India, the 5th largest economy in terms of GDP and the 3rd largest in purchasing power, is facing one of the worst economic crises in recent times. The RBI recently announced cuts in fixed deposit rates, and the inflation rate is at an all-time high due to which people have started looking at alternate saving options like cryptocurrencies.
There has been a surge in cryptocurrency trading on crypto exchanges partly due to the current economic situation and due to the lifting of the ban on digital currencies by the Supreme court. If you are also looking to take advantage of this bullish run of digital currencies, then there are many Indian crypto exchanges.
Among the trading platforms that can be considered as a ZebPay Alternative to Trade Cryptocurrencies In India is CoinSwitch.
CoinSwitch is an Indian cryptocurrency exchange aggregator that was founded in the year 2017. It is a unique platform as it aggregates the exchange rates from various platforms across the world. It allows users to trade using these exchange rates and get the best price. That can happen because the platform integrates many leading exchanges and connects its users.
The cryptocurrencies can be converted to other coins anonymously across the exchanges without having to create an account. In simpler terms, you can choose the cryptocurrencies at their best rates from exchanges like Binance, Kucoin, Changelly, etc., and convert it to INR or trade or pair it to another crypto of your choice.
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When compared to ZebPay, CoinSwitch trades in over 300 coins without even needing to create an account. It also pairs about 45,000 different combinations of the cryptos for trading. While ZebPay supports only BTC, ETH, XRP, LTC, BCH, EOS CoinSwitch supports BTC, ETH, XRP, LTC, BCH, EOS and many others like MXR, DASH, ETC, ADA, VET, XVG, and more.
Apart from getting real-time exchange rates for various currencies, it also provides real-time price comparison charts. The previous performance of the coins can also be viewed through the use of graphs so as to predict the price.
CoinSwitch has users across the globe, and the platform can be accessed from as many as 226 countries where it is legit. Apart from India, some of the other countries CoinSwitch operates in are the US, Canada, Australia, Singapore, etc. Another benefit of using this platform is that INR can be used as a FIAT currency, but in ZebPay only AUD, EUR can be used.
The trading fee in CoinSwitch ranges from 0 to 0.49% and is based on the exchange you use. There are 0 deposit and withdrawal fees. In comparison with ZebPay, there is great transparency in fee payment.
Also, there is no minimum limit set for depositing amounts. Though ZebPay claims 0 trading fees, it does not specify anything specifically for its retail customers. Moreover, there is a minimum transaction limit set for deposit and withdrawals.
Faster and Safer Transactions
A transaction on an average takes anywhere between 15 to 30 minutes. But depending on the blockchain used and the size of the transaction, the duration may vary. CoinSwitch does not store funds as buying and selling happen instantly on the platform.
Moreover, it does not hold funds for trading; hence safe transactions can happen, and there are fewer chances of theft. Moreover, CoinSwitch has a good customer support team that helps solve problems. ZebPay is also a relatively safe exchange with no security breaches until now.
Cryptocurrency has gained huge popularity in the past few years, and hence it has seen a rise in value. In India, Bitcoin is one of the most popular digital currencies, and many investors have made a lot of money investing in it. Moreover, the legal hassles of trading cryptocurrency are no longer a concern as the Supreme court has lifted the ban on it. So as a new investor, you can trade in cryptocurrencies without any worries. Ensure that you understand the basics to mitigate any risks involved in trading.
KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.