Cryptocurrency is a major part of the finance market in India now. With the growing demand, the suppliers also grow. And two of the most prominent cryptocurrency exchange platforms in India are CoinDCX and CoinSwitch Kuber. CoinDCX was launched in 2018 by Sumit Gupta and Neeraj Khandelwal while CoinSwitch Kuber was launched in June 2020 by Ashish Singhal. Kuber is an Indian based platform for CoinSwitch which was founded in 2017. Both these exchanges are well-known for their excellent services and have a customer base above 3 million users.
CoinDCX vs CoinSwitch Kuber
The two platforms will be judged on the basis of their Services, security, and their ability to satisfy the customer needs for crypto.
1. Security and Privacy
The users are often concerned about their funds and the security offered by these crypto exchanges. The fact that none of these exchange platforms are regulated also plays an important role in selecting the best one.
CoinDCX has a strict policy towards security of the transactions and user data. The funds are 100% safe with CoinDCX as 95% of it is stored in the cold wallet. The users are verified through KYC details. And the exchange also allows the customers to have a 2F Authentication. The funds are also insured by BitGo.
CoinSwitch Kuber verifies all the eligible accounts through KYC. Kuber doesn’t store your funds in the digital wallet, so the user can be assured of no fund scam from the platform.
CoinDCX offers a better experience while taking the risk of storing your funds as well as protecting and insuring them under their guidance.
2. Trading fees
It is essential to check the trading fees charged by the platform you’re going to use, because paying extra money for something that could have been cheaper is surely not an Indian’s thing.
CoinDCX charges 0.1% maker fees and 0.1% taker fees which is relatively very low as compared to the market prices. The fees are based on the 45-days observation of the investors trading volume.
CoinSwitch Kuber deducts 1-2 % of price from the transaction on the platform, as it’s trading fees. The platform charges a fee of 0% to 0.49% depending on the type of your transaction.
As we can clearly notice, CoinDCX charges a lesser amount for allowing its users to trade on the platform.
3. Ease in Using
India is a country of beginners. Crypto has recently gained so much popularity in the Indian market. So people need to have a platform which makes their crypto experience easy and simple.
CoinDCX is believed to have a complicated user-interface for trained investors. The order book is slightly confusing as compared to normal exchange platforms. The features do not comply with beginner level trading.
CoinSwitch Kuber is built with the mission to make Crypto easy and simple for the users. The platform is easy to navigate and the features are relevant. One can trade with ease on Kuber.
Kuber clearly bags the easy interface competition. It is surely made for new investors with limited knowledge of crypto.
The comparison clearly shows that Coin Kuber is an app which is only used for buying and selling crypto with ease. But CoinDCX is the more preferable and accepted exchange platform. It provides security, privacy, good offers for trading, and charges less.