CoinSwitch is a cryptocurrency aggregator based in India and was founded in 2017. It allows its users to trade more than 500 cryptocurrencies across over 45,000 currency pairs. CoinSwitch also integrates a number of leading exchange platforms around the world into its system to offer no trading limits and fast execution on some of the most popular tokens and coins today.
CoinSwitch: What Is It?
CoinSwitch is a top-rated crypto exchange and is, basically, an all-in-one platform where people can trade cryptocurrencies across different exchanges. It has access to over 500 cryptocurrencies. If you want to trade with CoinSwitch, here’s a breakdown of the things that you can do.
- Use CoinSwitch’s platform in comparing exchange rates offered by different cryptocurrency exchanges for you to find the best rate.
- After finding the best rate, choose the currency pair you want, and enter your desired exchange amount.
- Using the order ID provided by CoinSwitch, track your order.
Cryptocurrencies Available In CoinSwitch
CoinSwitch’s platform allows its users to buy and sell over 500 cryptocurrencies, including the following:
- Verge
- VeChain
- Ripple
- NEO
- Monero
- Litecoin
- Ethereum Classic
- Ethereum
- Dash
- Cardano
- Bitcoin Cash
- Bitcoin
You can check out CoinSwitch’s FAQ section to see the complete list of the cryptocurrencies you can trade on the platform.
Available Countries
The good thing about CoinSwitch is that it’s a global platform for cryptocurrency exchange. It offers services to users from different parts of the world. However, like almost every other exchange, it places restrictions on citizens from certain countries. According to this CoinSwitch review, the following countries can’t access CoinSwitch: The US, including all of its territories, Pakistan, Afghanistan, Syria, Sudan, North Korea, Iran, and Cuba. Sometimes, cryptocurrency traders from these places use a VPN or a virtual private network to access CoinSwitch’s exchange platform.
Which Payment Methods Does CoinSwitch Accept?
While it’s possible to exchange funds on CoinSwitch’s platform using any cryptocurrency token or coin it supports, it doesn’t accept deposits of fiat currency.
How Does CoinSwitch Work?
The majority of exchange platforms for cryptocurrencies only let their users buy or sell coins. However, they don’t allow users to replace one specific coin for another. For example, if you got Bitcoin in your wallet and you want to trade it with Ethereum, they don’t allow you to do trading in the way. With CoinSwitch, however, you can trade for other coins since it supports over 500 cryptocurrencies, albeit without involving cash.
This procedure, of course, saves you a lot of money and time, especially if you really want to convert one crypto coin to another. Say, for example, you desire to convert Bitcoin to Ripple. You’re going to pay a substantial amount for the fee when selling Bitcoin, and when buying Ripple, you’re going to have to pay a hefty price for that, too. Again, traders of today are lucky because of exchanges, like CoinSwitch, that let them trade one specific coin for others directly with the best possible rates.
Another good thing about CoinSwitch is that it doesn’t require you to create an account before exchanging your coin. What this means is that the platform offers complete anonymity to users. CoinSwitch doesn’t request for personal information and other related documents for you to create an account and exchange coins.
Transaction Fees
Depending on the exchange platform you’re going to select for your transaction, CoinSwitch will charge a fee of 0% to 0.49%. The conversion rate you’ll see is already inclusive of the fees. However, please take note that these fees don’t include any amount that the exchange platform will charge itself yet, as well as the network fee.
What’s The Maximum And Minimum Deposit At CoinSwitch?
CoinSwitch doesn’t restrict the amount you can deposit, unlike other exchange platforms that actually set limits on maximum and minimum amounts. As long as the amount you’re going to deposit covers the network fees, then, you can trade using this platform. This clearly shows that whatever amount you’re sending and getting must cover network fees. What happens if the funds can’t include fees or are insufficient is that the transaction could fail. Users will see a message saying that the transaction failed when funds are insufficient.
Customer Support
If ever you encounter problems with your account or have a question about CoinSwitch’s platform, you can always reach out to them by emailing their support team. According to CoinSwitch, email requests will typically get a response within twelve hours.
CoinSwitch also has a comprehensive list of FAQs or frequently asked questions that users can access. It also provides an online exchange tutorial to users while giving them the chance to seek further assistance through the platform’s live chat feature.
Conclusion
CoinSwitch is a cryptocurrency converter that allows users to convert over 500 cryptocurrency coins into another. It also provides users the best possible rates from major exchanges. It’s one of the largest cryptocurrency trading platforms available today. CoinSwitch’s user-friendly platform and anonymity features are what make it one of the best, if not the best place, for cryptocurrency investors to perform trading.
