The Supreme Court made an iconic decision in the early part of the year 2020 allowing Cryptocurrency trading in India. With that, many people in India have legally started trading in cryptocurrencies. Due to this, the number of international and Indian cryptocurrency exchanges has seen a rapid increase. However, like the stock and share market trading, cryptos are also unpredictable. It is essential to choose a safe and trusted platform for trading because it safeguards your personal data and crypto assets. There are many crypto exchanges and platforms in India and one of the best among them is CoinSwitch. Read below to know why it is the best choice for crypto investment in India:
Safety of Funds
The foremost thing to check in a cryptocurrency platform is fund security. Since you are going to make a deposit you should know if your money is safe and secure. There have been many instances of trading platforms going bankrupt which means investors losing their hard-earned money. CoinSwitch is a stable, reputed, and well-funded platform where your deposits are safeguarded. The company is funded by leading venture capitalists like Sequoia Capital and the founders are all based out of India. But having said that, take some time to go through the platform’s website to know more about it.
Security Features
One of the biggest concerns in cryptocurrency trading is the security aspect of it. The crypto platform that you are choosing should have the best and the latest security features to avoid any mishaps. CoinSwitch has ensured that they make use of all the advanced features to make it a secure platform for trading. The exchange’s security protocol is robust and hence users can do their business without any fear. However, there is a need for users to ensure that they do not reveal personal identification without due diligence.
Another challenge in the crypto industry is that there are many fly-by-night schemes that can loot the investors. CoinSwitch ensures that such frauds do not happen by allowing only reputed tokens.
Tokens Support
Another important criterion that makes CoinSwitch a good platform to trade is the fact that they support more than 100 cryptocurrencies. Most exchanges support only the top few like Bitcoin, Etherium, etc but there is more to digital currencies than only these. Every investor in this market knows that there is a huge list of altcoins that are considered stable and a good investment option. So using CoinSwitch for trading means that you can opt from any of these and manage the risk better. But before you signup as an investor make sure to check out the tokens that you are intending to purchase are supported.
Easy Interface
If you are new to the world of cryptocurrency or are an expert trader, choosing easy to use platform is of utmost importance. The trading platform which is complex can lead to mistakes that can cost the user dearly. Hence a user interface should be seamless, fast, and easy to use. CoinSwitch scores even in this aspect as the user interface is simple and can be operated by people new to the market or by experts. Also, they have responsive customer support who can help you with any queries.
More reliable Methods of Purchase
Different platforms use different modes of purchase of cryptocurrencies. Some of them use credit and debit cards only, others use only cryptocurrencies for making purchases, etc. If you do not have any prior altcoins or are not comfortable using your credit or debit cards then it becomes a problem to do trading. CoinSwitch eliminates this problem by providing 2 safe modes of purchase, UPI and NEFT.
Trading Fees
CoinSwitch provides low and competitive trading fees for its investors. These fees are applied whenever you make a trade, buy or sell, and hence it has to be economical. Some of the other leading platforms have high trading fees and over time it can add up to a sizeable amount that can reduce your savings. Additionally, unlike other exchanges, CoinSwitch has no hidden charges so what you see is what you get.
Cryptocurrency exchanges are all different with different features, user experiences, fees, and more. CoinSwitch is a cryptocurrency platform that has the best security features, easy to use interface, low trading fees, support for many altcoins, fast transactions, and has a good reputation in the market. So if you are looking for a cryptocurrency trading platform, CoinSwitch is your answer!