CoinSwitch Kuber: Is it a safe crypto exchange for trading in India?

CoinSwitch Kuber: Is it a safe crypto exchange for trading in India?

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When it comes to the safety of crypto assets, then we look forward to cryptocurrency wallets and exchanges that guarantee safety. It has been a fact that cryptocurrency has been popular in the world including India. When it comes to cryptocurrency exchanges, then there are very popular names including Binance, Coinbase, Gemini, Robinhood, and many more. But in India, there are exchanges like CoinSwitch Kuber and WazirX. Now there are websites where you must have read about CoinSwitch Kuber vs WazirX. But today we are going to discuss CoinSwitch Kuber and will find out whether it is a safe crypto trading platform for investors to bet on for trading.

CoinSwitch Kuber

CoinSwitch Kuber comes facilitated with an application that is supportive to retail investors to initiate cryptocurrency investment, as per the announcement on 22nd April, raising $25 million in a Series B funding round from Tiger Global Management, valuing the company at about $500 million. Ribbit Capital and Sequoia India are among the top names of investors. But again the question arises whether CoinSwitch Kuber is safer or not. 

CoinSwitch is known to be the global aggregator of cryptocurrency exchanges that came into existence in 2017 by a team of 3 people - Vimal Sagar Tiwari, Ashish Singhal, and Govind Soni. These are behind the unveiling of a crypto investment platform, CoinSwitch Kuber took place two years ago in India in June with 4.5 million users. According to Ashish Singhal, the chief executive officer, $50 million is the annual revenue of the company. 

Even though Bitcoin is a globally popular crypto, CoinSwitch benefits its users to make investments in numerous other currencies and has gauged it against the INR, with investors putting hundred of rupees into the rapidly increasing yet potentially risky asset class. Some major crypto trading platforms like DEX, HUOBI, HitBTC, Binance, and KuCoin lets users choose the crypto coins at their desired rates. The operation of CoinSwitch can be compared with Shapeshift and Changelly. There is also one more reason for the preference of CoinSwitch Kuber which is a simple user interface and supports a large number of crypto pairs to make a selection. 

Coming to the security level, CoinSwitch Kuber is indeed a very secure exchange because it does not involve the storage of funds. One can only purchase and convert coins in real time. Your money is not kept for trading plus there are lesser chances of falling victim to fraud because your funds are not kept here. But one cannot put blind faith in the exchange as it is not regulated, so it is not hundred percent safe for investors. The exchange provides free services for many processes. Hence, there are no CoinSwitch Kuber charges and no CoinSwitch Kuber withdrawal fees

Ending note

To explore more about CoinSwitch Kuber exchange, read blogs and articles on the Cryptoknowmics website, a one-stop solution for all crypto-related queries and topics. Here you can stay abreast with the latest price movements of cryptocurrencies - Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Avalanche, Solana, and more. 

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