CoinSwitch Kuber, a platform that enables the customers to sell and purchase Bitcoin and other cryptocurrencies, is now out to familiarize Indians with their new dimension of fintech by launching India’s major new ad campaign. This campaign is a debut one and it is also the first for the industry.
Bitcoin, a 7-letter word often triggers a lot of emotions including curiosity, confusion and fear. But in simple words, cryptocurrency is a virtual digital asset that cannot be copied or duplicated. Currently, there are a lot of such available in the market, the most famous and commonly used one is bitcoin, which shares its space with Ethereum, Dogecoin, Ripple’s XRP are among them. There is always a huge demand for this in the market this is mainly due to its scarcity and limited number.
Nowadays it’s gradually evolving as a global medium, as companies started to invest in it and they have also started to accept it as a mode of payment. This year in February, Elon Musk announced that EY companies would also start accepting bitcoin as a mode of payment, transaction. Tesla’s, this move played a great role in bringing a huge leap for mainstreaming cryptocurrency as a global transaction mode.
Unlike other platforms like CoinDCX, WazirX, etc., CoinSwitch Kuber isn’t meant as an exchange instead it helps us to aggregate liquidity from India and other global crypto exchanges across the world for the users to buy and sell in Rupees. It shows a combined version of all available rates for the users and helps them by identifying itself as a managed custodian platform and takes care of all the investors’ fund.
Around 2017, the cryptocurrency created a wave in the fintech ecosystem, this was made possible with the cryptocurrency agencies like Koinex, Zebpay etc. But in 2018, this came to an end when the Reserve Bank of India (RBI), prohibited the usage of virtual currency in India leaving the users disappointed. Core reasons behind this prohibition include the concerns of consumer protection, market integrity and money laundering. Then in March 2020, the industry saw a rapid come back when the Supreme Court of India lifted the ban with a hope of more balanced regulation.
CoinSwitch Kuber’s latest ad campaign “Trade Kar, Befikar” mainly aims to get rid of the fear and tension towards investing in cryptocurrency. The campaign was created by Nihilent, in the name of KV ‘Pops’ Sridhar, which includes three film ads, each of which concentrates on a specific topic. The first one shows one doesn’t need to buy an entire unit of Bitcoin instead can buy a fraction even with Rs.100. The second one highlights the easy liquidation process and the last one focuses on the ease of trading cryptocurrency and using CoinSwitch Kuber.
CoinSwitch was launched in June 2020, claims the title of the biggest platform with investors like Tiger Global, Paradigm, Ribbit Capital, and Sequoia. Caters over 4.5 million Indian investors.