CoinSwitch offers 250+ cryptocurrencies for Spot trading with a minimum purchase requirement of ₹100. The fees are variable based on monthly trading volume from 0.04% to 0.40%.
The exchange offers INR deposits and withdrawals through a partnership with Mobi Kwik and IDBI Bank.
CoinSwitch; An Introduction to the Company
CoinSwitch, founded in 2017, started with a simple yet ambitious goal: to make money equal for all.
What began as a small team has now blossomed into India's largest crypto app, boasting over 2 crore (20 million) users and a workforce of more than 500 employees.
The company's rise hasn't gone unnoticed, attracting investments from global heavyweights like a16z, Tiger Global, and Sequoia Capital India. CoinSwitch key features:
- Founders: Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni
- Headquarter: Bangalore, Karnataka, India
- Company Value in October 2021: $1.9B
- Licenses: Financial Intelligence Unit (FIU) of India and ISO certification
CoinSwitch Specifications
Formerly known as CoinSwitch Kuber, the crypto exchange is a product of PeepalCo. It offers more than 250 cryptocurrencies and 430 Futures contracts.
Exchange | CoinSwitch |
Launch Date | 2017 |
Levels | 9 levels |
Trading Fees | Spot Maker / Taker (0.4% / 0.4%) Futures Maker / Taker (0.02% / 0.05%) |
Restricted Countries | N/A |
Supported Coins | 250+ |
Futures Trading | Yes |
Minimum Deposit | ₹100 |
Deposit Methods | Crypto, Fiat |
Withdrawal Methods | Crypto, Fiat |
Maximum Leverage | 1:25 |
Minimum Trade Size | Variable based on the asset |
Security Factors | FIU registered, ISO certification, SOS 2 Type II custody |
Services | CoinSwitch Pro, API Trading, Systematic Investment Plans, SmartInvest, Ventures |
Customer Support Ways | Email, Help Center, Ticket |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | None |
CoinSwitch Advantages and Disadvantages
The company is the biggest crypto exchange in India and has processed more than ₹500B in trades since its inception. However, like any other online trading provider, it has weaknesses, too.
Pros | Cons |
User-friendly interface | Limited support channels |
Crypto Futures contracts | Higher than average fees (0.4% for spot trading) |
INR deposits and withdrawals | Limited range of cryptocurrencies (250+) |
ISO certified | No Crypto withdrawals |
Does CoinSwitch Offer User Levels?
The platform offers competitive fees for those who trade more through a tiered fee structure with 9 levels, including:
30D Trading Volume (INR) | Maker | Taker |
0 – 500K | 0.40% | 0.40% |
500K – 2M | 0.26% | 0.26% |
2M – 5M | 0.24% | 0.24% |
5M – 50M | 0.20% | 0.20% |
50M – 200M | 0.14% | 0.14% |
200M – 500M | 0.12% | 0.12% |
500M – 1B | 0.08% | 0.08% |
1B – 3B | 0.06% | 0.06% |
3B – 50B | 0.04% | 0.04% |
In this CoinSwitch review, we must mention that the exchange offers lower futures trading fees to higher user levels. However, the exact figures are not available.
CoinSwitch Fees and Commissions
The platform offers a trading volume-based fee structure for Futures and Spot trading. However, the default charges for these contracts are as follows:
Market | Maker | Taker |
Spot | 0.40% | 0.40% |
Futures | 0.02% | 0.05% |
Trading Assets
CoinSwitch Kuber offers a diverse range of 250+ crypto assets, catering to various investment preferences, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
- Binance Coin (BNB)
Does CoinSwitch Offer Crypto Futures Trading?
The ecosystem offers comprehensive crypto trading services, including Spot and Futures. It introduces the CoinSwitch Pro for crypto trading purposes with the following key features:
- Leverage options of up to 1:25
- Market, Limit, and Stop Limit orders
- 250+ coins
- 430+ leveraged contracts
- Access to India’s top exchanges for Arbitrage opportunities
Registration and Verification
Traders can easily open an account with the CoinSwitch exchange and trade cryptocurrencies. CoinSwitch registration:
#1 Visit the Exchange's Website
Search for CoinSwitch on your preferred browser. After entering the website, choose your preferred product (Spot or Futures) and click on “Login/Sign up”.
#2 Complete the Signup Form and Verify Your Phone Number
Now, provide a phone number, agree to the terms of service, and enter the OTP sent via SMS.
Note that the platform only accepts Indian phone numbers for registration.
#3 Verify Your Account
In this step, you must upload proof of identity (PAN Card) and proof of residence (Aadhaar, Voter ID, or Passport).
CoinSwitch Kuber App Download Links
India's leading cryptocurrency trading app is readily available for download on both major mobile platforms, including:
Traders can also use the CoinSwitch Pro web platform, which provides access to TradingView charts and rates from top Indian exchanges.
TradingFinder has developed a wide range of TradingView indicators that you can use for free.
CoinSwitch Exchange Safety and Security
The platform prioritizes the safety and security of user data and funds. This is evident in its approach to obtaining an FIU license and ISO/IEC 27001:2022 certification.
It also has implemented various security factors, including:
- SOC 2 Type II certified custodians
- 100% Proof of Reserves
- Cold storage of users’ funds
- 2-step verification
What Payment Methods are available?
The exchange has partnered with MobiKwik and IDBI Bank to offer fiat deposits.
While the platform supports INR transactions, it also allows deposits of 100+ Cryptocurrencies. Note that crypto withdrawals are not available at the time of writing this CoinSwitch review.
CoinSwitch User Satisfaction
Exploring the company’s ratings on reputable websites provides a clear view of its operation and quality of services.
While CoinSwitch claims to be the biggest Indian crypto exchange with a client-centric approach, the user reviews paint a poor picture.
1.5/5 based on 787 reviews | |
Reviews.io | 2.1/5 based on 37 ratings |
CoinSwitch Features
To attract new users and retain existing customers, CoinSwitch offers a range of services. CoinSwitch features:
Feature | Availability |
Staking | No |
Yield Farming | No |
Social Trading | No |
Liquidity Pool | No |
Gift Card | Yes |
CoinSwitch Kuber Support Channels
The support is one of the biggest weaknesses in this CoinSwitch review. The platform doesn’t provide a Live Chat feature or hotlines.
support@coinswitch.co | |
Ticket | Available on the official website |
Help Center | A comprehensive FAQ section |
Does CoinSwitch Offer Copy Trading or Growth Plans?
While the ecosystem doesn’t offer a dedicated crypto copy trading software, it features a comprehensive list of trading strategies for investors to choose from, allowing them to earn profits.
- Up to 80% in profits
- Minimum investment from ₹5,000
- 15% - 22% profit sharing
The company also offers a Systematic Investment Plan (SIP) that traders can use to automatically buy a predetermined amount of cryptocurrencies monthly to counter market volatility.
Restricted Countries on CoinSwitch Exchange
While the platform doesn’t provide a list of geo-restrictions on its website, it likely prohibits users from countries like Iran, North Korea, and Yemen from using its services.
CoinSwitch in Comparison with Other Exchanges
By reviewing the table below, traders can easily understand the advantages and disadvantages of choosing CoinSwitch over other cryptocurrency exchanges.
Parameters | CoinSwitch Exchange | |||
Number of Assets | 250+ | 400+ | 700+ | 10000+ |
Maximum Leverage | 1:25 | 1:125 | 1:200 | 1:125 |
Minimum Deposit | ₹100 | $1 | $1 | $15 |
Spot Maker Fee | 0.04% - 0.4% | 0.02% - 0.1% | From 0.02% | 0.10% |
Spot Taker Fee | 0.04% - 0.4% | 0.04% - 0.1% | From 0.02% | 0.10% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | Yes | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | No | Yes |
Staking | No | Yes | Yes | Yes |
Copy Trading | No | Yes | Yes | Yes |
Writer’s opinion and conclusion
CoinSwitch provides access to Crypto Spot and Futures trading with leverage options of up to 1:25.
The platform offers 430+ leveraged contracts with a maker / taker commission of 0.02% / 0.05%. While the CoinSwitch exchange has more than 20M users and a value of $1.9B, its TrustPilot score is 1.5.