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CoinDCX Crypto-Exchange Review

CoinDCX Crypto-Exchange Review

CoinDCX is an Indian crypto exchange platform registered in Singapore as Primestack Pte launched in April 2018, started by Neeraj Khandelwal and Sumit Gupta, intending to provide Indians with a simple, better, and highly secured crypto investment that allows them to diversify their portfolio for the long term. 

CoinDCX offers 100+ digital assets — Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many more. In addition, CoinDCX also offers new coins such as DOGE and SHIB.

CoinDCX has partnered with Binance — the global most robust crypto exchange platform, Huobi —cryptocurrency exchange based in Seychelles, and HitBTC — the most exceptional Bitcoin exchange company, offering Indians a truly world-class crypto exchange experience, allowing Indian users to experience world crypto trading under one roof.

CoinDCX also partnered with OKEX and BitMex for future exchange trading. In addition to this, CoinDCX is backed by globally top investors — Polychain Capital, Bain Capital Ventures, Coinbase Ventures, and Bitmex.

The cryptocurrencies market is one of the fragile investment options that demand to have a highly encrypted mechanism. Thus, CoinDCX ensures the highest security of their crypto investment by partnering with BitGo — a leading global company trusted by millions that offer highly secured digital asset safety by having USD 100 million insurance policy.

CoinDCX has an attractive interface, similar to stock trading, with an easy and secure deposit and withdrawal procedure. Users can start investing at as low as INR 100, track their multiple cryptocurrencies investments, and buy and sell digital assets quickly. 

CoinCDX offers a spot and trading margin of nearly 6X the leverage on various assets and futures trading almost 20X the leverage amount.

CoinCDX offers various other unique products that benefit the users to get more out of their investment by lending their cryptocurrencies for a minimum of seven days and a maximum of one year to earn interest up to 14.01% annually.

Currently, there are more than 6 million CoinDCX users in India. Which makes CoinDCX a highly trustable cryptocurrencies exchange in India.

Why choose CoinDCX Exchange as your Crypto Exchange partner?

  • CoinDCX offers 24/7 customer care services, ensuring users have a seamless experience. 
  • CoinDCX offers multiple services in addition to crypto exchanges such as Spot Trade, Lend, Convert, Insta, OTC, Stake, Margin Trade, Markets, Futures, and API Docs.
  • CoinDCX is India's first-ever crypto exchange platform that offers free learning modules on cryptocurrencies and blockchain technology in sign language for different able users on their learning portal DCX Learn. CoinDCX aims to introduce the safest crypto investment to all users in India.
  • CoinDCX is a user-friendly crypto exchange platform suitable for a beginner as well as expert traders.
  • CoinDCX offers a highly encrypted security experience where the users need to go through multiple verification processes before trading and at the time of withdrawal.
  • CoinDCX offers lower trading fees in comparison to other crypto exchange platforms in India.
  • The KYC process on Coin DCX is quick and takes a maximum of 10 mins to start trading on the platform. 
  • CoinDCX introduces a Telegram community where the mindful investors discuss trading, helping beginners to invest mindfully. 
  • CoinDCX mobile application works lightning fast and performs all major trading experiences on the go.
  • CoinDCX offers Defi (Decentralized Finance) applications that are built on the Ethereum blockchain. It allows the user to lend, stake, or borrow the cryptos, helping them to earn passive income on the cryptocurrencies instead of the money sitting idle in the wallet.
  • All the investment on CoinDCX is protected by the insurance policy of USD 100 million by BitGo — the world’s best and most trustable company for safeguarding digital assets.

Advantage & Disadvantage of CoinDCX Exchange

Advantages of CoinDCX Exchange
  •  CoinDCX doesn’t charge any fees for deposit and withdrawal funds.
  •  CoinDCX’s 95% funds are stored in multi-signature cold wallets.
  •  CoinDCX is backed up by world-class investors — Coinbase Ventures, Bain Capital Ventures, Polychain Capital, and BitMEX.
  •  Coin DCX has layers of securities while registering on the platform and while withdrawing amounts. It is proven to work against any possible online fraud. 
  •  CoinDCX has 11 trading pairs — INR / Crypto pair — Bitcoin (BTC), Tether (USDT), Binance Coin (BNB), Dai (DAI), USD Coin (USDC), Ethereum (ETH), Tron (TRX), Binance USD (BUSD), True USD (TUSD), and Ripple (XRP). 
  •  CoinDCX has an instant buy feature called “insta” that allows users to buy cryptocurrencies in a minimum of INR 10 and a maximum of INR 1,00,000 in one go.
  •  CoinDCX allows users without KYC to trade with a maximum deposit limit of INR 10,000 and a deposit/withdrawal limit in the Insta feature for INR 5000. The non-KYC feature is best for beginners who wish to try crypto investment.
  •  CoinDCX accepts deposits via NEFT, IMPS, RTGS, Mobile wallet Mobikwik — Net Banking, UPI, or debit card.
  •  CoinDCX supports 200 altcoins for trading.
  •  CoinCDX allows users to send and receive the cryptocurrency to other whitelisted addresses.
Limitations of CoinDCX Exchange
  •  CoinDCX only supports one fiat currency — INR (Indian Rupees).
  •  CoinDCX withdrawal fees are a little higher than other crypto exchanges.
  •  The KYC process on CoinDCX sometimes is longer than expected.
  •  While withdrawing the amount from CoinDCX, users need to go through multiple verifications, which sometimes takes a long time.
  •  The UPI payment method may not frequently be working.
  •  Mobikwik wallet charges a fee for depositing amounts via net banking or debit card, starting from 1% up to 1.5% + 18% GST. 
  •  The wait time can be longer for specialized support from customer care. 
  •  There is no P2P (peer-to-peer) trading.
  •  Sometimes during high user traffic, users might experience issues like not being able to log in, the amount is not reflected in the account, or not being able to purchase digital assets.
  •  The dark color screen look of the crypto trading market makes the entire look heavy.
  •  CoinDCX can be a little tricky for the beginner.

 

CoinDCX Key Details

Particulars Key Facts
Headquarters Mumbai, India
Active Since April 7, 2018
Founder Neeraj Khandelwal and Sumit Gupta
Native Token Liqueth (LQTH)
Listed Cryptocurrencies 100+
Trading Pairs 32
Supported Fiat Currencies INR (Indian Rupees)
Minimum Deposit 10 INR
Deposit Method NEFT, IMPS, RTGS, Mobikwik Mobile Wallet - UPI, Net Banking, and Debit Card | Wire Transfer- Yes, Credit Card- No
Derivatives Trading Available
Minimum Order Size 1
Trade Volume $ 25.6 M+
P2P Trade Volume NA
Trading Fees- SPOT 0.11% to 0.001% based on the 45-day cumulative trading volume.
Trading Fees - P2P NA
Trading Fees - Futures - OKEX & BitMEX OKEX: Maker Fees 0.020% | Taker 0.050%, BitMEX: Maker Fees 0.000% | Taker 0.075%
Account Opening/Membership Fees Free
Withdrawal Fees 0.0005 BTC minimum withdrawal limit - 0.0010 BTC
PC/Mobile Application iOS, Android, Windows
Customer Assistance Email and Live Chat
Referral Program Earn USDT 25 every time referring a new member. The new member needs to trade a minimum of 5 BTC in order to earn.
Rating — App Store 4.3 stars with over 24,000 plus reviews
Rating — Google play 4 stars with over 1,60,000 plus reviews
Mobile App Installation 5,000,000+
Supported Language English
Products on Website Spot Trade, Lend, Convert, Insta, OTC, Stake, Margin Trade, Markets, Futures, API Docs, DCX Learn
Social Media Presence Reddit, Twitter, Instagram, Telegram, Linkedin, and Facebook

How to Open a Crypto Trading Account on CoinDCX?

  • Visit the CoinDCX website or install CoinDCX apps on google play (Android) or the app store (iOS). (Note: It is easier to get the process done on the website first).
  • Sign up with your email id, which you want to link with your CoinDCX account.
  • Fill up your full name, the password you wish to set, mobile number, and referral code (optional).
  • Tick on “I am not a robot” and sign up.
  • To verify the mobile number — enter the OTP sent on your mobile number.
  • To verify the email address — enter the OTP sent on your email.
  • Verify your bank details by clicking on the top right corner of your profile
  • Click on “verify the bank account,” fill up the bank details.
  • To confirm the bank details, CoinDCX will send you a small amount for confirmation.
  • You need to enter the 12-digit UTR number which you have received after the bank account verification.

Though CoinCDX allows users to trade up to INR 10,000 without KYC, it is advisable to get the KYC done for the future seamless trading experience. It takes less than 5 minutes to get the KYC done.

  • To complete the KYC process, you need to upload a PAN card and Aadhar Card or Passport, or Voter ID (Currently, CoinDCX doesn’t accept a driving license as Identification proof)

Supported Crypto Currencies in CoinDCX

CoinDCX supports 100+ cryptocurrencies. Even though there are a plethora of digital assets, there are few cryptos like Bitcoin (BTC), Etherum (ETH), Binance Coin (BNB), Tether (USDT), and Solana (SOL) are the top 5 best cryptos to invest in currently.

Over 70 million traders trust cryptocurrency investment, world-class investors along with major financial institutes, and many more. Bitcoin has skyrocketed in the past few years, and in 2020 it has a top with 300% plus returns.

How to deposit money and withdraw money in CoinDCX exchange?

  • Go to the profile in the top right corner. Click on Deposit.
  • Add the amount you wish to add via NEFT, IMPS, RTGS, or via Mobikwik — Net Banking, Debit Card, or UPI. (Please note MobiKwik charges 1% up to 1.5% + 18% GST as they service fee for adding amount)
  • It takes a maximum of 30 minutes for the amount to get deposited in your CoinDCX wallet.
  • To withdraw the amount, click on “withdrawal.”
  • Add the amount you wish to withdraw.
  • Confirm your bank account and continue.
  • It will take up to 6 hours for the amount to deposit into your account.

Charges/Fees of CoinDCX exchange

SPOT Trading Fees

Withdrawal Fees

Item Minimum Order Size Fees
Taker Fees Up to 5 Depend upon club - 45d Trading Volume (BTC) 0.060% to 0.100%
Maker Fees Up to 5 Depend upon club - 45d Trading Volume (BTC) 0.040% to 0.100%
Future Trading Fees Up to 5 Exchange:- OKEX:Maker Fee: 0.020%, Taker fee: 0.050%, - BitMEX:Maker fee: 0.000%,Taker fee: 0.075%
INR Trading Fees Per database Exchange:- CoinCDX, Maker Fees: 0.200%, Taker Fees: 0.200%
Bitcoin - 0.0005 BTC (minimum withdrawal amount 0.0010 BTC)
Ethereum (ETH) - 0.0040 ETH (Minimum withdrawal 0.0060 ETH)
Litecoin (LTC) - 0.0050 LTC (minimum withdrawal 0.0200 LTC)
Ripple (XRP) - 0.2500 XRP (minimum withdrawal 15.0000 XRP)
Binance Coin (BNB) - 0.0050 BNB (minimum withdrawal 0.1000 BNB
Tether (USDT) - 10.0000 USDT (minimum withdrawal 12.0000 USDT
Minimum Deposit - Spot Trading: INR 100, Insta Trading: INR 10

Special Offer by CoinDCX

CoinCDX keeps coming up with promo offers to attract users. However, ensure that you do not fall for other parties' quick reward promo offers or discount coupons. Instead, only use the promo code proposed by CoinDCX and their partners. 

Currently, apart from the referral program that earns USDT 25 on every referral, CoinDCX offers an Ambassador Program, an exchange program that allows the creatives to become the voice of the crypto by introducing the cryptocurrency in the community. The user will get a chance to become:

  • An educator — that helps beginners understand the crypto market and how to invest safely.
  • A leader — that represents CoinDCX in events, as well as creating a learning program for others.
  • A content creator — helps to spread the message thru online channels.
  • A creative person — that allows expanding CoinDCX, and
  • An influencer — that will enable you to connect with a large community, stay active, and talk about crypto investments. 

The Ambassador Program allows the creator to get many benefits such as extra rewards (discussed only after enrollment), early access to new products and features, features on websites, and many more.

Reward Redemption — Win Bitcoin with INR 50 lakh every day

  • Valid only for the users who buy their first cryptocurrency after October 17th, 2021.
  • Every new user is eligible to redeem the Bitcoin reward with the first coupon they use.
  • The users who didn’t have any coupon can use FUTURE100 before buying their first cryptocurrency.
  • The users need to complete their KYC to be eligible for the reward.
  • The reward users receive will be in a locked period of 15 days.

CoinDCX Security Feature

CoinDCX offers world-class, highly encrypted security and is one of India's most secure crypto exchange platforms. However, the new user requires to upload completed KYC details to trade in high volume. 

While withdrawing, the user needs to go through multiple verifications. Thus no bot can access the account. 

While logging in and accessing the trading account, the user must unlock it via 2FA — two-factor authentication. 

95% of CoinDCX crypto amount is stored offline in cold wallets that are not connected to the internet. The rest of 5% is secured in a hot wallet. 

All the cryptos on CoinDCX are insured by BitGo, the world's leading company offering the top best highly secured digital asset safety.

CoinDCX does not share the user's KYC details with any third party. In addition, the company has the highest standards of security protocols that are regularly audited.

Product & Services of CoinDCX

Spot Trade

CoinDCX offers spot trading — a process of buying and selling crypto coins at a spot price and selling it quickly. Users don’t hold digital assets for a long time. The spot trading method allows the users to earn profits in small batches on multiple cryptocurrencies.

CoinDCX has partnered with Binance, Huobi, and HitBTC for spot trading. The maker and taker fees on Huobi and HitBTC are 0.200%, while in Binance, it depends upon 45 days of trading volume in BTC — Maker fee 0.100% to 0.040% and Taker fee 0.100% to 0.060%.

Margin Trade

Margin trading is one of the higher-risk types of trading. The users borrowed the amount from the broker to invest in crypto, and the user can make more enormous profits if the trade goes well; however, the potential loss, if the trade does go well, is also greater. Margin trade allows the users to leverage a large sum of capital. 

CoinDCX has partnered with Binance, Huobi, and HitBTC for margin trading and allows margin trading on over 250+ cryptocurrencies, including Bitcoin, with up to ten times leverage, which helps you earn more return.

Futures

Like stock markets F&O trading, futures allow the user to get an agreement to buy or sell the digital asset for a fixed price later. In addition, CoinDCX has partnered with OKEX and BitMex exchange for offering users a world-class future trading experience with up to 20X leverage.

The maker fee for OKEX is 0.020%, and the taker fee is 0.050% per trade. While the maker fee for BitMEX is 0.000%.

Lend — Earn up to 14.01% interest annually on cryptocurrencies

Along with the trading, CoinDCX supports a secure way to earn interest in your cryptocurrencies. The minimum lending duration is seven days, and the maximum is one year with the option of auto-renewal. Users can earn up to 14.01% interest annually.

Currently, CoinDCX offers lending on 12 cryptocurrencies only — Bitcoin (BTC), Binance Coin (BNB), Ripple (XRP), Ethereum (ETH), True USD (TUSD), Tron (TRX), BitTorrent (BTT), Litecoin (LTC), Neo (NEO), USD Coin (USDC), Tether (USDT), and Polkadot (DOT). However, each cryptocurrency offers different interests annually.

Convert 

CoinCDX introduces the convert feature, helping users calculate the conversion between the cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tether, and many more. For instance how much 1 BTC equals 56294.460 USDT / 1 USDT equals 0.00001776 BTC. It helps in swapping cryptocurrencies.

Insta 

CoinDCX Pro Insta features allow the user to trade in cryptocurrencies instantly. A user-friendly crypto exchange platform that enables the users to buy the crypto as low as INR 10, instant deposit, and withdrawal at zero transaction fees. The users can deposit the amount via UPI or IMPS.

OTC — Over-the-counter

Though OTC — Over The Counter aims to help users trade in a crypto exchange that is not available on the market, an OTC desk acts as a middle man that connects the seller and the buyer directly. In addition to this, CoinDCX has added a feature in OTC to help the users to execute bulk Bitcoin orders and other digital assets without worrying about the vitality rate.

Stake 

CoinDCX offers crypto staking that involves locking up a portion of the cryptocurrency for some period of time to contribute to a blockchain network, and in return, the stake (users) earn a reward.

CoinDCX launched Liqueth (LQTH) tokens backed by Ethereum (ETH). As the company supports the Ethereum (ETH) 2.0 upgrade, it contributes to offering the users an Ethereum (ETH) stake with a minimum of 0.1 Ethereum (ETH) in their CoinDCX Pro wallet. The interest will be 6–20% APY (annual percentage yield) based on Liqueth (LQTH) they hold.

Markets

CoinDCX introduced markets where the users can buy or sell the cryptocurrencies immediately at the best available rates with 11 pairing — Indian Rupees (INR), Tron (TRX), Ethereum (ETH), Tether (USDT), Bitcoin (BTC), Binance Coin (BNB), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), True USD (TUSD), Ripple (XRP). Moreover, the market order is executed in real-time, and the users are allowed to do spot trade or margin trade.

API Docs

Whether you want to build a crypto trading bot, leverage blockchain technology leveraging other user's real-time crypto, conduct research and teach others about the cryptocurrencies, power your project with the CoinDCX API (Application Programming Interface). CoinDCX offers a great platform that will benefit users in the future.

DCX Learn — Cryptocurrency and blockchain courses

CoinDCX offers a DCXlearn platform, a free course that helps users understand blockchain technology and cryptocurrency in depth. Some top best industry experts prepare the lessons. In addition, CoinDCX is India’s first crypto exchange platform that offers free learning modules on cryptocurrencies and blockchain technology in sign language for different able users. The sign-language experts cover all the essential trading details, ensuring that different able people can benefit from crypto trading.

Conclusion

CoinDCX is one of India's highly trusted and safest crypto exchange platforms, with around 24 hours trading volume of USD 33.87 million. In addition, CoinDCX has partnered with the global best companies Coinbase Ventures, Bain Capital Ventures, BitMEX, and Polychain Capital.

CoinDCX offers engaging crypto trading for all users, ensuring blockchain technology and cryptocurrency helps people shape their financial freedom. However, the beginner should learn the basics about how cryptocurrencies trade and perform the trading under a financial expert. In addition to that, it is recommended not to perform trading solely based on random references or news or social media random memes.

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