In this video, we look at CoinDCX – one of India’s first crypto-to-crypto trading exchanges. The exchange launched after RBI’s recent decision banning banks from providing services to cryptocurrency exchanges. CoinDCX is providing a new alternative to Indian cryptocurrency investors to trade cryptocurrencies without INR. Obviously, you can only deposit your cryptocurrencies on the platform. The base pairs available are Bitcoin (BTC) and Ethereum (ETH). However, you can also buy and sell other good cryptocurrency projects like EOS, Litecoin (LTC), Icon (ICX), TRON (TRX) and OmiseGO (OMG), among others. The current trading fees is 0.1% for both buyer and seller, which is extremely low compared to other exchanges. One interesting feature is that it displays your portfolio balance in INR despite not accepting INR deposits.
Currently, I am not inclined to use this exchange since you can still trade your INR for cryptocurrencies on other exchanges. However, CoinDCX might be a good choice when the RBI ban completely takes effect. Will Indian investors flock to this exchange? We will wait and watch!
Also, this video is not an endorsement for CoinDCX. I am as new to the exchange as our viewers. This is only meant for information purposes. When using new exchanges and trading platforms, readers should do their own due diligence before taking any actions related to the exchange or its services. We are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.