Cryptocurrency has developed a crazy fan base in India for the past two years. The digital currency was introduced a decade ago, but Indians were not familiar with it until 2012. Most Indians got to know about crypto and it’s uses after various exchange platforms started to emerge in the Indian Market. CoinSwitch was one such crypto exchange which launched in 2017. The 2018 chaos about a crypto ban forced CoinSwitch to go global. But it was back in 2020 with an India-exclusive crypto exchange called CoinSwitch Kuber.
What is CoinSwitch Kuber ?
CoinSwitch Kuber is a safe, user-friendly crypto exchange platform designed for Indian users specifically. One can trade more than 100+ crypto on the platform. The exchange offers the pooled liquidity of various leading Crypto platforms in India at the most attractive prices. The specific India-based exchange of CoinSwitch was launched in June 2020, a few months after the supreme court ruled against the ban. It was developed by Ashish Singhal along with his co-founders Govind Soni and Vimal Sagar Tiwari.
How to get started on Kuber :
CoinSwitch Kuber prioritises mobile app Trading. And since the base of the platform is to make Crypto easy for Indians, it is very simple to create an account on Kuber.
Following are the steps to create an account on CoinSwitch Kuber :
- Visit the official website of CoinSwitch Kuber or download the app.
- On the website, enter your phone number to get a download link. If you’re using the app, Register using a phone number.
- Download Kuber using the download link from the website
- Enter the OTP received on the phone number
- You’ll be asked to set a 4-digit pin
- Confirm the pin by re-entering it
- Your account is created successfully
- After the ID is created, enter your user name, email and date of birth.
- Provide a copy of your PAN card and AADHAAR card
- Enter your bank details and you’re good to go.
That is how easy Kuber makes it for you to open an account.
Features of Kuber :
- The user interface is simple and easy for beginners. This was created to make crypto introduction easy for Indians who have just started learning about it.
- The app supports more than 100 cryptocurrency including bitcoin, Ethereum, ripple, etc. This provides a wide variety of choices for traders to trade in.
- CoinSwitch Kuber pools the liquidity from leading crypto exchanges from India and allows its users to trade cryptocurrencies at the best rate.
- Kuber provides the best rates by pooling liquidity across Indian and global exchanges.
- It has a zero fees policy which implies one can trade, deposit or withdraw For the first 100 days at free.
Pros of using Kuber :
- The user-friendly interface is ideal for all new investor’s as well as the experienced one.
- The platform supports trading, deposit and withdrawals using INR.
- There are no transaction limits unless there are some suspicious transactions.
- Kuber supports a variety of modes of payment including IMPS bank deposits, NEFT, and UPI.
- The customer service is highly responsive and satisfactory.
Cons of Kuber :
- The platform is based only in india and supports only one fiat currency, i.e. INR.
- The platform does not support common modes of payment like debit card and credit card.
- Kuber is not specifically designed for day-trading. It mostly exists for buying and selling cryptocurrency.
- The users find a slight delay between the actual prices and the prices listed on Kuber.
- The security measures are not clearly defined by the crypto company.
Conclusion: Is Kuber The Best Indian Crypto Exchange ?
Kuber is certainly one fine exchange platform backed up by a 4 year experience of CoinSwitch. It has more than 7.5 million users and is built with trust and the hard work of the prominent founders. The trading fees are low and the app is surely user-friendly, but it is a basic app. CoinSwitch Kuber is only here to serve the starting needs of any beginner, it surely cannot cater to the institutional traders or experienced investors. Day trading is not an option with Kuber and it also doesn’t have the facility to store or hold money. So CoinSwitch Kuber might be a go-to Platform for beginners to understand the basics of crypto, it might not be for a long time trading.
For anyone who is a pro and advanced crypto trader, I would recommend looking into exchanges beyond Coinswitch. You can try Wazirx exchange, or CoinDCX.
Let us know which crypto exchange you like the most.