1. Describe about your Business and founders
We provide our customers with crypto solutions to get everything from their ecosystem. With spot, margin, futures, and fiat-to-crypto trades, Triunits is an all-inclusive cryptocurrency ecosystem that offers a professional trading experience to all types of traders. No more switching to different platforms as everything you need is right here. Founder of Triunits is Mr. Subhrajit Das.
2. What is the biggest challenge of being a CEO and how do you overcome it?
In 2016 when I, Subhrajit Das first learnt about cryptocurrency, I started trading on Zebpay with a small amount of Rs.10,000. On my first trade, I lost Rs.4,000 and didn't understand how. Then I started learning to trade meticulously on a regular basis as I questioned myself why I lose and how to make a profit. I slept every night staring at my phone, looking endlessly at the trading charts trying to decipher this game, and got a few nosebleeds because of the phone crashing onto my nose as I mostly slept with my phone in my hands. Like this, I learnt trading for about a month. During that time there were no peers around me who knew about trading in cryptocurrency. Slowly I started to make a profit and using 1 lakh Rs I made 63 BTC. But with gains, also came droughts, one night I made a profit of Rs. 42 lakhs, followed by a loss of Rs.37 lakhs. One of my friends was sitting beside me that night and he puked seeing the loss. But I still didn't lose my hope and kept on trading. One day my friend and I thought in trading loss and profit both happen, but the exchange facilitating this service keeps on earning fees no matter what its client is profiting. All that matters for the exchange is the number of customers trading on its platform. At that time, I had an IT business. Using the profit from that business I started to develop our exchange with my friend. We decided to split our share 50/50 with my friend. But as he could only pay Rs.10,000 so we decided that he will get a 25% share and he has to pay nothing. After 8 months of development, the first exchange got ready. The day our PHP coded exchange got launched, hackers got better of our platform as they exploited security issues. Soon we had to suspend our exchange platform. At that point, I have lost most of my money. But I still didn't lose my hope and planned to develop our new exchange in a more technically secured environment using advanced technologies. We hired better developers (python developers) who fixed the security issue as well as fully remodelled our project. This gave us good results for about 8 months but then we faced a major setback because of an internal split between our developers and one of our shareholders. This resulted in the complete shutdown of our website, our developers even stole our data leaving us with nothing. I wasn't able to look into this matter because I was mostly into the marketing aspect of the company. In spite of all this, no customer in Triunits Exchange suffered a loss, because only I had the access to the funds. This is one of the major reasons why the customers in Triunits exchange still have faith in us and we have quite an old customer base that is still growing. But again this was not enough to stop me from pursuing my goal as I started from scratch again. Many people helped me during this process one of the people who stand out in this phase has to be Mrs Renchilo Ngullie who helped me both mentally and financially, also our company partners Rupam Pal and Sonali das helped me immensely in the same aforementioned aspects. Then I hired Saswata Patra after 8 months since the bifurcation of the company, who is currently the CTO of the company who in turn along with his friend Aniket Sarkar who is currently the CMO worked for about a year in the name of unpaid internships and earned our trust. After this, we hired Romit Karmakar, one of the best developers in NIT Durgapur from an online platform who contributed tremendously as well and made our website more reliable than ever, he is currently the COO of the company.
Romit, seeing our company's prospects, hired two more students from NIT Durgapur - Rishav and Ramiz who contributed to the blockchain development sector. After them, a lot of employees have been hired who have worked on an internship basis.
Using this talented group of people we finally launched our exchange on the 18th of June 2020, Today we have a healthy customer base of about 70,000 active customers. We have come a long way since then and would like to expand even further. However we have come this far because of all these people and all I have is heartfelt gratitude. All the people mentioned in this article are company shareholders today.
3. Where do you see the company in the next five years and how will you bring about the change?
Without any kind of major funding, we already have a healthy customer base and we are sure if we are provided with sufficient funds, we will further increase our company standards both technically and marketing-wise. We are aiming to be the number one exchange in India in the next five years, it is a big thing to say but we believe in realistic approaches not idealistic. We have the potential to become the unicorn of this sector.
4. Did you ever feel like giving up on being a CEO and what motivated you to pull this off?
After the bifurcation of the company, I was demotivated the most but never did I thought about giving up. The people around me especially Mrs Renchilo Ngullie and my zeal helped me to pull this off.
5. Describe your biggest achievement
After the launch in 2020, starting from scratch we have a customer base of over 70 thousand. I think this entire build-up process to what it is now is the biggest achievement. As famous people have said, a journey is more important than a goal.
6. From where did you get the idea for a business?
As mentioned above I got this idea after being in the trading sector and suffering losses.
7. What was your aim to start the company?
Seeing this field of cryptocurrency being one of the future technological aspects. In short, to bring a revolution, I decided to take a leap into this road not taken.
8. Tell us some of your failures
The previous IT company where I worked as a proprietor was going well in financial terms but I had much bigger goals so I consider that as a failure. The first two attempts of building the exchange platform were big failures indeed.
9. What is the role of your family in your successful career?
Unfortunately, I didn't receive much support from my family, it was a solo journey from that aspect.
10. What is your message to the young generations and to their parents?
Do not stray away from your goal, no matter how many setbacks you face. Because dreams are seen by everybody but goals are achieved by only a few.
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