CoinSwitch is the leading crypto exchange in India, with more than 2 crore registered users. In keeping with its mission to \u201cMake Money Equal for All,\u201d 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\u2019 investments are as secure as they are seamless. <\/p>\n\n\n\n
CoinSwitch proactively prioritizes security and has implemented multiple safety measures and protocols to safeguard users and their cryptos. It understands that security is paramount. <\/p>\n\n\n\n
CoinSwitch is registered with the Financial Intelligence Unit-India (FIU-IND)<\/strong> 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<\/strong>, highlighting its dedication to implementing robust information security practices.<\/p>\n\n\n\n Security starts the moment a user opens the app. CoinSwitch uses user-specific PINs, biometric authentication, and<\/strong> two-factor authentication (2FA)<\/strong> through SMS-based OTPs to prevent unauthorized access.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n CoinSwitch also use advanced policy engines<\/strong> to configure custom approval rules for every transaction, making them more secure and harder to misuse.<\/p>\n\n\n\n CoinSwitch secures all communication between the user app and our servers using SSL\/TLS encryption<\/strong>. This means users’ data is encrypted in transit and safe from interception.<\/p>\n\n\n\n The CoinSwitch app has also set strict app permissions<\/strong>, ensuring that no other app on a user’s phone can access CoinSwitch data. Android and Apple\u2019s app sandboxing technologies further support this, isolating app data from external access.<\/p>\n\n\n\n All CoinSwitch data is hosted on Amazon Web Services (AWS)<\/strong>, 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.<\/p>\n\n\n\n At CoinSwitch, users’ crypto is stored in custodial wallets managed by global institutions<\/strong> specializing in enterprise-grade digital asset security.\u00a0 These wallets use Multi-Party Computation (MPC)<\/strong>, 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.– Robust CoinSwitch app security<\/strong><\/h2>\n\n\n\n
– Strong personal data protection<\/strong><\/h2>\n\n\n\n
– Enterprise-grade crypto security<\/strong><\/h2>\n\n\n\n
To minimize risk, CoinSwitch follows strong fund management practices. Over 95% of user assets are stored in cold wallets<\/strong>, with less than 5% kept in hot wallets or third-party exchanges, helping reduce exposure and systemic risk.<\/p>\n\n\n\n– Proof of Reserves (POR)<\/strong><\/h2>\n\n\n\n