Exchange
CoinDCX Review: All you needed to know! Is it safe? Legal in 2021?
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.
Table of Contents
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.
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
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.
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.
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.
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.
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
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
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 .
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
