In 2017, a group of hackers in India figured out a way to get the best prices on cryptocurrencies at any point in time by aggregating data from all the crypto exchanges. That was the origin of CoinSwitch, a startup with a mission to ‘make money equal for all’. The platform gained traction, went through a few pivots and soon became one of India’s largest cryptocurrency trading apps. On this episode of Moonshot, we chat with CoinSwitch co-founder and CEO Ashish Singhal and Sequoia India Managing Director Shailesh Lakhani about how the startup is taking crypto to the masses by differentiating itself from its competitors, educating users, and tracking user gains to improve their product.
Show Notes:
- Start by solving a problem that you’ve encountered (1:36)
- If mom can use it: The CoinSwitch differentiator [06:03]
- Build user confidence: Educate them on how to use your product (9:10)
- Go-to-Market strategy: Web3 vs Web2 (12:11)
- Bear markets make you work harder for your users (14:52)
- Track user gains to improve your product (17:23)
- Be frugal, be focused (20:08)
- Know that there’s a right time for your idea (23:05)
- Give yourself two chances at success (28:15)