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Coinswitch Cryptocurrency Exchange in Singapore
Background Information about CoinSwitch
CoinSwitch is a global aggregator of cryptocurrency exchange marketplace through which users can access the crypto markets. Founded in 2017, CoinSwitch is a cryptocurrency investment platform for retail traders. The company is headquartered in Bangalore, India. It was co-founded by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari.
CoinSwitch has raised $50 million in over two funding rounds. In 2021, CoinSwitch raised $25 million in a Series B round from Tiger Global Management at a valuation of more than $500 million. The company’s future strategy includes diversifying its business into other asset classes that include portfolios like stocks, mutual funds, among others. Initially, the company was only known in India but due to its functionalities and easy-to-use platform, Coinswitch became popular in other markets as well like Singapore.
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Pros
- Fast and easy-to-use
- Supports 100+ cryptocurrencies
- No lock-in period for withdrawals
- Offers android and iOS mobile applications
- Prompt customer support
- Rewards with the referral program
Cons
- No fiat deposits
- Hidden charges
- Not available in some countries
- No multi-lingual support
Products of CoinSwitch Cryptocurrency Exchange Platform in Singapore
CoinSwitch has four products currently in Singapore and these are:
- APIs: The powerful and fixed-rate API feature of CoinSwitch allows businesses to build powerful products
- Pay with Altcoins: This feature helps businesses to accept more than 400 cryptocurrencies from users around the world
- Instant Exchange: The feature lets coin owners launch their personalized cryptocurrency exchange in few minutes with zero code, helping users trade directly from the website.
- Airdrop: It helps users to participate in the top verified Airdrops and claim free tokens.
How to create an account on CoinSwitch?
Step 1: Go to the official website of CoinSwitch, and click on the “Account” tab.
Step 2: Next, you have to click on “Register”
Step 3: After you click on the register, you’ll be redirected to the registration prompt, where you have to fill in the email address and create a password
Step 4: The next step involves accepting the company policy and providing user details like name, date of birth, country of residence, and phone number
Step 5: At last, you need to wait for the system to verify your account details like email and phone number
After successful verification of the account, you will receive a confirmation message, and you are ready to go.
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CoinSwitch
How to do cryptocurrency trading on CoinSwitch from Singapore?
CoinSwitch aggregates all major exchanges on its platform, allowing users to have access to over 300 crypto trading pairs. It supports 45,000+ crypto to crypto exchange pairs and is the largest crypto trading platform where users can trade anonymously on any exchange effortlessly without creating an account.
Below is the step-by-step process for exchanging cryptos on CoinSwitch Singapore:
For this process, let us consider the example of the Bitcoin (BTC) to Ethereum (ETH) exchange.
- First, you need to visit the CoinSwitch website and select BTC in the “You Send” dropdown section and ETH in the “You Get” dropdown.
- Next, you have to enter the value of the BTC you want to exchange. This will display the amount of ETH you can get at the exchange rate.
- In the next step, you need to click on the “View All Offers” button. After you click this button, you can see the list of all exchanges with the amount of Ether (ETH) you will receive on exchange. Here, you can choose the best exchange offer or the one recommended by CoinSwitch.
- Now you need to provide your Ethereum (ETH) wallet address where you want to receive the ETH coins after a successful exchange. You need to double-check the address and read and accept the company terms and policy before clicking on the “Next” button.
- Next, you will see the Bitcoin (BTC) address of the exchange. Here you have to send BTC from your BTC wallet to that address.
- The Ether (ETH) conversion process is initiated once the exchange receives BTC.
The transaction process can be tracked on the CoinSwitch blockchain with easy-to-access links. Upon successful completion of the transaction, you can check the status in your Ether wallet. However, in some instances, you may need to give extra information to see the received funds.
Free quently asked questions
1Is CoinSwitch Cryptocurrency Exchange Platform Trustworthy?
CoinSwitch is a safe and legit platform and is one of the leading exchanges in the cryptocurrency space. The platform is not regulated by any government authority and hence is not bound to comply with trading standards set by regulators.
2Which countries are restricted at CoinSwitch?
CoinSwitch is a global crypto exchange aggregator. However, traders from North Korea, Cuba, Iran, Sudan, Afghanistan, Pakistan, and Syria cannot use the platform.
3How long does it take to complete the transaction on Coinswitch Crypto Platform?
The transaction duration process on CoinSwitch varies based on the size and the cryptocurrency involved in the transaction. However, the average processing time ranges from 15 to 30 minutes.