The CoinDCX exchange is a prominent player, offering a reliable and secure platform for users to buy, sell, and trade digital assets. CoinCDX founders are Sumit Gupta and Neeraj Khandelwal, both graduates of the Indian Institute of Technology. The CoinDCX app aims to meet the increasing demand for crypto trading in India. In this comprehensive CoinDCX review, we will explore its features, benefits, and drawbacks.
Throughout this CoinDCX exchange review, we will delve into various aspects of the platform. We will begin with an introduction to the CoinDCX founders and the vision behind the platform. We’ll discuss the range of trading features offered, including spot, margin, and futures trading, and provide a CoinDCX Pro review. Additionally, we’ll examine CoinDCX’s security measures, customer support, fee structure, and geographic support. Therefore, by the end of this CoinDCX review, you will know whether CoinDCX is safe or not to trade crypto.
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What Is CoinDCX?
CoinDCX is an Indian cryptocurrency exchange platform founded in 2018. The CoinDCX founders are Sumit Gupta and Neeraj Khandelwal. Both are graduates of the prestigious Indian Institute of Technology. The CoinDCX exchange emerged in response to India’s growing interest in cryptocurrencies. The vision is to provide accessible and secure avenues for crypto trading. The platform is popular in the country, as a lot of traders search the term “CoinDCX review India” on the web to evaluate the platform.
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The CoinDCX owners, Sumit Gupta and Neeraj Khandelwal used their expertise in engineering and software development to create a platform that answers the needs of both novice and experienced crypto traders. Their shared belief in the significant potential of blockchain technology drove the development of the CoinDCX exchange into India’s first crypto unicorn in 2021. Through strategic partnerships, innovative features, and a commitment to security, the CoinDCX exchange has become a cornerstone of India’s cryptocurrency ecosystem.
CoinDCX was founded in 2018 by Sumit Gupta and Neeraj Khandelwal, both graduates of the Indian Institute of Technology. With backgrounds in engineering and software development, the founders recognized the growing interest in cryptocurrencies within India’s digital landscape and saw an opportunity to create a reliable platform for cryptocurrency trading. Drawing on their expertise and passion for blockchain technology, the CoinDCX CEO, Sumit Guptaand, and Neeraj established CoinDCX with the aim of providing Indian users with access to a secure and user-friendly exchange platform.
Since its inception, CoinDCX has achieved significant milestones within the cryptocurrency industry. As mentioned, in 2021, CoinDCX became India’s first cryptocurrency unicorn, reaching a valuation of over $1 billion. Additionally, CoinDCX has received backing from major investors and venture capital firms.
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CoinDCX Features
In this section of our CoinDCX review, we will delve into the features and tools offered by the platform. The CoinDCX exchange offers various trading features to its users, but these are the most prominent ones.
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CoinDCX Spot, Margin, and Futures Trading
CoinDCX’s spot trading feature allows users to buy, sell, and trade cryptocurrencies at current market prices. Moreover, margin trading on the CoinDCX exchange enables users to trade with borrowed funds. Additionally, CoinDCX’s futures trading feature allows users to speculate on the future price movements of cryptocurrencies. With futures contracts, you can take long (buy) or short (sell) positions on assets and profit from both upward and downward price trends.
CoinDCX Earn
CoinDCX also allows users to earn passive income on their crypto holdings through various earning programs. These may include staking, where users lock up their coins to support the network and receive rewards, and participation in yield farming and decentralized finance (DeFi) protocols. Using these earning opportunities, users can maximize the returns on their crypto assets beyond trading.
CoinDCX OTC Desk
The CoinDCX OTC trading desk enables users to execute large trades outside of the regular exchange order books. The OTC desk provides personalized service and competitive pricing for high-volume traders. It facilitates seamless transactions with minimal slippage and market impact. This feature is particularly beneficial for institutional clients and large investors.
CoinDCX API Broker
CoinDCX offers an application programming interface (API) brokerage service for institutional clients and professional traders. The API allows users to access advanced trading features, execute automated trading strategies, and customize their trading experience according to their specific requirements. Through the API brokerage service, users can integrate CoinDCX’s trading functionality into their existing systems or trading platforms, enabling seamless execution and efficient management of their cryptocurrency portfolios.
CoinDCX Instant Purchases
CoinDCX India offers a valuable tool for trading beginners: instant buys and sells. This feature lets users quickly purchase or sell cryptocurrencies like BTC, ETH, and XRP, among others, using the Indian Rupee (INR). Instant purchases are particularly beneficial for newcomers who may find comprehensive trading dashboards intimidating. The simplicity of instant purchases streamlines the trading process and makes it faster and less prone to errors.
CoinDCX VC Funding Channel
CoinDCX distinguishes itself further by offering a VC (venture capital) funding channel. The CoinDCX VC funding channel helps startups and projects in the blockchain and Web3 space. This reflects the platform’s mission to encourage innovation and growth within the cryptocurrency ecosystem. CoinDCX aims to contribute to developing revolutionary tools by providing funding and resources to promising projects.
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CoinDCX Benefits and Drawbacks
Just like any other crypto platform, the CoinDCX exchange has various pros and cons. In this part of our CoinDCX review, we present the most prominent advantages and disadvantages of trading on CoinDCX.
CoinDCX Pros
Here are the most significant benefits that CoinDCX offers its users:
Wide Range of Cryptocurrencies: CoinDCX provides a diverse selection of cryptocurrencies for trading. Users can access their popular assets as well as emerging tokens.
Comprehensive Trading Features: The platform supports various trading options, including spot, margin, futures, and conversion. This allows traders with different preferences to achieve their goals.
User-Friendly Interface: CoinDCX’s intuitive interface makes it easy for both novice and experienced traders to navigate the platform and execute trades efficiently.
Robust Security Measures: The CoinDCX exchange prioritizes the security of user funds and personal information. It implements industry-leading security protocols such as multi-factor authentication and cold storage.
Responsive Customer Support: CoinDCX offers 24/7 live chat support. Thus, users can receive timely assistance and resolve any issues they encounter while using the platform.
CoinDCX Cons
For an honest CoinDCX review, we should also state the drawbacks associated with the crypto trading platform. Here are the most important cons of the CoinDCX exchange:
Limited Fiat Support: While CoinDCX supports fiat-to-crypto trading pairs, the availability of fiat currencies may be limited compared to other exchanges, potentially restricting the trading options for some users.
Lack of Advanced Charting Tools: While CoinDCX offers basic charting tools for technical analysis, some advanced traders may find the charting features lacking in depth and functionality compared to dedicated trading platforms.
Risk of Volatility: Cryptocurrency markets are known for their high volatility, and trading on CoinDCX carries inherent risks due to price fluctuations. Users should exercise caution and conduct thorough research before engaging in trading activities.
Potential for System Downtime: Like any online trading platform, CoinDCX may experience occasional system downtime or technical issues, which could disrupt trading activities and affect user experience.
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CoinDCX Fee Structure
The CoinDCX exchange implements a fee model comprised of various aspects of trading and transactions on its platform. For a complete CoinDCX app review, we also need to check out the fee structure. Here is a table for the CoinDCX fee structure:
| Fee Level | 30-Day Trading Volume (Spot) | 30-Day Trading Volume (Futures) | Spot (INR) Maker Fee | Spot (INR) Taker Fee | Spot (C2C) Maker Fee | Spot (C2C) Taker Fee | Futures Maker Fee | Futures Taker Fee |
|---|---|---|---|---|---|---|---|---|
| Regular | <5L | <2M | 0.50% | 0.50% | 0.025% | 0.075% | 0.025% | 0.075% |
| VIP Level 1 | 5L – 75L | 2M – 5M | 0.20% | 0.20% | 0.025% | 0.070% | 0.025% | 0.070% |
| VIP Level 2 | 75L – 5Cr | 5M – 15M | 0.15% | 0.20% | 0.022% | 0.065% | 0.022% | 0.065% |
| VIP Level 3 | 5Cr – 10Cr | 15M – 50M | 0.12% | 0.20% | 0.018% | 0.060% | 0.018% | 0.060% |
| VIP Level 4 | 10Cr – 25Cr | 50M – 100M | 0.10% | 0.20% | 0.014% | 0.055% | 0.014% | 0.055% |
| VIP Level 5 | 25Cr – 100Cr | 100M – 500M | 0.08% | 0.20% | 0.012% | 0.048% | 0.012% | 0.048% |
| VIP Level 6 | 100Cr – 500Cr | 500M – 1000M | 0.06% | 0.20% | 0.010% | 0.040% | 0.010% | 0.040% |
| VIP Level 7 | 500Cr+ | 1000M+ | 0.04% | 0.20% | 0.008% | 0.035% | 0.008% | 0.035% |
Trading fees are charged for every transaction executed on the exchange. These fees can vary depending on the type of trade being conducted, such as spot, margin, or futures trading. The trading volume also plays a role in determining the fees. Higher trading volumes often result in lower fees per transaction.
In addition to trading fees, the CoinDCX app may also impose charges for withdrawing funds from the platform. The fees associated with deposits and withdrawals can vary based on the payment method (e.g., bank transfer, credit/debit card, on-chain) and the type of currency being transferred (crypto or fiat).
Furthermore, the CoinDCX exchange operates on a maker-taker fee model. Makers (users who provide liquidity to the market by placing limit orders) typically pay lower fees than takers (users who execute market orders).
Moreover, CoinDCX may offer fee discounts or incentives for users who register with a CoinDCX coupon code. Therefore, users can search for CoinDCX referral codes to save on their trading fees. You can easily search the web to find a coupon code for CoinDCX.
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CoinDCX Pro Review
CoinDCX Pro is the advanced cryptocurrency trading platform offered by CoinDCX. It is known for its robust wallet, swift fiat-to-crypto conversions sans fees, and a straightforward approach to long-term crypto wealth accumulation. With a meticulously curated selection of over 1000 high-quality crypto projects available for buying, selling, trading, and investing, it offers a comprehensive suite for traders and investors alike.
Moreover, CoinDCX Pro boasts an array of features, including fee-less spot trading, ample global liquidity across all crypto futures pairs, and access to up to 20x leverage on over 55 crypto futures pairs, ensuring versatility and depth in trading options.
Furthermore, CoinDCX Pro prioritizes top-tier security measures, incorporating cold wallet storage, withdrawal confirmations, and 2-factor authentication to safeguard users’ assets effectively. The CoinDCX Pro app is available to international traders and investors on platforms like Google Play and the App Store. You can also access it via the web by navigating to the CoinDCX Pro login page.
CoinDCX Geographic Support and Regulations
Now that we have provided a full CoinDCX app review, it is time to analyze the platform’s regulatory considerations. CoinDCX primarily serves users in India, catering to the growing demand for cryptocurrency trading in the region. As one of the country’s leading cryptocurrency exchanges, CoinDCX India complies with relevant regulatory requirements. It follows strict KYC and AML procedures to ensure the legality of its operations. Therefore, the answer to the question, “Is CoinDCX legal in India?” is yes.
Moreover, while CoinDCX is legal in India and primarily focuses on serving Indian traders, it also supports other international traders. However, it’s important to note that CoinDCX is not legal in the US due to regulatory restrictions. Nevertheless, CoinDCX is safe, at least it seems so, as it follows regulations and implements robust security procedures.
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CoinDCX Reviews: Is CoinDCX Safe?
CoinDCX reviews on Trustpilot reflect a mixed perception among users. While some users praise its user-friendly interface and features like portfolio management tools, others express concerns about fraudulent activities and issues with customer service responsiveness. Therefore, the question, “Is CoinDCX safe?” can have various answers according to users’ CoinDCX reviews.
Positive CoinDCX Trustpilot reviews highlight the platform’s ease of use and comprehensive functionality. On the other hand, negative CoinDCX Trustpilot feedback underscores the importance of transparency and security in cryptocurrency exchanges. Overall, CoinDCX reviews on Trustpilot offer valuable insights for potential users considering CoinDCX for their cryptocurrency trading needs.
How to Register on CoinDCX?
Before navigating to the CoinDCX login page, you should sign up on the platform. The process of how to register on CoinDCX is a straightforward one, but let’s walk through it step by step:
Step 1: Visit the CoinDCX homepage and locate the “Create Account” button beside the CoinDCX login button in the top right corner. Click on it to proceed.
Step 2: On the CoinDCX sign up page, fill out the necessary information. These include the full name, email address, and a chose password. You can also use your Google account for CoinDCX login or registration.
Step 3: You should then enter your phone number and verify the OTP code sent to the number to proceed. Remember also to use a CoinDCX referral code to gain additional bonuses. Various CoinDCX coupon codes can be found on the web.
Step 4: You should then set a pin code to use on CoinDCX app or the CoinDCX login page on the web.
Step 5: Your account is now created. The only remaining step is to verify your identity. These are the generally accepted documents, but they may differ based on your country of residence:
- Passport
- Driver’s license
- Identity card
- Residence permit
After following these steps, your account will be created. You can then navigate to the CoinDCX login page and use the exchange’s services.
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How to Withdraw Money from CoinDCX?
To withdraw crypto from the CoinDCX app, navigate to the Account section and tap “Crypto Transactions.” Then, tap on the CoinDCX withdrawal button at the bottom of the page. Select the token you want to withdraw and fill in the details for the recipient’s account, including the network for the transfer and the receiver’s wallet address. If it’s a new wallet, additional verification steps may be required.
Once you’ve completed the necessary steps, your withdrawal request will be reviewed for verification. After verification, the cryptos will be successfully transferred to your target account. Methods of CoinDCX Withdrawal Indians can use might also include fiat currency, specifically the with INR.
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Conclusion
According to our CoinDCX review, the platform stands out as a leading cryptocurrency exchange platform in India. CoinDCX owners and founders are Sumit Gupta and Neeraj Khandelwal. Leveraging their backgrounds in engineering and software development, the CoinDCX founders recognized the growing interest in cryptocurrencies within India and aimed to provide a reliable platform. Through strategic partnerships, innovative features, and a commitment to security, the CoinDCX exchange has become a cornerstone of India’s cryptocurrency ecosystem.
Overall, the CoinDCX app offers a wide range of cryptocurrencies for trading, comprehensive trading features, including spot, margin, and futures trading, and a user-friendly interface that makes it easy for traders to navigate the platform. Additionally, CoinDCX prioritizes the security of user funds and personal information and offers responsive customer support to address any issues users encounter. While there may be some limitations, such as limited fiat support and the potential for system downtime, our CoinDCX review shows that the exchange remains a reputable and reliable choice for cryptocurrency traders in India and other countries.
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FAQ
Who are the CoinDCX founders?
As introduced in the CoinDCX review, it was founded by Sumit Gupta and Neeraj Khandelwal, both graduates of the Indian Institute of Technology.
Is CoinDCX safe to use?
Yes, CoinDCX follows strict security measures such as cold wallet storage, withdrawal confirmations, and 2-factor authentication to ensure the safety of users’ funds.
How can I register on CoinDCX?
As mentioned in our CoinDCX review, to register on the platform, visit the homepage, click on “Create Account,” fill out the necessary information, verify your phone number, and verify your identity with accepted documents.
How do I withdraw money from CoinDCX?
To withdraw money from CoinDCX, navigate to the Account section, select “Crypto Transactions,” then “Withdraw,” and follow the instructions to complete the withdrawal process.
Is CoinDCX legal in India?
Yes, CoinDCX is legal in India and complies with relevant regulatory requirements. It focuses on serving Indian traders while also supporting international users.
