A Detailed look into India’s famous Crypto Exchanges: CoinDCX Review

CoinDCX Review

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The world is growing unimaginably with the help of new technology via cryptocurrencies.  However, a newbie needs a platform for all the tradings regarding digital assets. For easing the process CoinDCX came across everyone to provide all the facilities. With lots of options, CoinDCX now became India’s most trusted investment app this year. Don’t worry if you do not know about this platform. Here is a detailed CoinDCX review for everyone looking to invest in cryptocurrencies in India.


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CoinDCX Overview

It is India’s most reputed and fast-growing cryptocurrency exchange. It is a Singapore-based company that recently set up its office in Mumbai to provide all facilities of trending cryptocurrencies to Indians.

On April 8, 2018, CoinDCX was co-founded by Sumit Gupta in Mumbai. Soon they launched their two popular apps named CoinDCX Pro and CoinDCX Go. CoinDCX Pro is for cryptocurrency exchange and CoinDCX Go is for cryptocurrency trading.

Polychain, Bain Capital Ventures, 100x Ventures, and other 7 investors raised 5 crores in three rounds to grow the popularity of CoinDCX in India.

Remembering the world’s internet security problems, they set up a highly secured, non-hackable blockchain network for providing many digital currencies like Bitcoin, Ripple, Dogecoin, and other altcoins.

Read: How Blockchain is helping people in Venezuela to Overcome Hyperinflation

Overview

Exchange NameCoinDCX
CEO NameSumit Gupta
HeadquarterSingapore, Mumbai
Company OwnerDCX Private Ltd.
Websitehttps://coindcx.com/
Mobile App facilityAvailable
Fiat CurrencyINR
Available Cryptocurrency/ Crypto-tokenMore than 250
Trading PairsMore than 400
Deposit MethodsUPI, IMPS, NEFT, Mobikwik Wallet
Trading Fees  0.04 – 0.06%
Deposit FeesNone
Withdrawal Fees20%
CoinDCX Founders

Key Features

This CoinDCX review discusses the important features of their app that most new and existing users should be familiar with.

#1 Friendly Interface

To attract newbies, CoinDCX designed a catchy website with lots of new features. The interface of websites and mobile apps is very contentful.

#2 High Security

In India, other cryptocurrency exchanges are facing problems due to security issues. Where CoinDCX invests a group of cybersecurity experts to ensure the customer’s hassle-free transaction. It is the world’s safest transaction platform since 2018.

#3 KYC Verification

To ensure security to their customers, CoinDCX does a quick KYC verification at the time of registering by verifying PAN details and address details.

#4 Multi-Platform

To provide everyone with digital assets, CoinDCX launched various platforms.

  • CoinDCX Web
  • CoinDCX Go
  • CoinDCX Pro
  • iOS Mobile Version
#5 Quick Transaction

CoinDCX allows its customers to do large-scale transactions within seconds at a very low cost. It helps them to collect a huge number of users.

#6 Zero Fee Policy

CoinDCX trading is a non-chargeable process. Users can buy, sell and hold cryptocurrency on the platform without any charge.

How to Open an Account on CoinDCX

#1 Sign Up on CoinDCX

Visit the official website of CoinDCX or download the mobile application from the play store or apple store. At the first interface, you can see the ‘Sign Up/Register’ option. Click on that, you will automatically be redirected to the registration page

#2 Fill up the Registration Form

You have to fill the form by inputting your name, surname, email id, phone number, referral code (optional). You also have to check the captcha box to ensure that you are not a robot.

#3 Verification of Mobile Number and Email Address

A One-time-password will be sent to your given mobile number and email address. You have to submit it correctly to complete the creating account process.

# 4 Verification of Bank Account

You have to fill in your bank account details to do deposits and withdrawals in the future.

  • You have to provide
  • Bank Holder Name
  • Bank account number
  • Confirm the account number again
  • IFSC code

After that, a new window will come that redirects you to the bank page for a small amount deposit to complete the bank account verification process.

#5 KYC Verification

This process is optional. But you have to complete the process because you can’t withdraw without full KYC verification.

The complete procedure of KYC verification:

  • Name as written on your National IDs (Passport, Aadhar Card, Driving Licence, etc.)
  • Date of birth
  • Address as per your ID
  • Photo of your ID
  • PAN number
  • A selfie of yourself at that time

CoinDCX has a strong IT team that verifies all the details within a few hours.

Two-step Verification

To give more security to your account, Google Authenticator is recommended as the second step of verification.

CoinDCX Investing Guide, Source: CoinDCX Website

How to Deposit Money on CoinDCX

Follow the simple steps to successfully deposit money on CoinDCX

  • Visit your account
  • Click on ‘Add Funds’
  • Enter the amount in INR you want to deposit
  • Check the ‘I confirm the transaction’ box
  • Select payment method (Fast Bank Transfer or Mobikwik Wallet or UPI)
  • Press the continue button to ensure the transaction

How to Buy Cryptocurrencies on CoinDCX

  • Click on the ‘Prices’ option
  • All available currencies will be shown with their real-time value and last 24 hours status
  • Tap on the desired cryptocurrency that you want to buy
  • Select the ‘Buy’ option
  • Enter the value of purchasing in form of INR or BTC
  • Click the ‘Buy BTC’ option for a successful transaction

You can visit my order section to check your transaction history regarding buying and selling cryptocurrencies.

Supported Cryptocurrencies

More than 250 cryptocurrencies are available on CoinDCX. Some popular ones are:

Tron (TXX)Reef (REEF)Polkadot (DOT)FTX Token (FTT)
Ripple (XRP)Chiliz (CHZ)Aave (AAVE)Ethereum Classic (ETC)
Dogecoin (DOGE)Compound (COMP)Holo (HOT)Chainlink (LINK)
Bitcoin (BTC)Ethereum (ETH)Theta Fuel (TFUEL)Bitcoin Cash (BCH)
Dash (DASH)Cardano (ADA)Fantom (FTM)Elrond Gold (EGLD)
Enjin (ENJ)SushiSwap (SUSHI)Litecoin (LTC)Matic Network (MATIC)

CoinDCX allows INR-crypto and crypto-crypto buying options. 

Accepted Payment Methods
  • UPI
  • NEFT/ RTGS/ IMPS
  • Bank Transfer
  • Mobikwik Wallet
How to Withdraw from CoinDCX

The withdrawal process is very much easier in CoinDCX

  • Go to account option
  • Click ‘Add Fund’ Section
  • Click on the ‘Withdraw’ option
  • Enter the amount
  • Select the bank account
  • Click ‘Withdraw Now’

But there is some limitation of withdrawing in CoinDCX according to the KYC verification status of the user.

KYC verified users can withdraw a minimum of 500 INR to a maximum of 500000 INR per day.

Non-KYC users can withdraw a minimum of 500 INR to a maximum of 10000 INR per day.

You can also withdraw in the form of cryptocurrency.

KYC verified users can withdraw unlimited BTC but non-KYC users can withdraw only 4 BTC per day.

Various Fees on CoinDCX

CoinDCX charges almost zero amount to its users on various fees.

Trading Fees

0.04-0.06% of the trading amount is charged by CoinDCX.

Deposit Fees
  • UPI – free
  • IMPS/ NEFT- free
  • Mobikwik Wallet – 1.5%+ GST
Withdrawal Fees

Free trading and deposit charges are adjusted with withdrawal fees. 0.0005 BTC is normally charged per transaction. 

CoinDCX Security

The most trustable and secured platform of India, as well as the World in the Cryptocurrency market, is CoinDCX.  Their KYC verification process and two-step authentication process mainly protect users from fraud issues. A highly skilled security team keeps a look always for hacking-free transaction environments. At this moment this is the best secured platform.

COINDCX Security, Source: CoinDCX Website

CoinDCX Sending and Receiving Program

CoinDCX also supports sending and receiving cryptocurrency from other users on their platform. If you hold some cryptocurrency, you can send it to others through QR code scanning or entering a public address in my investment section on the application.

CoinDCX Lending

With an interest of 16.25%, investors can lend currencies to borrowers for 7 days. This is a premium service available for high-value holding users.

CoinDCX Stacking

Through the stacking program, users can earn rewards from CoinDCX. In this process, users have to lock their currencies for a few days to earn some extra values. It is somehow comparable with Crypto mining.

Conclusion

CoinDCX is one of the most important crypto exchanges in India with almost $5 million trading volume on a daily basis. This CoinDCX review has talked about the key features, account opening process, transacting on the exchange, trading fees, etc. in detail and should go a long way in guiding new investors with investing with them.

CoinDCX Review

BestBrokerIndia

Customer Service
User Interface
Fees
Availability of Cryptocurrencies
Security
Deposit Methods

Overall Score

4.3

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