- The app UI is user friendly and the learning curve is frugal
- The money withdrawal and deposit takes place fast
- The support systems offered are adequate
- The platform has decent security measures inbuilt
- The initial deposit amount is low
- No charges for withdrawal and deposits
- It supports over 100 crypto coins
- It has zero brokerage policy and no hidden costs
- It has a referral program in place
- An app-based platform with no provisions for a desktop version
- It is aimed at Indian users only
- No phone-based support is there
- Credit card is not supported for making transactions
Cryptocurrencies have become much sought after for new era investors seeking alternate and safer avenues, nowadays. While an element of uncertainty and volatility is there, the growth of this sector is remarkable. The lack of regulations and ambiguity on part of the Indian govt has not deterred millions of people from using crypt tokens and exchanges. With time, the number of Indian-origin crypto exchanges is going up. Coinswitch Kuber is one of the new contenders in this sector. Before you choose this crypto exchange, it is necessary you learn its nuances well.
The basics of Coinswitch Kuber
Coinswitch Kuber is an India-based cryptocurrency exchange and it was set up by the trio- Vimal Sagar Tiwari, Ashish Singhal, Govind Soni. The original Coinswitch exchange was unveiled in 2017. The India-specific version came up in 2020. Its user base has grown steadily since its inception. Coinswitch is among the user-friendly and secure crypto platforms and it supports over 100 cryptocurrencies. One notable thing is the exchange does not generate its liquidity. Instead, it lets you link with many other exchanges to fetch the best exchange rates.
The exchange is meant for mobile users and so you can trade remotely using the app. You do not get any desktop version as such. The services are available for Indian users only.
How to get started with Coinswitch Kuber?
Like what you have to do with most other cryptocurrency exchange platforms, Coinswitch Kuber requires you to register yourself, authenticate the details and start trading thereafter. Of course, you need to make deposits in your account before that.
The process is described below:
- At first, you have to download the CoinSwitch Kuber app for Android or iOS.
- The registration process is phone number based and you have to input the OTP received.
- For trading using the platform, you have to wrap the KYC process next. The KYC procedure is simple and you will be done with it in less than 30 minutes. You will have to submit documents like PAN Card and a valid id proof like Aadhar Card. The app accepts scanned copies of such documents for verification.
How to deposit funds?
To begin trading on any Crypto exchange, you have to deposit funds and the same is the case with Coinswitch Kuber. The nice thing is the platform does not impose any transaction limit on its users.
To deposit funds in your Coinswitch Kuber account:
- Open the app and then click on the button Deposit INR.
- Then type in the amount to be deposited and click on deposit. The lowest amount allowed is INR 100.
- Funds can be deposited through UPI, NEFT, and IMPS.
- It will be necessary to fill in the bank details if you choose bank transfer.
The deposit process does not take much time.
How to purchase crypto using Coinswitch Kuber?
To buy crypto tokens using Coinswitch Kuber:
- Click on “market” section in the app UI.
- Now pick your preferred cryptocurrency.
- Click on the buy button at bottom left.
- Then type in the amount you want to purchase.
- Clicking on Preview Buy lets you see the amount of tokens you will get.
- When you pick on Buy, the assets will be stored in your account.
The nice thing is Coinswitch Kuber does not charge any fees for either withdrawal or deposits. For the first 100 days, there are no trading fees either. Thereafter, you will have to pay the trading fee as per the exchange chosen.
Referral and reward system
Coinswitch Kuber offers a Referral program. Using it you can earn BTC equalling 50 INR if the referral is successful. Any registered user can use the program. The referee has to download the application through the referral link and execute the KYC.
The crypto exchange also has a coupon-based reward system in place. The reward coupons are found in the app’s Gift section.
What about the support options?
When you invest in the crypto sector using any exchange, you have to learn about the customer support options. Coinswitch Kuber app has a dedicated section for customer support. The time-limited live chat option is there too. The email-based support is there as well and the default reverting time is 12 hours. There is an elaborate FAQ section in the app, too. However, the company still does not offer phone-based support.
Cryptocurrency exchanges have to be fortified with ample security measures. As a matter of fact, top crypto exchanges like Binance have been subjected to stealthy hacking attacks that made headlines in the past. The nice thing about Coinswitch Kuber is it comes with inbuilt safety provisions. The KYC compliance is reassuring. It is an ISO 27001 compliant platform.
Summing it up
CoinSwitch Kuber is an Indian crypto exchange that is aimed at multiple types of users. The platform lets you link to various crypto exchanges and wallet services and trade using plenty of crypto tokens anytime. Its lack of withdrawal and deposit fees makes it an enticing alternative to segment rivals. The platform supports plenty of crypto tokens and ease of usage is pretty good. The customer support is also decent and the referral program is commendable. However, it is totally app-based and the lack of a desktop version may irk a section of users. Overall, the benefits of the platform largely outshine the few glitches.