Recent years have witnessed an unprecedented surge in the global crypto market. With more users entering the circuit to trade crypto, choosing the best trading platform becomes challenging. The market is filled with cryptocurrency exchanges offering different services to garner a user base.
CoinSwitch Kuber Summary
|Supported Fiat Currencies
|0% to 0.5%
|Yes, via Mail, FAQs, and Submit Form Support
Even then, ventures like CoinSwitch Kuber stand out among the lot. The Indian cryptocurrency exchange started in 2017 and now boasts over 7.5 million users. It offers 100+ cryptos in a secure and user-friendly manner. India is yet to witness its crypto boom, but it still packs a widespread customer base in the region. One of the platform’s aims is to spread cryptocurrency awareness among the public.
The exchange’s simple registration process and support for payment methods like UPI and fiat currency compatibility are a big reason behind it. Additionally, the platform uses a unique approach to help users find the best trading opportunities. Unlike other platforms, CoinSwitch Kuber connects the users to multiple exchanges to provide the best trade.
Although the exchange houses numerous perks, traders should read a CoinSwitch Kuber review before using it. Below is every information every user should know before trading on CoinSwitch Kuber.
What Is CoinSwitch Kuber?
CoinSwitch Kuber is a popular crypto exchange based in India. It started back in 2017 and now houses over 7.5 million traders. The platform offers 100+ cryptocurrencies with popular names like Bitcoin, Matic, Ethereum, Dogecoin, and more. The exchange is linked to different crypto wallet and exchanges services.
Its simple registration and KYC process allow beginners to get started quickly. Once users have completed the KYC/AML verification, they can get the best crypto exchanges and trading rates. Moreover, due to its no deposit and withdrawal fees policy, many traders even deem it the best trading platform.
How Did CoinSwitch Kuber Begin?
Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni founded CoinSwitch back in 2017. The trio was together for 13 years before starting the exchange. CoinSwitch market introduction became possible after the RBI lifted the ban on cryptocurrencies and other digital assets.
Three years later, CoinSwitch decided to come up with an Indian-exclusive crypto trading platform that supports INR (Indian Rupee). Thus, It entered the Indian crypto sector in June 2020. Now, the platform boasts over 300 million dollars per month in trades.
How Does CoinSwitch Work?
CoinSwitch Kuber functions like a standard crypto exchange in most parts. The platform allows traders to trade digital currencies. It allows users to make deposits through INR (Indian fiat currency), with the minimum amount being Rs. 100.
However, It sets itself apart from the competition with its unique approach. The platform does not generate its liquidity; instead, it connects the traders to different exchanges. It allows them to find ideal exchange rates and opportunities.
CoinSwitch Kuber Features
The primary reason behind users going through CoinSwitch Kuber reviews is to comprehend its features. So here is a quick overview of the feature offered by the exchange:-
Instant Cryptocurrency Trading
The platform allows customers to instantly buy, sell, and trade more than 100 cryptocurrencies in one tap.
Minimal Initial Deposit
The initial deposit amount on the platform is ₹100. Thus, it allows beginners to understand the cryptocurrency market without risking hefty funds.
CoinSwitch Kuber adheres to the zero brokerage policy. Therefore, it helps customers to buy and sell their favorite crypto without hidden charges.
To ensure every customer gets the best rates, it connects them to multiple platforms.
No Lock-In Restrictions
Unlike many best cryptocurrency exchange in India, CoinSwitch Kuber allows traders to withdraw their earnings instantly. In addition, its no lock-in period feature makes the exchange a popular choice among Indian traders.
Simple KYC and AML
CoinSwitch Kuber’s KYC and AML verification is kept simple and quick. As a result, it helps customers experience premium trading features in no time. This verification process makes the exchange secure.
Since the platform is designed for a specific region, it supports multiple payment methods. Users can choose from options like UI, IMPS bank transfers, and NEFT to invest funds.
Quality Customer Service
The CoinSwitch Kuber website provides a live chat option to solve customer queries instantly. Moreover, its simplistic support ticket system resolves customer concerns in no time.
Users can earn 50 Rupees worth of Bitcoin after successfully referring a new customer. To join the referral program, customers must complete the KYC verification.
There is a coupon-based reward system that unlocks after completing milestones. For instance, there is a reward coupon for verifying the account.
CoinSwitch Kuber Review: Pros and Cons
No CoinSwitch review is complete without listing its pros and cons. However, the trading platform packs numerous benefits, making it a popular choice among newbies and experienced traders. Here is a brief overview of its benefits and drawbacks:
|Its user-friendly interface is ideal for beginners.
|KYC is mandatory to get started.
|Supports instant INR deposits and withdrawals.
|It only supports one fiat currency, INR.
|A short KYC completion process.
|It’s limited to Indian residents.
|Does not impose any transaction limit unless there are specific requirements.
|Credit and debit cards are not supported.
|IMPS bank deposits, NEFT and UPI are supported.
|Does not pack the tools to offer quality day trading.
|Customer service is impeccable.
|A slight delay between the actual price and the selling price.
|Its mobile app is rated 3.5 out of 5 on PlayStore.
|Users can earn 50 Rupees worth of Bitcoin by referring a new customer.
|Low trading fees at 0 to 0.5%.
|Equips numerous security standards.
How to Get Started with CoinSwitch?
CoinSwitch Kuber is among the minorities that prioritize mobile app trading. The platform offers Android and iOS apps to help users trade their favorite cryptos. To get started, customers must download the app and create an account. Here is how users can do it:-
- Go to CoinSwitch Kuber’s official website or launch Google Play Store.
- Enter a valid mobile number on the website to get the download link. On the Play Store, search for the app and click install.
- Wait till the app is installed.
- Open it and register a mobile number.
- Enter the OTP received on the number.
- Set a 4-digit PIN that is easy to remember.
- Re-enter the PIN to confirm it.
- The process is done, and an account is created.
The login process for the exchange is simple. Customers merely need to input their registered email ID or phone number on the app. Users can start trading after entering the PIN or generating an OTP. However, traders must complete the KYC verification before depositing funds.
KYC Verification Process
The exchange asks for the given documents and information to complete the ID verification process:
- User’s name, email address, and date of birth.
- A scanned/printed copy of the PAN card.
- A scanned/printed copy of Voter ID/Passport/Aadhar Card.
Note: The IDs must possess the correct information of the applicant. A driving license is not applicable for the verification process.
Here are the steps to complete the verification process:-
- First, launch the app and open the settings tab.
- Choose User Verification and select Basic verification.
- Fill in details like name, DOB, and email address.
- Enter the OTP received in the email.
- On the PAN verification page, allow the app to access the device camera.
- Click a photo and tap on submit.
- Wait until the photo is verified.
- Choose the document to commence the next stage.
- Click its picture and submit it on the page.
- Wait until the picture is verified.
Every CoinSwitch Kuber platform review must mention its fee structure to inform the users. Usually, crypto exchanges charge three types of fees:-
- Deposit Fee
- Withdrawal Fee
- Trading Fee
It completely negates the consensus by not charging any deposit or withdrawal fees. Moreover, it does not charge any trading fees for the first 100 days. However, after the period is over, users must pay CoinSwitch charges of 0% to 0.5%.
After that, the rate varies depending on the exchange chosen for the transaction. Nevertheless, the fees are still competitive and give the platform an edge over its competitors.
Trading on CoinSwitch
To start trading on CoinSwitch Kuber, users must complete the KYC verification process. The next step is to deposit funds on the platform. Remember that there is no minimum or maximum transaction limit on the exchange. There is a minimum deposit amount to cover the network fees. Here are the steps to deposit money on the platform:
Depositing Money on CoinSwitch Kuber
- Launch the mobile app.
- Browse the Deposit INR option and tap on it.
- Now, enter the desired amount. The minimum deposit limit is 100 Rs.
- Tap on the Deposit option.
- Choose a payment method option between UPI or a direct bank transfer via RTGS, NEFT, or IMPS.
- Select the preferred UPI app and complete the transaction process.
- In case of a direct bank deposit, fund the account before completing the transaction.
Once the deposits are made, users can start buying cryptocurrencies. Unlike deposit and withdrawal, there is an option to place limit orders. To place the order, traders must fill in the quantity and price to buy or sell the cryptocurrency. Once the crypto reaches the price, the exchange will conclude the trade.
Buying Cryptocurrencies on CoinSwitch Kuber
Here is a step-by-step process to buying cryptos on CoinSwitch Kuber:-
- On the mobile app, go to the bottom menu.
- Choose the Market option.
- Go through the list of cryptos and choose the preferred one.
- Tap on the Buy option on the left side.
- Users must fill in the amount to buy the crypto.
- Now tap on Preview Buy.
- Verify the transaction details and tap on Buy.
- The transaction is done, and it will transfer the digital assets to the portfolio.
Buying Crypto With a Credit Card
The majority of the crypto exchanges offer credit card support nowadays. As it is not applicable with the exchange, some CoinSwitch Kuber reviews deduct its usability. However, the platform offers several popular payment methods like UPI, IMPS, and NEFT.
The options are more popular in India, allowing CoinSwitch Kuber to maintain its relevance amid traders.
CoinSwitch Kuber Exchange Rate
CoinSwitch Kuber establishes a distinct market prestige due to its trading approach. Usually, cryptocurrency exchanges provide liquidity on the platform and decide the exchange rate. However, CoinSwitch Kuber connects the traders to multiple trading platforms.
It allows customers to avail themselves of multiple trading rates and choose the preferred one. The function bodes well with CoinSwitch Kuber’s aim to offer simple reading opportunities to beginners.
Supported Cryptocurrencies & Countries
Cryptocurrency and country support is another area of expertise for CoinSwitch Kuber. Although it is only available in India, it allows the platform to cater to a specific region. Moreover, it offers 100+ cryptocurrencies featuring both popular and emerging tokens. Here are some of the cryptocurrencies offered on the exchange:-
- Ethereum Cash
- Basic Attention Token
- Stellar Lumens
CoinSwitch Kuber Customer Support
Every modern crypto exchange must boast responsive customer support to survive the competition. CoinSwitch Kuber does it impeccably by offering a dedicated FAQs section to help users.
Additionally, the platform allows customers to generate tickets for any issues. The customer service team tries to resolve the issues while keeping the user notified quickly. There is also a live chat option available between 7 am and 10 pm.
If needed, users can even contact the team through email at [email protected]. The usual response time for email is 12 hours.
Conclusion: Does CoinSwitch Kuber Justify its Popularity?
CoinSwitch Kuber is an India-based crypto exchange that offers 100+ cryptocurrencies. The platform possesses 4+ years of market experience and is considered the most popular Indian exchange. It excels on the fees front as it does not charge any deposit or withdrawal fee. In addition, there are no charges for buying or selling cryptocurrencies. The platform sets itself apart with its trading functionality, where it connects multiple exchanges to find the best trade rate for users. Its quick KYC verification and multiple payment method support add to its functionality as well. Moreover, the exchange offers earning opportunities with its rewards and referral system. Due to its esteemed customer service, most CoinSwitch Kuber reviews deem it a worthy exchange.
Is CoinSwitch Kuber Trustworthy?
Yes, CoinSwitch Kuber is a trustworthy cryptocurrency exchange. It has been present since 2017 and offers a dedicated platform for Indian traders. Moreover, it boasts a mandatory “know-your-customer” verification to ensure optimal security.
Is CoinSwitch Kuber Free?
Yes, the platform offers free services for most procedures. It does not charge any deposit or withdrawal fees. Plus, there are no trading fees for the first 100 days. Once the period expires, there is a minimal trading fee of 0% to 0.5. This is decided by the exchange chosen for the transaction.
Is CoinSwitch Kuber Safe in India?
Yes, the exchange complies with the ISO 27001 requirements. It also possesses the SOC2 Type II certification. Despite its non-regulatory nature, the platform has not faced any major security breach.
Who Owns CoinSwitch Kuber?
It is a crypto exchange developed and operated by the CoinSwitch team. Its parent company started in 2017, while its India-exclusive platform was introduced in June 2020.