CoinDCX vs Coinswitchkuber I Which is A Better Cryptocurrency Exchange For You?
Table of contents
Introduction: CoinDCX vs Coinswitchkuber
One of India’s largest and most valuable cryptocurrency exchange platforms, Coindcx was established by two IIT Bombay alumni Neeraj Khandelwal and Sumit Gupta in 2018. Emerging as India’s first crypto unicorn, CoinDCX has a user base of more than 125 million. Including popularly used coins like Bitcoin (BTC), Ethereum (ETH), Anchor Protocol (ANC), Shiba INU (SHIB), and Polygon (MATIC), CoinDCX offers buying, selling, and trading in more than 200 cryptocurrencies.
CoinDCX is the first Indian cryptocurrency startup to get the status of a unicorn by achieving a valuation of $1 billion. The company received $90 million in funding in August 2021 and $135 million in a Series D funding round from Steadview Partners and Pantera Capital, taking its current valuation to around $2.15 billion. Some of its investors include Facebook co-founder Eduardo Saverin’s B Capital, DraperDragon, Polychain Capital, and Coinbase Ventures.
Among India's leading crypto trading apps and cryptocurrency exchange platforms, CoinSwitch Kuber was founded by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari in 2017. With a valuation of $1.9 billion, CoinSwitch Kuber has become a unicorn in a short period. Registering a whooping growth of 3,500% in 2021 in terms of transaction volumes, it has acquired a user base of above 15 million. Moreover, in a Series B funding round it received $25 million from Tiger Global Management and VC firm Sequoia.
The platform allows its users to trade, buy, and sell more than 250 cryptocurrencies using INR. It offers crypto to crypto, INR to crypto, and crypto to INR trade on its platform. The minimum amount to start trading on CoinSwitch is INR 100.
Security
Along with trading features, the protection of funds is no less important for an investor. Investors put security at the top when selecting a crypto exchange. CoinDCX stores 95% of all funds in multi-signature cold wallets. The security feature CoinDCX provides to its users is OTP-based two-factor authentication security (2FA) and withdrawal confirmation to protect its users’ funds.
CoinSwitch Kuber provides similar security features to that of CoinDCX. CoinSwitch has made KYC mandatory for its users to avoid illegal activities on its platform. Unlike an exchange wallet, CoinSwitch Kuber provides a private wallet. To refurbish funds security, CoinSwitch has made it compulsory that users' transactions must have their own wallet address.
User Interface
An easy and feature-rich user interface is the preferred choice of investors when they choose a crypto exchange to start investing in cryptocurrency. As per the users' reviews and experiences, CoinSwitch Kuber’s app has a simple user interface and is easy to use. On the other hand, CoinDCX’s user interface is slightly complicated for beginners as compared to CoinSwitch and other exchange platforms. According to reviews, their order book is slightly confusing and is designed for experienced investors. Hence the CoinDCX vs CoinSwitch Kuber comparison shows that CoinSwitch Kuber is a perfect crypto exchange for easy buying and selling to beginners, while CoinDCX is meant for expert traders.
Trading Features
Since India is a price-sensitive market, where investors have a small bearing capacity. To address this problem of Indian investors, CoinDCX and CoinSwitch have launched a systematic investment plan (SIP) on the line of mutual funds, which splits the investment over a long duration to make it affordable for small investors.
One of CoinDCX’s unique features is the Crypto Investment Plan (CIP), which allows users to invest a small fixed amount per week/month, instead of investing all the money at once. It does not only reduce the burden of one-time big lump sum investments but also minimizes the losses. It allows the users to buy a small portion of a coin at different price points per week/month over a longer period, mitigating the risk and market volatility.
Similarly, CoinSwitch has also launched a disciplined way of investment, the Recurring Buy Plan (RBP). It uses the principle of a systematic investment plan (SIP), allowing its users to make consistent investments of a fixed amount at fixed intervals in the cryptocurrency of their choice. Based on the principle of SIP (Systematic Investment Plan) in Mutual Funds there is no lock-in period for crypto SIPs.
Trading: CoinDCX vs Coinswitchkuber
CoinDCX offers trading in over 200 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Polygon (MATIC), and Tether (USDT). It supports 600+ spot pairs & 400+ margin pairs. With trading options in more than 250 cryptocurrencies, CoinSwitch has wide options than CoinDCX. However, both varied based on trading features and charges. To begin investing, you need to register on both exchanges by signing up. You need to upload your Aadhaar card and PAN card to complete compulsory KYC verification.
Both CoinDCX and CoinSwitch Kuber allow their users to start investing with a minimum amount of Rs 100. Users just need to add Rs 100 to their crypto wallet and start buying the crypto they desire. Both the platforms support trading in INR.
Fees and Charges
Known for lower transaction charges, CoinDCX charges 0.1% maker fees and 0.1% taker fees, per transaction, which is relatively lower than average industry charges. CoinDCX has an upper hand over its competitors including CoinSwitch Kuber due to its lower charge policy on deposits and withdrawals. CoinSwitch also does not charge any fees for trading for the first 100 days. But there is a transaction fee of 0%-0.5% based on the amount of the transaction.
Final Verdict
This detailed guide comparing Coindcx vs Coinswitchkuber must have helped you enhance your understanding of crypto exchange, and choose a perfect crypto exchange to begin your trading journey. We also recommend you explore more on how to trade on CoinDCX as you are set to step into the crypto world.