Wazirx and CoinSwitch are two popular cryptocurrency apps and are both good choices. To help you figure out the most suitable one for you among these two, this article compares both of them, Wazirx Vs CoinSwitch, and looks into the various different features they offer.
So without any further ado. Let us dive into – Wazirx Vs CoinSwitch.
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Wazirx Vs CoinSwitch
The most important thing to look into for investors is whether the app charges fees for transactions by crypto exchanges. Wazirx is transparent in this regard and states that it charges 0.2 percent fees on all crypto transactions or trading. If you deposit money into the app from your bank, it will cost you 5.9 Rupees, and Wazirx charges 5 to 10 rupees for withdrawing money from the app.
Get Cashback using Wazirx Referral Code.
CoinSwitch states that it does not charge any fees for depositing and withdrawing money into the app. But CoinSwitch does have hidden charges. The company will deduce 1 to 2 percent of the cost of the purchase whenever you buy any cryptocurrency from the app. For buying and selling cryptocurrencies, CoinSwitch has different prices, which is not the case with Wazirx.
Get Cashback using CoinSwitch Referral Code.
Wazirx is aimed at a more sophisticated demographic looking into investing in cryptocurrency as it is more advanced. CoinSwitch is a user-friendly platform aimed at users who are learning crypto or take it more as a hobby.
Wazirx has easy signup. On entering your email and password, you’ll receive an OTP. Following which you will have to upload documents for KYC. If you choose to skip this step, the app will not allow you to withdraw your cryptocurrency. Your documents will be verified within 24 to 48 hours, after which you can start using your account and start trading.
For creating an account on CoinSwitch, you need to enter an email and password. Once your phone number is verified, you can start using your account. This CoinSwitch platform allows anonymous trading; hence you need not create an account for transaction purposes.
Both apps have fairly good and even similar ratings on the Google play store and have a lot of downloads since these are widely used apps in the country.
Wazirx has a 3+ rating on the Google Play Store and a fair balance of positive and negative reviews. The negative reviews about Wazirx are mainly regarding the high costs for transaction and withdrawal. CoinSwitch has a rating of 2.9, with many users complaining about the app crashing or lagging.
The CoinSwitch is more so recommended for beginners since it is easier to use. It has an easy and clean UI and UX and hence is easier to work with. The CoinSwitch app has an appealing design, and the features are easier to understand and discover.
Wazirx is a more complicated app with many features that beginners might not be very comfortable using. Users who have experience in cryptocurrency or are involved in it as more than just a hobby are recommended to use Wazirx. It has more features, and if the person has in-depth knowledge regarding these and some experience, they will prove to be very beneficial.
Wazirx supports various platforms, including Windows, MAC, Linux, Saas, iPhone, iPad, and Android. CoinSwitch supports only Saas. Hence users looking for apps that can be controlled from their varied devices are advised to pick Wazirx.
Cryptocurrency has become an area of intense interest in India in the past few years. A lot of cryptocurrency apps have become the center of attraction for users. For many investing in cryptocurrency is a hobby, but as the market becomes more saturated, cryptocurrency apps have become more competitive.
Users have a wide variety of apps to choose from, and these apps have been consistently being improved by the makers to gather the most number of users.
Both Wazirx and CoinSwitch have a huge number of users in India and are very popular. Both of them have their features and advantages as well as disadvantages. The above list of comparisons between the two apps will help you pick the best one based on your needs and skill level. The various factors compared also make it easier to understand the important factors to consider when you are choosing a cryptocurrency app for yourself.