About the CEO: Mr. Sumit Gupta earned a bachelor’s degree from the Indian Institute of Technology in Bombay. At the age of 19, he founded his first company. After completing his undergraduate and graduate studies at IIT-Bombay, Sumit joined a multinational firm in Tokyo. Within a year, he created India’s first location-based online marketplace, which blossomed into a multimillion-dollar startup enterprise.

Sumit Gupta co-founded CoinDCX at the beginning of 2018 after realizing that the cryptocurrency ecosystem in India lacked information and awareness. To effectively trade bitcoins, users were forced to navigate a complex environment resembling a labyrinth properly.

Cryptocurrencies are an excellent place to explore if you want to build a fortune and require a reliable investment strategy. The previous year was highly tumultuous, and many nations created billions of dollars in reaction to the fact that people started to see Bitcoin as a suitable form of asset storage. Numerous individuals and organizations, like Tesla and PayPal, have recently begun investing their cash reserves in bitcoin. Blockchain is the enabling technology if there is a way to exchange or transfer this value via the internet. Because the whole ledger is public and the system is designed to make this happen, you may have more confidence in it without placing your trust in a single company. Considering the 2008 financial crisis, you will realize that if a bank fails tomorrow without your involvement, it will still be your obligation to cope with the repercussions.

That is where everything started. Certain banks’ irresponsible lending practices contributed to the worldwide economic recession, which was undesirable and should not have occurred. A pseudonymous persona was, after that, nicknamed Bitcoin.

For example, if you want to transfer money from India to Bangladesh, you must first transit through many cities. However, with the advent of blockchain technology, it is now feasible to circumvent all of these intermediary layers and take a direct path from person A in India to person B in Bangladesh.

Many different intermediaries and thousands of people are facilitating the transactions in bank branches. This causes the transaction to take a considerable amount of time and cost a significant amount of money. Due to blockchain technology, these tasks may now be completed instantly and at almost no cost.

You may have read that He feels there is space for expansion in India, and you may have discovered this information on Twitter.

Very excited to introduce Okto – our first step in the DeFi space – making it accessible to the masses across India and over the world. 🐙

Join the waitlist to try the product – https://t.co/xPKl4Y1xpI#DeFi #Web3 #CoinDCX https://t.co/nOmxZjovCT

— Sumit Gupta (CoinDCX) (@smtgpt) August 26, 2022

Also read: Can Blockchain make smart cities ‘really’ smart in India?

One thousand rupees in 2010 is comparable to more than 500 billion rupees. India needs Financial education when it comes to investing in mutual funds and the stock market; nevertheless, this is a novel notion; if I were to deliver primary education, I would show them what the rest of the world is doing in terms of history.

Many things that every other country is learning. Bitcoin is a valuable asset for improving portfolio diversification. Thus everyone should have some. This is the fundamental reason why everyone should incorporate Bitcoin in their portfolio. Bitcoin is not designed for use as a legal tender in any country since it is not government-issued money like the Indian rupee, an example of a legal tender. Bitcoin is more analogous to a class of assets held and invested in for the long term. There is an opportunity for Indians to acquire Bitcoins, and our GDP will increase if it becomes a popular asset class in India. This opportunity exists in India. The Scandinavian countries are undoubtedly the most advanced in terms of capitalism, and their citizens enjoy an excellent work-life balance. This is because individuals in Scandinavian nations want a perfect work-life balance.