India has witnessed increasing demands for cryptocurrency apps in the past few years. Many of these apps have grown and become dominant in the crypto market. These apps are always in significant competition with one another. And if you are planning to invest in these, make sure to know about the complete Coinswitch Kuber Review.
Coinswitch is one of the most used crypto apps in the country. Its low fees, trading features, and many other advantages are convenient to many users. This Coinswitch Kuber review article projects the significant features. We will discuss how you can start using this app and its advantages and disadvantages.
Table Of Contents
Coinswitch Kuber Review
Let us go through how this app started, it’s working, and its benefits.
The Start Of Coinswitch Kuber
Coinswitch was founded by Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni in 2017. This trio had immense interest and competence in the IT field. Before starting Coinswitch, they participated in various hackathons and worked in companies like Amazon and Microsoft.
When the RBI lifted the ban over cryptocurrencies, Coinswitch became available to the general public and has snowballed since then. It was launched in June 2020 with its Indian-exclusive trading features and used INR.
Working Of Coinswitch
Coinswitch is used for digital trading currencies. The users can get started with a minimum of 100 rupees. The traders can find exchange rates that are beneficial for them and exchange digital curries likewise. Coinswitch does not generate liquid money, unlike some other crypto exchange platforms.
The app has been able to generate fantastic funds. Coinswitch raised 109 crores in a funding round led by Ribbit Capital and Paradigm. This is a crypto investment firm based in San Fransisco.
Fast And Easy Interface
Many crypto exchange apps are suitable exclusively for experts or beginners. Coinswitch is ideal for beginners as well as expert traders. This is because of its easy to access and fast interface. The app design is well made and easy to explore. It is perfect for beginners to learn more about crypto trading and participate in it.
Low Initial Deposit
The minimal deposit on Coinswitch is 100 rupees. This is convenient for many users since it is not heavy at a high risk of loss. Many other crypto exchange apps in India have a much higher initial deposit. This is one of the main reasons most people prefer Coinswitch.
No Hidden Charges
Coinswitch has a zero brokerage policy. This means it does not impose any hidden charges on trading, unlike many other crypto exchange apps. Hidden charges might cause you to buy or sell for more than you wish to, and a percent of your profit would be taken away for it.
Easy And Quick verification
When creating your account, the apps need to verify your KYL and AML. Coinswitch takes no time to do so; you can get started with the app quickly without having to wait for a few days to get verified.
Safety And security
It is crucial to make sure the trading app you are using is safe and keeps your funds securely. Attacks from hackers and theft can be prevented with a solid security system only.
Coinswitch has been keeping the funds of the users safe and protected. It is stable and has featured in actions to ensure no frauds occur. Coinswitch is considered reliable in this regard. You can check the app’s website to learn more about their security system.
Supports a range of cryptocurrencies
Many crypt trading apps available in the country support only the most popular cryptocurrencies like Bitcoin or Etherium. With Coinswitch, you can trade over 100 cryptocurrencies. You can explore different markets and handle risks efficiently.
Coinswitch has a no-lock-in feature too. You can withdraw your earnings instantly and at any time. This gives Coinswitch a significant edge over other apps since many apps do not support instant withdrawal.
The trading process on Coinswitch is relatively easy and quick. You only need to deposit the minimum amount of 100 rupees or above to get started. Coinswitch does not impose minimum or maximum limits on further transactions. It would help if you verified your KYC to start trading on this app, after which you can deposit the initial amount.
Fee Structure On Coinswitch
Crypto exchange apps charge a Withdrawal fee, deposit fee, and trading fee. These charges are applicable only after the first 100 days of trading. Coinswitch does not charge any withdrawal or deposit fee. The trading fee on Coinswitch could be between 0% to 0.5%.
Drawbacks Of Coinswitch
Let us now look into some of the disadvantages of drawbacks of Coinswitch
KYC Verification Is Mandatory
On Coinswitch, you can not successfully create an account without verifying KYC. Unlike Coinswitch, KYC is needed exclusively for trading on many crypto exchange apps.
Does Not Support Or Debit Cards
You cannot perform any transactions using your credit or debit cars on Coinswitch. UPI is the most preferred method. It also supports NEFT and IMPS bank deposits.
Only Supports INR
You cannot use any other currency on the app. It is also exclusively for Indian users, and you cannot trade with international traders on Coinswitch.
To Sum It Up
Coinswitch has been quick to rise in the crypto market in a short time. It is the most preferred crypto exchange app for many users. This Coinswitch review discusses the origin of the app and its many exciting features. We also go through its drawbacks to get a complete picture.