CoinSwitch Review
- Extensive array of cryptocurrencies supported
- Large number of trading pairs
- Large selection of crypto exchanges
- Intuitive trading platform
- Not regulated
- Limited information regarding trading fees
- Not well established
CoinSwitch is a very large and successful global cryptocurrency exchange that aggregates all of the price data from the world’s leading cryptocurrency exchanges to provide traders with the best possible prices. The exchanges CoinSwitch has partnered with include; Changelly, KuCoin, Bittrex, Cryptopia, ShapeShift, Changer, HitBTC, LiveCoin, and Idex. CoinSwitch supports over 300 cryptocurrencies on their platform and features more than 45,000 cryptocurrency trading pairs. The CoinSwitch crypto exchange was only recently established in 2017 and is headquartered at Prestige Obelisk, Bangalore, Karnataka, 560001 India. As CoinSwitch is a very new crypto exchange and based out of India, we remain skeptical of their services. Also, CoinSwitch is not licensed or regulated by any reputable regulatory authorities. However, almost no cryptocurrency exchanges are regulated. While CoinSwitch is viewed as a rather skeptical cryptocurrency exchange, it has generated a lot of hype recently and is gaining traction among many users. Therefore, we have conducted an in-depth review of this lucrative new cryptocurrency exchange. So, read on and discover what CoinSwitch has to offer and whether or not they can be trusted.
Trading Platform
CoinSwitch provides their users with a web based trading platform that compiles different prices from various cryptocurrency exchanges and displays it on their platform interface. The platform is fairly simple and easy to use and provides a selection of favorable cryptocurrency prices for users to choose from. Therefore, the platform really is great for both beginner and experienced cryptocurrency traders. However, one aspect of the platform in which experienced traders will not appreciate is that they cannot conduct extensive technical analysis on price charts, execute advanced order types, and view other trading information such as order books, trade history, and trade volume. However, traders can find favorable exchange rates on their favorite cryptocurrencies.
Once a user browses through and selects an offer for their selected crypto trading pair, they simply provide their personal crypto wallet receiving address. Once the transaction is facilitated, the crypto funds will be sent directly to the users wallet rather than being stored in the exchanges wallet. Therefore, CoinSwitch can be viewed as more secure than other traditional cryptocurrency exchanges. All in all, the trading platform does exactly what it’s meant to do very well. The entire trading experience is fast, easy, and convenient.
Exchange Markets
CoinSwitch provides cryptocurrency traders with a wide array of crypto assets that can be bought, sold and exchanged for one another. In total, over 300 cryptocurrency assets are supported on the CoinSwitch exchange. However, not every single crypto asset supported by CoinSwitch is supported on all of their exchange partners. Therefore, some crypto assets have more price selection than others. Many of the cryptocurrencies supported by the CoinSwitch exchange can be interchanged with one another, making for over 45,000 possible cryptocurrency pairs. Also, a feature that was only recently implemented is the ability to buy Bitcoin (BTC) with credit card. Therefore, CoinSwitch is a highly versatile and capable cryptocurrency exchange.
Fees and Commission
CoinSwitch charges their users trading fees that range between 0% – 0.75% per trade, depending on the exchange being used. Also, this fee is in addition to whatever fees that the exchange the user chose charges. Therefore, CoinSwitch users are paying the fee that’s charged by the partnered exchange plus the 0% – 0.75% CoinSwitch fee. However, this additional fee is justifiable to many users because by using CoinSwitch they are able to browse through all of the available rates and choose the best one. Also, CoinSwitch does not require any personal identification information and users do not need to sign up to numerous crypto exchanges to find the best rate. All in all, the fees imposed by CoinSwitch are very reasonable and can be lower than many other cryptocurrency exchanges but are more expensive than some.
Security and Fairness
CoinSwitch appears to be a legit cryptocurrency exchange with safe and secure services. CoinSwitch never stores the users crypto funds as they are sent directly to the wallet address the user provides. Therefore, the users cryptocurrency assets are safe from potential hacking attempts and so on. Another security feature is that users are not required to provide personal identification information. Therefore, there is no risk of having this sensitive data stolen and users can remain anonymous. As for other security measures and features, CoinSwitch does not provide any information regarding this. All in all, CoinSwitch has thus far proven to be a secure and reliable cryptocurrency exchange and is trusted among many users in the cryptocurrency industry.
Support
The customer support provided by CoinSwitch is said to be very good. Customers can contact support via a support ticket system that’s available 24 hours a day, 7 days a week. The support received via this method is very fast with responses generally taking no more than 12 hours. Additional methods of support include contact through the CoinSwitch’s social media channels including; Twitter, Facebook, Reddit, Telegram, YouTube, and Instagram.
Conclusion
CoinSwitch is a unique cryptocurrency exchange that provides their clients with a great deal of options when it comes to exchanging cryptocurrency assets. Traders can choose from various prices provided by a number of global cryptocurrency exchanges. CoinSwitch is a great crypto exchange solution for both beginner and experienced traders as the exchange supports a wide variety of trading pairs and crypto assets as well as favorable pricing for traders to choose from. CoinSwitch features reasonable trading fees and an easy to use and intuitive trading platform. All in all, CoinSwitch is a viable cryptocurrency exchange solution for finding the best possible rates on numerous crypto trading pairs.
CoinSwitch Q&A
The following are the common questions that customers inquired about CoinSwitch.
Is CoinSwitch regulated?
No, it is not regulated.
Is CoinSwitch a scam?
No, CoinSwitch is a legit cryptocurrency exchange that’s partnered with global leading crypto exchanges.
Where is CoinSwitch based?
CoinSwitch is based at at Prestige Obelisk, Bangalore, Karnataka, 560001 India.
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