Crypto is going through an exciting phase in India today. Although still a rollercoaster ride, the rising number of crypto and blockchain startups in the country are making regulators and consumers think about it as a potential sector. Leveraging on the trend, the Bengaluru-based social networking and video discussion platform as the forum is continuously seeing a surge in cryptocurrency-related discussions.
An Indian alternative to New York-based live discussion platform Clubhouse, Leher offers people with similar interests to come together, discuss ideas, learn, network, and build relationships. “Although a lucrative option, the majority of the Indian audience is still naive when it comes to knowledge and awareness around crypto investments. These discussions on the Leher app are helping people to seek better understanding with experts,” says Vikas Malpani-Co-Founder & CEO, Leher app. The discussions on the platform are usually around how to invest in crypto, crypto regulations in India, the future of crypto investments, blockchain technology, and more.
Available on both Android and iOS, the platform has a current user base of 2.50 lakh, doubling on a month-on-month basis. Users are spending between 15 minutes to two hours on the app. On Google Play, the app has a 4.3 stars rating out of 5. One can start using the app by signing up with their Facebook account, Gmail account, or by providing their phone number. After signing up, the user has to give a username and his/her full name.
The app then redirects users to a screen, which has a plethora of interest areas, and users can select the categories of their interest. Similar to social media, the users can follow each other and send direct messages to each other. “Unlike Clubhouse, the app can be used by anyone, and users only need an invite for private clubs. We are also working on multiple monetization models that will allow content creators and curators to monetize their audience and work with brands,” Vikas adds.
The Supreme Court lifted the RBI banking ban on crypto trading in March 2020 stressing upon ‘alternative regulatory measures. Since then, crypto discussions are everywhere. Recently, a Chainalysis report ranked India 11th in the list of global crypto adoption, given its user base of 10 million crypto users trading in volumes reaching up to $350 million on a daily basis.