Coinswitch is a FIU registered crypto trading app in India, To open a Coinswitch account, users have to use a website or Coinswitch app and use their mobile number to create an account. For crypto trading users need to complete KYC and selfie verification as per government guidelines.
Coinswitch is considered as one of the largest crypto trading apps that offer spot trading, future trading, option trading and also Web3 coins to invest in. There are many fast growing AI crypto coins listed here.
Recently, I created account on Coinswitch and here I’m sharing the exact Coinswitch account opening process which I followed.
What is CoinSwitch?
Coinswitch is a crypto trading platform offering a variety of trading in Crypto and web3 including Spot, future and option trading. You can trade 150+ cryptos including Bitcoin, Ethereum, Solana, TON, Doge, XRP, Pepe, BNB, Tao etc.
There are only few platforms in India who have FIU REGISTERED certification such as CoinDCX, Delta Exchange, also Coinswitch is in the list. Currently 20+ million users are trading in crypto using Coinswitch app.
Is CoinSwitch safe for beginners in India?
Yes, it is a safe crypto platform approved by government unit FIU-India, and adheres to PMLA Act anti-money laundering (AML) standards. Already 20+ million users are trading on Coinswitch app.
Can Indians legally use CoinSwitch?
Crypto trading is legal in India, so yes, Indians can legally use CoinSwitch to buy, sell, and hold cryptocurrencies. Crypto trading itself is not banned in India, although cryptocurrencies are not legal tender like Indian Rupee.
What documents are required to open a CoinSwitch account?
As per government guidelines, to open an account on Coinswitch, typically required PAN Card, Aadhaar Card for KYC, Selfie for user verification and Bank account for trading.
Can students create a CoinSwitch account?
Yes, students in India can create a CoinSwitch account if they are at least 18 years old and able to complete the required KYC verification process. To register, students generally need documents such as a PAN card, Aadhaar card, a valid mobile number, and a bank account or UPI ID for transactions.
How to open a CoinSwitch Account?
Want to start crypto trading with Coinswitch? Here are simple steps to open CoinSwitch account, complete KYC process, link you bank account add funds, and start crypto trading in India.
Step 1: Download and Install CoinSwitch App from Google Play Store for Android or Apple App Store for iPhone.
Step 2: Enter your mobile number and verify it using OTP sent to your phone.
Step 3: Set a secure 4-digit PIN to protect your CoinSwitch account and login activity.
Step 4: Now open app and tap “Open Free Account” button to begin CoinSwitch KYC verification process.
Step 5: Enter your Aadhaar number, verify OTP linked to Aadhaar, and click on Continue button.
Step 6: Approve DigiLocker permission to securely share your Aadhaar card and PAN card details with CoinSwitch.
Step 7: Take a live selfie for identity verification to complete your crypto exchange KYC process.
Step 8: Select your occupation type and income range, then click Continue.
Step 9: Add your bank account details and connect your preferred UPI app for easy deposits and withdrawals.
Step 10: Deposit money into your CoinSwitch wallet and start investing in cryptocurrencies like Bitcoin, Ethereum, and other digital assets.
Can I use UPI on CoinSwitch?
Yes, Coinswitch supported all major UPIs such as PhonePe, GooglePay, BHIM, and Paytm. Users can directly add money from UPI, but currently due to RBI regulations.
Users can not add more than Rs.10,000 through UPI and however, UPI availability on Indian crypto exchanges has occasionally faced temporary interruptions due to banking and regulatory changes. CoinSwitch and other exchanges have previously paused UPI deposits during certain periods, although many users report that UPI works normally most of the time now.
What is the minimum deposit amount on CoinSwitch?
Minimum deposit amount is ₹100, which makes it beginner-friendly for new crypto investors in India. Users can add funds through UPI, IMPS, NEFT, or bank transfer and start buying cryptocurrencies with a small investment amount.
Many Indian users also mention that CoinSwitch is suitable for small SIP-style crypto investing because you can start with low amounts like ₹100 to ₹500.
How CoinSwitch App works?
A trader first goes to CoinSwitch and selects the trade they want to make, like exchanging Bitcoin for Ethereum. Then, they enter the amount they want to trade, for example 0.25 Bitcoin.
After entering the details, CoinSwitch shows a list of exchanges where the trade can be completed. This is different from Changelly, which automatically selects the exchange offering the best rate and completes the trade there.
With CoinSwitch, users can compare rates from different exchanges and choose the one they prefer.
Once the trader selects an exchange, CoinSwitch provides a deposit address. The trader sends their cryptocurrency to this address and also provides another wallet address where they want to receive the swapped coins.
Users can start trading without creating an account or completing KYC verification.
Top Coinswitch’s Competitors
No.1 CoinDCX: According to Similarweb data, CoinDCX is CoinSwitch’s top competitor in India, with a massive user base. It supports over 500 cryptocurrencies and offers lending and staking for passive income.
No. 2 DeltaExchange: Delta Exchange is top cryptocurrency derivatives exchange in India. Delta Exchange is a cryptocurrency derivatives exchange that is trusted by traders across the world. Users can trade call & put options on BTC & Ether along with futures & perpetuals on Bitcoin, Ether & 50+ altcoins.
Opening an account on CoinSwitch is a simple process that takes only a few minutes. With an easy-to-use interface, quick KYC verification, and secure payment options, CoinSwitch makes crypto investing beginner-friendly for Indian users. By following the steps carefully, you can create your account, complete verification, and start exploring cryptocurrencies safely. Always remember to use strong security practices and invest responsibly before entering the crypto market.