CoinDCX is a cryptocurrency exchange launched on April 7, 2018, with offices located in India. CoinDCX, created with user experience and security in mind and claims to provide almost instant conversion of fiat currency to cryptocurrency with zero fee.
On CoinDCX, users can have one-stop access to a diverse set of cryptocurrency financial products and services that are supported by security processes and insurance. CoinDCX has the largest number of cryptocurrency exchanges in India.
The adaptation process on CoinDCX is one of the fastest in the industry, as it is reported that the completion of the KYC process and bank account verification can be completed within 5 minutes. The commission for trading and withdrawing cryptocurrency is minimal. The exchange also provides opportunities for almost instant deposit and withdrawal of funds.
CoinDCX aims to connect 50 million users to the cryptocurrency through its TryCrypto initiative. CoinDCX also has a subsidiary, DCX Learn, an EdTech platform for those who want to learn about cryptocurrency and blockchain.
CoinDCX is backed by investors such as Polychain Capital, Coinbase Ventures, Bain Capital Ventures, and HDR Group, the operator of BitMEX.
The main USP (Unique point of sale) of CoinDCX is that they offer trading of many different cryptocurrencies (over 200). Not only the main crypto assets are supported, but also many of the more exotic altcoins.
The proposed tools:
- DCXinsta: provides the transfer of fiat money from Indian Rupees (INR) to cryptocurrency
- DCXlend: A decentralized lending service
- DCXmargin: With up to 6x leverage in over 250 markets.
- DCXfutures: With 20x leverage on leading digital asset futures.
- CoinDCX Mobile Support: The CoinDCX trading platform is also compatible with mobile devices. You can download it for Android phones (support for iPhone is coming soon).
The products are designed for all types of traders based on their trading experience, risk tolerance, and trading frequency.
In addition to depositing cryptocurrency on the platform, CoinDCX also allows you to deposit fiat currency. However, only by bank transfer (not by credit or debit card). Since deposits in fiat currency are possible on this trading platform, CoinDCX qualifies as an "entry-level exchange", making it an exchange from which new crypto investors can begin their journey into the exciting world of cryptocurrencies.
CoinDCX charges a withdrawal fee of 0.001 BTC per BTC withdrawal, which is slightly higher than the industry average. The current global industry average is slightly above 0.0006 BTC per BTC withdrawal, so the CoinDCX withdrawal fee is about 60% higher than the average.
- Spot Market
Manufacturer's fee 0.1%
Taker fee 0.1%
- The futures market
Manufacturer's fee 0.02%
Taker fee 0.05%
- Margin Trading
0.05% is credited in the first 24 hours.
DCX is registered and based in Singapore, but is primarily focused on the Indian market. It supports the AML and privacy policies and complies with the regulatory requirements of both countries.
CoinDCX requires users to activate two-factor authentication. 95% of users ' funds are stored in geographically distributed multi-signature cold wallets at any given time. All withdrawal requests are automatically matched to the account's email addresses, while large payouts are manually verified by the CoinDCX security team.
CoinDCX is backed by some of the largest international blockchain companies, including Polychain Capital and Coinbase Ventures.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.