CoinDCX initially founded as blockchain business and then established as cryptocurrency exchange. It is the biggest and safest cryptocurrency exchange in India. CoinDCX claims to offer almost instantaneous fiat to cryptocurrency conversions with no fees because it was designed with the user experience and security in mind. According to CoinDCX, there are more cryptocurrencies listed on its exchange than any other in India. Since the KYC and bank account verification processes may supposedly be finished in less than 5 minutes, CoinDCX claims that its onboarding procedure is among the fastest in the sector. The costs for trading and withdrawing cryptocurrency are quite low. Additionally, the exchange offers almost immediate deposit and withdrawal options. It means, CoinDCX will be the future of cryptocurrency in India as well as in the world.
History:
Sumit Gupta and Neeraj Khandelwal founded the blockchain business CoinDCX in 2017 and launched as a cryptocurrency exchange with offices in Mumbai, Maharashtra, India on April 7th, 2018. With legal name as “Primestack Pte. Ltd.” It is doing business as CoinDCX, provides cryptocurrency exchange solutions. To buy, sell, and trade cryptocurrencies and other digital assets, the company provides a cryptocurrency investment application. CoinDCX serves customers worldwide. CoinDCX has 200+ coins listed with the trading volume of INR 80K cr+. It is fully secured by BitGo and ISO cetified 9001:2018 which provides simplest, secure and compliant solutions.
Funding background of CoinDCX:
| Month/Year | Milestones achieved by CoinDCX |
| March 2020 | From 100X Ventures, Bain Capital Ventures, and Polychain Capital, CoinDCX secures a $3,000,000 series A financing. |
| May 2020 | Coinbase Ventures and Polychain Capital contribute $2,500,000 to CoinDCX’s series A financing. |
| December 2020 | Alexander Pack, Coinbase Ventures, DG Incubation, Jump Capital, Mehta Ventures, Polychain Capital, Uncorrelated Ventures, and block.one fund $1 billion in a series B round for CoinDCX. |
| August 2021 | With a $90 million fundraising effort, CoinDCX becomes the first crypto unicorn in India. Facebook co-founder Eduardo Saverin’s B capital took the lead in the fundraising. With the help of this round of funding, CoinDCX’s valuation increased to $1.1 billion, making it the first cryptocurrency exchange in India to achieve unicorn status. CoinDCX then joins the Advertising Standards Council of India in the following month (ASCI). |
| April 2022 | DraperDragon, Kindred Ventures, Kingsway Capital, Pantera Capital, Republic Capital, and Steadview Capital raise $135,900,000 in a venture round for CoinDCX. |
| May 2022 | CoinDCX has launched its venture arm that has invested in companies in the Web 3 space. The venture arm has allocated Rs. 100 Crore for investment in 2 years. |
| August 2022 | CoinDCX has launched a decentralised finance (DeFi) mobile app called Okto that gives Indian users access to a wallet where app users can access tokens from 20 blockchains and 100 DeFi protocols. DeFi offers financial instrument without intermediaries like banks, brokerage, exchanges and leverages smart contracts through secured distributed ledgers, with Okto, users can swap crypto anywhere, anytime. |
you can visit the site by clicking on the link https://coindcx.com/
Official CoinDCX App download link for iphone users https://apps.apple.com/us/app/coindcx-go-crypto-investment/id1517787269
Official CoinDCX Google Playstore App download link https://play.google.com/store/apps/details?id=com.coindcx.btc&hl=en_IN&gl=US
Frequently Asked Questions:-
1. Can I trust CoinDCX?
Yes, you can absolutely trust CoinDCX because it is the safest and most secure platform for trading cryptocurrencies. This is because the website takes its users’ security extremely seriously.
2. How much does CoinDCX cost?
On the CoinDCX Liquidity Services Desk, trading commissions for both buying and selling cryptocurrencies are 0.1% of the total transaction value. TDS does apply to sell orders. Example: The transaction fees will be calculated at 0.1%, which is equal to INR 4,000 (0.1% of INR 40,00,000), if your order value is INR 40,00,000.
3. CoinDCX belongs to which Country?
It belongs to India, Cowrks, 3rd-Floor, Prudential Building, Hiranandani Gardens, Powai, Mumbai.
4. Is CoinDCX safe for bank account?
As whole of the funds are insured by BitGo, including users’ cryptocurrencies held on MultiSignature cold wallets thus giving them comprehensive fund protection.
5. Is CoinDCX RBI approved?
Yes! Trading Crypto is legal! There is no ban levied by the Government. The ban imposed by RBI which was stopping banks to partner with crypto exchanges has been quashed by the Supreme Court of India.
6. What is the minimum amount to invest in CoinDCX?
Presently, the lowest amount to start your Systematic Investment Plan (SIP) is INR 200. The other existing options are INR 500, INR 1000, and INR 2000.
7. Is cryptocurrency legal in india?
Cryptocurrencies are unregulated in India, but in Indian Budget 2022, the government announced a flat 30% tax on gains from cryptocurrency transactions as well as a tax deducted source (TDS) of 1%. “RBI is not in the favour of cryptocurrency right now.
8. Which country invest most in Cryptocurrency in 2022?
Switzerland is considered to be one of the most crypto-friendly nations in the world. Swiss Banks were among the first in the world to accept Bitcoins and provide crypto companies with business accounts.
9. which is best coindcx or wazirx?
CoinDCX is more appropriate for experienced crypto traders, because of its product offerings. WazirX proposed a beginner-friendly interface offering only the required functionality for traders, So, CoinDCX is the best.
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