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.

Pros

• The platform supports about 400 coins and actively trades at least 100.

• Clients can benefit from a highly rewarding Bitcoin referral program.

• User-friendly interface.

Cons

• 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.

Services

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.

Payment Platform

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 ₹100, or $12.11, while the maximum is ₹2,50,000, 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.

Transaction limits

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.

KYC requirements

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

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.

Customer Support

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 conclusion

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.