CoinSwitch SmartInvest Service With Investment Strategies for New Crypto Investors Launched

CoinSwitch is looking to onboard more investors via its SmartInvest service.

Written by Radhika Parashar, Edited by David Delima | Updated: 18 November 2024 15:43 IST

CoinSwitch SmartInvest Service With Investment Strategies for New Crypto Investors Launched

Photo Credit: Unsplash/ Art Rachen

CoinSwitch had launched a similar feature for HNIs back in September 2024

Highlights

SmartInvest tab on the app will let users monitor profits and losses
The feature aims to simplify first steps into crypto trading for new inve
India’s crypto ecosystem is expanding, Chainalysis had said in October

CoinSwitch has announced a new initiative to help new crypto investors try their hand at investing in virtual digital assets. The crypto exchange said on Monday that it has rolled out a new service called SmartInvest. Through this feature, the exchange has released a selection of smart investment strategies that early investors can access in order to take their first steps into investing in digital assets. The development comes just days after MeitY Secretary S Krishnan said that the IT ministry is committed to nurturing India's Web3 ecosystem.

The exchange has added a new section to its app interface called CoinSwitch SmartInvest. Users will be able to access investment strategies curated by experienced traders, according to the platform. “Users can evaluate and choose from available strategies based on historical profits, minimum investment requirements, and adoption statistics. Once selected, SmartInvest's algorithms execute trades automatically on behalf of users, with a share of profits allocated to strategy developers,” the company headquartered in Bengaluru explained.

Despite its strict regulatory stance on the crypto sector, India has shown notable growth in crypto adoption. Ast month, aChainalysis report revealed that India ranked first out of 151 nations in-terms of showing fast crypto adoption. This is the second consecutive year that India has topped Chainalysis' index. The country sees crypto assets as financial tools for investment and trading and does not recognise any crypto as a legal tender alongside the rupee.

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CoinSwitch claims that it caters to over two crore customers in India. By offering customised guidance plans, the company is now looking to onboard new users.

Balaji Srihari, the head of business at CoinSwitch also said that over the years, potential investors have spoken about the complexities of crypto trading — especially around how to start — which is one issue this initiative will attempt to address and resolve. “Choosing assets, timing entries and exits, identifying opportunities, all this is challenging for investors. We have recognised that many users lacked the skills or time to create their own strategies. SmartInvest bridges this gap, allowing investors to access expert-driven strategies without needing coding expertise,” he said.

Earlier this year, CoinSwitch launched a service that provides high net worth individuals (HNIs) with personalised investment advice and detailed risk management solutions. At the time, the exchange had claimed that its team of experts will assist institutional investors with tailored investment strategies, dedicated account management, professional tax filing, and exclusive market access.

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Cryptocurrency, CoinSwitch, SmartInvest, India, Crypto Investment

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More