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CoinDCX Cryptocurrency Exchange Review : Scam Or Reliable Exchange

About CoinDCX

Coindcx Is India Largest CryptoCurrency Exchange With 30 Pair Of Crypto Assets. It Is Operate From Mumbai India . Being a pure crypto exchange, it doesn’t deal with fiat currencies at all. CoinDCX is a cryptocurrency exchange that lets Indian residents buy and sell over 30 crypto trading pairs. Even though CoinDCX does not handle fiat currencies like Indian rupees (INR), its users can place buy or sell orders, track their portfolio and check crypto asset prices in an INR equivalent. The only thing you can’t do is buy or sell crypto assets in INR.

Coindcx are a team of passionate blockchain enthusiasts based out of India, aiming to bring everyone closer to the next digital revolution by building India’s most advanced Digital Asset Exchange. Coindcx felt the need for better exchanges in India that matches international standards in terms of Security, Trading Experience and Support, hence Coindcx built it ourselves and mark India’s presence in global blockchain ecosystem.

Coindcx mission is to create the most Transparent, Secured and Trusted exchange so that their users can trade peacefully while Coindcx do the work. Coincx have carefully designed the product which takes care of all your trading needs and provides you most advanced trading experience in the most intuitive manner.

How To  Start With Coindcx

To start trading with CoinDCX, Indian residents first have to sign up for an account by following the steps below.

Step 1. Click on the “Login/Signup” link on the top right hand corner of the CoinDCX website.

Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.

Step 3. If you have a referral code, enter the code while creating your account.

Step 4. Submit the form and wait for an activation email to be sent to you.

Step 5. Click on the “confirm email” link in the activation email.

Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your CoinDCX account

Step 7. The next step is to complete your Know Your Customer (KYC) verification, for which you need to upload soft copies of your Permanent Account Number (PAN) and your Aadhaar ID card.

Step 8. CoinDCX Promise that they carry out KYC verification within the same day of the uploading soft copies of relevant documents.

After CoinDCX verifies your details, you can start trading on the exchange. The first step to start trading is to deposit either BTC or ETH into your CoinDCX wallet. After you do so, you can go ahead and buy or sell any of the cryptocurrency pairs that CoinDCX offers.

How To Deposit Fund On CoinDCX

Following are the steps to deposit crypto tokens on CoinDCX:

  • Login to your KYC verified CoinDCX profile

  • Click on “Portfolio” option on the top right of your trade page.

  • Click on “Deposit Coins” on the left side of the page.

  • You will see your wallet address.

  • On the other platform from which you wish to deposit you can copy the above wallet address.

  • You can also scan the QR code to avoid typing errors to directly copy the wallet address.

  • Once you click the “Send” button after putting the correct wallet address on the other exchange, you shall receive the crypto in your CoinDCX wallet.

Trading Fees

Trading fees: These are charged on a “per-trade” basis and are 0.10% for all buy orders and 0.10% for all sell orders.

Withdrawal fees: On its pricing page, CoinDCX mentions that they may adjust their withdrawal fees regularly depending upon blockchain conditions. However, their withdrawal fees at the time of writing are listed below.

Withdrawal Fees:

TokenMinimum Withdrawal LimitWithdrawal Fees
Request (REQ)20 REQ10 REQ
Basic Attention Token (BAT)12 BAT6 BAT
Ethereum (ETH)0.006 ETH0.003 ETH
OmiseGO (OMG)0.3 OMG0.15 OMG
Kyber Network (KNC)2 KNC1 KNC
Status (SNT)30 SNT15 SNT
district0x (DNT)40 DNT25 DNT
Monaco (MCO)0.5 MCO0.25 MCO
ICON (ICX)1.6 ICX0.8 ICX
Cindicator (CND)50 CND25 CND
EOS (EOS)0.3 EOS0.15 EOS
Tron (TRX)60 TRX30 TRX
DigixDAO (DGD)0.02 DGD0.01 DGD
Ripple (XRP)20 XRP0.01 XRP
Litecoin (LTC)0.02 LTC0.01 LTC
Bitcoin (BTC)0.001 BTC0.0005 BTC
Zilliqa (ZIL)40 ZIL20 ZIL
Indian Rupee (INR)1000 INR0 INR
Golem (GNT)10 GNT3.6 GNT
0x (ZRX)3.5 ZRX1.9 ZRX
Bluzelle (BLZ)7 BLZ3.5 BLZ

What are Open orders, Dealt orders, Reserved Assets?

Open order: 

An order you have placed that has not been completed yet. So you can cancel your open orders under the “open orders” section below the Buy/Sell Window, and review your successful orders under the “Orders” Section.

Dealt orders: 

Orders that have been succeeded already.

Reserved Assets:

An order you have placed that has not been completed yet or you have a withdrawal. just cancel the orders below the “Open Orders” or cancel your pending withdraw.

Transfer Limits

CoinDCX’s website does not mention any transfer limits, but claims to have high liquidity. It’s recommended that you contact customer service to get more clarity.

The following minimum withdrawal limits apply.

TokenWithdrawal limit
Basic Attention Token (BAT)12 BAT
Bitcoin (BTC)0.001 BTC
Cindicator (CND)50 CND
DigixDAO (DGD)0.02 DGD
district0x (DNT)40 DNT
Ethereum (ETH)0.006 ETH
EOS (EOS)0.3 EOS
ICON (ICX)1.6 ICX
Indian Rupee (INR)INR1,000
Kyber Network (KNC)2 KNC
Litecoin (LTC)0.02 LTC
Monaco (MCO)0.5 MCO
OmiseGO (OMG)0.3 OMG
Request (REQ)20 REQ
Ripple (XRP)20 XRP
Status (SNT)30 SNT
TRON (TRX)60 TRX
Zilliqa (ZIL)40 ZIL

CoinDCX Unique  Features

Trusted and Secured: CoinDCX uses multi-signature authentication and “best in-class security” to keep your funds secure 24 hours a day. Funds are kept in secure offline cold storage wallets to prevent hacking.

Fast Customer Service: CoinDCX puts a big emphasis on customer service, claiming they offer 24 hour response times and fast resolutions to your requests.

30+ Pairs: Traders can trade 30+ cryptocurrency-to-cryptocurrency pairs over the CoinDCX platform.

Low Trading Fees: CoinDCX charges a flat trading fee of 0.10% to makers and takers. That’s relatively low compared to other cryptocurrency exchanges.

Fast KYC Verification: CoinDCX claims to offer fast KYC verification that allows traders to get started today. No more waiting several days for your KYC verification to be complete.

Referral Program: CoinDCX has a referral program that allows you to invite friends to CoinDCX and get a flat 50% cut of their trading fees instantly.

Is it safe to use CoinDCX?

CoinDCX enforces two-factor authentication (2FA) to protect your account. So users have to verify that they actually are the account holder before they can log in. The use of 2FA means you get extra security against any hacking attempts. It also helps in decreasing the risk of identity theft.

Teams Behind CoinDCX

Sumit Gupta- Co-Founder & CEO, CoinDCX

Sumit is a 27-year-old serial entrepreneur and hard core believer in blockchain and cryptocurrencies. After completing his bachelors and masters degree from IIT Bombay in 2014, Sumit joined Sony HQ in Tokyo as Software Engineer. Sumit has also founded multi-million dollar company — ListUp and led a team of 30+ people, having more than a million active users. Sumit has been closely following crypto space for more than an year now and has been an active crypto investor. His passion for building successful tech companies with solid business, deep understanding of the blockchain technology, and lack of advanced crypto trading platforms in India tempted him to build India’s best Digital Cryptocurrency Exchange for coins, CoinDCX.

Neeraj Khandelwal- Co-Founder & CTO, CoinDCX

Neeraj has been associated with startups for more than 3 years, having core positions in multi-million dollar startups such as VP Engineering at Holachef and CTO at Doormint leading a team of 20+ talented developers. Neeraj and his team of experts have extensive technical experience in blockchain development. He specializes in building large-scale web applications with demanding throughput and availability. Neeraj is also a hard-core believer in blockchain and it’s real-world applications.

Bhavishya Garg- Product Design & Growth

UI/UX Designer & Growth Hacker with 5 years of experience in helping over 45 startups across India, USA and Australia. Specialising in designing delightful experiences for digital products that knit closely with the business goals using conversion optimisation, lean data-driven design, rapid prototyping and user research.
Specialities:
User Experience Design (UX), Design Strategy, Project Management, User Research, User Centered Process, Interviewing users, Persona Building, Information Architecture, Wireframing / Prototyping, Usability Analysis, Web/ Mobile Design, User Behaviour Analysis, Data Analytics, Sales Funnels and CRO.
Developed 10 Mobile Apps and numerous websites for clients or otherwise.
Microsoft Certified Professional with “Microsoft Certified Solutions Associate” and “Microsoft Specialist: Azure Infrastructure” certifications.

Bharat Ramnani- Development

Frontend Developer with a heart of UI/UX Designer, with more than 18 months of experience in working with 2 startups. I design and develop pixel perfect experiences for users.

Designed over 4 professional projects from scratch and have helped companies to improve their overall products. Developed 4 mobile apps and over 10 websites for companies, clients or otherwise.

Familiar with technologies and languages like HTML5, CSS, JavaScript, Angular, LESS, SASS, AMP, Git, Gulp, Grunt, Webpack, NodeJs, Python, Java, C++, C#, SQL, Bootstrap, WordPress etc.

Sandeep Maurya-Development

Senior Software Engineer at CoinDCX.Familiar with technologies and languages like HTML5, CSS, JavaScript, Angular, LESS, SASS, AMP, Git, Gulp, Grunt, Webpack, NodeJs, Python, Java, C++, C#, SQL, Bootstrap, WordPress etc.

Coindcx Customer Support

You can get access to customer support at CoinDCX through a customised ticket system. To raise a query, enter your name, email address, write a brief description and one of the listed categories in a drop-down menu and submit the ticket.There is also a frequently asked questions (FAQ) section which addresses most basic queries. In addition, you can send an email at [email protected]

CoinDCX Conclusion

CoinDCX is a new cryptocurrency exchange serving the Indian marketplace. The goal of the exchange is to offer cheap (0.10% trading fee), fast, and secure crypto-to-crypto trading across 30 popular pairs. The exchange was launched in April 2018 and is ready to accept traders.

 

50%
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CoinDCX Cryptocurrency Exchange Review

Coindcxare a team of passionate blockchain enthusiasts based out of India, aiming to bring everyone closer to the next digital revolution by building India’s most advanced Digital Asset Exchange. Coindcx felt the need for better exchanges in India that matches international standards in terms of Security, Trading Experience and Support, hence coindcx built it ourselves and mark India’s presence in global blockchain ecosystem.

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Awesome

CoinDCX Cryptocurrency Exchange Review

Coindcxare a team of passionate blockchain enthusiasts based out of India, aiming to bring everyone closer to the next digital revolution by building India’s most advanced Digital Asset Exchange. Coindcx felt the need for better exchanges in India that matches international standards in terms of Security, Trading Experience and Support, hence coindcx built it ourselves and mark India’s presence in global blockchain ecosystem.

  • Design