100 million[1] Indians own crypto, the largest number of crypto owners in the world
Coincover, one of the world’s leading providers of protection for cryptocurrency, today announced that Belfrics India has selected Coincover’s technology to help safeguard its clients’ crypto assets against fraud and theft.
Belfrics is a global blockchain and cryptocurrency exchange firm. Its multi-feature trading platform for digital assets and cryptocurrencies includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Belrium (BEL) among others. Founded in 2014, Belfrics is headquartered in Malaysia and operates in seven countries, including India.
According to recent data by TripleA[2] India now has the largest number of crypto owners in the world with over 100 million owning cryptocurrencies, or 7.3% of the population. Demand continues to grow as more Indians are working for overseas companies and are choosing to be paid in crypto over traditional currencies because of the ease of conducting international transfers and lower transaction fees compared to bank transfers. The total volume of crypto transactions in India has increased by 30% in the last year.
“We are very excited to help Belfrics protect their customers’ crypto investments. Our technology provides peace of mind for investors and regulators alike, and will enable Belfrics to attract new customers to crypto,” said David Janczewski, CEO at Coincover. “Global growth has been phenomenal in the past 18 months and Coincover is helping investors enter this high-growth market by mitigating risk and improving insight.”
“Crypto continues to gain acceptance globally and adoption is accelerating in India. With 1.38 billion people, India holds the potential for significant growth in the next few years,” said Praveen Kumar, founder & CEO at Belfrics Global. “Coincover enables us to better attract potential crypto investors by reducing uncertainty and risk. We believe this reassurance will draw a whole new category of investors to cryptocurrency in India.”
Coincover’s protection technology has an insurance-backed guarantee that safeguards crypto investors against loss or theft. Coincover technology monitors and limits customer transactions to help prevent malicious activity and is backed by insurance from Lloyd’s of London underwriters. For more information, visit www.coincover.com.
[1] C# Corner, October 21, 2021, https://www.c-sharpcorner.com/article/top-10-countries-with-the-most-cryptocurrency-holders/ [2] TripleA, Cryptocurrency Across the World 2021, https://triple-a.io/crypto-ownership/About Coincover
Coincover’s unique technology helps prevent and protect against theft, fraud and loss of crypto assets. Founded in 2018 by experts in government, military systems and law enforcement, we use a combination of biometrics, access control and machine learning to ensure that our customers’ crypto funds are constantly protected. The Coincover solution is backed by exclusive insurance coverage provided by underwriters at Lloyd’s of London to give customers peace of mind. www.coincover.com
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Julia Giona
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