Comprehensive Guide To CoinSwitch
With many people entering the crypto market, it becomes hard for the person to choose the best trading platform. The digital market is full of cryptocurrency exchanges that offer several different services a user may need.
Every investor needs to look for a platform with many features that offers you complete security to their currency. One of those crypto exchanges which you can choose is CoinSwitch. Let’s have more profound knowledge about it!
What is CoinSwitch?
Table of Contents
CoinSwitch is India’s most popular crypto exchange, which started in 2017. The platform also offers you over 100 cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin, and many more. The exchange is also linked with the crypto wallet and other exchange services.
When it comes to signing in, you can register quickly. Once you start the signing process, the KYC process will begin. The user will have to complete the KYC verification; only they can get the best trading rates on the exchange.
Moreover, the platform does not charge any deposit and withdrawal fees which is why many traders consider this the best trading platform. It supports the payment methods such as fiat currency and UPI, and CoinSwitch uses a unique and different approach to help the users find the best trading opportunities. From there, you can connect the users with multiple exchanges and provide you with the best trading options!
How does it work?
CoinSwitch works like a standard crypto exchange. It is a platform that will allow the traders to trade the digital currencies where they can make deposits with minimal amount. However, it makes them different from the others as it has a unique approach. It does not generate liquidity; it connects with the various exchanges and allows you to find ideal exchange opportunities and rates.
Features of CoinSwitch
The primary features which you can experience on CoinSwitch are mentioned in the following points-
You will benefit from zero brokerage if you choose the CoinSwitch as a trading platform. It does not ask you to pay any brokerage, which is why it is best for beginners. It does allow beginners to understand the crypto market without any risk of heavy funding or anything. Investors can buy or sell the cryptocurrency they want without hidden charges.
Less initial deposit
If you are worried about the initial deposit you may have to make to trade in CoinSwitch, there is also nothing to stress about. It is an Indian-based exchange that does cost you only RS. 100 to start the transaction. It will allow the newbie to understand everything and then invest the money. The traders will not have to worry about losing more because they do not have to invest more than they can afford.
Instant cryptocurrency trading
One of the most impressive features that CoinSwitch offers you is that it provides you the instant cryptocurrency trading. The platform will instantly allow customers to buy, sell, and even trade-in 100+ crypto-assets. You will not have to wait several days to invest; it can only be possible with one tap.
Simple KYC and AML
Most people often face problems while creating an account because they must undergo a lengthy procedure. They have to follow the KYC procedure, which could take so much of their time, and the person can’t spend so much time on just one task. But with CoinSwitch, you will not have to worry about that.
It has simple and fast KYC verification, which means the customers can help with the premium features of trading in just no time. It is essential to verify the account because that will only make the exchange safe and secure for the user.
The only objective of CoinSwitch is that it offers its users the best rates, which even connect them to multiple platforms. It provides the best rate to attract customers and offers customers every possible service without spending so much time.
No Lock-In Restriction
CoinSwitch is not like any other cryptocurrency exchange that you can find. It does allow its users to deposit and withdraw their earnings immediately when they want. The traders will not have to wait around for several hours. It does not have any lock-in period features, which means the users will not have to wait around for a particular time to withdraw their money.
It is the main feature offered to the users by the exchange, which makes the exchange more popular among the people.
In CoinSwitch, the users can experience the live chat option with the customer care staff. If customers face any problem, they can solve the customer queries immediately. Moreover, it will create a support ticket system to resolve customer problems.
Why choose CoinSwitch?
CoinSwitch is one of the best trading platforms with numerous benefits that will make you much more popular. It is a popular choice; if you have just started investing in crypto and do not know much about all these things, then it is the right platform you can choose.
It does offer you some benefits, which are discussed here briefly.
- It is a user-friendly website, so if you are a beginner, then there will be nothing you will have to worry about!
- The KYC verification process is so short and will not take much of your time.
- There is no limit imposed on the transactions as they have specific requirements.
- Customer service is flawless.
- Supports bank deposits, NEFT, and UPI wallets too.
- Low trading fees
- Equips several numerous security standards.
Fees structure CoinSwitch
CoinSwitch is the platform that works as an exchange aggregator instead of an exchange, which is why it charges low fees compared to other crypto exchanges. If you decide to trade, the trading fees you will have to pay will range from 0% to 0.98% on every transaction.
On the contrary, the user has to pay the mining and management fees. The company does not disclose the information about the fees to its users and does not charge any fees for withdrawals and deposits.
When it comes to the deposits and withdrawal methods, it also allows its users to buy the crypto with the help of debit or credit cards. However, it excludes the other payment method such as wire transfer or any virtual wallet such as Skrill or Paypal. But there is a drawback for CoinSwitch, and that is the user cannot just store the stable currencies, and if you are looking for rapid trade during the fluctuations in the market, it may not be possible for you.
While depositing or withdrawing the money, CoinSwitch does not support any fiat currency because it only supports crypto. But if you choose this platform, you will know that it does not limit the buying and selling of crypto. A trader can use the platform as long as the amount that is traded will cover the mining fees.
Cryptocurrencies supported and countries.
The best part about CoinSwitch is that it offers its users a wide range of cryptocurrencies, supporting over 350 coins. There has been a contact addition in the crypto project in their list. There are several different laws, and because of that, only there have been some restrictions for the citizens of some counties or territories on that platform.
How to create an account on CoinSwitch?
CoinSwitch does have a mobile application that you can choose for trading. You can download the application on your Android and iOS device, which will help the traders to trade with their favorite crypto. If you are creating the account for the first time, then you need to check out the points here-
- First, go to the CoinSwitch official site or download it from the Google Play Store.
- Once downloaded from there, you can enter the valid mobile number on the website to download the link. You can search for the application on Play Store and then click to install.
- You need to wait till the app is installed, and once you install it, you can open it and register your mobile number.
- The person will get the OTP on their mobile number and then set a PIN that you can remember easily. You need to re-enter the PIN to confirm it.
- Once you do that, the process will be completed, and the account will be created.
After that, you can create the account and then log in to the account. It is easy; you need to enter the application’s registered email ID or phone number. Once you enter the PIN, you can trade on the platform but ensure you have completed the KYC verification before you deposit your fund in the account.
How to use CoinSwitch Exchange?
If you consider using the platform, you need to know how to use it. You will have to follow a few instructions or steps that will help you with that-
Create an account
At first, the user needs to create an account to start crypto trading. The most notable aspect of CoinSwitch is its anonymity. You can easily access all these features, and users can create the account quickly, which you have just read before. The registration process does not take more time; it only takes a few minutes.
CoinSwitch does not have a long KYC verification process, unlike any other platform. You will have to go through the simple verification process to increase the limit of BTC users to trade each day. If you have created the account with a valid phone number, the user can trade with 6 BTC per day. Providing personal details such as your name, date of birth, and the country you live in will also increase the limit of 100 BTC daily.
The CoinSwitch Airdrop is dedicated to highlighting the best airdrops available in the market. It does support several new currencies. The company featured in the platform offers the nee coins to the wallet holder so that they can get more interested in tokens.
To get the airdrops, the crypto traders must meet the criteria of CoinSwitch, which will also include the ERC20 compatible wallet, specific requirements, and a minim balance in the wallet. On the CoinSwitch Airdrop page, the users can see active Airdrops available, and you can see them just by completing the available tasks.
The platform also allows businesses to trade cryptocurrencies with the API. The API process it has is relatively straightforward and fast, and it will offer you the possibility to trade and share the revenue created from every transaction.
The Final Words
CoinSwitch is the India –based crypto exchange that will offer you more than 100 cryptocurrencies to trade. The website has been in the market for more than four years and is considered one of the most popular exchanges in India. It does not offer to charge high fees on deposits or withdrawals.
Moreover, CoinSwitch also offers its users several different opportunities that will allow them to earn more rewards and referral systems. It does have esteemed customer service then; it will be completely worth choosing.
Also Read coinbase review- Complete Guide