CoinSwitch: India's leading crypto exchange
CoinSwitch is a cryptocurrency exchange aggregator launched in 2017 that has made a name for itself, especially in the Indian digital asset market. However, its unique ability to help customers find the best crypto conversion rates across multiple trading platforms has earned it a significant global user base.
Pros and Cons
There are several benefits to using CoinSwitch for exchange aggregation. But there are also demerits. Here's a breakdown of some of the site's pros and cons.
The platform supports about 400 coins and actively trades at least 100.
Clients can benefit from a highly rewarding Bitcoin referral program.
It is unavailable in the US and in US territories like American Samoa, Virgin Islands, St. Thomas, John, Croix, Puerto Rico, Guam, and North Marina Island. Traders from North Korea, Pakistan, Syria, Afghanistan, Iran, and Cuba can also not access the site.
The site does not support fiat deposits.
Besides CoinSwitch’s pros, which make the site quite popular, this aggregator has several other services that make it a preferred cryptocurrency trading site. Let's explore these services.
CoinSwitch serves as a payment service platform. Typically, users can pay invoices in one currency, and the receiving party can get them in a different currency.
Because the platform supports more than 100 cryptocurrencies, it is remarkably easy to swap these coins.
The payment feature manages conversions and calculates how much clients will save when they choose cryptocurrency over traditional payments. This makes it highly appealing for businesses because it saves time and money.
Crypto Rupee Index
The Crypto Rupee Index (CRE8) helps investors understand the Indian digital asset market. Its insights help predict market patterns and serve as a benchmark for cryptocurrency portfolios.
CRE8 analyzes factors like innovation and digital asset adoption in the Indian market. This provides a local indicator and reduces dependence on international indices that may not accurately portray the market.
Systematic Investment Plan
The Systematic Investment Plan (SIP) avoids Bitcoin volatility and price fluctuations for other cryptocurrencies. With this feature, users buy crypto at a fixed monthly price by setting the purchase date and the amount they're willing to spend on buying a token. The minimum acceptable amount is â‚¹100, or $12.11, while the maximum is â‚¹2,50,000, or roughly $3,027.
Supported payment methods
Payments made on this aggregator can come from various payment methods. Currently, the exchange supports NEFT, RTGS, and IMPS payments. These are all bank transfer payment methods, but the aggregator guarantees they are convenient.
Through these payment systems, customers can buy cryptocurrencies using USD, EUR, JPY, and RUB.
Transactions on this aggregator come with various limits. The exchange's lowest trade is $50, while the maximum is $10,000. There's also a $50,000 monthly cap on transactions.
To get an account, you simply need to sign in. However, users must complete a Know Your Customer (KYC) verification process to transact on the platform. Successful completion requires users to have the details listed below:
- PAN card.
- An Aadhaar, Voter ID, or Passport.
CoinSwitch's KYC process does not allow a driving license.
Security is a major consideration on CoinSwitch. The site prioritizes multi-level security and advanced encryption. It also adheres to global best practices for cryptocurrency trading.
CoinSwitch has a consistent customer support team. Users can send an email explaining the support they need or raise a ticket on the website. However, the platform has a 3.0 rating on TrustPilot, meaning there may be a few inconveniences depending on the nature of a customer's complaint.
CoinSwitch is a leading crypto exchange aggregator. It is a great platform for India-based traders but has features that global investors can benefit from.
Besides notifying users of the best rates in the market, the aggregator offers a handy payment method, a crypto rupee index, and a systematic investment plan.
Overall, the platform has a great user experience and is worth a shot. But do your research to understand whether it's your best choice.
Evans Karanja Ivanco
Evans Karanja is a content writer and scriptwriter with a focus on crypto, blockchain, and video gaming. He has worked with various startups in the past, helping them create engaging and high-quality content that captures the essence of their brand. Evans is also an avid crypto trader and investor, and he believes that blockchain will revolutionize many industries in the years to come. When he is not writing, find him playing video games or chasing waterfalls.