Inside CoinSwitch
2 Nov 2021

Is Coinswitch Exchange safe to Invest? Know How Safe & Secure

Akumbenla Jamir

Yes, investing in CoinSwitch is safe and secure. We’re not starting with some catchy intro or beating around the bush because we want to get straight to the point – you have nothing to worry about here!.

For those who are not familiar with CoinSwitch, we’re a cryptocurrency exchange platform made in India, for Indians.

In 2017, our founders realized the need for an easy way to find the best price across multiple exchanges for Indian crypto traders, and viola! CoinSwitch Kuber came to life. We began operations in India in June 2020, and have since made Crypto investing as easy as ordering food online. Check the BTC to INR rate to see how much Bitcoin is trading at today.

Crypto traders can easily find the best exchange rate and it is super easy to buy or sell coins at your convenience. Today, CoinSwitch is India’s largest cryptocurrency exchange platform (Not our words😜) and we have more than 10 million users who’ve chosen us as their Crypto partners!

Buy crypto for just ₹100.

Is CoinSwitch Kuber Safe?

Whenever we try something new, our first reflex as humans is to worry about our safety. This feeling is amplified when it comes to something as complex as Crypto.

Safety in cryptocurrency is always a subject of debate given the volatility of the crypto market. Everywhere you look, people are speculating about whether platforms like CoinSwitch are safe or not.

But we are confident when we say that there’s no reason to worry. Here are some reasons why CoinSwitch is one of the safest Fintech apps around:

  • For security, we use blockchain intelligence tools that can identify, assess, and investigate crypto-related frauds and financial crimes. These tools are always a step ahead and ensure regulatory compliance from users.
  • We have a mandatory KYC (Know Your Customer) for each user which requires a PAN card, secondary ID ( Aadhar card, PAN card, etc.), and selfie for photo proof. This helps ensure that there are no illegal activities on our platform.
  • With CoinSwith, you can only buy and convert coins in real-time from the best exchanges available. We do not block your funds unless you have placed a limit order, so there’s no question of fraud being carried out with your funds.
  • The customer service is impeccable at CoinSwitch Kuber, if a dispute occurs while transacting on the website, CoinSwitch has a dedicated team to assist you. You just have to send an email to the management team and wait for a response.
  • CoinSwitch Kuber was one of the first among other crypto exchange platforms that allowed traders and investors to withdraw their earnings instantly. This no lock-in period feature assures crypto-traders that their earnings are in their control. Buy Bitcoin at the best rate.

How to Secure Your CoinSwitch Account?

Securing your CoinSwitch account is a two-way deal. While we assure you that everything is safe and secure from our end, there are some responsibilities that you need to take care of on your part.

Here is an example, would you leave your safe open just because you have a watchman? The watchman guards your house and makes sure that no intruders enter your property but it is your responsibility to put a lock on your safe. Similarly, we will help you invest in crypto securely, but you should also do your part to keep your assets safe.

With that said, here are some NEVER rules you must follow to secure your CoinSwitch account:

  1. Never share private information like your CoinSwitch Kuber mobile app PIN, Mobile OTP, Email OTP, etc., with anyone.
  2. Never share sensitive information with anybody anywhere. This includes all your social media platforms.
  3. Never keep the same access PIN for a long period of time, keep changing it at regular intervals.
  4. Never deposit money or crypto holdings) to any other account or address shared by an unknown person.

The Phishing game on the internet is really strong, and scammers will do anything to steal your personal information. There are instances where scammers got to the best of us, the ones who are careful and cautious. So, if at any time, any individual contacts you and makes promises like guaranteed returns and asks for your personal details, activate your “Sixth-Sense” and verify before you share.

FAQs

Is Coinswitch Legal in India?

Yes, CoinSwitch is completely legal in India and so is cryptocurrency. There is no such law in India that makes buying, selling, or trading in Bitcoin or any other cryptocurrencies illegal. This means that you can start investing in crypto without having to worry about its legal stance and hold on to it as an asset class.

Which is Better: CoinSwitch or WazirX?

CoinSwitch Kuber is considered to be one of the preferred cryptocurrency trading platforms for beginners. We offer a simple User Interface and have already become India’s largest Crypto app with 10 million users. WazirX is another popular Indian Crypto exchange that is backed by Binance Holdings. Ultimately, the choice is yours.

Why CoinSwitch is Not Accepting UPI?

UPI deposits are sometimes disabled temporarily due to issues at our banking partners’ end. However, this will not affect INR withdrawals or buying and selling of crypto with the existing funds in your wallet. These issues are usually resolved within a few days after which UPI deposits are back online.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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Akumbenla Jamir

Content Writer

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