CoinSwitch is the leading crypto exchange in India, with more than 2 crore registered users. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders. For this, CoinSwitch has a comprehensive array of checks and guardrails to ensure users’ investments are as secure as they are seamless.
What are the steps taken by CoinSwitch to keep user money safe?
CoinSwitch proactively prioritizes security and has implemented multiple safety measures and protocols to safeguard users and their cryptos. It understands that security is paramount.
– FIU-IND compliant and ISO certified
CoinSwitch is registered with the Financial Intelligence Unit-India (FIU-IND) and fulfills comprehensive KYC and transaction monitoring in adherence to the AML-CFT risk-mitigation mandated by the PMLA Act. CoinSwitch is ISO/IEC 27001:2022 certified, highlighting its dedication to implementing robust information security practices.
– Robust CoinSwitch app security
Security starts the moment a user opens the app. CoinSwitch uses user-specific PINs, biometric authentication, and two-factor authentication (2FA) through SMS-based OTPs to prevent unauthorized access.
CoinSwitch never stores sensitive data locally on users’ phones and always asks for credentials before showing sensitive information. The app is regularly updated to patch any identified security issues, so keeping the app updated is key to staying protected.
CoinSwitch also use advanced policy engines to configure custom approval rules for every transaction, making them more secure and harder to misuse.
– Strong personal data protection
CoinSwitch secures all communication between the user app and our servers using SSL/TLS encryption. This means users’ data is encrypted in transit and safe from interception.
The CoinSwitch app has also set strict app permissions, ensuring that no other app on a user’s phone can access CoinSwitch data. Android and Apple’s app sandboxing technologies further support this, isolating app data from external access.
All CoinSwitch data is hosted on Amazon Web Services (AWS), a trusted cloud platform known for its top-tier security protocols. AWS encrypts data both in storage and while in transit, and CoinSwitch has put in place strong access controls to restrict who can access user data.
– Enterprise-grade crypto security
At CoinSwitch, users’ crypto is stored in custodial wallets managed by global institutions specializing in enterprise-grade digital asset security. These wallets use Multi-Party Computation (MPC), which ensures that no single individual, not even at CoinSwitch, can unilaterally move funds. Every transaction requires multiple authorizations. These custodians ensure assets in storage and transit, protecting against theft, loss, or cyber threats.
To minimize risk, CoinSwitch follows strong fund management practices. Over 95% of user assets are stored in cold wallets, with less than 5% kept in hot wallets or third-party exchanges, helping reduce exposure and systemic risk.
– Proof of Reserves (POR)
Every year, CoinSwitch conducts independent Proof of Reserves (PoR) reviews for complete transparency by a qualified chartered accountancy firm as per the standards prescribed by the Institute of Chartered Accountants of India (SRS 4400). The latest review, published in May 2025, confirms that CoinSwitch holds sufficient cryptos and INR balances to cover all user redemptions, maintaining a ratio of 1:1 or higher.
– Strong Customer Support
CoinSwitch customer support is available 24/7. Users can reach the team via @Csksupport or by raising a support ticket for any app- or account-related issues.
– Financial strength
CoinSwitch is backed by leading global investors and has raised significant capital, giving us the financial strength to protect user interests and weather external market shocks.
How can you ensure your account on the CoinSwitch app is secure?
Protecting the CoinSwitch app from security risks is one of the best ways to ensure your hard-earned money is safe. Here are some best practices you can follow to keep yourself safe.
- Keep personal information secure
Once a hacker accesses your personal information, such as your CoinSwitch OTP and PIN, they can use it to steal your funds. This is why it is critical to keep this information secure. There are many ways to store your personal information, including online and offline wallets that only you can access.
- Stay alert
To maintain security, it’s essential to update your account passwords frequently. CoinSwitch’s customer support will never ask for your OTP, PIN, passwords, or debit card details. If anyone approaches you with such requests, please refrain from sharing personal information and report it immediately to help protect others.
- Device security practices
Protecting the devices you use to access or host the CoinSwitch app is essential, too. Maintain device security best practices by regularly updating your apps and devices. Also, always use a screen lock with a PIN for your device to protect yourself from security breaches in case your phone is ever stolen.
FAQs
Is my money safe in CoinSwitch?
CoinSwitch ensures the security of investments with its excellent security practices and 24/7 customer support. One of the best ways to keep your money safe is to protect the CoinSwitch app from security threats.
Is it safe to do KYC in CoinSwitch?
If you’re looking to buy Bitcoin and Altcoins, CoinSwitch is a safe & secure cryptocurrency exchange in India. Once registered and completed your KYC process, you can start trading 300+ coins with no lock-in period.
