What is the CoinSwitch crypto exchange?
With the help of CoinSwitch, you can trade cryptocurrencies on various exchanges. Here is how to make a trade when you have access to more than 500 cryptocurrencies:
- To compare exchange rates between cryptocurrency exchanges and discover the best rate, use CoinSwitch.
- Select the currency pair you want, then type the amount you want to exchange.
- Utilise your CoinSwitch Order ID to track your order.
Which cryptocurrencies can I buy/sell on CoinSwitch Kuber?
More than 500 cryptocurrencies, including the following, are available for purchase and sale on the CoinSwitch crypto exchange:
Bitcoin (BTC)
Bitcoin Cash (BCH)
Cardano (ADA)
Dash (DASH)
Ethereum (ETH)
Ethereum Classic (ETC)
Litecoin (LTC)
Monero (XMR)
NEO (NEO)
Ripple (XRP)
VeChain (VET)
Verge (XVG)
Origins of CoinSwitch crypto exchange
The co-founders had observed that the price of cryptocurrencies fluctuated slightly across exchanges based on supply and demand while trading on the CoinSwitch crypto exchange. Therefore, picking the best exchange was crucial if consumers wished to gain better profits from the market, especially at scale.
They constructed an aggregator of crypto exchanges to give real-time data on the best rates and exchanges for a particular cryptocurrency to be traded.
"We never imagined it as a firm when we created a straightforward crypto exchange aggregator during a hackathon. However, after the product was made available online, users began to sign up. The simple and intuitive nature of the product was working since users needed simplicity in the crypto world,” he adds.
The objective was to make crypto understandable and accessible to the general Indian population. To effectively announce a prohibition, the Reserve Bank of India advised banks not to support cryptocurrency transactions in 2018.
How CoinSwitch Works
A trader first visits CoinSwitch crypto exchange and informs the platform of the trade they wish to perform, such as trading Bitcoin for Ethereum, before informing CoinSwitch of the amount they wish to trade, such as 0.25 Bitcoin.
CoinSwitch crypto exchange will give the trader a list of exchanges to conduct the trade on when the trader has input this information.
Take note of how this platform's model differs from others. First, the software automatically chooses the exchange with the best rate and performs the trade there when a trader uses another cryptocurrency exchange.
Users can select the exchange they want to utilise using CoinSwitch, which displays exchange rates from all exchanges.
What are the Advantages and disadvantages of CoinSwitch Kuber?Pros
- With more than 400 coins available for trading, CoinSwitch's platform offers an astounding number of trading pairs.
- The absence of registration makes it simple to complete a rapid trade. There is no requirement to register or go through any KYC verification steps.
- Even for novice cryptocurrency traders, the CoinSwitch crypto exchange is relatively simple because of its user-friendly design.
- CoinSwitch supports credit card purchases.
- A referral scheme with the potential to be very profitable makes it simple to earn a bonus paid out in Bitcoin.
Cons
- Some nations, most notably the United States, do not offer CoinSwitch.
- Since CoinSwitch crypto exchange is essentially a crypto-to-crypto exchange, fiat cannot be deposited through a bank or wire transfer.
- Since CoinSwitch crypto exchange requires traders to pay the exchange and network fee for each transaction, fees can occasionally be higher than initially advertised.
- Check the cost that applies to your transaction because trading fees differ between exchanges.
- Fiat deposits are not allowed.
Are there any transfer limits?
There are no minimum or maximum transaction limits on CoinSwitch. However, to make sure it covers all network fees blockchain charges, you'll need to increase the amount of your proposed trade is too low and is rejected.
It's also important to note that the exchange you use to place your deal can have a cap on the most significant amount that can be transacted.
Is it safe to use the CoinSwitch crypto exchange?
You'll need to submit the following information before you can place a trade with CoinSwitch:
- Your email address
- Your name
- Your date of birth
- Your country of residence
- Your phone number
Your phone number and email address must both be verified.
Do your study before deciding whether the platform is secure to use because there isn't much information about the security features offered to clients on the CoinSwitch website.
Customer support
You can email the support staff at help@coinswitch.co if you need assistance with your account or have a query regarding CoinSwitch. The typical response time for email enquiries is 12 hours.
Additionally, you have access to a FAQ section, an online exchange tutorial, and the live chat option, which you may use to get more help.
Conclusion
Contrary to conventional exchanges that provide their liquidity, CoinSwitch is an exchange aggregator for cryptocurrencies and does not operate an exchange itself.
The developers of CoinSwitch realized that traders needed a simple method for comparing prices across various exchanges. Likewise, since its release, the
primefin platform has provided significant incentives to demonstrate its utility.
Its platform links to numerous cryptocurrency exchanges to discover the best exchange rate for its customers and make it incredibly simple to convert any token. To view the prices offered on CoinSwitch for more than 300 coins.