WazirX vs CoinSwitch: Which is better?

WazirX vs Coinswitch

The rise of the crypto industry has enabled the rapid evolution of the accompanying products and services. The following guide presents the best cryptocurrency apps designed to ease the activities of the long-term investor and the short-term trader. From exchange and brokerage apps to portfolio trackers, market data providers, and wallets – Today we will evaluate Wazirx vs CoinSwitch – Which Should you Opt for? Read on to understand a few things before you start Trading.

WazirX and CoinSwitch are Indian-based cryptocurrency exchanges. Wazirx and CoinSwitch both are able to survive the RBI ban. Wazirx was acquired by Binance, and CoinSwitch has launched its latest platform CoinSwitch Kuber

WazirX Vs Coinswitch: Comparision:

WazirX:

WazirX is one of the largest cryptocurrency exchanges in India. It is based in Mumbai and was launched in 2017. later, it was acquired by Binance Holdings, which is the world,s Larget cryptocurrency exchange. This makes it one of the most trusted Indian Crypto exchanges.

Key Highlights:

  • Very trusted, owned by Binance
  • Buy, Sell, and Trade 100+ cryptocurrencies
  • Instant Deposits and Withdrawl
    Low withdrawal fees.

wazirx

Coinswitch Kuber:

CoinSwitch Kuber is a cryptocurrency exchange platform. The company was founded in 2017 and is based in Bangalore, Karnataka, India.

CoinSwitch Kuber is a secure, user-friendly platform for users in India, where they can buy 100+ cryptocurrencies like Bitcoin, Ethereum, Ripple, etc easily, at the best rate, with a variety of payments options being offered. CoinSwitch Kuber app is the best cryptocurrency trading platform by providing you with a seamless user experience, through a simplistic user interface.

Key Highlights:

  • Start trading in cryptocurrencies with as low as ₹100
  • Instant Deposit and Withdrawl
  • User-friendly platform
  • No Withdrawl fees

READ | WazirX Vs CoinDCX: Which Is Best For You In 2022

Creating Account:

WazirX: Signing up for a WazirX account is easy and involves the following steps. The email id and password have to be chosen, and a password is set. With on click of sign up, the email id will be verified by sending a verification email to the address provided. After the email verification, mobile verification has to be done. An OTP will be SMSed, enter, and verify.

The next thing is to upload documents for KYC; you can choose to skip this step, but doing so will not allow you to withdraw your cryptos. If KYC is done, then trading, withdrawal, and deposits can be made. The KYC can be verified in 24 to 48 hours, and once approved, you can start using the account.

CoinSwitch: The process of creating an account in CoinSwitch is very easy. Enter the email id and set the password. Verify the phone number by entering your phone number. A verification code will be sent, and you can start creating transactions. No account is needed to create a transaction as there are many exchanges on this platform that offers anonymous trading. 

READ | Binance vs Kraken: Review and Comparison 2022

Reviews:

Both the apps have fairly high reviews on Google Playstore. A few complaints about CoinSwitch on Google Playstore state that the app can become very laggy at peak trading times. As for WazirX, most reviews are positive. Currently, WazirX had a 3+ rating on the PlayStore whereas and CoinSwitch has a 2.9 rating.

WazirX vs Coinswitch Fees:

The most important concern for new crypto investors is the fees charged for transactions by crypto exchanges.

WazirX: WazirX is completely honest regarding its charges. WazirX charges a flat 0.2 percent fee on all crypto trading/ transactions. Moreover, depositing money through bank transfer costs Rs.5.9, and withdrawing money from WazirX costs Rs.5 to 10.

Coinswitch: Coinswitch does not charge for depositing or withdrawing on or from the App, they do have hidden charges. The charges are the difference in the buy and sell price of the currencies. For Example, If the Bitcoin buy price is 38,00,000 INR then, the selling price will be 37,65,000 INR which is a huge difference in the buy and sell price.

If you want to start trading in cryptocurrency at the same time also want to explore the cryptocurrency market in depth I suggest going for WazirX. You can also register on WazirX and trade crypto coins there to earn decent money.

READ | Coinbase vs Binance: Which is Better?

Frequently Asked Questions (FAQs)

Is CoinSwitch Kuber safe?

For trading in a cryptocurrency, the major thing is to check its fund security. One should know whether or not the money you have invested is safe. As per the Deccan Herald, Coinswitch is the most stable, reputed well as a well-funded platform that keeps the money of its investors secure.

Which app is best for cryptocurrency?

Top 5 cryptocurrency exchange apps in India for online trading of Bitcoin, Ethereum, and more
WazirX
Unocoin
CoinDCX
Zebpay
CoinSwitch Kuber.

Does CoinSwitch Kuber take a commission?

CoinSwitch charges a fee of 0% to 0.49% depending on the exchange you select for your transaction. The conversion rate you see is inclusive of the fees.

Is WazirX an Indian company?

Nischal Shetty has made a name for himself in India. In the first half of 2021 alone, his crypto business has grown more than 12 times to become the country’s largest digital currency exchange. And now, he’s set his sights on making WazirX India’s first billion-dollar crypto unicorn.

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