How to Trade on CoinSwitch Kuber?
Table of contents
What is a Crypto Exchange?
It's an online platform that enables investors to trade in cryptocurrency for other assets including digital and fiat currencies. On a crypto exchange, you can buy cryptocurrency using a fiat currency, like INR, and can also convert the cryptocurrency into regular currency to keep it as cash in the exchange or withdraw it to your regular bank account. You can also trade one crypto for another. For example, you can convert Ethereum to Bitcoin to Litecoin on a crypto exchange.
A crypto exchange also provides users with an online wallet to store their electronic funds and cryptocurrencies. Coinbase, Binance, and WazirX are some examples of crypto exchanges.
What is CoinSwitch Kuber?
Founded by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari in 2017, CoinSwitch Kuber is one of India’s leading crypto trading apps and cryptocurrency exchange platforms.
Over a short period of time, the unicorn has grown into a $1.9 billion company.
The platform allows its users to buy, sell and trade cryptocurrencies through their easy-to-use CoinSwitch Kuber mobile app. With a user base of above 15 million, it registered a growth of 3,500% in 2021 in transaction volumes. CoinSwitch Kuber offers trading in more than 100 cryptocurrencies using INR. It facilitates the users to trade INR to crypto exchange, crypto to crypto, and crypto to INR in a single place.
The unique thing about CoinSwitch is that it allows the investors to trade with an amount of as little as Rs 100, making it feasible for a large number of small investors to try their hands on crypto trading, with less potential risk.
How Does CoinSwitch Kuber Work:
It enables users to buy over 100 cryptos with Indian Rupee INR. Investors can deposit INR in their CoinSwitch Kuber wallet to buy cryptocurrency via multiple payment methods including debit cards, credit cards, UPI, bank transfers, and net banking. An investor can convert or exchange INR to any of the 100 cryptos supported by CoinSwitch Kuber.
To make the investment more convenient for the investors, the Market section of the CoinSwitch Kuber App offers different trading options, including, market rank, market cap, circulating supply, and trading activity. You need to sign-up on to the CoinSwitch Kuber mobile App and complete the KYC/AML verification process before you start trading.
Registration:
KYC Verification:
Go to the profile section of the App and complete the following KYC verification details:
After you receive a confirmation email regarding the verification of your CoinSwitch Kuber account, your Wallet and Buy option on the home screen will be unlocked.
How to Trade on CoinSwitch Kuber?
Once you have completed the registration and the KYC registration process, you can deposit funds in your CoinSwitch Kuber wallet to start buying and selling crypto with INR. The most commonly used trading pairs on CoinSwitch Kuber are INR to BTC, INR to ETH, INR to LTC, INR to XRP, and INR to DOGE. It helps the investors to buy and sell cryptocurrency at the best possible rate by pooling the prices of different crypto exchanges and aggregating their liquidity. You can track your order in real-time under the Portfolio section.
KYC Verification:
Go to the profile section of the App and complete the following KYC verification details:
After you receive a confirmation email regarding the verification of your CoinSwitch Kuber account, your Wallet and Buy option on the home screen will be unlocked.
How to Trade on CoinSwitch Kuber?
Once you have completed the registration and the KYC registration process, you can deposit funds in your CoinSwitch Kuber wallet to start buying and selling crypto with INR. The most commonly used trading pairs on CoinSwitch Kuber are INR to BTC, INR to ETH, INR to LTC, INR to XRP, and INR to DOGE. It helps the investors to buy and sell cryptocurrency at the best possible rate by pooling the prices of different crypto exchanges and aggregating their liquidity. You can track your order in real-time under the Portfolio section.
No Deposit and Withdrawal Fees:
CoinSwitch Kuber has got an edge over other crypto exchange platforms owing to its zero charge policy on deposits and withdrawals. It also does not charge any fees for trading for the first 100 days. However, there is a transaction fee of 0%-0.5% based on the amount of the transaction.
Buy Crypto With Just Rs 100
CoinSwitch Kuber crypto exchange offers its users to start investing with just Rs 100, which is the lowest in the Indian crypto market so far. This initiative has drawn investors toward the platform who don’t want to take a big risk at once. All you have to do is to add Rs 100 to your CoinSwitch Kuber wallet and start buying the crypto you desire.
Trading in INR:
CoinSwitch Kuber enables Indian users to buy, sell and trade cryptocurrencies with INR. INR can be deposited in the wallet via debit/credit cards, UPI, IMPS bank transfer, and NEFT. Till now, CoinSwitch Kuber has processed over $5 billion through INR trading.
Limit Orders:
CoinSwitch Kuber provides an option of Limit Order on its platform to the users, which enables you to buy or sell a crypto coin at the price you desire without waiting for the price to hit around the clock. When you can't monitor market moves, you can set a certain price through the Limit Order option to buy or sell your crypto. It helps the users to maximize their profits and minimize losses.
Recurring Buying Plan (RBP)
To make the investment affordable for everyone, Coinswitch has launched a disciplined way of investment, the Recurring Buy Plan (RBP). Using the principle of a systematic investment plan (SIP), RBP has enabled users to make consistent investments of a fixed amount at frequent intervals in cryptocurrency. Under RBP, an investor can invest a small amount of money every month in the crypto asset of their choice, instead of pumping a large amount at once. It doesn't only reduce the burden of the investor by spitting it into smaller monthly chunks, but also minimizes the risk and volatility. There is no lock-in period for crypto SIPs.
How to Withdraw Funds?
CoinSwitch Kuber offers instant liquidity to its users. The investors need not wait for the buyers to sell their cryptocurrency at a specific price. The request is executed as soon as you tap on the Sell button on the App. The amount will reflect in your account, which you can withdraw immediately. There is no withdrawal charge from CoinSwitch, regardless of the amount.
Conclusion
Hopefully, this CoinSwitch Kuber review must have enlightened you about the Indian cryptocurrency exchange and how to trade on CoinSwitch Kuber. Nonetheless, we recommend you do your research and analysis to embark upon your journey in the crypto world. Read more about crypto exchange reviews to better equip yourself with all the knowledge you need to start as a professional crypto trader.