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CoinDCX Review: All you needed to know! Is it safe? Legal in 2021?

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Coindcx Review
Coindcx Review

We’ll go over everything about CoinDCX in this post ( CoinDCX CoinDCX Review: All You Needed To Know! Is It Safe? Legal in 2021? ) from its features, things you must know before doing signup, and benefits to its drawbacks. But first and foremost, let us examine the exchange’s basis and history.

CoinDCX was established on April 7th, 2018, to provide a user-friendly environment where users can access a comprehensive range of economic goods and co-operations, all of which are backed by industry-leading security and insurance protection. CoinDCX is an ISO-certified firm that offers reasonable liquidity and a quick onboarding procedure. Binance (the world’s largest crypto exchange), Huobi, and Okex are also CoinDCX’s exchange partners.

In December 2020, the exchange completed its third round of funding, raising a total of USD 19.4 million from investors, including Coinbase Ventures (the investment arm of San Francisco-based cryptocurrency trading platform Coinbase), Polychain Capital, Bain Ventures, Bitmex, Mehta Ventures, and Alex Pack, among others.

With an average 24-hour transaction volume of USD 2.6 million, the exchange provides over 200 different cryptocurrencies, including Bitcoin, Ethereum, and other altcoins (approx.).

Why Should You Use CoinDCX?

CoinDcx emphasizes the importance of creating a biological system that allows individuals to be their most valuable selves and gives them a platform to do what they like the most: grinding away. At DCX, life is centered on enabling deep knowledge and a positive attitude.

It’s not unique to see gatherings of people engaged in extraordinary conceptualizing, discussing, and developing solutions for today’s and tomorrow’s issues; to see similar colleagues focused and dedicated to their work, CoinDCX Review, and to see them meet up for a few spare minutes around each other on another day. We want to build an ecosystem in which employees may grow as individuals and as a group.

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KYC requirements in the CoinDCX App (Step by Step): CoinDCX Review

To begin, go to the CoinDCX Go app’s settings and toggle on KYC.

Currently, you must select Complete KYC.

  • Above all, you must input your bank details such as Account Number and IFSC Code, and then click Proceed.
  • Currently, an OTP will be given to your mobile number, which you must input. Then, one rupee will be paid to the bank you just joined, and the bank’s functionality will be tested.
  • Your record KYC will be completed right here.

CoinDCX is something you should be aware of.

  • During the fourth quarter of 2020, the firm witnessed a trade of $20-25 million.
  • CoinDCX is the first Indian cryptocurrency exchange to enter the market.
  • According to ET, CoinDCX had 1.5 million registered users last month, a 700 percent increase since March 2020. However, this is a fall in the bucket compared to the corporation’s 50 million dollar Mark.
  • According to investigation firm ( VID ) Venture Intelligence data, investments in crypto firms more than 4X in 2020 end, growing from $5 million in 2019 (Q4) to $24 million in 2020 (Q5). CoinDCX appears to have been considered for the greatest of that speculation.
  •  CoinDCX picks Amitabh Bachchan as brand ambassador to aid crypto awareness on Business-standard. 
  • CoinDCX, along with WazirX, Zebpay, and CoinSwitch Kuber, is one of India’s top four cryptocurrency exchanges.
  • Throughout 2020, it has raised $19.4 million in three financing rounds.

Have a look on CoinDCX Timeline

Coindcx Review: All You Needed To Know! Is It Safe? Legal In 2021?

Owners of CoinDCX and Information about Them

DCX is a Singapore-based company that invests heavily in cryptocurrency-based financial services. DCX is causing a stir with its crypto-based products by developing borderless monetary administrations that ensure faster, more straightforward, and ongoing cash flow. DCX is changing people’s lives every day with its wide range of products.

DCX is a Singapore-based company that invests heavily in cryptocurrency-based financial services. DCX is causing a stir with its crypto-based products by developing borderless monetary administrations that ensure faster, more comprehensive, and ongoing cash flow. DCX is changing people’s lives every day with its wide range of products.

Sumit Gupta Coindcx

Gupta, Sumit (CEO)

At CoinDCX, Sumit Gupta is the Chief Executive (CEO) and co-founder. Sumit joined an MNC in Tokyo shortly after completing his undergrad and post-graduation at IIT Bombay. He created India’s first location-based internet marketplace within a year, which grew into a multimillion-dollar business. To lure non-crypto community members to the crypto business, Sumit feels that it is necessary to educate people while inventing many cryptocurrency goods within reach of the average person’s hands and fingertips.

Neeraj Khandelwal Coindcx

Khandelwal, Neeraj (CTO)

CoinDCX’s Chief Technology Officer (CTO) and co-founder are Neeraj Khandelwal. Neeraj is a highly competent engineer who oversees all of CoinDCX’s technological development. In 2012, he received his Electrical Engineering diploma from the famous IIT Bombay. Blockchain and AI, he believes, have the potential to transform the way humankind operates in the same way as the internet and cellular telecommunications did. DCX is rapidly expanding worldwide under his technical supervision, with a wide range of crypto instruments accessible for customers to trade. It’s because CoinDCX is quickly establishing itself as the world’s most flexible exchange.

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CoinDCX offers a variety of transactions.

Users can engage in Spot Trading, Margin Trading, and Futures Trading on the exchange. On CoinDCX, a margin transaction can be leveraged up to 6X. A futures contract, however, can have up to 20 times leverage.

Withdrawals and deposits are made instantly (deposit and withdrawal of fiat currency)

CoinDCX’s “Insta” function allows users to purchase cryptocurrencies using Indian Rupees (INR). Please note that CoinDCX only accepts the Indian rupee as a fiat currency. Each transaction has a minimum purchase or sells limit of INR 1 and a maximum buys or sells limit of INR 1,000,000.

The lending of digital currency

“Lend” is a lending platform that allows users to earn interest on cryptocurrencies held in their CoinDCX account. The user will be paid interest in the same cryptocurrency as their initial deposit. So, for example, if you lend BTC, you will receive interest in BTC.

Check here to see our Top Article regarding Bitcoin or cryptocurrency loans/lendings on CoinDCX review.

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All locked coins are held in geographically dispersed cold wallets with DDoS protection, frequent stress testing, and multi-signature authentications to ensure cutting-edge security.

Staking a Coin

Coindcx Review

Users of CoinDCX may stake their cryptocurrencies on the platform and receive staking incentives. The staking function is currently available in 7 currencies.

CoinDCX Exchange’s Advantages and Disadvantages

Pros

  • The following are some of the exchange’s advantages:
  • The exchange features a user-friendly design and a phone app that is completely functioning.
  • CoinDCX review has a large social media and community presence.
  • The exchange has a well-known investment base, giving it a high level of reputation and user trust.
  • For Margin Trading and Futures Trading, the exchange provides enough liquidity to the users.

Cons

  • CoinDCX should strive to improve in several areas, including:
  • The Indian National Rupee is the sole fiat currency supported by the exchange (INR)
  • In comparison to the biggest crypto exchanges, trade volume is very modest.
  • In India, the legal environment for cryptocurrency trading is unclear. On the other hand, the situation in India is anticipated to improve as authorities consider the potential benefits of blockchain technology. Even though CoinDCX is registered outside of India, the majority of its users are Indian. As a result, the Indian jurisdictional risk might expose CoinDCX review.

Sub Accounts Facility on CoinDCX

CoinDCX review Control numerous accounts from a single location or device.

Sub-accounts on CoinDCX provide you the option of splitting up your positions. You can create new sub-accounts, change which one you’re using, and move funds between them. As a result, you may divide your trading and investment activity into different accounts.

Mobile Application and User Interface

Coindcx Review
CoinDCX Review – Cryptocurrencysimple.com

The exchange’s trading interface is extraordinarily dynamic and user-friendly. The perspective will assist you in trading in a comfortable and hassle-free manner. In addition, the exchange offers a mobile app for Android and iOS smartphones that keeps users up to date when they’re on the road. 

The software is entirely functioning, and if you love trading on your phone, you’ll appreciate it. The app has over 100K downloads and a 4.6 average rating in the app store.

What are CoinDCX’s transaction fees and transactional limits?

Deposits of fiat money, such as INR, are free of charge. However, the deposit amount is limited to INR 10,000 for non-KYC customers. Click here for additional information about the deposit on CoinDCX review .

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The cost for withdrawing bitcoins varies based on the quantity and kind of cryptocurrency. Click here for additional information on the withdrawal charge on CoinDCX review.

The trading charge is also changeable and is determined by the exchange’s club level assignment. Click here for additional information on the trading charge on CoinDCX review.

CoinDCX Review – My Final verdict

    CoinDCX, in my opinion, is exceptionally well-equipped with all of the critical functions.


    The user adoption of exchange, on the other hand, is still pending. Furthermore, the conversation can work around the numerous constraints I described before.

    Nonetheless, as crypto usage grows in India and the government defines the legislative structure of currencies (hopefully in favor of the business) in the future, CoinDCX review has a significant opportunity for development in the coming years. Moreover, the core team has already appeared in the media and may effectively capture the general public’s attention, significantly aiding the exchange! So That’s all from my side about the Coindcx review! Okay, so what you are waiting for? Signup yourself through CoinDCX App now and Start Earning Bitcoins!

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    Bitcoin

    4 Best WazirX Alternatives & Competitors for The Indian 🇮🇳 Crypto Users

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    4 Best Wazirx Alternatives

    Hi everyone, What’s up! Hope you guys are doing fine.

    In this article ( 4 Best WazirX Alternatives & Competitors For The Indian 🇮🇳 Crypto Users ), I will talk about the best Cryptocurrency Exchanges in India to invest in Bitcoin, Ethereum, and any other cryptocurrency of your choice. I’ll compare the four leading cryptocurrency apps in India – Zebpay, Coinswitch Kuber, Binance, and CoinDCX; and I’ll discuss all the factors you need to consider before selecting any of the platforms. So, if you want to invest in Cryptocurrency and are confused on which platform you should start investing, then make sure to go through up and down, grasping all factors I discuss here today on the best Wazirx alternatives. 

    In my previous blog post, I discussed What is Cryptocurrency, The History of Bitcoin & Blockchain technology, and Whether or not you should invest in Bitcoin. So make sure you go and look into it if you are a total newbie in this field. 

    Let’s start with the most common Cryptocurrency Exchange in India & the best WazirX alternatives, which can beat WazirX (The most popular Indian exchange ) performance, security, fees structure, support, and much more! 

    1) CoinDCX:

    4 Best Wazirx Alternatives &Amp; Competitors
    4 Best WazirX Alternatives

    CoinDCX is widely best wazirx alternatives regarded as the most flexible crypto asset trading app in the country. Let’s talk about the leading cryptocurrency platform in India, CoinDCX. CoinDCX is one of the largest and the simplest Indian Cryptocurrency Exchanges, which draws liquidity from other exchanges, including Binance. It enables you to buy and sell in over 200 different international trade currencies. Additionally, the entire setup process has been streamlined by using a one-time password (OTP) given to your registered cellphone number and email address.

    By accessing the app’s Settings section, you may learn a great deal about investing in cryptocurrencies and how they function in the virtual world. CoinDCX charges a 0.1 percent maker and taker fee and offers a free minimum withdrawal limit of Rs 1,000. Also, To facilitate cryptocurrency trading, this cryptocurrency exchange program supports just INR. The account may be financed using NEFT, IMPS, Wire transfer, UPI, or simply a simple bank transfer.

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    CoinDCX has a robust set of security protections, which is a plus. However, to begin, users must authenticate the app by verifying their identity using Google. Because otherwise, you will be unable to trade using the app. Additionally, you will need to generate a withdrawal password that must be authenticated for each withdrawal. For more information on CoinDCX Exchange, we have made a sole article that explains every feature, advantage, and disadvantage in 7 minutes of reading time! Don’t forget to grab this article ( CoinDCX review )

    2) ZebPay

    4 Best Wazirx Alternatives &Amp; Competitors

    You may be familiar with Zebpay, another bitcoin exchange program. It is one of the earliest available cryptocurrency trading applications. To begin trading, you may sign up and complete your KYC using your cell phone. Additionally, the site supports refer-and-earn. Therefore, if you can convince individuals to join Zebpay by marketing the concept of cryptocurrency trading, you will earn 50% of the trading fees earned by your contacts for a year. UPI requires a minimum deposit of Rs 100, whereas other means of payment require a minimum deposit of Rs 1,000.

    Zebpay imposes fees across the board. It charges 0.0001 BTC each month for the subscription. According to the app, you may minimize expenses by investing actively in it. Zebpay charges a maker fee of 0.15 percent and a taker fee of 0.25 percent. However, if you trade (buy and sell) on the same day, the trading cost is reduced to 0.10 percent. Zebpay accepts deposits of any cryptocurrency for free. However, there is a fee of Rs 15 for UPI deposits and 1.77 percent for net banking deposits. The service charges Rs 10 for all withdrawals; Bitcoin withdrawals are charged at 0.0005 BTC.

    In my opinion, Zebpay and CoinDCX stand on the same level if we talk about and compare them regarding the 4 Best WazirX Alternatives!

    3) Binance

    4 Best Wazirx Alternatives &Amp; Competitors

    Coming to the next leading in our list of 4 Best WazirX Alternatives, Binance. Binance is the world’s largest cryptocurrency exchange, with over 240 coins supported. Moreover, it offers one of the most competitive rates around!

    Binance also has its coin, called Binance Coin, which can be used to trade in cryptocurrencies and pay for fees on Binance. Binance Coin is one of the most popular cryptocurrencies of today’s date. It offers its users Spot Trading & Margin Trading facility and a Peer to Peer (P2P) trading service. With margin trading, users can trade with leverage of up to 10 times on some coins. It also allows trading in Futures and Derivatives. 

    Using Binance Savings, you can also earn a return on your idle funds, the same way you would have made interest from your Savings Bank Account. The trading fee on Binance is 0.1% for both maker and taker. The minimum withdrawal amount for Bitcoin is 0.00111BTC, and the withdrawal fee is 0.00057 BTC, which comes to 1500 rupees approximately.

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    4) Coinswitch Kuber

    4 Best Wazirx Alternatives &Amp; Competitors

    Now, let’s talk about Coinswitch Kuber! Our Last but not the last competitor on 4 Best WazirX Alternatives! Coinswitch Kuber works as a global aggregator for cryptocurrency exchanges. It supports over a hundred cryptocurrencies. The interface of Coinswitch is very easy to

    access, seamless and fast. It can be operated by both expert traders as well as people who are completely new to cryptocurrencies. The customer service of Coinswitch is also very supportive and responsive. Another benefit of using Coinswitch is that the trading fees are very economical. 

    Coinswitch charges no fees for deposits or withdrawals. Bitcoin withdrawals require a minimum of 0.001 BTC. The main issue that consumers appear to have with Coinswitch is that the prices of the currencies offered on the platform are constantly higher than on other cryptocurrency exchanges. The spread between the purchase and sell prices is also the largest on Coinswitch at the moment.

    My Verdict on 4 Best WazirX Alternatives:

    All exchanges are good at some point, where others are beaten in different performances and features! If you want some assistance with investing in Cryptocurrency and don’t mind sharing a part of your profits with experienced traders, you can go with WazirX. Also, the charges on WazirX are minimal. I would recommend using Binance only if you are a professional crypto trader. That is it for this video. I hope you guys found this article on ( 4 Best WazirX Alternatives & Competitors for The Indian 🇮🇳 Crypto Users ) useful. In addition, don’t forget $GARI Token: First-Ever Social Crypto Token In India 2021 to have in your read-list!

    I’ll see you guys in the next article only on CryptoCurrencySimple.com ; till then, KEEP CRUSHING KEEP TRADING!!!

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