CoinDCX Vs WazirX : Comparison of CoinDCX Fees, WazirX Fees, Platform & Trading Pairs, Crypto Exchange Comparison

CoinDCX Vs WazirX

Crypto exchanges WazirX and CoinDCX are one of the most popular Crypto trading platform. You may purchase and sell do crypto transaction directly in INR –

  • Bitcoins .
  • Ethereum, Ripple, and Litecoin are examples of other cryptocurrencies.
  • Altcoins such as-(NEO, TRON, and EOS are examples of altcoins.)
  • Crypto Tokens such as (UNI, LINK, and MATIC)
  • Tether (USDT), USD Coin (USDC), and Binance USD are examples of stablecoins (cryptocurrencies whose value is tied to the US dollar) (BUSD).

Crypto exchanges operate in the same way as the BSE and NSE stock markets do.

 

Crypto exchanges differ from stock exchanges in two ways.

  1. Crypto exchanges provide direct access to the platform, with no stock brokers in the middle.
  2. You may purchase another cryptocurrency using one of your own. This isn’t feasible on a traditional stock exchange; for example, you can’t purchase Infosys stock with Reliance stock.

 

However, if you have Ethereum or another cryptocurrency, you may buy Bitcoins straight on a crypto exchange.

In 2018, the WazirX and CoinDCX cryptocurrency exchanges became live. Developing a platform that allows ordinary individuals to purchase and trade bitcoins.

WazirX and CoinDCX are currently among the top 50 finest crypto exchanges in the world, according to

CoinDCX Vs WazirX
CoinDCX Vs WazirX Coinmarketcap

(a global website that records cryptocurrency prices and statistics).

CoinDCX Vs WazirX
CoinDCX Vs WazirX

WazirX was founded by Nischal Shetty and is now owned by Zanmai Labs Private Limited. It was purchased by Binance, the world’s largest cryptocurrency exchange, in 2019.

WazirX, a cryptocurrency exchange based in Mumbai, India, has the biggest daily crypto trading volume of over $104 million.

Sumit Gupta established CoinDCX, which is owned by Primestack Pte Limited. In addition, DCX, a Singapore-based firm that specializes in crypto-enabled financial services, has collaborated with them.

CoinDCX is based in Mumbai, India, and trades roughly $40 million in crypto every day.

In this essay, I’ll compare WazirX and CoinDCX, as well as what they both have to offer to average people like you and me. Finally, if you’re undecided between the two swaps, we’ll assist you in making a better selection.

 

Related: How to Invest in Cryptocurrency in India

 

Who is more trustworthy, WazixX or CoinDCX?

There are around 190 crypto exchanges in the world, with daily trading volumes of over $10 million.

Cryptocurrency exchanges are not prohibited. However, no government, financial regulatory entity, or central authority regulates any of them.

In the absence of any regulating authority, you can assess a crypto exchange’s credibility based on aspects such as –

Both WazixX & CoinDCX Founder’s Profile

Nischal Shetty is a Computer Science graduate and the creator of Twi5, Crowdfire, and WazirX, among other startups. He’s also one of India’s Forbes 30 Under 30 entrepreneurs for 2014.

Sumit Gupta, a co-founder of List-up and CoinDCX with a keen interest in Number Theory and Cryptography, graduated from IIT Mumbai.

 

Who is the winner here?
  • Both founders appear to be skilled entrepreneurs with extensive experience and appear to be experts in their fields.

 

#2. Features of Security

When you open a CoinDCX account, you must go through KYC and bank verification. You may access your trading account using 2FA (Two Factor Authentication) for further protection.

95 percent of CoinDCX’s cryptocurrency is kept in cold wallets. (i.e., offline and not connected to the internet) and 5% in hot wallets. Defending your cryptos against hacker attempts.

Furthermore, BitGo insures all cryptos traded on CoinDCX (a digital asset insurance company).

WazirX, on the other hand, conducts KYC and bank verification throughout the account opening process. When accessing your trading account and receiving email/SMS notifications, you must enter 2FA.

WazirX keeps virtually all of your money in offline cold storage, making it impenetrable to hackers.

 

Who is the winner here?

  • The customer’s money are insured under the BitGo insurance coverage, giving CoinDCX an advantage.

 

#3. (Partners & Associates)

WazirX is a holding company for Binance, the world’s largest cryptocurrency exchange.

Coinbase, Bain Capital Ventures, Bitmex, and Polychain are among CoinDCX’s investors.

 

Who is the Winner Here?

  • Because WazirX is completely connected with Binance, it has an advantage over CoinDCX in this area. We can quickly relocate our assets to Binance if the government imposes a ban.
 

 

When I know Binance is always there for support, I feel more confident using WazirX (read the full WazirX review). WazirX also learns a lot from Binance in terms of technology and marketing.

#4. Founders & Media Channels Access

CoinDCX may be found on:

WazirX may be reached at:

 

Who is the Winner Here?

  • WazirX offers a few more social media outlets via which you may contact them, such as Facebook and LinkedIn.

 

WazirX and CoinDCX are backed by worldwide businesses, are professionally managed, and have suitable security measures in place to keep your money secure. Overall, the exchange appears to be reliable.

Related: How to invest in Bitcoin in India | Buy & Sell Bitcoin | Bitcoin Investment in India

Money Deposit & Withdrawal Ease

Both WazirX and CoinDCX allow for direct INR deposits and withdrawals. The funds you deposit are stored in their Indian bank’s current accounts. Also, you may buy cryptos with the funds in your account.

With INR in your account, you may use it to buy Bitcoins and other cryptocurrencies.

Specifics WazirX Options
CoinDCX Options
Channel NEFT & RTGS, IMPS, UPI, NEFT & RTGS, IMPS, UPI,
Apps Preffered Mobikwik App Mobikwik App
Deposit Fees Each transfer Rs. 5.90 (IMPS, NEFT, RTGS)
Each transfer Rs. 4 (UPI Mode)
Rs. Zero
Time 72 hours maximum 72 hours maximum
The minimum amount is Rs. 100 Rs. 100
The maximum amount is There is no upper limit. Depending on your KYC status, you might get up to Rs. 5 lakhs

WazirX does not enable withdrawals till KYC and bank verification have been completed.

If your KYC is pending, you can deposit and withdraw up to Rs. 10,000 on CoinDCX.

 

Who is the Winner Here?

  • Beginner cryptocurrency investors and traders may appreciate CoinDCX’s versatility.
 
 
WazirX, on the other hand, is better positioned to assist you in getting started with cryptocurrency and growing your portfolio. The exchange is designed for both professional and inexperienced cryptocurrency traders.

 

Trading Fees & Charges Comparison between CoinDCX and WazirX

In both WazirX and CoinDCX exchanges, the spot exchange (markets where buyers and sellers swap cryptos quickly) is the only common marketplace.

The following is a comparison of trading costs for the Spot exchange –

Specifics in WazirX
in CoinDCX
Maker Fees 0.2 percent Based on the 45-day total trading volume, 0.11 percent to 0.001 percent.
Taker Fees 0.2 percent Based on the 45-day total trading volume, 0.11 percent to 0.001 percent.

Fees are computed at CoinDCX based on your 45-day trading volume. For a rookie crypto trader, calculating this might be difficult.

WazirX charges a set 0.2 percent fee, which is more than CoinDCX. WazirX, on the other hand, provides a referral scheme via which you may earn WRX tokens.

If you pay your fees with WRX tokens, you will receive a 50 percent discount. In comparison to CoinDCX, this means you just have to pay 0.1 percent, which is a minimal fee for new traders.

WRX tokens are also listed and have recently generated attractive returns, making it a win-win situation for WRX users.

 

Who is the Winner Here?
  • WazirX has a simple pricing structure that includes set trading fees. If you utilize WRX coins, you’ll get a 50% reduction on your costs.

 

Comparison of MarketPlace, Listed Crypto Pairs, and Trading Ease

#1. MarketPlace

WazirX offers a spot exchange, a peer-to-peer (P2P) marketplace, and an STF marketplace.

WazirX markets

• Spot exchange: Enables for the buying and sale of cryptocurrencies on a one-to-one basis.

• P2P Market: You may buy/sell USDT directly from other traders using INR, with WazirX serving as a custodian.

• Smart Token Fund (STF): Permits experienced crypto traders to assist newbies in growing their portfolio in exchange for a portion of the profits made.

This is in stark contrast to CoinDCX’s Spot, Margins, and Futures marketplaces.

CoinDCX markets

• CoinDCX Spot exchange :
The CoinDCX Spot exchange allows users to buy and sell cryptocurrencies directly.

• Margin Trading:
Margin Trading is a type of trading that is comparable to stock margin trading. You can trade with a 6X leverage.

• Futures Trading
Futures and options (F&O) trading are similar to each other. Allows you to trade crypto futures with a leverage of up to 20X.

 

Who is the Winner Here?

  • The other markets, with the exception of the spot exchange, are distinct and not comparable.

 

Note: WazirX is a basic cryptocurrency exchange that caters to newcomers. The CoinDCX marketplace, on the other hand, is for experienced crypto dealers.

#2 Access to DeFi apps

None in WazirX

Lending and Staking DeFi apps are available on the CoinDCX market.

CoinDCX DeFi applications

DeFi apps are Ethereum blockchain-based smart protocols. You may lend, borrow, or stake your cryptos, allowing you to profit from the cryptos in your wallet. More information about DeFi apps may be found here.

 

Who is the Winner here?

  • Once again, there is no way to compare the two exchanges. CoinDCX’s DeFi program is designed for seasoned cryptocurrency investors.

 

#3. Crypto Trading Pairs

WazirX – There are only four basic trading pairings with which other cryptos are matched on WazirX. The four basic pairs are as follows:

 

  • INR / (Crypto pair)
  • BTC / (Crypto pair)
  • USDT / (Crypto pair)
  • WRX / (Crypto pair)

 

WazirX has a total of 70 cryptos linked with INR. That is, you may buy them right now with the rupees you have in your account.

CoinDCX offers 11 different trading pairs, offering you more options. The most common trading pairs are – and ;

 

  • INR / (Crypto pair)
  • BTC / (Crypto pair)
  • USDT / (Crypto pair)
  • BNB / (Crypto pair)
  • DAI / (Crypto pair)
  • USDC / (Crypto pair)
  • ETH / (Crypto pair)
  • TRX / (Crypto pair)
  • BUSD / (Crypto pair)
  • TUSD / (Crypto pair)
  • XRP / (Crypto pair)

 

However, you only have 32 cryptos connected with INR. That implies that if you want to buy the remainder of the cryptos on CoinDCX, you must first acquire USDT and then use it to buy the cryptocurrency you want.

 

Who is the Winner Here?

  • WazirX, without a doubt, provides you with additional crypto alternatives that you may buy directly with INR.

 

#4. Trading Ease

Platform for Trading

CoinDCX has the appearance and feel of an FX trading platform, which is better suited to seasoned investors. You must first locate the market and cryptocurrency pairings. In dark mode, it has a substantial look.

WazirX offers a clean, straightforward appearance with only the most important functions, making it simple to learn and use even for novice traders.

Dashboard for Buying/Selling:

On the CoinDCX, the order window is a little perplexing because the bid and ask rates are shown one above the other.


CoinDCX Order book

It will be difficult to interpret the buy/sell orders structured in this manner if you are unfamiliar with the order book.

However, there is a benefit: more orders may be examined. If you click the bids or ask order book, for example, you’ll get specifics for about 80+ orders in the book.

With bids and ask orders put side by side on WazirX, it’s simple to grasp.


WazirX order book

The only restriction is that only ten orders may be shown at a time.

Cryptocurrency Shorting – What is it?

On WazirX, there is no opportunity to short. (once you sell it buy a cryptocurrency later)

On CoinDCX, you may short 50 coins at once using margins.

 

Who is the Winner on Ease of Trading?
  • WazirX outperforms CoinDCX because it simplifies the user’s experience by needing the least amount of work to comprehend and buy/sell cryptos.

CoinDCX caters to more experienced cryptocurrency traders, as seen by its platform and product offerings.

WazirX is a user-friendly design that only includes the features that intermediate and advanced traders need.

WazirX vs. CoinDCX in relation to customers

The bad news is that, in the name of customer reach, consumers may only use website inquiry forms and social media outlets.

Users have complained to WazirX and CoinDCX about INR deposits being delayed and difficulty trading during busy hours.

This might be due to banks refusing to cooperate with exchanges, as well as the recent massive price volatility in the crypto markets.

Through their Twitter accounts, both exchanges have attempted to recognize the difficulties.

CoinDCX and WazirX are new crypto exchanges that are boosting up their IT infrastructure and staff to deal with the problems.

 

Who is the Winner here?

  • Both the exchange’s customer service teams are ordinary and will need to improve in the future days.
 

Why Should You Use WazirX Cryptocurrency Exchange?

WazirX, in my opinion, is the better option for:

 

  • WazirX’s UI is simple, straightforward, and simple to use.
  • WRX coins have fixed, minimal 0.1 percent trading fees.
  • INR is linked with 70+ cryptos.
  • Apart with NEFT, RTGS, and IMPS, UPI may be used to make a deposit.
  • You can get INR directly into your bank account if you have one.
  • For the Reasons Below, You Should Prefer CoinDCX.

CoinDCX is the place to go if you want to:

  • To have trading costs based on volume.
  • In the upper class, the rate is lower (up to 0.001%).
  • Margin and futures crypto trading are available.
  • Want to make money with your cryptocurrency by utilizing DeFi applications?
  • Make use of a short-term trading strategy.
  • Apart with NEFT, RTGS, and IMPS, UPI may be used to make a deposit.

 

 

Often Asked Questions FAQ’s-(CoinDCX Vs WazirX)

Q) Is CoinDCX a better investment than WazirX?

Ans: A 0.1 percent takers fee and 0.1 percent makers fee are charged by CoinDCX. WazirX, on the other hand, charges about 0.2 percent as a takers’ and makers’ fee for each transaction. In addition, the CoinDCX app has DCXmargin, DCXfutures, and DCXstake, which are not available in other Indian apps.

Q) Is CoinDCX a safe bet?

Ans: BitGO insures all money, including users’ cryptocurrencies housed in MultiSignature cold wallets, ensuring total financial security.

Q) Is CoinDCX a reputable cryptocurrency trading platform?

Ans: By heading to the ‘My Investing’ option inside the CoinDCX cryptocurrency investment software for beginners, new investors may utilize the program as an effective crypto portfolio tracker. Retail customers may invest in the best-selected cryptocurrencies using the novice CoinDCX app.

Q) Is WazirX a reliable source of information?

Ans: WazirX is one of India’s most trusted Bitcoin and cryptocurrency trading exchange. Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies may all be bought, sold, and traded in India.

Q) Is WazirX a reputable firm?

Ans: Everyone should try it. Wazirx is now India’s largest crypto exchange platform. The program is simple to use, and crypto newbies may quickly learn how to grow and profit.

Q) Is WazirX’s KYC secure?

Ans: The WazirX transaction procedure is secured using Google Authenticator and Mobile OTP-based authentication. WazirX keeps 95% of its money offline, ensuring that they are protected from any hacking attempts. It is regarded as one of the most user-friendly platforms in India and throughout the world, with several rivals.

Q) Is WazirX the same as Binance?

Ans: “Binance just bought WazirX. It will continue to operate as a distinct Binance brand with an emphasis on peer-to-peer (P2P) transactions.”

 

Conclusion

Based on the side-by-side comparison of CoinDCX vs WazirX, I recommend that you establish a WazirX account because WazirX is a simple to understand and use cryptocurrency exchange for beginner crypto investors.

CoinDCX, on the other hand, is better suited to traders who have prior expertise investing or trading in cryptocurrencies.

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