited) and then move money from their Binance Wallet to the app’s account. At the same time, all members of the group were joined to Telegram groups where the anonymous owner of the program and moderators of the Telegram groups provided professional betting indications on the rise and fall of Bitcoin.
Once a substantial capital foundation had been formed, these applications failed, depriving users of millions of dollars through the “referral bonus mechanism.” According to the FIA’s preliminary results, each app had an average of 5,000 subscribers, with the HFC app boasting the highest client base of 30,000.
The agency has contacted Telegram to request information on the location of the administrators of fake applications.
“Legal letters are also being sent to social media influencers pushing these applications to clarify their point of contact with the apps,” according to the press release.
Binance – Industry
A cryptocurrency exchange, also known as digital currency exchange (DCE), is a company that lets consumers swap cryptocurrencies or digital currencies for other assets like fiat money or other digital currencies. Credit card payments, wire transfers, and other modes of payment may be accepted through exchanges in exchange for digital currencies or cryptocurrencies.
A cryptocurrency exchange may either be a market maker that charges a transaction commission based on the bid-ask spreads or a matching platform that simply collects costs.
COVID-19 has had an unprecedented and astounding worldwide impact, with cryptocurrencies experiencing a positive demand shock across all areas as a result of the epidemic. According to the research, the worldwide market will rise by 10% in 2020, compared to a 5% year-on-year increase from 2017 to 2019.
During the period 2021-2028, the market is expected to increase at a CAGR of 11.1 percent, from USD 910.3 million in 2021 to USD 1,902.5 million in 2028. This market’s demand and growth are responsible for the continuous increase in CAGR, which will revert to pre-pandemic levels after the pandemic is ended.
Binance – Name, Logo, and Tagline
The designers intended to use two squares in the company logo to reflect the bids and requests on the exchange while also repeating the “binary” term in the logo (Binance = Binary Finance).
Binance Logo
The term “Binance” comes from the words “bitcoin” and “financial.”
Binance’s company tagline says, “Revolutionary Trading With Half the Fees & Your Dividends Paid.”
Binance – Founders
Changpeng Zhao founded Binance crypto-exchange in 2017.
Founder of Binance – Changpeng Zhao
Chanpeng Zhao
Changpeng Zhao is a Chinese-Canadian business executive who goes by the moniker “CZ.” Zhao is the founder and CEO of Binance, which, as of April 2018, was the world’s largest cryptocurrency exchange by trading volume. Zhao was a part of the Blockchain.info development team and also served as the chief technical officer of OKCoin.
Zhao founded Binance, a cryptocurrency exchange, in 2017, after leaving OKCoin. After obtaining $15 million in an initial coin offering, the firm was launched in July 2017.
As of April 2018, Zhao had grown Binance into the world’s largest cryptocurrency exchange by trading volume in less than eight months. He was ranked third on Forbes Magazine’s list of “The Richest People in Cryptocurrency” in February 2018. His net worth is expected to be $96 billion in 2022.
Forbes Richest People in Cryptocurrency
Binance – Startup Story
Zhao’s life would be forever changed by a single night in August of 2013. He was playing poker in Shanghai with two of his pals, Bobby Lee, the creator of the BTCC Bitcoin exchange, and Ron Cao, a partner at Lightspeed Ventures at the time. Cao continued saying something that sounded like “Bit Coin,” but pronounced it as two syllables. It was Zhao’s first time hearing about it.
He overheard Cao suggesting that he should launch a startup on Bit Coin or blockchain. Then Lee suggested that he should invest 10% of his net worth in it. If it reaches zero, he would lose 10% of his investment. There was a good probability that it would go 10X and he would double his money.
His pals weren’t kidding when they said the same. Zhao was enthralled. He eventually raised him: a few months later, he sold his house for $1 million and placed everything on Bitcoin. BTC was trading for $600 per coin at the time. Despite Bitcoin’s price plunging as low as $200 at times, Zhao told Decrypt he hasn’t touched it. The value of the savings account has risen to $17 million.
The man has never shied away from taking chances since then. Changpeng Zhao, a developer who had previously designed high-frequency trading software, launched Binance. Binance was founded in China but moved its headquarters out of the country after the Chinese government tightened its grip on cryptocurrencies.
Fusion Solutions, founded by CEO Changpeng Zhao in Shanghai in 2005, specializes in high-frequency trading systems for stockbrokers. In 2013, he became the third member of the team at Blockchain.info, a bitcoin wallet. He also spent less than a year as the CTO of OKCoin, a platform for spot trading between fiat and digital assets.
With a market value of $1.3 billion in January 2018, Binance was the largest cryptocurrency exchange, a record it maintained until April 2021, despite competition from Coinbase and others.
Binance has introduced two cryptocurrencies that it built itself throughout its history: Binance Coin (BNB) in June 2017 and Binance Smart Chain (BSC) in September 2020.
Binance’s vision statement says, “Our vision is to increase the freedom of money globally. We believe that by spreading this freedom, we can significantly improve lives around the world”
Binance’s mission statement says, “Our mission is to be the infrastructure services provider for the blockchain ecosystem.”
Binance – Employees
Changpeng Zhao – CEO & Founder
Teck Chia – Partner
Yi He – Co-founder and CMO
Jarred Winn – Senior Vice President
Gleb Kostarev – CIS and Eastern Europe, Russia
David An – Director BD | NFT
Mai Lu – Vice President of Asia Pacific
Binance – Business Model, and Revenue Model
Trading fees, interest on loans, fees from its broker program, spreads, cloud products, interchange fees, mining services, and investment earnings are all sources of revenue for Binance. The site used to make money by charging listing fees when new cryptocurrencies were launched.
Binance is also distinguished from other exchanges by the large number of trading choices it provides. Stop limit or market orders, leverage trading, and peer-to-peer trading are some examples. Users can also contribute their current crypto assets to one of Binance’s organizations. The platform does not take a cut, and all revenues are donated to the user’s preferred charity.
Binance does not provide free cryptocurrency trading. Binance charges a range of fees for the various trading items it provides. On Binance, both retail and institutional investors can trade in a variety of ways, including on margin, through future contracts, and by acquiring synthetic stock tokens.
When it comes to cryptocurrencies, Binance charges a fee every time a customer buys or sells a digital asset. Binance charges a 0.1 percent commission on all trades. Those costs will be reduced if traders utilize BNB, Binance’s currency. In addition, when a trader wishes to cash out his or her profits, Binance imposes a withdrawal fee.
Binance has raised a total of $35 million in ten rounds of fundraising.
Date
Round
Amount
Lead Investors
Dec 1, 2020
Initial Coin Offering
–
–
Oct 23, 2018
Venture Round
–
Vertex Ventures
Nov 1, 2017
Initial Coin Offering
–
–
Nov 1, 2017
Initial Coin Offering
–
–
Sep 1, 2017
Series A
$10M
–
Sep 1, 2017
Series A
$10M
Black Hole Capital, Funcity Capital
Jul 21, 2017
Initial Coin Offering
–
–
Jul 1, 2017
Initial Coin Offering
$15M
–
Jul 1, 2017
Initial Coin Offering
–
–
Jan 1, 2017
Initial Coin Offering
–
–
Binance – Investments
Binance has invested in 56 different companies.
Date
Organization Name
Round
Amount
Nov 23, 2021
Avocado Guild
Series A
$18M
Nov 4, 2021
Mythical Games
Series C
$150M
Nov 2, 2021
SecondLive
Seed Round
–
Nov 1, 2021
StarSharks
Seed Round
–
Oct 22, 2021
Melos Studio
Venture Round
–
Sep 16, 2021
LayerZero Labs
Series A
$6.3M
Apr 13, 2021
MOUND
Seed Round
$1.6M
Apr 1, 2021
Mask Network
Venture Round
–
Mar 30, 2021
PureStake
Series A
$6M
Mar 29, 2021
EPNS
Seed Round
$660K
Binance – Acquisitions
Binance has acquired seven businesses.
Acquiree Name
About Acquiree
Date
Amount
Swipe.io
Swipe.io offers a multi-currency crypto wallet app as well as a crypto-to-fiat funded Visa debit card.
Jun 30, 2020
–
CoinMarketCap
CoinMarketCap provides transparent data to the cryptocurrency community, enabling users to form conclusions and interpretations.
Apr 1, 2020
$400M
BxB
BxB is building KRWb, a stable bridge from Korea to anywhere. It’s a globally accessible, 1:1 stable coin backed by the Korean Won.
Mar 31, 2020
–
DappReview
DappReview is a DApp ranking evaluation platform
Dec 3, 2019
–
WazirX
India’s leading bitcoin exchange
Nov 21, 2019
–
JEX Customer Care Number
JEX is a crypto futures and options exchange.
Sep 3, 2019
–
Trust Wallet
Trust Wallet is a mobile wallet company for Ethereum and ERC20/ERC223 tokens.
Jul 31, 2018
–
Binance – Growth
In 2020, already-vulnerable economies and countries witnessed unprecedented volatility and instability in global markets. With global economic uncertainty, inflation, and traditional assets all suffering as a result of the pandemic’s macroeconomic shock, individuals all around the world are rapidly turning to bitcoin and cryptocurrency as alternative assets. As a result, the cryptocurrency industry has exploded, allowing mainstream audiences to embrace cryptocurrency adoption for the first time.
Binance, a crypto version of the London, New York, and Hong Kong stock markets, was founded just four years ago and already towers over the digital currency industry. According to data source CryptoCompare, Binance conducts more deals for cryptocurrencies like bitcoin and ether each day, totalling $76 billion, than its four top competitors combined.
Binance, a prominent cryptocurrency exchange, has been chased by financial regulators all around the globe. Some have prohibited the site from engaging in specific operations, while others have alerted users that it is operating without a license. Because Binance does not provide financial information, it’s difficult to assess whether the company has suffered a setback.
Despite the regulatory pressure, the exchange has taken several important movements. Zhao, the CEO of Binance, stated that he wanted to repair his relationship with authorities. Their consent would be sought, and regional headquarters would be established.
Binance has also scaled back certain of its cryptocurrency goods that may be subject to regulatory oversight. It announced in 2021 that it will cease its European futures and derivatives business, with users in Germany, Italy, and the Netherlands among the first to be affected.
It has also limited Hong Kong customers’ ability to trade derivatives, citing the decision as “in keeping with our commitment to compliance.” Binance likewise ceased trading digital tokens connected to stocks in July 2021 after authorities slammed its “stock token.” It also announced that it will no longer allow crypto margin trading in the Australian dollar, euro, or pound sterling.
Binance hit an all-time high of $15 billion in 24-hour spot trading volume in 2021, while the average daily spot trading volume climbed by 36% to $3.88 billion. In addition, consumers looking for hedging and liquidity went to the crypto futures market. Binance Futures has risen to become the world’s leading crypto futures contract, with the highest trading volumes for Bitcoin and numerous other cryptocurrencies.
The company’s objective is to continue complying with local norms and regulations so that it can safeguard and give the finest services to its consumers while also increasing adoption.
In addition to the numerous RegTech solutions it invests in and compliance partner organizations with whom it collaborates, the company continues to collaborate closely with regulators, complying in the places where it operates as a global decentralized organization and assisting in the positive influence of regulations that will benefit our industry. According to the creator, the firm aims to collaborate with more local governments and officials in the coming years and encourages them to do so.
Binance – FAQs
Is Binance bigger than Coinbase?
Yes, Binance is the largest cryptocurrency exchange by volume.
How much does Binance make in a day?
Binance makes approximately $76 Billion a Day.
Which countries cannot use Binance?
The people in the UK cannot use Binance, as the crypto exchange is banned in the country.
The world has changed completely, from creating fire with the help of stones to the creation of humanoid robots, we have come a long way and honestly, it’s fascinating as well as bewildering, how we have evolved over time. The technological advancement makes it more interesting, now we can do almost anything and everything with just a single touch from our hand. Life has become easier than one could ever imagine and it is also going to get more easier with the advancement of technology.
Now, this easy life sometimes can seem frustrating when you have an overbearing person over you and who consistently finds faults in whatever you’re doing. Unfortunately, this is very common in most work cultures. Imagine, working in a company, where you don’t have an ever frustrated boss continuously nagging you for doing your work. Sounds impossible, right?
Well, it is not impossible anymore, say thank you to the technology-friendly world we live in, for creating something that can get you rid of your scary boss and can give you an option to work freely. Here, we are talking about a company whose CEO is a computer. In this article, we will talk about DAO and how it’s making noise in the world with its unique ability.
“It’s not that we use technology, we live technology.”
A Decentralized Autonomous Organization is also known as DAO is an organization that completely functions on computer codes. This organization is based on Ethereum blockchain technology, another cryptocurrency like bitcoin and smart contracts, this is making everyone go crazy with its unique concept.
A German company called Slock.it built a platform to launch and named it DAO and it was the first self-governing company. It was first launched in 2016 as a crowdfunding organization and made its place in the largest crowdfunding campaign in history.
Slock.it Founders – Simon Jentzsch, Stephan Tual, and Christoph Jentzsch
The code for this is open source. By the end of May 2016, with the help of crowdfunding, over $150 million were raised from more than 11,000 investors.
DAO tokens can be bought through Ethereum cryptocurrency. This thing mainly works with the help of some mathematical codes and transactions are possible without any involvement of a mediator. It has full-fledged security and looks after by the people who have stakes in here. Therefore, there is no CEO, boss, or hierarchy here, and is operated by only its stakeholders.
The token owners have their own system to operate and look after the organization and can be accessed by anyone at any time if they got a computer and internet.
How DAO is Different From Other Companies?
As mentioned before there is no board of directors or senior executives in DAO. Those who hold tokens are the shareholders and are presented with the right to vote regarding any kind of matter of the organization.
Apart from that, there is no employee kind of thing in DAO, contract-based projects are given, they are mostly called Contribution Contract and only after the stakeholder’s discussion, if they give a nod for the project, then the work can get started.
While the project has been started, if the contract anyhow fails to deliver the named project on time, instead of a confrontation between the boss of the company and the contractor, the token holders who voted for the contractor will withdraw their votes. Therefore, then and there the project stopped and the contract ends.
Tips For Contractors of DAO
In any kind of company, one needs to be cautious and sincere with their work. In a company like DAO, one needs to follow some rules strictly and those are:
The work needs to be done on proper time by the contractor.
The quality of the work has to be top class and must not be compromised no matter what.
Respect is one of the prime factors; one should treat people with the utmost respect.
Here the best always gets chances to collaborate with DAO for the projects.
Life has literally become a place where everything revolves around technology; in fact, we live and breathe technologies. We, humans, are evolving, so it is natural that with us every industry will also evolve and will witness a change that is worth watching for.
With cryptocurrency being the next big thing, it is just a matter of time that DAO will make a huge place in the world of business. Plus with its spectacular features, it is bound to be the talk of the world in the upcoming futuristic world.
FAQ
What is the Full Form of DAO?
The full form of DAO is Decentralized Autonomous Organization.
Does DAO depend on Computers?
Yes, DAO or Decentralized Autonomous Organization is an organization that is controlled by computer codes and different programs.
How DAO Tokens Can be Purchased?
One needs to buy Ethereum cryptocurrency and can exchange it online with DAO tokens.
Was DAO Hacked?
Yes, Less than three months after its launch, The DAO was hacked and $60 million of ether was stolen.
We are at a time, where digital currency holds the utmost importance, in our life. Payment card, UPI, and now cryptocurrency, it seems like complete domination is inevitable.
The digital currency has literally grasped the mind of people and the big stacks of notes may become obsolete in the future. In recent years, Cryptocurrency has somehow started gaining momentum, especially amongst the younger generation. So much is the craze that almost everyone is willing to invest some funds in them.
Cryptocurrency at this point has been able to gather attention on itself from everyone. Some are already investing, some are speculating, and some are just watching it from the side. Whatever it is, the world’s eyes are on this, and it cannot be ignored anymore.
The rising star suddenly got a bump in the road, this year in the month of May, Cryptos suddenly saw a great deal of decline, and the market got crashed. Again on the mid of September, the market crashed and somehow it has created tension.
“As the value goes up, heads start to swivel and skeptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it because it is their use that gives the ‘money’ value.”
– Adam B. Levine
In this article, we will find out about the reasons for the crashing of the Crypto market. Before that, let’s find out about what Cryptocurrency is.
A cryptocurrency is a form of digital currency that is decentralized in nature, with the help of Blockchain technologythat means it is not controlled by the government or any other mediator.
It is the direct exchange of this digital currency between two people. People use this to buy goods and services but mostly they are used for investment. Most of the countries still haven’t declared it as legal tender.
There are some common forms of cryptocurrency that are used in the world and they are:
As mentioned above Crypto market crash in the month of May and again in September of this year, the fluctuating nature of cryptocurrency is creating uncertainty amongst investors and others. There are a few reasons that can be identified to be the cause of the crashing of the cryptocurrency market.
Elon Musk Denies Cryptocurrency
In the month of March 2021, Elon Musk the CEO of Tesla, the most valuable car company announced that they are willing to accept the most popular cryptocurrency, that is Bitcoin as a payment method in the USA. With that, it was also said that they will try to introduce this payment method in other countries as well.
By the month of July, the market experienced a 50% dip, and that was quite a lot. Bitcoin faced a 35% plunge at that time.
Bitcoin Price after Elon Musk tweet
We can say that, although cryptos future seems great, but it not being environmentally friendly is causing it a great deal of concern. The news causes apprehension and over 8 lakh traders decimate their investment.
China asked the institutions to refrain from providing services to those who are trying to get them by using cryptos and ordered banks to stop providing support to cryptocurrencies. China even instructs bitcoin has to close down its mining operation in Sichuan and like that it got shut down there.
Even though this prevention did some damage to this digital currency market, in August the market saw a surge, and as per the report, the value rise above $2 trillion.
The good weather didn’t stay good for a long time; China central bank permanently announced that any transaction done with cryptocurrencies is illegal and banned any type of virtual currencies use.
As per them, it placed people’s assets in danger. China banned the trading of cryptocurrencies in 2019 but foreign exchange through online continued happening.
This announcement of China in the month of September of 2021, put the last nail on the coffin of the crypto market in the World’s most populous country. Following this announcement bitcoin showed a 9% drop again.
China was one of the top names in the crypto industry but this sudden move has plummeted the virtual currency business in the country, with that it has also destabilized the entire crypto market of the world.
Although this fluctuating nature of cryptocurrency is turning people’s heads more towards into them but with industry giants like Tesla giving up and refraining from considering crypto coins as a method of payment is straining the virtual currencies presence in the market.
Not to forget China’s ban on crypto is questioning the digital currencies’ entire authenticity because of that people are now being skeptical over-investing in them.
FAQ
What is cryptocurrency?
Cryptocurrency is a digital currency that is decentralized in nature.
Is Cryptocurrency Banned In China?
China’s Central Bank termed all virtual currency transactions illegal, which is done by cryptocurrency from 24th September 2021.
What is the reason for Cryptocurrency crash?
Cryptocurrency crashed in may because Elon Musk denied purchase of tesla using bitcoins and later China banned all the cryptocurrency transactions.
Cryptocurrency is a digital or virtual form of currency that is secured through cryptography. Cryptocurrencies are not issued or regulated by any central authority or bank, hence making them immune to any international interference or manipulation. They are distributed over a wide network of computers and are regulated through Blockchains for record-keeping, tracking and maintaining their integrity.
In other words, Cryptocurrency is a more secure method of making online payments through denominations in the form of virtual tokens. They are encrypted with various algorithms including elliptical curve encryption and public-private key pairs with various functions and specifications. With the success of Bitcoin, one of the most popular cryptocurrencies today, many new cryptocurrencies have emerged including Litecoin, Peercoin and Namecoin.
What is Blockchain?
A Blockchain holds the information of cryptocurrency transactions, and updates it regularly over 100 times a day, to keep the record fresh. Blockchain holds information in groups with limited storage capacities, and once these blocks are filled, they are attached to the previously existing chain of blocks, making it a Blockchain. Therefore, when a block is filled, it becomes part of a timeline with a timestamp and added to a chain of decentralized nature.
In terms of security, a blockchain is extremely secure. Each block in the chain has a position referred to as its ‘height’, and once a block is assigned a particular height, the records become extremely difficult to alter.
Since each block has a hash, the hash of the block preceding it, and a timestamp, altering a single copy of blockchain does no good. Moreover, it would take alteration of more than half of the Blockchain copies to steal any Bitcoins, which again cannot go unnoticed, making Cryptocurrencies extremely secure.
What is a Blockchain Website?
A Blockchain website helps you store, trade, and buy cryptocurrencies such as Bitcoin and Peercoin. You can monitor your current repository, cryptocurrency worth, and other real-time information with the help of a blockchain website. Some of the most popular Blockchain websites include blockchain.com, which currently stores the information of 65 million wallets, and has facilitated transactions worth $620 billion as of now.
Although building a Blockchain website or an application is far from a trivial task, and a piece of extensive programming knowledge and skills would be a prerequisite, there are some platforms where you can build such websites without having to code.
These platforms offer users an easy-to-use interface, preferably drag and drop, to add sections and segments of the website, and add all the functionalities to build and manage decentralized currencies and projects.
Top No Code Blockchain website builders
1. Abriged
Abriged Website
Abridged is a platform to build decentralized projects with efficient teamwork and collaboration, and that too without coding. It is an efficient and user-friendly blockchain application development platform, that facilitates the use of blockchain and crypto. Teams and organizations can even create advanced applications using Abridged, using its SDK. Abridged focuses on a design called Incremental Decentralization, meaning more centred on custodial fund ownership.
Features Offered by Abridged
One of the best features of Abridged is that it does not require the user to have any coding skills, and the application can be built by a simple drag and drop interface.
The websites and applications built by Abridged are mobile-friendly, thus enabling users to operate the website or application even on their mobile phones.
Features and applications of Abridged can be used by any number of communities, individuals, and groups without any code.
The transactions of users using applications built by Abridged are seamless and fast, without having to face network delays.
Abridged applications can also be used to integrate with third-party applications and APIs.
2. OpenST
OpenST is a platform, that helps make cryptocurrency and the concept of Blockchain. The concept of decentralization is the basis of cryptocurrencies and their security and forms the fundamentals of Blockchain. Simply put, if you have the key, you own the data. OpenST hence works on Utility Tokens, Wallet Recovery, OST chain and OpenST platform. It uses the GitHub platform to make any changes to the existing code on any one of these platforms.
Conclusion
Cryptocurrency and Blockchain technology, however complicated, seems to be moving ahead with pace and is a promising one at that. Its secure nature and the fact that it isn’t influenced by government policies have the ability to make it big in the future of trade and commercial transactions. Also, having a firm grip on Blockchain technology may prove to be useful, and although the conventional method requires the users to know to code, the no-code platforms mentioned above are equally plausible.
FAQs
What is no-code web development?
No-code development is a type of web development that allows non-programmers and programmers to create software using a graphical user interface, instead of writing code.
How do you create a no-code platform?
To build features in a no–code platform, all you have to do is – drag, drop, and assemble, as everything has already been developed or visually modelled.
Is WordPress no-code?
Not necessarily. In other words, building a WordPress site is mostly a code-free experience. However, if any changes are made to the structure, styling, or even padding on a template, coding will be required.
Are no-code apps good?
Yes, no-code apps are good, as it is easy to use and allows non-programmers to pump out apps or workflows quickly.
What is a zero-code?
Zero code is a tool that allows you to build software, web applications, smartphone apps, and more without having to know how to code. All you have to do is – drag, drop, and assemble, as everything has already been developed or visually modelled.
Harshit Verma
