What was changed
When CoinSwitch launched in mid-2020, Indian users had to navigate on-ramping, currency conversion, swapping, and crypto storage. Ashish Singhal said the company had to make those steps simple in rupees.
The turning-point choice was to invest in user outreach and a 24/7 live chat that answered crypto questions even when no immediate sale followed. That support channel treated education and reassurance as part of distribution, not overhead.
The approach gave CoinSwitch a trust-based relationship with users. By April 2024, Singhal said the app had gathered more than 20 million users; feedback from users then helped the company launch CoinSwitch PRO in November 2022 for more advanced trading.
What it achieved
CoinSwitch reported over 20 million users by 2024 and extended its simple INR trading offer into CoinSwitch PRO for more sophisticated traders.
Why it worked
Crypto transactions carry unfamiliar technical and financial risks, so trust was a prerequisite for adoption.
A 24/7 live chat let CoinSwitch answer doubts at the moment users were deciding whether to try crypto.
The same user feedback loop exposed a path from beginner trading to more sophisticated tools.
What can be applied
In a trust-sensitive market, make questions part of the product: patient, always-on support can lower the barrier to first use and reveal the next segment to serve.
Aftermath
CoinSwitch expanded from a simple INR-based trading experience to CoinSwitch PRO, which offered API trading, bespoke strategies, automated execution, and access to multiple exchanges through one account. Singhal also became group CEO of parent PeepalCo.
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