CoinDCX is a common term which one must have come across while trading in cryptocurrencies. Basically it is a cryptocurrency exchange base with around 200 various forms of cryptocurrencies and is a Singapore based company, being active since 2018. It’s office in India is in Mumbai.
Where the Unique Selling Point of CoinDCX is the fact they tend to offer various cryptos as Bitcoin, Ethereum and many other altcoins, which thereby means that various altcoin traders could effectively use this base and would not rome about anywhere else. However it is costly but large amount of crypto means that there could be more scam coins, cause latest launched altcoin would not have the same criteria.
Latest top investors for CoinDCX funding involve Polychain, Ventures and 100x Ventures. Apart from these three major ones, CoinDCX is holding ten investors who have raised around $5.5M in three rounds.
Table of Contents
Sum up On CoinDCX
CoinDCX is safest base for trading of cryptocurrencies with appropriate security features to attain both user’s in-depth analysis of transactions and account. More than 200 varieties of cryptos are supported by the same. Also features as rapid buy and sell, trading limitless, user-friendly experience tends to make CoinDCX as most preferred base for various of its users. Alongwith these, it also has low trading and withdrawal fees, sufficient for attracting its users and has 24 hours support of its customers.
Creation Of Account On CoinDCX
- For creation of an account one has to visit the web page of CoinDCX and afterwards click on register for initialising the signup process. Register button would appear in the top-right corner as shown below:
- For signing up, the prospective customer has to fill in the details as name, email address, phone number and others and once you are done with filling the required details, click on the signup option.
- Phone Number and Email verification is the next step in the procedure and for Email verification, you should go through your email inbox for verification link and as normal for verification of phone number, you are going to receive an OTP.
- Verification of Bank Account is the next step in the row and for the same, you will have to follow the following:
- Go to the profile section by pressing the profile icon which is given at the top right corner.
- Now you have to press the Verify Bank Account and it is going to redirect you to a new screen.
- Fill in all the bank details on a new screen.
- For confirming the bank details, yo are going to receive a deposit and withdrawal of little amount from your account for the process of verification.
- After the bank account details verification, you are going to receive a 12 digit UTR number, which you are going to enter thereafter.
- The very next step after this, is the optional one of KYC Verification. As we know that the CoinDCX login process is easy, so you just have to login into your account for initiating the verification process. Where the process is hassle-free, in case you are holding all the documents which are essential KYC. For completion of the process, you are required to upload the images of Identity Card and PAN Card.
Withdrawal Of CoinDCX
The minimum withdrawal limit of CoinDCX in INR could be differentiated on the basis of user made KYC Verification and same is the case with maximum INR limit of withdrawal.
Accounts with KYC Verification: The maximum value is of 5,00000 per day, where minimum value is of Rs. 500 and one could easily withdraw the amount manually, in case it is apart from the reach of automated limits.
Accounts without KYC Verification: Minimum value is Rs. 500 which is same as the users having complete KYC. But as them, the maximum value is only to 10,000 as the Max. trade value is for INR 10,000 and also one could easily withdraw manually, if in case the transaction is beyond the set limits.
CoinDCX Crypto Limit Withdrawal
There is no withdrawal limit for the users with complete KYC verification, similarly the accounts which are not having KYC verification could withdraw in limit as 4 BTC per day.
Trading And Withdrawal Fees Of CoinDCX
These are both sensitive platforms for either attaining new users or even losing the earlier ones.
The trading fees of CoinDCX: The exchange charges specific amount, when any order is placed and that is known as trading fee. Actually it is the appropriate amount of your order. Where CoinDCX attempts to charge 0.04% and 0.06% on the makers and takers accordingly. Where takers are those who take an order which is already there in the order book and on the other hand makers are those who add trade to order books. Their fee is also low and is below the average of industry, which provide users another simple aspect for preferring CoinDCX over other bases as the present industry average is 0.10% -0.15%.
Withdrawal Fees Of CoinDCX: The lowered fee is recovered by the high withdrawal fees by CoinDCX and that charges about 0.001 BTC per BTC withdrawal. Such an withdrawal amount is more when it is compared with the average charges of the industry, the amount which is then withdrawn is around 0.0006 BTC per BTC withdrawal. In case, it is considered in percentage then the CoinDCX withdrawal fee would be 60% ahead of the industry average.
Deposit Of CoinDCX: The users can with ease deposit the INR on the spot, where in case of cryptocurrencies, it takes half an hour. Also the withdrawal of INR considers upto 6 hours for depositing in your bank account,whereas the withdrawal of cryptocurrencies considers few minutes of reaching the wallet.
Security Of CoinDCX
It’s the safest trading base in India and round the globe, named as CoinDCX. This base tends to give priority to it’s users secret information and doesn’t share KYC details with any of the third party. Actually, it constitutes of industry-leading security rules which are on regular basis,maintained and are also checked for being treated with any sort of violations. It’s two-factor authentication, give its users account with add on level of security. Not only this, every withdrawal of cryptocurrency is going to cross multiple verification processes, even before they are being processed inorder to be aware of any fraud withdrawal.
Lending Of CoinDCX
Crypto lending is alternate way of investment,where when seen in cryptocurrency terms, lending is “investors lending cryptocurrencies to their borrowers with interest rate. The lending services of CoinDCX are easy and secure. One can easily lend with just one click for atleast 7 days, having maximum annual interest rate as 16.25%
Staking Of CoinDCX
Cryptocurrencies are locked in such an activity as staking, for users to receive rewards and comparison could be easily made with mining. The CoinDCX base tends to provide staking services to its end users for earning fast with investing small amounts. Inorder to go with staking, one requires to register, hold a fixed minimal balance of the supported cryptocurrencies and would thereby be acceptable for earning rewards.
Review On CoinDCX
As per CoinDCX, providing best services to their users is solution to a business for rising and performing good in the market. So they retain exceptional customer services with 24 hours of support. Cause of such a 24-hour support, the users from various countries don’t require to think about the time zone. Alongwith this, the services as onboarding, ticketing and INR management have the 24-hour support assistance. Therefore, the present time period of chatting time is from 6:00 AM to 11:00 PM.
Due to such options, the users could solve any sort of problems, even without waiting for hours for another day. Also the CoinDCX customer care is not there on their site, but for getting the customer support, you could mail them at support@coindcx.com.
Benefits and Flaws of CoinDCX
For attaining more clear knowledge on CoinDCX, let’s get into the detail of its flaws and gains:
Gains from CoinDcx:
- Large amount of coins readily available for trading.
- Across wide range of trading pairs, it is having appropriate liquidity.
- As the trading charges are nominal, the minimum amount for trading is also nominal.
- Buying and selling is made easy with single tap.
- It also holds margin trading for about six times the leverage on various assets.
- It also is ready in accepting payments via UPI or IMPS.
- Live customers are there for replying to the queries instantly.
- Also the trading which is based on near future, is about 20 times the leverage.
Flaws from CoinDCX:
- The INR is only FIAT currency and there is no other choice provided.
- Verification is required by the client of CoinDCX, in concern with high FIAT values.
Final Review On COINDCX
Questions which are asked most often in concern with CoinDCX:
*Is CoinDCX Safe?
Each fund which is invested in cryptocurrency by way of CoinDCX is secure and the base assure its users that it would support each moment of their investment and would ensure that they are not subject to face any issue.
How to Withdraw Money From CoinDCX ?
You should at first login into your CoinDCX account and then opt for the funds section from the DCX trade page and thereafter click on the INR Wallet. Thereafter enter the amount which is required by you for withdrawal and then you have to go through the verification process for removal of the amount.
Is KYC essential for CoinDCX?
It’s clear that KYC of CoinDCX is not essential to be completed as your account would be limited to a sum up of INR 10,000 deposits and withdrawals or even 4BTC cryptocurrencies per day for both withdrawal and deposits.
Is there any app concerning CoinDCX?
Yes the app could be downloaded from the play store from Android devices as CoinDCX app.
Is there any compulsion on Opening of an account on CoinDCX?
PAN Card is not required for opening an account on CoinDCX. Still you are going to require it for verification for KYC.
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