In recent years, the global crypto market has witnessed an unprecedented surge. With more and more crypto exchanges entering the circuit, choosing the best one becomes a challenge. Moreover, these exchanges may offer certain services to garner a user base. l
With a vision to provide one of the best crypto trading platforms in the market, Bitchiper Labs launched the CoinSwitch exchange. CoinSwitch is a secure, user-friendly crypto trading platform offering a staggering amount of trading pairs on the exchange, more than 400 coins. So, should you use this exchange for your daily trades? In this CoinSwitch review, we will cover several aspects of the exchange such as its several features, how it works, and more.
Connecting your CoinSwitch Address to ZenLedger For Your Crypto Tax Forms
Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you’ll see a table that outlines the possible methods. We support a direct API code import for many centralized exchanges, while others may require a CSV import. Decentralized exchanges may require a wallet address.
To import your transactions from an exchange, simply navigate to the “Exchanges” tab of the “Imports” page. Select the exchange that you are looking to import, and instructions will be provided for that specific exchange!
How Does it Work?
Before we move on with the CoinSwitch review, it must be noted that CoinSwitch is a cryptocurrency exchange aggregator. This means, unlike other exchanges that generate their own liquidity, CoinSwitch connects the investors to multiple Crypto exchanges and helps them find the best prices on the token they want to purchase. Also, CoinSwitch helps its users to find the best exchange rates and convert a token.
The exchange has more than 100 digital coins for its users and they can be traded in a secure and user-friendly manner. Moreover, users can get started on the platform for as low as $1.3.
CoinSwitch Review: Features
One of the main reasons behind millions of users flocking toward CoinSwitch is its features. Here’s a quick overview of its features:
Swift Crypto Trading
With this platform, users can buy/sell/trade more than 100 digital tokens with a few taps.
Low Initial Deposit
The platform allows the initial deposit of a minimum of $1.3 and that’s one of the reasons it is so appealing to beginner traders. They can trade and understand the crypto market without risking a lot of funds.
The platform charges zero brokerage and thus, investors can buy and sell cryptocurrency freely without any hidden charges.
Since it is a cryptocurrency exchange aggregator, it connects its users to multiple platforms so that they get the best rates.
No Lock-In Restrictions
CoinSwitch allows its users to withdraw their money instantly, unlike other exchanges. Also, the no lock-in feature makes this exchange a popular choice.
Simple KYC and AML
The exchange’s AML and KYC verification process is very quick and simple. Thus, its users can start using the exchange in no time.
Quality Customer Service
If the customers have any queries, they can get in touch with customer support via the live chat option on the website. Additionally, the simple support ticket system helps resolve customer issues quickly.
If a user refers CoinSwitch to their friends and family via a referral link and they successfully install the app via the link, the referrer gets $0.6 worth of Bitcoin. To join the referral program, a user must finish the KYC process.
Opening an Account on CoinSwitch
CoinSwitch is one of the few exchanges that prioritizes mobile app trading. Its iOS and Android apps can be downloaded from the App Store or the Play Store. Further, the users have to create an account and this is how they can do it:
- On the Play Store or the App Store, search for the app and install it.
- Open the app and register with your mobile number
- Enter the one-time password (OTP) received on your phone
- Set a 4-digit PIN
- Re-enter the PIN to confirm it
- After you do it, your account has been created.
Once you’ve created your account, you have to finish the KYC process to start trading. To start the KYC process, you have to provide your full name, date of birth, email address, and printed/scanned copy of your government-issued ID.
CoinSwitch Review: The Takeaway
Even though CoinSwitch is still in its infancy stage, the exchange has garnered millions of users due to its remarkable features. Its KYC is simple and easy, but at the same time, makes the exchange safe and legit. CoinSwitch is also a non-custodial exchange and goes out of its way to adopt the latest security practices, making it even safer.