The Proof Of Reserves Of CoinDCX After CoinSwitch

Posted by Somendra Kumar on January 3rd, 2023

Local cryptocurrency exchange CoinDCX is the most recent web3 company in the nation to reveal its proof of reserves in an effort to reassure its consumers that their investments are secure. The exchange's holdings have been made public on the Singapore-based blockchain analytics platform Nansen, which shows total assets valued at 9.7 million as of 24th November. The action was taken one week after CoinSwitch, a different locally-based cryptocurrency exchange, announced on November 17 that an impartial third assessment of its financial reserves had been completed. Find the CoinDCX vs CoinDCX Pro comparison from Cryptoknowmics. Also, know all about the Proof of Reserves of CoinDCX.

The Results Of The Move

From Cryptoknowmics, know about CoinDCX vs WazirX comparison and others. The exchange's move follows a turbulent month for cryptocurrency exchanges worldwide, during which one of the most well-known global exchanges, FTX, went bankrupt after information about the company and its founder, Sam Bankman-Fried, utilizing investor money for projects unrelated to the exchange or its users surfaced. Widespread investor withdrawal from the global cryptocurrency market following the FTX meltdown crippled the already unstable crypto economy. Still, there are hopes. You can choose a crypto exchange platform like CoinDCX and WazirX for trading in India.