Is CoinDCX a Good App For Investing Crypto? Let's Find Out

 Hello Everyone, a very good day to you all. This time I am going to review one of the India's best crypto investing app, CoinDCX. Is it a good place to invest in crypto? let's see.



CoinDCX is one of the biggest crypto exchange in India. The CEO of the company is Sumit Gupta and its running from 2018. Now, a lot of people still in doubt whether Bitcoin or any other crypto is legal or illegal in India. Well, it is not illegal, just a little complicated. The problem is you can't just withdraw crypto money directly to your bank account.

But CoinDCX is a definite solution for all your question. Legal or not, you can buy crypto with a few clicks and sell it and withdraw the money to your bank account with another few clicks. How's that for fun? Anyone who is new to Crypto world and want to learn a little bit more and experience it with a little investment, this is a genuine place.

You have to deposit money through NEFT from your bank account. It'll take few hours to reflect on your CoinDCX account. Once it's available, you can directly purchase any currency you want and enjoy your trading. 

I am going to be honest here. Though I am using a lots of exchange app, this one looks really simple and easy. But there are few problems with CoinDCX which makes me think about it a lot.

Now Coinbase launched in India. Though you can't deposit money to it yet, but Coinbase is one of the world's biggest crypto exchange platform. I am also a member of Coinbase for a long time. And Coinbase is lot better in some aspects.

* Thing about CoinDCX is - the prices of the currencies are always higher than Coinbase. Coinbase always shows the current exact price of the BTC or any other currency. If Coinbase starts working in India, then why should people going to use CoinDCX? I don't want to buy a certain coin with a high price where I can buy it with Coinbase a lot cheaper.

Coinbase Value

Above image shows the current price of the currencies in Coinbase.


CoinDCX value

Above images shows the value of the currencies of CoinDCX. Both images were taken at the same time.

* When you try to sell it on CoinDCX, it gives you a little low value of that currency and also takes %0.2 charges. Coinbase currently don't take any charges and always gives you the current value of that particular coin you are trying to sell or convert.

* And recently CoinDCX increased the minimum amount you can invest in the app from 100rs to 3000 Rupees. Now that's a shame. They are also having trouble continuing there business I guess. But they are saying that it's going to be normal soon. Let's see.

But anyway, the thing is Coinbase is not working in India, where CoinDCX is working for now. And I am quiet enjoying it. It is a really good app for all the crypto lovers in India. Enjoy trading.

Thanks for reading my blog.



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