IMAGE: COINSWITCH AND COINBASE TWITTER
Cryptocurrencies have become increasingly popular in India over the last year, the Supreme Court lifted RBI's ban on crypto back in March 2020. The reason behind the rising popularity of crypto exchanges is the easy accessibility to crypto provided by the crypto exchanges operating in India and abroad. A crypto exchange is a platform where investors can buy, sell or trade cryptocurrencies using their fiat currency. New crypto investors can become confused about which exchange to choose. In this article, we'll be comparing two crypto exchanges Coinbase vs Coinswitch Kuber, to help potential investors decide which is the right choice for them.
Coinbase is an international crypto-exchange that operates in many countries around the world. Coinbase is considered to be one of the most trustworthy and accurate crypto exchange in the crypto community. Meanwhile, Coinswitch Kuber is an India focus crypto exchange that has an extremely clean UI that is useful for newcomers. It should be noted that Coinbase is not yet available in India. However, there are several ways people can still use Coinbase from India. While there are many aspects to be considered when choosing a cryptocurrency, one of the important aspects is the fees charged.
Coinbase is an international exchange that operates in multiple countries. Incidentally, Coinbase charges are some of the highest in the crypto industry. Coinbase charges a 0.5 per cent fee per transaction. As for withdrawal fees, Coinbase charges a flat $0.55 fee and up to 2.0 per cent of the value of the transaction. While CoinSwitch Kuber charges nothing for depositing and withdrawing money to their application, they do have hidden charges.
Whenever you purchase a cryptocurrency on CoinSwitch, the company deducts 1-2 per cent from the cost of the purchase. Moreover, CoinSwitch has different buying and selling price for their cryptocurrencies, which is an unusual practice. Moreover, there many advanced Coinbase features that cannot be found elsewhere like the option to keep a wallet. In contrast, there are very few Coinswitch Kuber features that are worth mentioning.
It should be noted that CoinSwitch has a very clean UI and UX. If you are looking to invest small amounts of money regularly, Coinswitch is a good choice. Beginners who are not very knowledgeable about crypto should opt for CoinSwitch as the app is fairly easy to use. However, if you want to make large investments and do day trading, Coinbase is the best option for you. They are a world-class crypto exchange with impeccable service if you can afford their fees. You can transfer funds and use Coinbase with your international debit and credit cards.