- What Is CoinDCX?
- How Does CoinDCX Work?
- How Safe Is CoinDCX?
- CoinDCX Regulation
- Products Offered
- Pros and Cons
- Account Registration Process
- Buy and Sell Cryptocurrencies on CoinDCX
- Accepted Payment Methods
- Supported Currencies and Countries
- How Is CoinDCX Different From Others?
- CoinDCX API
- CoinDCX Go App
- Customer Support
With more and more people getting into the domain of cryptocurrency trading, it is very likely that one might have come across the name, CoinDCX. It is a relatively new cryptocurrency exchange that came into existence in the year 2018 and is based out of Singapore.
However, the India office of the best crypto exchange is based in Mumbai. In this review, we will be focusing on the pros and cons of the crypto trading platform along with its features and other relevant information. With the help of this CoinDCX review, one will be able to understand the trading platform better and thus decide whether or not to invest in it based on their requirements and preferences.
|Supported Fiat Currencies||INR|
|Supported Countries||India and Singapore|
|Minimum Deposit||10 INR|
|Transaction Fees||Depends on Club Level and Volume|
|Withdrawal Fees||Depends on Currency|
|Customer Support||Email, FAQs, & Submit a Ticket|
What Is CoinDCX?
It is a relatively new cryptocurrency trading platform that offers more than two hundred cryptocurrencies. Its unique feature is that it supports a wide range of cryptos, including Ethereum, Bitcoin, and a variety of other altcoins. It suggests that multiple cryptocurrency traders will be able to use the site without going elsewhere.
This, however, comes with a major disadvantage. There may be more scam coins, given the fact that a freshly released altcoin will not be subjected to the same examination. Bain Capital Ventures, Polychain, and 100x Ventures are among its current top investors. Aside from these three major investors, it has 10 investors who have together invested $ 5.5 million in three rounds.
How Does CoinDCX Work?
CoinDCX trading is simple and straightforward. This simple interface makes it unique among major exchanges like Binance.To start CoinDCX trading, one has to sign up for the account by providing certain relevant details. Once the provided details are verified and one has successfully signed up, they will be able to start trading cryptos on the site.
Is CoinDCX Safe?
Interested people have recently been attempting to determine whether or not CoinDCX trading is safe. This is because they are unwilling to invest in cryptocurrency exchanges that are deemed unsafe. CoinDCX apps have been recognized as safe for using programs by many trading platform comparison sites. This implies that any transaction taking place or money invested on this site will not be a fraud or readily hacked. This makes for a unique selling point among other exchanges like Binance.
CEO Sumit Gupta is a co-founder of the Indian crypto dealing and trading company. CoinDCX Pro and CoinDCX Go are two of the organization’s applications. With 500k downloads, CoinDCX Go is an application for investing in cryptocurrency, while CoinDCX Pro (which has almost 100k downloads) works as an application to exchange various cryptos.
Most exchanges today ask for KYC verification. It is mandatory to complete their KYC to use the applications and that only emphasizes its safety quotient.
It has a number of features that are especially beneficial for the interested trader. In this review, let us look at some of the top features of this cryptocurrency website:-
- It is one of the safest platforms to trade cryptocurrency as the site takes the security of its users very seriously.
- The site has an incredibly efficient team of customer care executives who remain available on a 24*7 basis to ensure that the customers on the site have a seamless experience.
- There are more than two hundred types of cryptocurrencies to choose from on the site.
- The fees that the exchange charges for CoinDCX withdrawal and trading are quite low in comparison to other sites and that works as a great feature to draw consumers. Low trading fees always attract investors. The authorities have kept this in mind while deciding the trading fees structure.
- There are two mobile applications that allow one to trade at their convenience without having to visit the website all the time. All these features make it a popular name among other cryptocurrency exchanges.
Since its inception in 2018, it has been a regulated crypto trading exchange and abides by all the necessary rules to keep trading on this site safe and secure.
It offers its customers a bunch of cryptocurrency products all in one place. The site offers separate applications for exchanging and investing in cryptocurrencies and these applications come with their own set of crypto-related products that help the one immensely.
CoinDCX Review: Pros and Cons
|There are a huge number of coins to choose from.||The only INR here is FIAT currency and no other currencies are available on the site.|
|Exchange charges for trading and the minimum amount required to trade on the site are low.||Customers would need verification to get higher FIAT values.|
|The site offers a great deal of liquidity across different trading pairs.|
|One can sell or buy with a single tap only with the help of the applications.|
|Payment methods like IMPS and UPI are accepted on the site.|
|The site offers a trading margin that is almost six times the leverage on different assets.|
|Futures trading happens to be almost twenty times the leverage amount.|
|There are live and continuous customers available on the site who help others with their queries.|
|The trading site is available for different platforms.|
CoinDCX Registration Process
It has an easy and straightforward registration process. The step-by-step registration is provided below in this CoinDCX review:-
Visiting the Website
As the first step of the registration process, one has to visit its official website. There, on the top right-hand side corner, one can see the ‘register’ button which they have to click on to start the process of signing up.
Filling in the Details
As the next step, users have to fill up some basic details like name along with phone number, email id, and some other basic details. Once that is done, one will have to click on the ‘Sign-Up button.
Verify Phone Number and Email
In order to verify a phone number, users will receive an OTP on their phone, which they have to enter on the site. To verify their mail id users have to click on the verification link that will be sent to their mailbox by the website.
Verify Bank Account
The next step is verifying the bank account. To do that, users have to go to their profile and click on the button that says ‘Verify Bank Account’. They will be redirected to a new page where they have to fill in the required banking details. To get the provided details verified, users will receive a small amount of deposit and withdrawal in their account. Finally, they need to provide the 12 digit UTR number they would receive after the bank details have been verified.
Buy and Sell Cryptocurrencies on CoinDCX
Traders can use both the website and the mobile app to sell and buy cryptocurrencies on the platform. They just need to create an account on these mediums to get started. It is very easy to use it. If one has minimum knowledge of how mobile phones work, they can easily trade through this exchange.
Users have to pay a fee called the trading fee whenever they order for an exchange. Investors are usually drawn by low trading fees. The charge for takers is 0.04% and the charge for makers is 0.06%. For withdrawal, CoinDCX cryptocurrency Fees are 0.001 BTC per BTC. Click here for more information about its fee structure.
Accepted Payment Methods
The accepted payment method is usually e-Transfer or Bank Draft, whichever is convenient for specific investors.
Supported Currencies and Countries
CoinDCX Reviews say that it accepts Bitcoins, Ethereum, and 200 other varieties of altcoins. It only accepts INR as far as FIAT currencies are concerned. It is operational in India and Singapore.
How Is CoinDCX Different From Others?
It does not charge deposit or withdrawal fees if users only deal in INR. It can be a good option if users want to deposit and trade INR. It supports as many as 200 altcoins for trading.
Investors can go to their profile and click on the Access API Dashboard to get the API key button. The terminologies which are extensively used on the website or related documentation, have relevant simplified meanings in the API.
CoinDCX Go App
CoinDCX Go is the CoinDCX App, where one can trade just with a single tap on their mobile screen. After installing the application, users have to fill in the details to create an account. Then they have to log in and start trading. It is only supported by Android but not iOS. This is a significant drawback.
This CoinDCX Review assures users that this is one of the most secured trading platforms in the world. This crypto exchanges in India does not share the customer’s KYC with third parties. It has a two-step authentication procedure that adds to its security protocol.
As per the CoinDCX Review, The platform has a unique customer support unit that works 24X7. If users face any trouble, they can get expert help on INR management, onboarding, ticketing, and many other things. Customers can directly chat with their executives regarding any trade-related queries between 6 a.m. and 11 p.m.
CoinDCX Review: Conclusion
Based on what has been said in this CoinDCX Review, the customers can decide whether to invest their money and time, and effort in or not. They can compare this platform with other similar ones in the market and then come to a decision.
The customers should ensure that they have a clear understanding of how this platform works and whether it would sustain their requirements or not and only then proceed to invest here.
Is CoinDCX Legal?
According to the data available, the CoinDCX Legit team assures their business is a legal one. However, there are users who have complaints about their credit getting rejected.
Is CoinDCX Trusted?
It is totally safe. The customers can trust the platform as it guarantees that every exchange is backed up and there will be no issue. However, there have been complaints about their interface not being secure. Overall, it has excellent security features which crypto traders can trust.
How Do I Withdraw Money From CoinDCX?
CoinDCX withdrawal is pretty simple. Users have to go to the CoinDCX account and select Funds. Then have to click on the CoinDCX Wallet and enter the exact amount that they are willing to withdraw. Now, they just need to complete the verification and withdraw the money. Thus, CoinDCX Withdrawal is hassle-free.
Is CoinDCX an Indian Company?
Yes, it is an India-based enterprise. The India office is in Mumbai. However, it has a Singapore franchise as well.
Can We Deposit INR in CoinDCX?
Yes, the only FIAT currency that one can deposit on this exchange is INR. But for altcoins, it has as many as two hundred options for deposit and trade.