Coinbase Review – Is Coinbase a safe exchange? – 2021

Today I have brought the review of one of the best crypto exchanges for beginners who need a hands-on way to buy bitcoin and start their crypto investment journey. With the most simplistic user interface, Coinbase can be your choice to initiate this journey. It is one of the most trustworthy and secure platforms to buy and sell crypto tokens.

Further, there are very few crypto exchanges that provide their services to US Residents and yet have all the features that are offered by other leading crypto exchanges (mostly not available to US Residents). At the time of writing, Over 45 cryptocurrencies are supported by Coinbase including Bitcoin and Ethereum (to refer to the list of cryptocurrencies supported by Coinbase).

Please note that to use advanced features (such as trading charts, staking, etc.), you will need the pro version of Coinbase known as Coinbase Pro. In this article, we will not be discussing the features of Coinbase Pro.

About Coinbase Exchange: Brief History

Established in June 2012 in San Francisco, California, United States, Coinbase is one of the elephants in the crypto market and is currently the largest crypto exchange in the United States by the trading volume (second largest in the world after Binance which is the world’s largest crypto exchange).

It has 43 million verified users, over 1200+ employees, and operates in more than 100 countries (to check the list of countries supported by Coinbase, click here). The total traded volume on the exchange is USD 455 Billion with USD 90 billion worth of assets currently kept on the platform.

The founding team enrolled for the “Y Combinator Startup Incubator Program” in summer 2012 and raised USD 150,000 for the establishment of Coinbase. In October 2012, the company launched the services to buy and sell bitcoins through bank transfers. In May 2013, the company received a USD 5 million investment led by Fred Wilson from the venture capital firm Union Square Ventures. In December the same year, the company received a US$25 million investment, from the venture capital firms Andreessen Horowitz, Union Square Ventures (USV), and Ribbit Capital. In these past years, Coinbase has raised a total of USD 547.3 Million in funding over 13 rounds with the latest funding being raised on Dec 21, 2018, from a Secondary Market round.

Recently Coinbase Global, Inc. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed public direct listing of its Class A common stock. The Coinbase share will be listed on the Nasdaq Global Select Market under the ticker symbol COIN. The listing is expected to happen in April 2021.

Before understanding the various features that Coinbase offers, we need to understand the diverse experience of the founding team that brought Coinbase together.

Coinbase Team and Foundation

Brian Armstrong – Twitter

Co-founder & CEO

Brian was born and brought up near San Jose, California to engineer parents. He attended Rice University in Texas and earned a dual Bachelor’s degree in economics and computer science in 2005, followed by a Masters in Computer Science in 2006. Armstrong has a long list of employers, he has worked as a developer in IBM, consultant at Deloitte, and joined Airbnb in 2011 as a software Engineer.

While at Airbnb, he understood the difficulties of sending money to South America. Fortunately, in 2010, he came across the bitcoin white paper published by Satoshi Nakamoto. In 2012, he entered the “Y Combinator Startup Incubator Program” and received a $150,000 investment, which he used to found Coinbase.

Fred Ehrsam – Twitter

Co-Founder and Director

After graduating from Duke University in computer science and economics, Ehrsam started his professional career as a trader for Goldman Sachs. 2 years later, he co-founded Coinbase with Brian Armstrong. After working in the core team for 5 years, Ehrsam left Coinbase in 2017 to pursue other crypto-related ventures while continuing to hold a position as a director. In 2018, he co-founded Paradigm with Matt Huang, formerly from Sequoia Capital, and Charles Noyes, from Pantera Capital.

Features of Coinbase Exchange

Now let us discuss and understand the various features that are offered to an individual Coinbase user.

Types of Trades

Coinbase offers spot buying, selling, and conversion of over 45 cryptocurrencies on its platform. However, it does not offer futures and margin trading. The simplicity of buying Bitcoin on Coinbase is what made is the top crypto broker of America.

Coinbase funding methods:

Funding of an account is an important factor before selecting an ideal exchange for our day-to-day usage. Coinbase offers various funding methods, and pick the option based on your jurisdiction and urgency.

Here is the chart that shows various funding methods available for US customers:

Here is the chart that shows various funding methods for European customers:

  • You can buy Bitcoin and various cryptocurrencies instantly using Debit card.
  • PayPal can be used to withdraw your funds

Recurring Buy – Dollar cost averaging

This is one unique feature of Coinbase that is loved by the majority of its users. With the recurring buy or sell, you can do dollar-cost averaging to accumulate a coin (ex Bitcoin) or sell a coin as part of a paycheck. This process of DCA (Dollar cost averaging) removes the emotion out of the context and helps you to be more disciplined with your investment.

Staking – earn income on Coin holding

Coinbase also offers the staking feature on some crypto tokens. However, this feature is limited to the following locations:

  • Belgium
  • France
  • Slovakia
  • Spain
  • The UK
  • The US (excluding New York (for Tezos and Cosmos) and Hawaii residents)

Currently, staking is available only on 3 tokens (Algorand (ALGO), Cosmos (ATOM), and Tezos (XTZ)). For more information on Coinbase staking.

Earn while you Learn: Earn up to $37 worth of crypto

Coinbase has an “Earn while you Learn” model which gives you rewards for watching crypto videos and other resources on the website. This is an amazing concept as you make money while learning so much about the crypto space.

For more information on rewards offered by Coinbase.

Coinbase Wallet

In addition to the Coinbase exchange platform, Coinbase offers a wallet to its users to keep their cryptocurrencies safer.

The Coinbase Wallet app is a separate, standalone app that allows users to store, or custody, their own crypto, and explore the world of Decentralised Apps (DApps) with a DApp browser. You can store all your digital assets in one place including the NFTs and explore the open financial system. You do not need a Coinbase account to use the Coinbase Wallet app.

Coinbase Wallet helps you to manage your own private keys and store your crypto assets directly on your device, not with a centralized brokerage or exchange. Moreover, you can download and use Coinbase Wallet anywhere in the world.

Coinbase Card

Coinbase also offers a Visa debit card, which is funded by your Coinbase balance. This is the easiest way to spend your crypto worldwide. You can choose the crypto (through the online app) which you want to use through the card. Thus, it helps you to use cryptocurrencies as money.

For more information on Coinbase Card, click here.

User Interface and Mobile Application

The USP of the exchange is the most simplistic user interface it offers you. It does not matter whether you are a beginner or an advanced trader, the trading experience is quick and delightful. The exchange also has a mobile application for android and iOS devices to keep the user updated on the go. The app is fully functional and if you enjoy trading on mobile, the app will keep you engaged. There are more than 10 Million downloads on the app store with an average rating of 4.4.

Coinbase Security

Coinbase is one of the safest and secure crypto exchanges in the world. Following are the security features that provide it more credibility:

  • Coinbase website traffic runs entirely over encrypted SSL (HTTPS),
  • 98% of customer funds are stored offline,
  • Sensitive data that would normally reside on the servers is disconnected entirely from the internet,
  • Drives and paper backups are distributed in safe deposit boxes and vaults geographically around the world,
  • 2 Factor Authentication is mandatory for all accounts,
  • Online funds are covered by insurance,
  • Wallets (and private keys) are stored using AES-256 encryption which is one of the best in the world.

Thus, you can rest assured that the exchange is sufficiently safe and secure.

Fees associated with Coinbase

Coinbase fee structure is variable and is substantially higher than most of the leading crypto exchanges in the world.

  • There is no fee for the Coinbase wallet service. However, the transaction fee is charged if any cryptocurrency is transferred to a non-coinbase wallet.
  • On a spot transaction, Coinbase keeps a spread as well as charges a transaction fee (in addition to the spread). Fees may vary based on your location, payment method, and other circumstances.

For more information on the fee, click here.

Social Media Presence

Being one of the top crypto exchanges, Coinbase has a huge social media presence. Further, the Coinbase team is regularly featured by major traditional as well as crypto media houses.

  • Blog
  • Twitter – 1.7 million followers
  • Linkedin – 173,674 followers
  • Facebook – 311,027 followers
  • YouTube
  • Github

So, as we have understood the various features that Coinbase exchange offers, now let me summarise the pros and cons that you will have to consider while using its services.

Benefits of Coinbase Exchange

The various benefits of using Coinbase exchange are as follows:

  • Coinbase provides the simplest user interface amongst the various crypto exchanges in the world
  • With a high trading volume (being no. 2 in the world), Coinbase offers high liquidity to its users
  • It has a unique “Earn while you Learn model”
  • Coinbase wallet provides a secure way to keep your private keys safe
  • US residents (who are restricted by most of the crypto exchanges) can transact in cryptocurrencies through Coinbase

However, according to my understanding, Coinbase also has some limitations.

Limitations of Coinbase Exchange

The limitations of the exchange are:

  • Coinbase charges substantially higher than leading crypto exchanges. However, the fee is lower on Coinbase Pro
  • The variety of altcoins offered by Coinbase is limited and therefore, the exchange may not be a favourable option for an altcoin trader

Conclusion – Coinbase Exchange Review 2021

Finally, I understand that Coinbase is best for beginners as it is very simple to use along with being safe and secure. The exchange is highly liquid and has a good reputation in the market. You can earn many rewards through learning as well as the staling programs.

For any beginner, this is the best exchange to get started.

Now, it is your turn to let me know the feedback and review of the Coinbase exchange? What are the pros and cons of using Coinbase according to you? What are the new features you would want Coinbase to integrate in the days to come?

Harsh Agrawal is the Crypto exchange and bots expert for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in the fin-tech space.

An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.

An international speaker and author who loves blockchain and crypto world.

After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

Join us via email and social channels to get the latest updates straight to your inbox.

Coinbase Review – Is Coinbase A Safe Exchange? – 2021
  • Is Coinbase a safe Exchange?
  • What features does Coinbase offer?
  • What are the pros and cons of Coinbase?
  • Are Coinbase fees worth it?

Today I have brought the review of one of the best crypto exchanges for beginners who need a hands-on way to buy bitcoin and start their crypto investment journey. With the most simplistic user interface, Coinbase can be your choice to initiate this journey. It is one of the most trustworthy and secure platforms to buy and sell crypto tokens.

Further, there are very few crypto exchanges that provide their services to US Residents and yet have all the features that are offered by other leading crypto exchanges (mostly not available to US Residents). At the time of writing, Over 45 cryptocurrencies are supported by Coinbase including Bitcoin and Ethereum (to refer to the list of cryptocurrencies supported by Coinbase, click here).

Also check: How to buy Bitcoin using Coinbase

Please note that to use advanced features (such as trading charts, staking, etc.), you will need the pro version of Coinbase known as Coinbase Pro. In this article, we will not be discussing the features of Coinbase Pro.

About Coinbase Exchange: Brief History

Established in June 2012 in San Francisco, California, United States, Coinbase is one of the elephants in the crypto market and is currently the largest crypto exchange in the United States by the trading volume (second largest in the world after Binance which is the world’s largest crypto exchange).

It has 43 million verified users, over 1200+ employees, and operates in more than 100 countries (to check the list of countries supported by Coinbase, click here). The total traded volume on the exchange is USD 455 Billion with USD 90 billion worth of assets currently kept on the platform.

The founding team enrolled for the “Y Combinator Startup Incubator Program” in summer 2012 and raised USD 150,000 for the establishment of Coinbase. In October 2012, the company launched the services to buy and sell bitcoins through bank transfers. In May 2013, the company received a USD 5 million investment led by Fred Wilson from the venture capital firm Union Square Ventures. In December the same year, the company received a US$25 million investment, from the venture capital firms Andreessen Horowitz, Union Square Ventures (USV), and Ribbit Capital. In these past years, Coinbase has raised a total of USD 547.3 Million in funding over 13 rounds with the latest funding being raised on Dec 21, 2018, from a Secondary Market round.

Coinbase - Investor Base

Recently Coinbase Global, Inc. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed public direct listing of its Class A common stock. The Coinbase share will be listed on the Nasdaq Global Select Market under the ticker symbol COIN. The listing is expected to happen in April 2021.

Before understanding the various features that Coinbase offers, we need to understand the diverse experience of the founding team that brought Coinbase together.

Coinbase Team and Foundation

Brian ArmstrongTwitter

Brian Armstrong - Coinbase

Co-founder & CEO

Brian was born and brought up near San Jose, California to engineer parents. He attended Rice University in Texas and earned a dual Bachelor’s degree in economics and computer science in 2005, followed by a Masters in Computer Science in 2006. Armstrong has a long list of employers, he has worked as a developer in IBM, consultant at Deloitte, and joined Airbnb in 2011 as a software Engineer.

While at Airbnb, he understood the difficulties of sending money to South America. Fortunately, in 2010, he came across the bitcoin white paper published by Satoshi Nakamoto. In 2012, he entered the “Y Combinator Startup Incubator Program” and received a $150,000 investment, which he used to found Coinbase.

Fred EhrsamTwitter

Fred Ehrsam - Coinbase

Co-Founder and Director

After graduating from Duke University in computer science and economics, Ehrsam started his professional career as a trader for Goldman Sachs. 2 years later, he co-founded Coinbase with Brian Armstrong. After working in the core team for 5 years, Ehrsam left Coinbase in 2017 to pursue other crypto-related ventures while continuing to hold a position as a director. In 2018, he co-founded Paradigm with Matt Huang, formerly from Sequoia Capital, and Charles Noyes, from Pantera Capital.

Features of Coinbase Exchange

Now let us discuss and understand the various features that are offered to an individual Coinbase user.

Coinbase Features

Types of Trades

Coinbase offers spot buying, selling, and conversion of over 45 cryptocurrencies on its platform. However, it does not offer futures and margin trading. The simplicity of buying Bitcoin on Coinbase is what made is the top crypto broker of America.

Coinbase funding methods:

Funding of an account is an important factor before selecting an ideal exchange for our day-to-day usage. Coinbase offers various funding methods, and pick the option based on your jurisdiction and urgency.

Here is the chart that shows various funding methods available for US customers:

Here is the chart that shows various funding methods for European customers:

  • You can buy Bitcoin and various cryptocurrencies instantly using Debit card.
  • PayPal can be used to withdraw your funds

Recurring Buy – Dollar cost averaging

This is one unique feature of Coinbase that is loved by the majority of its users. With the recurring buy or sell, you can do dollar-cost averaging to accumulate a coin (ex Bitcoin) or sell a coin as part of a paycheck. This process of DCA (Dollar cost averaging) removes the emotion out of the context and helps you to be more disciplined with your investment.

Staking – earn income on Coin holding

Coinbase also offers the staking feature on some crypto tokens. However, this feature is limited to the following locations:

  • Belgium
  • France
  • Slovakia
  • Spain
  • The UK
  • The US (excluding New York (for Tezos and Cosmos) and Hawaii residents)

Currently, staking is available only on 3 tokens (Algorand (ALGO), Cosmos (ATOM), and Tezos (XTZ)). For more information on Coinbase staking, click here.

Earn while you Learn: Earn up to $37 worth of crypto

Coinbase has an “Earn while you Learn” model which gives you rewards for watching crypto videos and other resources on the website. This is an amazing concept as you make money while learning so much about the crypto space.

For more information on rewards offered by Coinbase, click here.

Coinbase - Earn while you Learn

Coinbase Wallet

In addition to the Coinbase exchange platform, Coinbase offers a wallet to its users to keep their cryptocurrencies safer.

The Coinbase Wallet app is a separate, standalone app that allows users to store, or custody, their own crypto, and explore the world of Decentralised Apps (DApps) with a DApp browser. You can store all your digital assets in one place including the NFTs and explore the open financial system. You do not need a Coinbase account to use the Coinbase Wallet app.

Coinbase Wallet helps you to manage your own private keys and store your crypto assets directly on your device, not with a centralized brokerage or exchange. Moreover, you can download and use Coinbase Wallet anywhere in the world.

Coinbase Wallet

Coinbase Card

Coinbase also offers a Visa debit card, which is funded by your Coinbase balance. This is the easiest way to spend your crypto worldwide. You can choose the crypto (through the online app) which you want to use through the card. Thus, it helps you to use cryptocurrencies as money.

For more information on Coinbase Card, click here.

User Interface and Mobile Application

The USP of the exchange is the most simplistic user interface it offers you. It does not matter whether you are a beginner or an advanced trader, the trading experience is quick and delightful. The exchange also has a mobile application for android and iOS devices to keep the user updated on the go. The app is fully functional and if you enjoy trading on mobile, the app will keep you engaged. There are more than 10 Million downloads on the app store with an average rating of 4.4.

Coinbase Security

Coinbase is one of the safest and secure crypto exchanges in the world. Following are the security features that provide it more credibility:

  • Coinbase website traffic runs entirely over encrypted SSL (HTTPS),
  • 98% of customer funds are stored offline,
  • Sensitive data that would normally reside on the servers is disconnected entirely from the internet,
  • Drives and paper backups are distributed in safe deposit boxes and vaults geographically around the world,
  • 2 Factor Authentication is mandatory for all accounts,
  • Online funds are covered by insurance,
  • Wallets (and private keys) are stored using AES-256 encryption which is one of the best in the world.

Thus, you can rest assured that the exchange is sufficiently safe and secure.

Fees associated with Coinbase

Coinbase fee structure is variable and is substantially higher than most of the leading crypto exchanges in the world.

  • There is no fee for the Coinbase wallet service. However, the transaction fee is charged if any cryptocurrency is transferred to a non-coinbase wallet.
  • On a spot transaction, Coinbase keeps a spread as well as charges a transaction fee (in addition to the spread). Fees may vary based on your location, payment method, and other circumstances.

For more information on the fee, click here.

Social Media Presence

Being one of the top crypto exchanges, Coinbase has a huge social media presence. Further, the Coinbase team is regularly featured by major traditional as well as crypto media houses.

So, as we have understood the various features that Coinbase exchange offers, now let me summarise the pros and cons that you will have to consider while using its services.

Benefits of Coinbase Exchange

The various benefits of using Coinbase exchange are as follows:

  • Coinbase provides the simplest user interface amongst the various crypto exchanges in the world
  • With a high trading volume (being no. 2 in the world), Coinbase offers high liquidity to its users
  • It has a unique “Earn while you Learn model”
  • Coinbase wallet provides a secure way to keep your private keys safe
  • US residents (who are restricted by most of the crypto exchanges) can transact in cryptocurrencies through Coinbase

However, according to my understanding, Coinbase also has some limitations.

Limitations of Coinbase Exchange

The limitations of the exchange are:

  • Coinbase charges substantially higher than leading crypto exchanges. However, the fee is lower on Coinbase Pro
  • The variety of altcoins offered by Coinbase is limited and therefore, the exchange may not be a favourable option for an altcoin trader

Conclusion – Coinbase Exchange Review 2021

Finally, I understand that Coinbase is best for beginners as it is very simple to use along with being safe and secure. The exchange is highly liquid and has a good reputation in the market. You can earn many rewards through learning as well as the staling programs.

For any beginner, this is the best exchange to get started.

Now, it is your turn to let me know the feedback and review of the Coinbase exchange? What are the pros and cons of using Coinbase according to you? What are the new features you would want Coinbase to integrate in the days to come?

CoinDCX 2021 Review – Should It Be Your Choice? (An Indian exchange)

Today, we have brought to you yet another review of growing Indian crypto exchange called CoinDCX. CoinDCX is a Singapore-based company that has a user base predominantly in India (in India, the CoinDCX office is located in Mumbai, Maharashtra). Despite the skepticism of Indian Authorities towards cryptocurrencies, CoinDCX has survived and is growing at a good pace. Though its trading volume is far away from its competitor (i.e. WazirX, read our full review on WazirX here), the exchange can be considered for the features and security it provides to its users.

In this article, we will discuss everything about CoinDCX, from its features and benefits to its limitations. But first thing first, let us understand the foundation and history of the exchange.

CoinDCX was launched on April 7th, 2018 with an aim to provide a user-friendly experience where users can access a wide range of financial products and services backed by industry-leading security processes and insurance protection. CoinDCX is an ISO-certified company that provides decent liquidity with a fast onboarding process in the industry. Further, the exchange partners of CoinDCX are Binance (which is the world’s largest crypto exchange), Huobi, and Okex.

The exchange has just finished its 3rd round of funding in December 2020 with total funds raised worth USD 19.4 Million from companies such as Coinbase Ventures(the investment arm of San Francisco, US-based cryptocurrency trading platform Coinbase), Polychain Capital, Bain Ventures, Bitmex, Mehta Ventures, and Alex Pack, etc.

The exchange offers more than 200 different cryptocurrencies including Bitcoin, Ethereum, and other Altcoins with an average 24-hour trade volume of USD 2.5 Million (approx.).

Now, let us know about the men behind the veil working for CoinDCX.

Founders of CoinDCX Exchange

Sumit Gupta (CEO) – Twitter

Sumit Gupta is the Chief Executive Officer (CEO) and co-founder at CoinDCX. After finishing his graduation and post-graduation from IIT Bombay in India, he joined Sony in Tokyo. He invented India’s first location-based online marketplace (ListUp) which became a multimillion-dollar startup within a year. Sumit is a known name in the Indian Crypto Community.

Neeraj Khandelwal (CTO) – Twitter

Neeraj Khandelwal is the Chief Technology Officer (CTO) and co-founder at CoinDCX. He is an engineer by profession who leads the technical development of all the CoinDCX products. He graduated from IIT Bombay, India in Electrical Engineering in 2012. Under his technical leadership, DCX is exponentially growing across the globe with a variety of crypto instruments available to trade for users.

The CoinDCX team is a good blend of people from the software industry and traditional financial markets. Thus, this team has a good potential to take this exchange to new heights.

Now as we already know about the management team, let us talk about what does this exchange offers in terms of its features.

Features of CoinDCX Exchange

There a number of features that CoinDCX offers. I have tried to consolidate them as follows:

Types of trades offered by CoinDCX

The exchange offers Spot Trading, Margin Trading, and Futures Trading to its users. A margin trade can be levered up to 6X on CoinDCX. However, leverage for a futures contract is allowed up to 20X.

Instant Deposit and Withdrawals (deposit and withdrawal of fiat currency)

The “Insta” feature on CoinDCX allows a user to buy cryptocurrencies with Indian National Rupee (INR). Please note that CoinDCX does not support any fiat currency other than the INR. The minimum buy or sell limit per transaction is INR 1 and the maximum buy or sell limit per transaction is INR 1,00,000.

The lending of cryptocurrencies

“Lend” is a lending platform where users can earn interest through cryptocurrencies that they hold in their CoinDCX account. The user will receive his or her interest in the same cryptocurrency as his or her principal amount. If you lend BTC, the interest you receive will be in BTC.

All the locked cryptocurrencies are stored in geographically distributed cold wallets which are ensured DDoS protection, regular stress testing measures, and multi-signature authentications to ensure cutting-edge security.

There are a number of cryptocurrencies that can be lent through the exchange. For the complete list of such tokens.

Coin Staking

A CoinDCX user can stake their cryptocurrencies on the exchange and earn staking rewards on the same. Currently staking feature is available on 7 coins.

Sub Accounts – Manage multiple accounts from one

CoinDCX has sub-accounts that allow you the option to split up your positions. You can create new sub-accounts, switch which sub-account you’re using, and transfer funds between sub-accounts. Therefore, you can create separate accounts for your trading and investing activities.

User Interface and Mobile Application

The trading view of the exchange is very interactive and user-friendly. The view will help you to trade comfortably without any hassles.

The exchange has a mobile application for android and iOS devices to keep the user updated on the go. The app is fully functional and if you enjoy trading on mobile, the app will keep you engaged. There are more than 100K downloads on the app store with an average rating of 4.6.

What are the Transaction Fee and Transaction limit for CoinDCX?

There are no deposit charges for deposit of fiat currency i.e. INR. For Non-KYC users, the deposit amount is limited to INR 10,000 only. For more details on the deposit click here.

The limit for withdrawal in Fiat currency (INR) is as follows:

Particulars KYC user Non-KYC user
Minimum Value INR 500 per transaction INR 500 per transaction
Maximum Value INR 500,000 per day INR 10,000 per day

The limit for withdrawal in Cryptocurrency is as follows:

Particulars KYC user Non-KYC user
Deposit No Limit The Maximum (deposit + withdraw) limit is 4 BTC per day
Withdrawal No Limit The Maximum (deposit + withdraw) limit is 4 BTC per day

The withdrawal fee is variable depending on the amount and type of cryptocurrencies being withdrawn. For more information on the withdrawal fee, click here.

The trading fee is also variable and is dependant on the club level assigned to you by the exchange. For more information on the trading fee, click here.

How secure is CoinDCX?

CoinDCX is a fairly secure exchange and the core team follows the following principles:

The exchange has uses geographically distributed cold wallets, DDoS protection, regular stress testing measures, and multi-signature authentications to ensure better security.

The Cold wallets mentioned above are completely offline and their multi-signature feature prevents a single point of failure and improves the resilience against the loss of funds on the loss of private keys.

Further, all the funds are insured by BitGO, including users’ cryptocurrencies held on MultiSignature cold wallets thus insuring them to an extent.

CoinDCX KYC Requirements

A user can trade on CoinDCX without submitting his/her KYC documents. However, there are limits to Deposits and Withdrawals as mentioned above.

KYC procedure of the CoinDCX exchange is fully automated in partnership with Onfido (a global leader in artificial intelligence for identity verification and authentication).

Social Media Presence

CoinDCX has a decent social media presence along with global coverage by traditional (Mint, Times of India, CNBC, Medianama, Inc42, Financial Express, Economic Times, Nasdaq, etc.) as well as crypto media houses (Cointelegraph, Coindesk, Coinpost, Blockchain News, etc.).

  • Blog
  • Twitter – 22,600 followers
  • Facebook – 2,896 followers
  • Youtube – 4,460 subscribers
  • Telegram – 11,383 members
  • Instagram – 16,200 followers

So, evidently this exchange has no less than any bigger exchange when it comes to the features. Now, let us summarise the pros and cons of using CoinDCX.

Benefits of CoinDCX Exchange

The benefits of the exchange can be pointed as follows:

  • The exchange has a user-friendly interface and a fully functional mobile application
  • CoinDCX has substantial Community and Social media presence
  • The exchange has renowned investors base which gives the exchange an ample amount of credibility and user confidence
  • The exchange provide sufficient amount of liquidity to the users for the purpose of Margin Trading and Futures Trading

Limitations of CoinDCX Exchange

There are some areas which CoinDCX should try to improve upon, such as:

  • The exchange only supports one fiat currency i.e. Indian National Rupee (INR)
  • Trade volume is fairly low in comparison with the top exchanges in the crypto market
  • The legal framework of Cryptocurrency trading in India is not clear. However, the situation is expected to improve in India as authorities are looking towards possible benefits that can be derived from blockchain technology. Though CoinDCX is registered outside India, its major user base is in India. Therefore the Indian jurisdictional risk may pose a risk of business continuity to CoinDCX Exchange.

Conclusion – CoinDCX Review

As per my understanding, CoinDCX is fairly loaded with all the major features. However the adoption of exchange is yet awaited from the user side. Further, the exchange can work on the various limitations I have mentioned above.

Create a free account on CoinDCX

Nonetheless, as crypto adoption is increasing in India and the authorities may clarify the legal framework of the cryptocurrencies (hopefully in favour of the industry) shortly, CoinDCX has a substantial scope of growth in the coming years. The core team is already visible in the media and may be successful in grabbing the attention of the country’s masses which will help the exchange immensely.

CoinDCX Review 2021 – Should it be Your Choice? (An Indian Exchange)
  • Is CoinDCX Safe?
  • What all features does CoinDCX offers?
  • What are the pros and cons of CoinDCX Exchange?

Today, we have brought to you yet another review of growing Indian crypto exchange called CoinDCX. CoinDCX is a Singapore-based company that has a user base predominantly in India (in India, the CoinDCX office is located in Mumbai, Maharashtra). Despite the skepticism of Indian Authorities towards cryptocurrencies, CoinDCX has survived and is growing at a good pace. Though its trading volume is far away from its competitor (i.e. WazirX, read our full review on WazirX here), the exchange can be considered for the features and security it provides to its users.

In this article, we will discuss everything about CoinDCX, from its features and benefits to its limitations. But first thing first, let us understand the foundation and history of the exchange.

CoinDCX was launched on April 7th, 2018 with an aim to provide a user-friendly experience where users can access a wide range of financial products and services backed by industry-leading security processes and insurance protection. CoinDCX is an ISO-certified company that provides decent liquidity with a fast onboarding process in the industry. Further, the exchange partners of CoinDCX are Binance (which is the world’s largest crypto exchange), Huobi, and Okex.

The exchange has just finished its 3rd round of funding in December 2020 with total funds raised worth USD 19.4 Million from companies such as Coinbase Ventures(the investment arm of San Francisco, US-based cryptocurrency trading platform Coinbase), Polychain Capital, Bain Ventures, Bitmex, Mehta Ventures, and Alex Pack, etc.

The exchange offers more than 200 different cryptocurrencies including Bitcoin, Ethereum, and other Altcoins with an average 24-hour trade volume of USD 2.5 Million (approx.).

CoinDCX trading volume

Now, let us know about the men behind the veil working for CoinDCX.

Founders of CoinDCX Exchange

Sumit Gupta (CEO) – Twitter

Sumit Gupta CoinDCX

Sumit Gupta is the Chief Executive Officer (CEO) and co-founder at CoinDCX. After finishing his graduation and post-graduation from IIT Bombay in India, he joined Sony in Tokyo. He invented India’s first location-based online marketplace (ListUp) which became a multimillion-dollar startup within a year. Sumit is a known name in the Indian Crypto Community.

Neeraj Khandelwal (CTO) – Twitter

Neeraj Khandelwal CoinDCX

Neeraj Khandelwal is the Chief Technology Officer (CTO) and co-founder at CoinDCX. He is an engineer by profession who leads the technical development of all the CoinDCX products. He graduated from IIT Bombay, India in Electrical Engineering in 2012. Under his technical leadership, DCX is exponentially growing across the globe with a variety of crypto instruments available to trade for users.

The CoinDCX team is a good blend of people from the software industry and traditional financial markets. Thus, this team has a good potential to take this exchange to new heights.

Now as we already know about the management team, let us talk about what does this exchange offers in terms of its features.

Features of CoinDCX Exchange

There a number of features that CoinDCX offers. I have tried to consolidate them as follows:

Features of CoinDCX Exchange

Types of trades offered by CoinDCX

The exchange offers Spot Trading, Margin Trading, and Futures Trading to its users. A margin trade can be levered up to 6X on CoinDCX. However, leverage for a futures contract is allowed up to 20X.

Instant Deposit and Withdrawals (deposit and withdrawal of fiat currency)

The “Insta” feature on CoinDCX allows a user to buy cryptocurrencies with Indian National Rupee (INR). Please note that CoinDCX does not support any fiat currency other than the INR. The minimum buy or sell limit per transaction is INR 1 and the maximum buy or sell limit per transaction is INR 1,00,000.

The lending of cryptocurrencies

“Lend” is a lending platform where users can earn interest through cryptocurrencies that they hold in their CoinDCX account. The user will receive his or her interest in the same cryptocurrency as his or her principal amount. If you lend BTC, the interest you receive will be in BTC.

CoinDCX - Lend Feature

All the locked cryptocurrencies are stored in geographically distributed cold wallets which are ensured DDoS protection, regular stress testing measures, and multi-signature authentications to ensure cutting-edge security.

There are a number of cryptocurrencies that can be lent through the exchange. For the complete list of such tokens, click here.

Coin Staking

A CoinDCX user can stake their cryptocurrencies on the exchange and earn staking rewards on the same. Currently staking feature is available on 7 coins.

Coin DCX - Staking Feature

Sub Accounts – Manage multiple accounts from one

CoinDCX has sub-accounts that allow you the option to split up your positions. You can create new sub-accounts, switch which sub-account you’re using, and transfer funds between sub-accounts. Therefore, you can create separate accounts for your trading and investing activities.

User Interface and Mobile Application

The trading view of the exchange is very interactive and user-friendly. The view will help you to trade comfortably without any hassles.

CoinDCX - Trading View

The exchange has a mobile application for android and iOS devices to keep the user updated on the go. The app is fully functional and if you enjoy trading on mobile, the app will keep you engaged. There are more than 100K downloads on the app store with an average rating of 4.6.

CoinDCX-Go

What are the Transaction Fee and Transaction limit for CoinDCX?

There are no deposit charges for deposit of fiat currency i.e. INR. For Non-KYC users, the deposit amount is limited to INR 10,000 only. For more details on the deposit click here.

The limit for withdrawal in Fiat currency (INR) is as follows:

Particulars KYC user Non-KYC user
Minimum Value INR 500 per transaction INR 500 per transaction
Maximum Value INR 500,000 per day INR 10,000 per day

The limit for withdrawal in Cryptocurrency is as follows:

Particulars KYC user Non-KYC user
Deposit No Limit The Maximum (deposit + withdraw) limit is 4 BTC per day
Withdrawal No Limit The Maximum (deposit + withdraw) limit is 4 BTC per day

The withdrawal fee is variable depending on the amount and type of cryptocurrencies being withdrawn. For more information on the withdrawal fee, click here.

The trading fee is also variable and is dependant on the club level assigned to you by the exchange. For more information on the trading fee, click here.

How secure is CoinDCX?

CoinDCX is a fairly secure exchange and the core team follows the following principles:

CoinDCX - Security

The exchange has uses geographically distributed cold wallets, DDoS protection, regular stress testing measures, and multi-signature authentications to ensure better security.

The Cold wallets mentioned above are completely offline and their multi-signature feature prevents a single point of failure and improves the resilience against the loss of funds on the loss of private keys.

Further, all the funds are insured by BitGO, including users’ cryptocurrencies held on MultiSignature cold wallets thus insuring them to an extent.

CoinDCX KYC Requirements

A user can trade on CoinDCX without submitting his/her KYC documents. However, there are limits to Deposits and Withdrawals as mentioned above.

KYC procedure of the CoinDCX exchange is fully automated in partnership with Onfido (a global leader in artificial intelligence for identity verification and authentication).

Social Media Presence

CoinDCX has a decent social media presence along with global coverage by traditional (Mint, Times of India, CNBC, Medianama, Inc42, Financial Express, Economic Times, Nasdaq, etc.) as well as crypto media houses (Cointelegraph, Coindesk, Coinpost, Blockchain News, etc.).

So, evidently this exchange has no less than any bigger exchange when it comes to the features. Now, let us summarise the pros and cons of using CoinDCX.

Benefits of CoinDCX Exchange

The benefits of the exchange can be pointed as follows:

  • The exchange has a user-friendly interface and a fully functional mobile application
  • CoinDCX has substantial Community and Social media presence
  • The exchange has renowned investors base which gives the exchange an ample amount of credibility and user confidence
  • The exchange provide sufficient amount of liquidity to the users for the purpose of Margin Trading and Futures Trading

Limitations of CoinDCX Exchange

There are some areas which CoinDCX should try to improve upon, such as:

  • The exchange only supports one fiat currency i.e. Indian National Rupee (INR)
  • Trade volume is fairly low in comparison with the top exchanges in the crypto market
  • The legal framework of Cryptocurrency trading in India is not clear. However, the situation is expected to improve in India as authorities are looking towards possible benefits that can be derived from blockchain technology. Though CoinDCX is registered outside India, its major user base is in India. Therefore the Indian jurisdictional risk may pose a risk of business continuity to CoinDCX Exchange.

Conclusion – CoinDCX Review

As per my understanding, CoinDCX is fairly loaded with all the major features. However the adoption of exchange is yet awaited from the user side. Further, the exchange can work on the various limitations I have mentioned above.

Create a free account on CoinDCX

Nonetheless, as crypto adoption is increasing in India and the authorities may clarify the legal framework of the cryptocurrencies (hopefully in favour of the industry) shortly, CoinDCX has a substantial scope of growth in the coming years. The core team is already visible in the media and may be successful in grabbing the attention of the country’s masses which will help the exchange immensely.