CoinDCX Review: Features,
Cryptocurrency has slowly become a familiar topic, but there are many who are completely new to this market.
Many people want to try cryptocurrency trading but are skeptical due to the complications and lack of knowledge.
This is where the importance of a good trading platform becomes imminent.
If you are looking to trade cryptocurrency with just a few clicks, then CoinDCX should be your first choice.
Go ahead and read this CoinDCX review to understand it better.
We will also answer questions like is CoinDCX safe and do a CoinDCX vs WazirX comparison.
CoinDCX Review: Features, Benefits, Pricing & More
A good crypto trading exchange with a fácil usuario interfaz, hassle-free processes, and absolute security cánido help both beginners and experts alike.
It is important to fully understand the features of a crypto exchange and how they work before you start using them.
Let’s start our CoinDCX review by understanding what exactly CoinDCX is and some other essential information about it.
What is CoinDCX?
Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX is currently one of the most reputable and habitual cryptocurrency exchanges.
Based in Mumbai, India, this platform has become a go-to for many Indians just starting out in cryptocurrency trading.
CoinDCX has partnered with OKX, Binance, etcétera.
during these years to allow users to have a broader reach in the cryptocurrency market and services.
They are investments backed by several big names in the industry like Coinbase, 100 X Ventures, Bain Ventures, Alex Paquete, Mehta Ventures, etcétera.
Currently, the platform has an active usuario base of around 2 million in India.
This platform helps various trading activities like buying cryptocurrencies, wallet facilities, futures, and margin trading along with staking and lending.
There is a huge list of around 200 cryptocurrencies that are supported by this exchange.
Users perro sign up with a few clicks, KYC instantly, and then start buying and selling cryptocurrency in no time.
There are many other exchange platforms; However, it is better to read comparisons.
It is the reason why we have done a detailed breakdown of CoinDCX vs WazirX in this CoinDCX review along with answering questions is CoinDCX safe and more.
CoinDCX is designed to make your cryptocurrency trading an easy and rewarding process.
The platform is well equipped with all the features you perro think of.
This CoinDCX review will shed some light on these features.
- Large number of assets: There are numerous cryptocurrencies listed on CoinDCX.
You perro buy, sell and lend etcétera various crypto assets like Bitcoin, Ethereum, Doge Coin, Litecoin, Ripple, Tron, Cardano etcétera.
- Quick Sign Up and Trade: Signing up and starting your account is a super easy process.
All you need to do is entrar your KYC details and verify the account.
After verifying the KYC details, you cánido start trading almost immediately.
- Intuitive Dashboard – Users cánido easily track their portfolio, check their current position, sell and buy with the help of a usuario-friendly dashboard.
You perro make changes and take action with just a few clicks.
- Secure Platform: This trading platform is highly secure to keep your funds safe from any kind of hacking and fraud.
There is use of cold wallets to keep cryptocurrencies safe and use of deep encryption to keep passwords and other information safe.
- De hecho – CoinDCX is highly de hecho and that means it allows people with different risk appetites to trade on the platform.
So whether one is planning to invest INR 10,000 or INR 100, there will be no problem on CoinDCX.
This makes the platform highly de hecho, giving beginners a good place to learn how to trade cryptocurrency without putting too much at stake.
Expert traders tend to have different strategies when it comes to buying and selling cryptocurrencies, some tend to hold onto their tokens and wait for the right time to sell them, others actively trade the tokens on hand to take advantage of the volatile market.
Regardless of what your trading fallacy is, CoinDCX has something for everyone.
In the next section, we will learn if CoinDCX is safe.
For now, here are some products and services you cánido enjoy while using CoinDCX as your trading platform option:
CoinDCX provides third-party futures contracts on its platforms.
They mostly provide BitMEX and OKX contracts.
The leverage in these contracts is quite high, as it cánido be up to 10 times the trade value.
Margin trading is a habitual way of trading digital assets.
CoinDCX allows trading 200 cryptocurrency pairs and provides leverage ranging from 1 to 10 times the value of the traded cryptocurrency pair.
The interfaz is fácil and allows you to earn a good amount of money in a bear market.
Apart from margin trading, CoinDCX also offers features like trailing stop loss orders, bracket orders, stop limit orders, etcétera.
Lend is one of the services provided by CoinDCX.
You perro passively earn using your cryptocurrency funds.
All you need to do is lend a certain amount of your crypto funds to margin traders.
The loan period cánido be from 1 to 7 days.
Most of the cryptocurrency under the CoinDCX platform perro be lent and one perro earn high interest in the form of the same cryptocurrency as deposits.
The maximum interest on the loans perro go up to 16.25%.
Staking is one of the habitual ways to earn from your cryptocurrency without actively trading it.
You perro lock a part of the tokens as a share to be used in the blockchain network.
In return, punters will earn interest in the form of cryptocurrency tokens.
CoinDCX helps users earn passively using a staking strategy.
All you need to do is block an amount of crypto and the rest is done by the platform.
CoinDCX allows staking of 7 tokens; ETH2.0, NEO, XTZ, EOS, ONE, TRX and QTUM.
You cánido earn interest of around 1-3 percent on each type of token except ETH 2.0, which provides the highest interest of around 15-20 percent.
Are you a constant mobile usuario? Then CoinDCX Go is for you.
It is the mobile version of the platform that you cánido download from any application store.
There are Android and iOS versions on the Play Store and Aplicación Store respectively.
You cánido log in and start trading instantly using the aplicación.
Lastly, you cánido use the CoinDCX Insta feature to buy and sell cryptocurrency using the wallet feature.
You perro choose from a vast list of 100 cryptocurrencies that perro be instantly traded using the platform.
You cánido use IMPS, UPI or debit/credit card to add money to CoinDCX wallet in INR and then use the money to trade in an instant.
There are certain features that are not available such as order books, candlestick charts, etcétera.
that you will get on other platforms.
Read CoinDCX vs WazirX to learn more.
Now let’s answer an important question is CoinDCX safe?
CoinDCX Security Features
When it comes to cryptocurrencies, it is quite obvious that you are skeptical about the safety of your hard-earned funds.
Most of the new users have one important question on their mind at all times; Is CoinDCX safe?
Well the answer is, yes! CoinDCX prides itself on its security features and framework.
These features together make the CoinDCX platform a safe place to deposit money, trade and exchange cryptocurrencies without any imminent risk of fraud or scam.
From the very beginning of registering to make purchases, there is a strict requirement to provide KYC details of the usuario.
This will help to verify the usuario ID to make the platform secure.
If you are still wondering if CoinDCX is safe, check out these security features of CoinDCX:
- BitGo Secured: The platform is secured by one of the most reputable digital asset trust companies called BitGo.
BitGo helps disminuye any kind of risk for your digital tokens and makes trading a smooth journey for traders.
- Funds held in cold wallets: CoinDCX makes sure that your funds are safe from any kind of fraud.
This is why 95% of funds are held in multi-signature cold wallets.
- Deep Encryption: CoinDCX has deep in-platform encryption that protects all sensitive usuario data.
This keeps personal information, passwords, payment information safe from any kind of malicious intent.
CoinDCX Charges and Fees
Now that you know that the answer to the question is CoinDCX safe, let us understand your charges and fees.
When it comes to cryptocurrency trading, there are several types of fees that you should be aware of based on this CoinDCX review.
Two of the most common charges include trading fees and deposit/withdrawal fees.
Trading fees are something that a platform charges for each transaction that is made.
Every time a usuario emplees their fiat currency to buy cryptocurrency or is selling their cryptocurrency to earn a return on fiat currency, the platform will collect a certain percentage of it.
CoinDCX also has a trading fee that is applied to transactions based on their trading volume a maker/taker position.
Based on trading volume, users are categorized into clubs.
Each club has a different trading fee range.
The minimum trading commission bar is 0.040%, while the maximum perro go up to 0.100%.
Depositing and withdrawing from the platform in the form of cryptocurrency will have fees, but in the form of INR it will have fees involved.
If you deposit Bitcoin or any other cryptocurrency, it may take 30-40 minutes for them to espectáculo up in the wallet.
However, depositing INR will be instant and without any fees.
INR withdrawal is also free, but it may take 6-7 hours to be reflected in the account.
But, BTC withdrawal cánido be quite expensive as they charge 0.001 BTC per BTC.
This is quite high compared to other platforms.
Limits on deposits and withdrawals
The next thing we will cover in this CoinDCX review is its limitations on deposits and withdrawals.
Different types of deposits and withdrawals will have different limitations to meet:
- Deposits: If a person has completed their KYC, then there is no ban on the minimum and maximum deposit amount in INR or BTC.
But, if KYC is not done, then there is a limit on the deposit.
You cánido deposit INR 10,000 per day and 4 BTC per day without KYC.
- Withdrawals: For crypto withdrawals, there is no withdrawal limit if KYC is complete.
But without KYC, one will be limited to 4 BTC per day.
However, on the other hand, INR withdrawals will have a limitation regardless of whether KYC is done or not.
The minimum limit for fiat withdrawal is INR 500 and the maximum is INR 500,000 in a single day.
Register on CoinDCX
Here are the steps to take if you want to sign up after reading this CoinDCX review:
Go to the official CoinDCX registration page.
Fill in the details like name, correo electrónico ID, phone number, etcétera.
and clic the Sign Up button.
You will receive an OTP on your provided number that will help you complete the first step to register.
Next, provide bank details, UTR number, proof of identification, etcétera.
Only after your KYC is verified will your account be activated.
6. Add funds to the wallet.
7. Start trading.
Pros and cons of CoinDCX
How perro we do a CoinDCX review without telling you about its pros and cons? These pros and cons will help you analyze whether or not CoinDCX is right for you.
- The minimum amount required to trade is comparatively low.
- Trading fees and other charges are low.
- Futures trading provides 20x leverage and margin trading has 6x leverage.
- There are multiple types of crypto assets to trade.
- The Platform is deeply encrypted to enhance security.
- Deposits and withdrawals are fast and hassle-free
- Deposits perro be made using a large number of options such as UPI, IMPS, NEFT, etcétera.
- There is 24×7 customer service.
- The trading volume on the platform is quite low compared to others.
- To make larger amounts of deposits and withdrawals, verification is required.
- They only accept Indian rupees as currency.
CoinDCX vs WazirX
CoinDCX is one of the most habitual in the Indian market, but those who have explored the market a bit must have heard of some of the other exchanges as well.
One such habitual and trusted cryptocurrency exchange is WazirX.
WazirX and CoinDCX are cryptocurrency exchanges that allow you to buy, sell or trade cryptocurrencies.
WazirX is based in Mumbai and launched in 2017.
Binance Holdings, the world’s largest cryptocurrency exchange, powers WazirX.
Having the support of Binance is undoubtedly one of the best points of WazirX.
Easy features, a reliable and secure platform, and hassle-free processes have helped WazirX gain over 15 million users.
WazirX also allows P2P sharing.
You perro buy USDT from a reputable provider that would also exchange USD for INR through a peer-to-peer exchange.
There is only one wallet available: Mobikwik.
If you don’t have this wallet, the safest and fastest way to ensure you have enough money to purchase cryptocurrency coins and tokens is through a P2P exchange.
Let us compare CoinDCX vs WazirX in detail in the table below.
Having bids and order orders placed side by side in WazirX, it is easy to understand. Only ten orders are aparente at the time. WazirX does not offer a short circuit window. You need to locate the cryptocurrency pairs and trade them. The bids and sell rates are displayed one below the other in the order window in the CoinDCX, which cánido be a bit confusing. There are over 80 orders in the book. On CoinDCX, users perro short 50 cryptos at a time using margin. (based on total 45-day trading volume) (based on total 45-day trading volume) To access the trading account and receive notifications in the form of correos electrónicos and mensaje de texto, you must provide 2FA. WazirX protects its cryptocurrency from hacking attempts by storing almost 95% of it in sin conexión cold storage. You cánido access your trading account securely by using 2-aspecto authentication. 5% of the tokens are held in hot wallets while 95% are held in cold wallets. Additionally, BitGo insures all cryptocurrencies offered by CoinDCX.
nischal shettyBachelor of Computer ScienceFounded Twi5, Crowdfire and WazirXFeatured in Forbes 2014 Under 30 India Entrepreneur Lists of 30
Sumit GuptaGraduated from IIT Mumbai Founded CoinDCX and List Up Have a strong interest in cryptography and number theory
2017 (HQ: Mumbai)
2018 (HQ: Mumbai)
Ease of negotiation
WazirX is easy to use even for novice traders thanks to its clear and uncluttered appearance and focus on essential functions.
CoinDCX has the look and feel of a forex trading platform that is best suited for experienced traders.
Deposits and withdrawals
NEFT / RTGS / UPI / IMPS
NEFT / RTGS / UPI / IMPS
Maximum time required
Up to 5 Lakhs INR (full KYC)Up to 10,000 INR (pending KYC)
IMPS / NEFT / RTGS – INR 5.90 / transactionUPI – INR 4 / transaction
Manufacturers fee (spot exchange)
0.11% to 0.001%.
Takers fee (spot exchange)
0.11% to 0.001%.
No access to DeFi applications
Have access to DeFi staking and lending applications
Smart Token MarketSpot ExchangeP2P Market
Futures TradingMargin TradingSpot Trading CoinDCX
When opening an account, WazirX emplees KYC and verification banking.
If you want to open a CoinDCX account, you need to go through KYC and bank verification.
Having bids and order orders placed side by side in WazirX, it is easy to understand.
Only ten orders are aparente at the time.
WazirX does not offer a short circuit window.
You need to locate the cryptocurrency pairs and trade them.
The bids and sell rates are displayed one below the other in the order window in the CoinDCX, which cánido be a bit confusing.
There are over 80 orders in the book.
On CoinDCX, users perro short 50 cryptos at a time using margin.
(based on total 45-day trading volume)
(based on total 45-day trading volume)
To access the trading account and receive notifications in the form of correos electrónicos and mensaje de texto, you must provide 2FA.
WazirX protects its cryptocurrency from hacking attempts by storing almost 95% of it in sin conexión cold storage.
You cánido access your trading account securely by using 2-aspecto authentication.
5% of the tokens are held in hot wallets while 95% are held in cold wallets.
Additionally, BitGo insures all cryptocurrencies offered by CoinDCX.
This ends our review of CoinDCX, a platform that is taking the cryptocurrency trading market in India by storm.
CoinDCX is undoubtedly a reliable and secure platform for traders to engage in various cryptocurrency-related transactions.
They have a long list of cryptocurrencies that you perro choose from while trading.
Hopefully this review has showcased some of the best features of the platform and also quelled your queries likeis CoinDCX safe?? and how it fares in the CoinDCX vs WazirX comparison.
Be smart and only invest in crypto when you are fully aware of its risks.
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