Driven by integrity, security, and simplicity, Saravanan Pandian, founder and CEO of Koinbazar, shared in detail the features and long-term plans of India’s simplest and safest cryptocurrency exchange platform.
Q1. Kindly introduce yourself and what you do?
I am Saravanan, the mastermind of Indian crypto exchange Koinbazar. I am a strong believer in the power of crypto as a tool for financial independence. Blockchain technology (decentralization) will definitely be the future — already starting from now.
I ensure that the Koinbazar remains committed to our mission of granting first-class user-friendly trading experience for rookies and expert traders, helping them gain optimal growth in the crypto world with the best returns.
Q2. What is the motivation for establishing Koinbazar?
Our main goal is to empower the people with crypto, making Koinbazar India’s leading cryptocurrency exchange. We keep our users informed about our advancements and maintain transparency. We envision having a customer-centric crypto exchange platform that can provide the capital opportunities needed to run a decentralized crypto-based economy. We want everyone to be at ease with their cryptocurrency assets through Koinbazar’s quality, security, and equality at the core.
Q3. What are the unique features of Koinbazar? What sets Koinbazar apart from other exchanges in the crypto space?
If you are a beginner, without any trading experience, Koinbazar is the best option for you as our user-friendly intuitive trade panel has live market trends and a clear order book that can help you trade like a pro with profitable decisions.
Before I zoom in to the features, at Koinbazar, we overcome three main challenges in the crypto industry: complexity, liquidity, and security. Thus what truly sets us apart is our ability to assure the safety and security of our users’ data and funds as the system is integrated with multiple security protocols. Well-timed order execution from an efficient auto-matching engine in a highly liquid market is one of the major advantages of being a Koinbazar user. Trading directly with Indian rupees promotes more liquidity in the market and makes the process more simpler and productive.
Moreover, through Koinbazar’s own CryptoWallet, you can secure your assets and trade with 100% confidence and comfort. No matter where you are, you can deposit funds to your wallet, trade on the go, and send or receive funds to peers in a matter of seconds.
In terms of security, Koinbazar has an active bug bounty community that enforces concrete security and prevents malware and vulnerabilities. Frequent simulated and manual penetration testing measures are also done on a regular basis to securely stabilize the platform. Shielding every Koinbazar user’s account as well are two-step verification, SSL encryption, and anti-phishing code, among other safety standards.
Q4. What are the long-term plans for Koinbazar?
To keep Koinbazar’s platform up and running in the long run, we aim to maximize the potential of our own digital asset, Koin Bazar Coin (KBC). Abundant KBC coins are planned to be distributed in the form of rewards to bounty hunters, active traders, VIP investors and traders, and engaging social community members.
One of the token earning strategies we implement is more trade = more free KBC coins = more free money. For every $1 transaction fee incurred on the platform, Koinbazar instantly deposits 1 KBC to the trader’s wallet. These coins can then be stored to enjoy premium privileges in the platform and other services.
Later on, our team will launch the Koinbazar application (compatible with Apple and Android) for a seamless and portable trading experience. Automated market making (AMM) and decentralized finance (DeFi) would also be explored in the platform as we progress.
Q5. Tell us about the leadership team. Who are the people behind the project?
Koinbazar’s core team, including myself, are blockchain entrepreneurs with more than ten years of crypto industry experience. Hence, the entire system is technically-designed to offer a safe and efficient global trading platform.
Q6. What are your thoughts on crypto regulations in India?
It has been quite a tricky journey when we look at the regulatory policies concerning cryptocurrency in India. Despite that, I stand with my opinion that a total cryptocurrency ban would not happen in the country. Instead, proper regulations for crypto assets should be implemented — for the benefit of the users, platform owners, investors, and the economy at large.