Coin DCX India's First Crypto Exchange

Coin DCX: Features, Fees, Payment Methods & Security

Coin DCX is the first cryptocurrency Exchange of India to turn into a unicorn. It was valued at 1.1 Billion USD after its Series C funding round, which helped it achieve that status. With more than 4M+ users on its platform, it is one of the largest Crypto Exchanges in India. Launched in 2018, Coin DCX is backed by some of the largest Crypto promoters of the world like CoinBase Ventures, BitMEX, etc. Sumit Gupta is the Founder and CEO of the company, he launched the Exchange three years ago. And since then it has seen tremendous growth, as the Cryptocurrencies valuations rose substantially all over the world.Coin DCX Go

Indians are one of the largest crypto investors in the world. Cryptocurrency Investments grew in India from approximately $923 million in April 2020 to a whopping 6.6 Billion USD in May. No other investment class has provided the kind of gains that Cryptocurrencies have and within the shortest period of time.

Today, India has just 3-4 major Cryptocurrency Exchanges namely CoinSwitch Kuber, WazirX, Coin DCX, and Unocoin. The Crypto Market of India is concentrated within these four Exchanges. And for the same reason, they are all investing heavily on their marketing, to gain the largest market share in the country. Currently, CoinSwitch Kuber is the market leader in India with more than 15M+ registered users on its platform.

Coin DCX Fees and Charges

Coin DCX charges do not carry a fixed charge for the trades made by its users. It depends on various things like, whether the trade is a maker or a taker in the order book, and the coin/token that is being traded, etc. Like most other Exchanges, Coin DCX also incentivizes users who bring higher volume to the Exchange. You can check out the charges in detail below.Coin DCX Indian Crypto Exchange

Deposit fees

Coin DCX does not charge any money for the deposits made by its users. Deposits can be made through direct Bank transfers, Mobiwik or Crypto Transfers can be made too. The users who have done the complete KYC of their accounts can Deposit up to 5,00,000 through Bank Transfers, and up to 1,00,000 through MobiKwik Wallets, in one day. For non-KYC users, the maximum limit is 10,000 only and the minimum amount for a deposit is 100 Rupees for all kinds of accounts.

Withdrawal fees

Coin DCX charges a nominal amount from its clients as withdrawal fees. Earlier, it had very high fees for withdrawal, but currently, it has kept a below industry average fee for its user.

Coin DCX Fees And Charges

Like, the fee for BTC withdrawals, the industry average is 0.0006 BTC per BTC. Coin DCX charges its users 0.0005 BTC for Bitcoin Withdrawals. For all other coins/tokens, it has a separate charge sheet that a user can refer to by clicking on this link. The minimum and maximum withdrawal limits are 500 and 5,00,000 rupees respectively, per day for full KYC users. While for non-KYC Users the limit is just 10,000 Rupees.

Coin DCX Payment Methods

Coin DCX accepts payments through fiat in INR only. But, if a user wishes to transfer coins directly from their wallet to their Coin DCX account, it has the option to do that too. But, wallet tags are available for a few tokens only, For example, XRP, XMR, XLM, etc.

 

PROS AND CONS 

Pros

Cons

User-friendly platform, formed with the partnership with various market leaders. Does not have many latest feature that other exchanges provide, like Auto Buy, or arbitrating, etc.
Easy and quick deposits of a wide variety of tokens/coins. The withdrawal fee for some of the tokens is higher than the industry average.
Coin DCX has a very secure platform, as it has never been compromised or hacked yet. Uses a maker and taker system to charge the trading fees, which generally makes it expensive for the takers, who generally are the normal retail investors, who simply buy at the market price.
Backed by strong and powerful Exchanges, which helps empower its working better. Has a minimum Withdrawal limit of 500 rupees, which may not be very convenient for some users.

 

Conclusion

Coin DCX was founded on 7th April 2018 by an IITian. It is the first, and therefore the oldest Exchange in India. It has built trust with its users and has got some serious Exchanges and Crypto trading facilitators backing it. With the help of its partners, Coin DCX has been able to form a strong user base and a solid liquidity on its platform. But the pace at which the competition has grown in the past few years, Coin DCX has been left behind by a few other Exchanges. CoinSwitch Kuber which was launched last year has more than 3 times the users, that Coin DCX currently has. It is because of the intense marketing they did of their Exchange since their launch itself.

Coin DCX has realized the importance of marketing and had hired the Big B, Amitabh Bachchan as their Brand Ambassador. But even he paused his association with them saying he’ll wait for the Government’s go-ahead for Crypto usage in India. Amitabh Bachchan Coin DCXBut Coin DCX went ahead and hired Ayushman Khurrana as their Brand Ambassador later on. So, it has been trying to regain its lost leadership in the market. It won’t be easy as we today have plenty of players trying to grab the market. 

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