If you are looking to buy cryptocurrencies you need to pick up an Indian app that can support your exchange needs. There is a number of options out there in the market. However, CoinDCX or CoinSwitch Kuber is the most renowned names. Both have been in existence for a while. They also have native apps of their own on Google Play Store and Apple App Store respectively.
Let us compare the two platforms closely so as to get a better understanding of what each one offers:
Introduction of New Coins:
As per CoinSwitch CEO, Kuber Biswas, they add new ones every week whereas DCX does it once a month. This means a newly introduced coin in the market will be first available on CoinSwitch Kuber.
The flexibility of Exchange:
With CoinSwitch, you can book your transaction on the basis of the mid-market price and it is not fixed like in the case of CoinDCX. This leaves room for better profits on your part as compared to CoinDCX where the difference between ‘Buy’ and ‘Sell’ rates can be minimal at times.
Number of Currencies Supported:
While both CoinSwitch and CoinDCX support multiple currencies, but CoinSwitch presently supports 53 cryptocurrencies while DCX has 51 only. So if you were planning to exchange a specific coin that is not supported by one of them then you will have no choice but to use the other Indian app.
While there are many users who have not faced any kind of customer support-related issues with CoinDCX, there are some who did face them. However, CoinSwitch Kuber has better customer care executives to provide you with assistance in case of any problems or queries.
When it comes to transaction fees then the difference is quite notable. While CoinDCX charges 0.15% for buying and selling cryptocurrencies, the same with CoinSwitch is only 0.1%. This means that you get to save ₹150 per every 10,000 rupees worth of cryptocurrency purchased or sold.
Wrapping it up:
In conclusion, both the exchanges have their own pros and cons, but at the end of the day it all boils down to what your specific needs are as an individual or a business.
If your requirement is limited to trading between different cryptocurrencies then CoinSwitch Kuber will be an easy choice. However, if your needs are far more extensive like wanting to buy lesser-known altcoins then CoinDCX would be a more viable option.