CoinSwitch Review: Safe & Anonymous To Trade Cryptocurrencies

Are you wondering if CoinSwitch is a safe & legal in India? Because I was, when I tried it for the first time in 2018. I had few Ether and I needed ripple so I used this crypto aggregator to exchange them and transfer my XRP to MetaMask, a non-custodial wallet.

I was surprised to see how this platform was able to save few dollars on transaction fees for me. Unlike other traditional cryptocurrency exchanges, it works in a quite different way and does not generate its own liquidity.

Instead, it connects with multiple exchanges via APIs in order to find the best exchange rates so the users could compare & choose the one that offers the maximum return & minimum transaction fees.

CoinSwitch Review:

In this review I'll cover all the features that makes CoinSwitch different from other exchanges & a better option to exchange cryptocurrencies.

CoinSwitch is an exchange aggregator that allow traders to find the best exchange rates by aggregating the leading exchanges and comparing cryptocurrency prices in real time.

They support over 300+ cryptocurrencies, altcoins with more than 6000+ trading pairs for exchange. Click here to check all the trading pairs available their.

How To Use CoinSwitch?

Using CoinSwitch is as simple as using any other crypto exchange. Their user friendly GUI makes it easy to navigate & exchange cryptocurrencies with in a matter of few seconds.

As soon as you land on their exchange page you will have to choose the trading pair you want to exchange. Like Ethereum for Ripple or Bitcoin for Binance coin.

Once you have selected the trading pair, it will ask you to enter the amount, e.g. 0.1 BTC.

CoinSwitch Landing Page
CoinSwitch Landing Page

After this information is entered, unlike Uniswap, a screen with the list of marketplace along with their exchange rates will pop up on your device.

However, when a trader uses Uniswap, the platform does not offer such option. Rather, the exchange gets selected automatically.

Once the exchange is selected, Coinswitch shares the deposit address & ask the trader to enter the address where they want their exchanged coins to be sent. 

As soon as the trader sends the coin to the deposit address, the transaction gets confirmed & they receives the exchanged coins in their wallet.

Voila! That's all, wasn't it easy? Let us know in the comments!

Anyways did you notice, executing a trade here does not require the trader to undergo KYC verification? Indeed, a person could buy crypto anonymously with a credit & debit card on CoinSwitch.

Where is CoinSwitch Based?

CoinSwitch is based in Bangalore, India and has been dealing in the trade of cryptocurrencies & digital assets since June 2017.

Is CoinSwitch Safe & Legal In India?

Yes, in accordance with my experience I find CoinSwitch a safe & legit platform to trade & exchange cryptocurrencies.

The best part is, they're a non-custodial exchange. As opposed to other centralized platforms CoinSwitch does not custody user funds.

Apart, It is a registered business in India which is backed by some of the best VCs like Sequoia Capital.

CoinSwitch Backed By Sequoia Capital
CoinSwitch Backed By Sequoia Capital

Is CoinSwitch Anonymous?

Yes, CoinSwitch Pro allows customers to exchange over 300 cryptocurrencies & 6000+ trading pairs without having to submit their KYC details or personal information. However, CoinSwitch Kuber mobile application ask users to verify their identity.

The best part of this platform is that it does not even ask its customers to create account to use their services however there is no such restrictions. You can can create your account here & track all of your transactions.

This is the reason the platform grew rapidly despite of a long crypto winter (since first quarter of 2018-2019) and now it is reporting a daily trading volume of over $1 million USD in less than a year.

CoinSwitch Fees

CoinSwitch fees varies from 0% to 0.49%. This is because each exchange they connects to offer different fees so it depends on where the trader decides to exchange his/her coins.

Other than this, CoinSwitch themselves takes less than 0.5% for a transaction which makes them very competitive for such convenience.

So if we take CoinSwitch's & the connected exchange's fee into consideration then the total fee comes out to be around 1%.

Over to you:

In this review, I have shared all the features & services offered by Coinswitch which includes how it works, how to use it and what makes them unique & competitive, what are is their fees structure.

I believe, this post must have answered all of your questions about this platform & now you'll find it easy to trade & exchange cryptocurrencies on CoinSwitch.

Ready to roll?? Visit CoinSwitch here.