CoinSwitch Review

What is CoinSwitch?

CoinSwitch is an Indian-based cryptocurrency exchange aggregator that lists crypto trading data from multiple exchanges like Coinbase, Kraken, Gdax, and Poloniex. As opposed to traditional trading platforms that generate liquidity from users, CoinSwitch does not run a centralized crypto exchange. It can plug into multiple exchanges, allowing users to access the best prices and easy token trading processes. 

It has over 20 million users and crossed $10 billion in trading transaction volume. The team has raised $25 million in a Series B funding round from Tiger Global Management. This capital injection comes from its $500 million valuation. CoinSwitch will use this development money to revamp its aggregation technology, build its brand, boost product and security capabilities, and increase crypto awareness in India.

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‍CoinSwitch Features

CoinSwitch is a leading cryptocurrency exchange platform based in India. It serves as a comprehensive trading platform that aims to simplify the process of buying and selling cryptocurrencies. The platform is designed to be user-friendly and offers a wide range of features to facilitate crypto trading. Here are some of its key offerings:

• Lowest Commissions: CoinSwitch offers competitive rates, making it cost-effective for traders.
• Extensive User Base: CoinSwitch boasts over 1.9 crore users and has facilitated trades worth over ₹50,000 crore.
• Wide Range of Cryptocurrencies: The platform lists over 100 cryptocurrencies, offering a broad spectrum of trading options.
• Multiple Exchanges, One Account: The platform pools liquidity from various leading crypto exchanges, both in India and globally, allowing users to trade at the best rates.
• Rupee-Powered: CoinSwitch supports transactions in the Indian Rupee, making it convenient for Indian users.
• Advanced Trading Platform: The platform is designed with advanced features to offer a game-changing trading experience, such as limit orders and stop losses.
• Security: CoinSwitch places a high emphasis on security, employing multilevel security measures and advanced encryption techniques.
• 24/7 Customer Support: The platform offers 24/7 customer support through live chat, email, and a ticketing system.

Is CoinSwitch Regulated?

Yes, CoinSwitch is a regulated and secure exchange in India. It is a non-custodial platform, which means it does not store users' private keys worth billions of dollars on its hot wallets. Instead, its users store their assets in personal wallets and protect their private keys. That said, CoinSwitch has KYC processes, and its protocols are ISO 27001 and SOC2 Type II compliant.

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Fees Schedule

CoinSwitch has a 0.5% fee on all trades.  Its pricing model and fee structure are opaque when compared to other exchanges. There are no trading limits on the platform, and users can trade any amount depending on the availability of liquidity on their exchange of choice. They encourage traders to work with sizable trades that will adequately foot all blockchain fees.  

It also does not levy a direct charge on deposits. You can buy hundreds of cryptocurrencies using debit or credit card account deposits. They support all major currency denominations like USD, JPY, RUB, and EUR. The minimum amount payable through card transactions is $50, while the maximum is $10,000. It also has a monthly limit of $50,000 on all card transactions.  CoinSwitch uses Simplex, a European payments company, as a payment systems facilitator.

You can withdraw your funds from CoinSwitch straight to your linked bank account. You will only need to input details such as your bank account, number, name, and IFSC code to match your banking details to your KYC data.

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Who are the CoinSwitch Kuber Founders?

CoinSwitch was founded in 2017 by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari. Ashish Singhal, the CEO, brings a strong background in technology and entrepreneurship, while Govind Soni, the COO, and Vimal Sagar Tiwari, the CTO, contribute their expertise in software development and blockchain technology, respectively. Together, they have built CoinSwitch into a platform that prioritizes ease of use, security, and customer satisfaction.

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CoinSwitch Mobile App

The CoinSwitch app has a clean and easy-to-use interface, perfect for beginner traders. However, professional traders may prefer apps with a wide range of professional or premium trading tools and features. The mobile app is supported on both Apple and Android devices. It is currently rated 3 stars on the Google Play Store and 4.5 stars on the Apple App Store.

Customer Care

It has dedicated customer care that handles user inquiries, complaints, and compliments. Their email address is support@coinswitch.co. Admins respond to all emails within 12 hours on average. Users can also get answers to other queries via a dedicated FAQ page. In addition, several tutorials offer learning and guidance to users as they navigate the platform and the crypto space in general. Users can also get help by contacting admins through the live chat feature.

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CoinSwitch Referral Program

CoinSwitch has a vibrant referral program that pays out exclusively in Bitcoin. Users need to enter their Bitcoin address to access a referral link.  You will earn $5 for each new referee who uses the link to sign up and complete a transaction worth at least $100. In addition, the referral will win $5 after signing up and completing their first transaction worth at least $100.  Apart from the initial payout, the referrer also earns 25% revenue from all trades completed by referrals as long as they stay on the aggregator platform.

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Final Thoughts

To conclude, CoinSwitch is a robust cryptocurrency exchange aggregator that has significantly simplified the crypto trading landscape. Based in India, the platform offers a one-stop solution for traders by aggregating real-time data from multiple leading exchanges. With support for over 100 digital assets and a user base exceeding 20 million, CoinSwitch has carved a niche in the crypto world.