Are you still puzzled about which crypto trading platform to choose? Don’t worry, this comparison article of WazirX vs CoinSwitch vs CoinDCX has got you all sorted as it will surely help you make a clear choice between the three of them.
|Fee Structure||Maker fee- 0.2%|
Taker fee- 0.2%
|Deposit/ withdrawal is free. |
Trading fee- 0-0.5%
|For trading in INR|
Maker fee- 0.2%
Taker fee- 0.2%
|Deposit Options||IMPS, Mobikwik, Bank Transfer||NEFT, Bank Transfer, and UPI.||Mobikwik, IMPS, and NEFT|
|Security||Most of your funds are in cold storage. 2FA and KYC are mandatory.||Blockchain intelligence tools, mandatory KYC for all users.||The platform offers 2FA, and you need to enter a withdrawal password for transferring funds.|
|Customer Support||Chat Support, and Submit Form Support.||Mail, FAQs, and Submit Form Support.||Email, Chat Support, and Telegram Channel.|
Table of Contents
- The three most popular crypto trading platforms of India are WazirX, Coinswitch, and CoinDCX.
- WazirX has the maximum number of traders, while Coinswitch and CoinDCX have many other commendable trading features.
- WazirX and Coinswitch provide their traders with beginner-friendly mobile applications; however, the CoinDCX mobile app lags at certain times.
- CoinDCX charges a minimal fee among WazirX and Coinswitch.
- WazirX cryoto exchange can easily be connected to Binance to transfer funds to Binance without any charges.
What is WazirX?
With the maximum number of users, WazirX is among the best Indian crypto exchange platforms. It also allows traders to make Peer-to-Peer crypto exchanges. In addition to this, Binance, which is the world’s biggest cryptocurrency exchange, has acquired the platform. Hence, you can now directly transfer your assets to Binance from your WazirX wallet without paying transaction fees. WazirX, with all the different features, has developed extensively.You can explore about the platform’s activities on their WazirX twitter account. To know more, read our WazirX review.
What is CoinSwitch?
CoinSwitch is an efficient, user-friendly, and secure platform for all traders in India. You can choose from 100+ cryptocurrencies like Ethereum, Bitcoin, Litecoin, Ripple, etc., at their best rates in this crypto trading platform. Additionally, there are a variety of payment gateways offered by them. Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari found the Coinswitch exchange platform in 2017. Furthermore, Coinswitch Kuber was launched in June 2020, an India-specific version, and it has more than 5 million users to date. To know more, read our Coinswitch review.
What is CoinDCX?
CoinDCX is a crypto exchange platform that has been active since 2018 and is a Singapore-based company. The platform was built to provide a user-friendly experience where customers can access a wide range of services backed by industry-leading security processes and insurance protection. In addition, CoinDCX provides the highest liquidity with the fastest onboarding process in the industry and is an ISO-certified company. To know more read our CoinDCX review.
Also Read: How to Withdraw from CoinDCX to Binance?
WazirX vs CoinSwitch vs CoinDCX: Features
- Withdrawals and deposits in WazirX are carried out in INR.
- WazirX exchange helps you buy and sell cryptos 24*7 very efficiently.
- The transactions made in this exchange platform are considered some of the fastest in India, summing up to one trade per minute.
- WazirX is a highly secured trading platform, and they are investing in regular security audits.
- The WazirX exchange platform is made available on the Web, Android and iOS.
- For investors trading in P2P, it provides zero transaction fees.
Also Read: How to buy Bitcoin on WazirX?
- Coinswitch Kuber offers their traders with best prices of the cryptocurrency to trade-in.
- The platform allows you to purchase and sell cryptocurrencies at the best market rates available with zero fees.
- You can start trading in cryptos with a small amount as low as Rs.100.
- There are 100+ cryptocurrencies to buy, sell, and trade-in with just one click.
- Instant withdrawals.
- Over one crore Indians have carried out Rs.1,00,000 crores in trades and have put faith in them.
- The platform offers various trading options like Spot trading, Future trading, and Margin trading.
- You can earn staking rewards by staking your cryptocurrencies on this exchange.
- The platform is specially designed for experienced and professional crypto traders.
- CoinDCX comes with an intuitive crypto dashboard that helps in tracking your crypto portfolio.
- The platform offers free deposits and withdrawal of crypto funds.
- The sign-up and the KYC process are pretty fast.
- The users get access to some of the leading crypto trading products by using a single crypto wallet.
Also Read: How to Buy Matic (Polygon) on CoinDCX?
WazirX vs CoinSwitch vs CoinDCX: Fee Structure
When compared to CoinDCX, WazirX charges high trading fees, but it is lower than CoinSwitch Kuber. On WazirX P2P, no is fees applicable. However, you have to pay a maker and a taker fee of 0.2% in spot trading. Apart from this, a transaction fee of INR 6.7 is charged on deposits through bank transfer. While making deposits through UPI, no fees are applicable. However, there is a deposit fee of 2% through Mobikwik.
There is neither a deposit fee nor a withdrawal fee in Coinswitch Kuber. In addition to this, for the first 100 days, there are no Coinswitch charges. After that, however, the platform charges a trading fee of 0% to 0.5% based on the selected exchange once this period ends.
CoinDCX takers and makers fee is 0.04% and 0.06%, respectively for Binance Spot trading. However, the INR trading fees are 0.2% Maker and Taker fee, each. Thus, the trading fee is below the industry average and relatively low, giving users another reason to prefer it over other platforms.
Compared to the low trading fee, CoinDCX charges a high withdrawal amount that is 0.001 BTC per BTC withdrawal. Thus, the withdrawal fee is apropos 60% above the industry average. Furthermore, deposits can take up to 6 hours to be processed and reflected on the CoinDCX wallet using the standard payment method.
WazirX vs Coinswitch vs CoinDCX: Security
Is WazirX safe?
WazirX is a safe platform for all traders as it stores almost 95% of your funds in offline cold storage, which further keeps it safe from any hacking attempts. Apart from this, you should always enable two-factor authentication and use the official website or mobile application. Never using public wifi and sharing your account details with anyone are also the things you should keep in mind while accessing WazirX.
Also Read: How to Deposit Money in WazirX?
Is CoinSwitch safe?
CoinSwitch Kuber is one of the most reputed and stable crypto exchanges, which further ensures to keep the user’s assets secure. To maintain transparency, they make sure that their users complete their KYC. Moreover, Coinswitch services are SOC2 Type II certified and are ISO 27001 compliant.
Is CoinDCX safe?
Across the globe, CoinDCX is the most secure crypto trading platform in India. 95% of the funds are stored in multi-sig cold wallets. Moreover, all the data presented in the exchange is encrypted to secure your passwords and personal data. The platform does not share the KYC details with any third party as they give utmost priority to their user’s private information. In addition to this, Two-factor authentication adds an extra level of security to the accounts of users.
Also Read: How to buy GRT on CoinDCX?
WazirX vs Coinswitch vs CoinDCX: Mobile Application
Mobile applications and the mobile phone plays an integral part in crypto trading today. You can quickly transfer funds, trade, and also analyze the market using a mobile application.
Like WazirX’s official website, its mobile application has a simple interface and all the elements as it does not want to compromise with its features. These features are WazirX P2P, Spot trading, etc. Unfortunately, WazirX frequently changes its deposits methods and faces problems in INR deposits. However, you can make use of the WazirX app to deposit funds using UPI. It is available on both Android and iOS devices.
This crypto trading exchange aims at making a remote process and is entirely centered on mobile users. Unfortunately, the Coinswitch app is only offered to its traders, and no desktop version is available. Available on both Android and iOS devices.
CoinDCX Go is the mobile application of CoinDCX and is available only for mobile users. You can instantly buy crypto assets by linking your bank account. However, without any KYC verification, there is a monthly limit on the INR deposit. Available on both Android and iOS devices.
WazirX vs Coinswitch vs CoinDCX: Customer Support
Customer satisfaction is an integral part of customer support on any crypto trading platform. You as a user have to face many problems if the customer support is neglective.
WazirX support team can be reached out by simply writing a request. Also, you need to attach all the necessary documents along with it. As soon as the WazirX team receives the email, they will reach out to you at the earliest.
For users to clarify their doubts, CoinSwitch Kuber customer support has a brief and dedicated FAQ section. For traders who still have queries can even raise support tickets. There live chat option is also available for you from 7 A.M. to 10 P.M. you can also email them at [email protected] to get in touch with the support team.
CoinDCX offers 24 hours support through email. Users from various countries do not have to worry about the time zone because of the 24-hour support. However, chat support, and telegram channel timings are from 6 A.M. to 11 P.M. Furthermore, for customer support, you can mail them at [email protected] as the CoinDCX customer care number is not available on the site.
Also Read: Bitbns FIP: Earn Passive Income in India
WazirX vs Coinswitch vs CoinDCX: Referral Program
As soon as you join WazirX trading platform, you get your unique tracking link for referrals. After that, you earn for customers who sign up through this link. You can either share this link via Twitter, Telegram, email, or any other way you want. The more you will promote, the more you will earn, i.e., on every friend’s trading fees, you earn 50% commission in WRX.
CoinSwitch referral program gives you a chance to earn BTC with 50 INR on every successful referral. Every user that is registered is eligible to win this reward.
Through the CoinDCX referral program, traders get a chance to earn Rs. 100 ETH for each friend when they buy their first crypto on CoinDCX and complete their KYC. You only need to share the CoinDCX referral code with your friend and let them download the app with your link and create an account. After that, your friend also gets Rs. 100 ETH, too, for that referral.
Also Read: How to buy Shiba (SHIB) Coin on CoinDCX?
WazirX vs CoinSwitch vs CoinDCX: Pros and Cons
User-friendly interface. Affiliated with Binance.
Many options are available to make deposits.
|Pros: CoinSwitch Kuber website has user-friendly and intuitive interface.|
No deposit and withdrawal fees.
The KYC process is quick and short.
No transaction limit.
A wide range of coins is available.
You can purchase and sell instantly with just one click.
Customer support answers query immediately.
High liquidity is not provided by them.
Crypto lending feature is not available.
High withdrawal fee.
Market prices are a bit inaccurate.
Available only for Indian residents.
The mobile application cannot be used without KYC.
Debit and credit cards are not supported.
Fiat deposits are not allowed.
The only fiat currency supported is INR.
For higher fiat values, you will need verification.
CoinDCX customer support is poor.
The CoinDCX mobile application lags in certain instances.
WazirX vs CoinSwitch vs CoinDCX: Conclusion
WaxirX, CoinSwitch, and CoinDCX are some of the most popular crypto trading exchanges in India. In contrast, WazirX is beginner-friendly; however, it charges a relatively high fee than CoinDCX, but it is still less than CoinSwitch. On the other hand, CoinDCX is among those crypto trading platforms that charge a meager trading fee, which might be a better option. Talking about CoinSwitch, there is no deposit and withdrawal fee on the platform.
However, WazirX might win the race here if it is a bit ahead of others in every term as you can also convert your INR to USDT by depositing them on exchange. After that, you can create an account on Binance and connect both accounts. This will further allow you to transfer funds without any charges to your Binance account.
Frequently Asked Questions
Where is CoinSwitch Kuber located?
CoinSwitch Kuber is located in Bangalore, India, and was founded in 2017. The platform is stable and has a vast user base.
Is WazirX legal in India?
Yes, WazirX is legal in India. Also, the platform is among the most trusted for the exchange of cryptocurrencies.
Is KYC necessary in CoinDCX?
CoinDCX KYC is not a necessary task to do. However, your account will still be limited to withdrawals and deposits of a total INR 10,000 or deposits and withdrawals for 4 BTC cryptocurrencies per day.
How much time does it take for the withdrawal to reflect in the bank account?
Instant withdrawals are processed instantly. However, NEFT withdrawals during banking hours are normally settled within a couple of hours. It depends on which bank account you have an account with. It generally takes 72 hours for the funds to be credited.