Coinsbit vs Coinswitchkuber l Which is a Better Crypto Exchange For You?

If you have figured out what cryptocurrency is, the next important question you have to address is which platform you should use to trade that currency. To help our readers choose a perfect crypto exchange that suits their preference and help them make more out of their investment, in this article, we'll go over the Coinsbit vs Coinswitchkuber.

Introduction: Coinsbit vs Coinswitchkuber

Coinsbit was founded in Estonia in 2017. Being one of the largest crypto exchanges in the world it was launched for Indian users in 2021. It offers buying, selling, and trading in over 100  cryptocurrencies. Including INR, Coinsbit supports transactions in USD, EUR, UAH,  KZT, RUB, and TRY. CNB is its native utility token of Coinsbit for European countries, and CIN is exclusively for Indian users. It has over 5 million users worldwide apart from 1 million users in India. It is available in English, Hindi, and Russian language.

Founded by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari in 2017, Coinswitch Kuber has grown into a $1.9 billion unicorn in a short span of time. Registering an exponential growth of 3,500% in 2021 in terms of transaction volumes, Coinsbit India is listed as one of the top crypto trading exchange platforms in India. It allows users to buy, sell and trade cryptocurrencies through mobile apps and web-based platforms. Offering trading in more than 100 cryptocurrencies, CoinSwitch Kuber has a user base of above 15 million, which is far more than that of Coinsbit.

Security: Coinsbit vs Coinswitchkuber

Security is the top feature that investors and traders look for in a crypto exchange.

All transactions on Coinsbit are performed via the “Escrow” principle wherein funds are held in a third-party account until the transaction is processed. It ensures the protection of funds and avoids any situation of scams and hacks. 95% of the digital assets on Coinsbit are stored in offline cold storage wallets which ensures protection from unauthorized access and cyber-attacks. Coinsbit also uses a Web Application Firewall (WAF) to provide protection from potential hack attempts and online vulnerabilities on the webpage.

On the other hand,  CoinSwitch Kuber has made KYC (Know Your Customer) mandatory for all users to avoid money laundering 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: Coinsbit vs Coinswitchkuber

Coinsbit is known to have clean UI and UX, making it easy for new and experienced users to start investing. Although Coinsbit India UI consists of a lot of options like pro spot, order book, open orders, staking pool, etc, the availability of so many options in the single dashboard makes it look clumsy and hard to use. Online reviews suggest that the CoinSwitch market chart does not give easy access to market analysis.

CoinsSwitch app has a reputation for having a user-friendly UI and a robust withdrawal and deposit mechanism. CoinsSwitch is only available on mobile app-Andriod and iOS, it's not available on the web, while Coinsbit offers all device support including mobile, tablet, and desktop.

Features: Coinsbit vs Coinswitchkuber

Coinsbit offers the staking pool option that allows investors to dedicate their resources toward the development of the blockchain to earn passive income. Coinsbit allows its users to use their cryptocurrency or digital funds to shop at some of the largest online brands in India and abroad. Through the over-the-counter (OTC) desk option, it facilitates bulk crypto-to-crypto or fiat-to-crypto trade between two parties, which is not available on other commonly used crypto exchanges.

Coinsbit has also launched some unique investment tools to make it an attractive crypto destination. It has started a systematic investment plan (SIP) Recurring Buy Plan which works as mutual funds, allowing the users to make crypto investments in small monthly installments. It allows its users to make a fixed amount of investment in frequent intervals in the cryptocurrency. It does not have any lock-in period.

CoinSwitch Kuber has launched several investment options for Indian users that make investment easy. It has a Limit Order option on its platform which enables the users to buy or sell a crypto coin at a certain price they desire without waiting for the crypto to hit the exact price. Users can set a certain sell and buy price through the Limit Order to maximize their profits and minimize losses.

Like Coinsbit, Coinswitch has also launched a SIP-based investment instrument the Recurring Buy Plan (RBP). It makes the investment affordable for everyone. With RBP investors do not need to invest a large amount of money at a time. They can invest a small amount of money every month in the crypto asset of their choice. It minimizes the risk and volatility.

Trading: Coinsbit vs Coinswitchkuber

Since Coinsbit is an international exchange with a special focus on European countries and is a new entrant in India, its Indian version has comparatively fewer trading options than Coinswitch Kuber. CoinSwitch Kuber facilitates buying, selling, and trading in more than 250 cryptocurrencies, while Coinsbit India is limited to just 50.

Despite being a foreign-based platform, Coinsbit’s trading app is available in multiple languages including English, Hindi, and Russian, and has customer care support in Hindi, Marathi, Bengali, Telugu, and Tamil, etc, whereas CoinSwitch is available only in English.

CoinSwitch exchange provides the market option to users that have a section of market trends, wishlist, top gainers, and top losers. You can get live price alerts on all crypto. CoinSwich offers crypto to crypto, INR to crypto exchange, and crypto to INR trade on its platform.

The minimum that users can start investing with CoinSwitch Kuber is INR 100. Users just need to add Rs 100 to their crypto wallet and start buying the crypto they desire. Both Coinsbit and Coinswitchkuber support trading in INR.

Charges and Fees:  Coinsbit and Coinswitchkuber

Coinswitchkuber has a lower transaction and withdrawal fee as compared to Coinsbit. Coinsbit charges a fee of 0.20% for taker and maker, while Coinswitchkuber charges 0% to 0.5% for taker and maker fees.

Coinswitchkuber is known for free deposits and withdrawals. It 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. Coinsbit takes 0.0001 BTC for Bitcoin withdrawal.

Coinswitchkuber has no maximum withdrawal and deposit limit. Coinsbit has a maximum withdrawal limit of $500 per 24 hours, which somewhere put it behind Coinswitchkuber.

Final Verdict

Now as a crypto investor you know how important choosing the right crypto exchange is. This Coinsbit vs Coinswitchkuber guide will turn out to be useful the next time you are wondering where to trade your crypto. Coinsbit has an edge in terms of the user interface and security, while Coinswitchkuber has the clear upper hand on investment options. As you are familiar with what is Coinsbit and Coinswitchkuber, you can start investing by enhancing your knowledge on how to trade on Coinsbit or how to trade on Coinswitchkuber.