Web3 is being called the next phase of the Internet. It is the internet built on blockchain where cryptocurrencies and NFTs will play an important role. Cryptocurrencies and NFTs will also play an important role in Meta’s dream project Metaverse. So, it is important for people to know about cryptocurrencies and NFTs. There are several guides on the internet, Reddit has dedicated subReddits to have discussions and there are Facebook groups where people can learn and talk about different blockchain technologies. But it needed a dedicated platform where people can learn and discuss crypto, defi, web3, and blockchain. Amit Nayak, Ankush Rajput, and Melbin Thomas understood this problem and they created a social platform called Sahicoin. This is basically a social media platform dedicated to crypto enthusiasts where users learn about crypto, crypto trading, blockchain, and more.
I also joined Sahicoin and found it an interesting app. So, I decided to know more about it. I had a discussion with Amit Nayak, co-founder & CEO where he talked about Sahicoin’s growth, platform, and upcoming features.
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What is the primary purpose of Sahicoin?
With Sahicoin, we intend to democratize crypto information by making it simple, noiseless, and accessible. The global crypto industry is expanding at a rapid pace. With continued advancement and increased participation, we will see exponential growth in the number of crypto users, despite the lows and highs of the market. Keeping in mind the gap between crypto awareness and participation, we have built Sahicoin as the world’s first crypto native social platform that brings together crypto experts and new investors on a single platform to share crypto updates, trends, knowledge, and intelligence investment signals. By making crypto recommendations and investment strategies accessible to our users, we aim to enable both seasoned and new investors to make informed, confident, and responsible investment decisions.
Sahicoin is mainly a community of crypto enthusiasts. Can you share a number to give us an idea of how big the community has grown so far?
We’ve seen rapid 200%+ growth in the last 4 months post-launch of the platform, and have more than 100k users on our platform.
Now when content creators are mainly focusing on video content. Can we expect Sahicoin to introduce a video section?
Yes, we plan to introduce a short video fintalks on Sahicoin very soon.
Are you also planning to add more ways of user communication on the platform? For example, direct messaging.
Definitely. We are making an innovative messaging solution dedicated to crypto users, which solves their current communication challenges and makes it easier to interact faster.
I really liked the concept of Sahifolio. How many Sahicoin users are actually using it?
Sahifolio is the most popular feature on the app as it allows users to mock trade and test their investment strategies, risk-free.
40% of the Sahicoin users are using the feature, with transaction volume growing exponentially.
What are the primary challenges you are facing?
While we’ve been witnessing a significant rise in Sahifolio investments on the platform, around 10k+ users are already demanding and are in early access for real transactions and starting their crypto investment journey via Sahicoin. We have partnered with more than four exchanges to get the ease of transaction from Sahicoin.
Has Crypto Tax affected engagement on the app in any way?
While the announcement of the crypto tax has impacted trade volumes on all major exchanges,
Sahicoin witnessed an increase in engagement. Users started following trusted experts & friends; unlocking top-performing portfolios for investment ideas. As a result, we are experiencing high growth in Sahifolio volumes as users are eager to test their investment ideas that they are getting from their network.
When will you start monetizing the app? I recently noticed the Sahicoin rewards section. Is this the first step to start monetization?
The app is completely free for users and we are currently focussing on user growth. There are established monetization models across transactions to be deployed as we continue our global journey.
Sahicoin app has an integration of different exchanges and wallets. Do you also have a plan to launch your own exchange or wallet in the future?
Our focus is to build a strong social platform with higher network effects. We intend to become a catalyst for the web3 ecosystem and partner with the best exchanges/defis and wallets.
