CoinSwitch is a popular cryptocurrency platform in India, trusted by millions to buy, sell and manage over 200 cryptocurrencies.
Using it is easy to use for both beginners and experienced traders. As an aggregator, it gives access to multiple exchanges for the best rates. For advanced traders, CoinSwitch Pro offers real-time data, charting tools and more detailed trading options for greater control.
In this article, we will explore its fees, as well as the advantages and disadvantages of CoinSwitch.
CoinSwitch review
What is CoinSwitch? CoinSwitch, launched in 2017, is one of India’s largest crypto platforms, serving over 20 million users and supporting transactions in 160 countries. It allows easy trading of cryptocurrencies like Bitcoin, Ethereum, and Litecoin while comparing real-time prices from multiple exchanges.
Traders have exchanged over ₹50,000 crore on the platform, with more than 200 coins available for trading. The platform is regulated by the Financial Intelligence Unit-India (FIU-IND) and follows KYC, AML and CFT rules to stop illegal activities.
CoinSwitch focuses on keeping user information safe by using encryption. It has support from well-known investors like A16z and Tiger Global.
Is CoinSwitch legit?
Yes, CoinSwitch is legit. It is FIU registered, which means it follows anti-money laundering rules. It also has ISO/IEC 27001:2022 certification for data security and SOC 2 Type II certification for safe asset custody.
How to open a CoinSwitch account
- Visit the CoinSwitch website or download the CoinSwitch app from your mobile app store.
- Look for the “Sign Up” button on the homepage and click on it.
- Enter your email address and mobile number, then create a strong password. CoinSwitch will send an OTP (One-Time Password) to your mobile for verification.
- Provide required documents, like a passport or Aadhaar card, for KYC (Know Your Customer) verification.
- Once your account is verified, you can deposit money into your CoinSwitch account and start buying and selling cryptocurrencies.
Features of CoinSwitch
CoinSwitch offers a variety of features to trade efficiently are
CoinSwitch Pro
A trading platform for advanced users.
Features
- Advanced charts: Use Trading View charts to study price movements and trends.
- Limit orders: Set a price at which you want to buy or sell, and the order executes when it reaches that price.
- Multi-exchange access: Trade across several crypto exchanges from one place.
- Unified portfolio: Manage all your crypto in one account.
- KYC compliance: Complete KYC once to trade on all exchanges.
- How to use: Log in, select a cryptocurrency, view charts, and place your buy/sell orders.
Systematic Investment Plan (SIP)
- Invest a fixed amount in crypto every month.
- Start with as little as ₹100 and automate monthly investments to navigate market ups and downs.
Smart Invest
- Beginner-friendly strategies to help you grow your profits.
- Choose from a range of options and invest without needing prior experience.
Coin Switch for HNIs & Institutional Investors
Tailored for high net-worth individuals and institutions like banks.
Offers
- Low Fees and Top Performance.
- 24/7 Support with a dedicated manager.
- Self-custody solutions for secure trading.
- Early Access to new products.
Crypto futures trading
- Bet on the future price of cryptocurrencies.
- You can go long (buy) if you expect the price to go up, or short (sell) if you expect it to go down.
- Features include leverage (borrowing money to increase profits but with more risk) and perpetual contracts (holding your position as long as you want).
Coin Switch Pro API trading
- Automate your trades with API, so you can trade 24/7 without manually entering orders.
- Includes zero fees for 30 days, expert strategies, and priority support.
Crypto trading platform
You can trade crypto on CoinSwitch Kuber for beginners or CoinSwitch Pro for advanced traders. Download the app from the Google Play Store or Apple App Store and start trading with just ₹100!
CoinSwitch fees and commission
Here are the CoinSwitch commission and fees are
Coin switch exchange
- Taker and maker fee: 0.024% and 0.065%
Coin switch pro for trading BTC and ETH future contracts
- Maker and taker fee: 0.02% and 0.05%
- Referral commission: 20% commission
Coin switch fixed deposit
- Guaranteed returns: Earn interest rates up to 8.35% per year.
- Senior citizen bonus: Enjoy an additional interest rate of up to 0.25% if you are 60 or older.
- Fixed deposit: There are no fees associated with starting a fixed deposit.
CoinSwitch withdrawal and deposit methods
- Deposit methods: Common methods include bank transfers or transfers from self-custody wallets or exchange wallets.
- Withdrawal Limits: You can withdraw a minimum of INR 100 and a maximum of INR 2,00,000 per day. This can be done in one or multiple transactions.
- To withdraw your funds from your account, just follow these steps:
- Go to the Portfolio page.
- Click on your account (Total Balance).
- Click on “Withdraw.”
- No Fees: There are no fees for withdrawing INR.
- Linked Account: The money will go to the bank account linked to your CoinSwitch account.
CoinSwitch customer support
CoinSwitch offers multiple ways to reach its customer support team 24/7 through
- Email: support@coinswitch.co
- Support ticket: Raise a ticket directly on their website
Mailing address
Infinity, Electra Block, 1st Floor
Wing A Exora Business Park
Prestige Tech Park II, Bellandur
Bengaluru – 560037, Karnataka, India
CoinSwitch pros and cons
Here are the advantages and disadvantages to consider while trading.
Pros of CoinSwitch
- User-friendly trading platform: CoinSwitch offers a straightforward platform where you can easily buy, sell, and exchange a variety of cryptocurrencies.
- Real-time price comparison: It provides real-time prices and liquidity from multiple crypto exchanges, allowing you to compare rates and pick the best ones for your trades.
- Extensive cryptocurrency selection: CoinSwitch supports many cryptocurrencies, including popular ones like Bitcoin, Ethereum, Ripple, and Litecoin, as well as other altcoins.
- Enhanced security measures: Your safety is important. CoinSwitch protects your funds and uses encryption to keep your personal information and transaction details secure.
- Intuitive user experience: The app is designed to be simple and intuitive, making it suitable for both beginners and experienced crypto traders.
- Referral & earn: You can earn unlimited commissions as your friends trade on CoinSwitch, with a 20% commission on trading fees for every trade they make.
Cons of CoinSwitch
- KYC is mandatory: You have to complete a verification process (KYC) before you can start.
- Supports only INR: You can only use Indian Rupees (INR) for transactions.
- No support for credit/debit cards: You can’t use credit or debit cards for payments.
Conclusion
CoinSwitch is legal and operates under the regulation of the Financial Intelligence Unit-India (FIU-IND), following KYC, AML, and CFT rules. It’s also ISO/IEC 27001:2022 certified for data security, making it a reliable platform for cryptocurrency trading.
The platform is highly user-friendly, offering an intuitive interface suitable for both beginners and experienced traders. Features like real-time price comparisons, SIP investments and CoinSwitch Pro cater to various user needs.
While it supports only INR for transactions and requires KYC, it remains a trustworthy and convenient option for Indian crypto users.
Pro Tip
Start your journey with CoinSwitch today! With an intuitive platform, extensive cryptocurrency options, and top-notch security, it’s perfect for both beginners and seasoned traders. Ready to trade smarter and build trust with our trusted forex brokers check out insights into forex, CFDs, cryptocurrencies, and banking. We’re eager to hear your thoughts—drop your feedback in the comments below!
