You are currently viewing WazirX vs CoinDCX: Best of the Best explained(2022)

WazirX vs CoinDCX: Best of the Best explained(2022)

Wazirx vs Coindcx- About

CoinDCX

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CoinDCX is a cryptocurrency exchange company which launched on April 7th, 2018. It’s headquartered in India and has a user-friendly interface as well as an increased security level. You can trade fiat currency for crypto instantly with zero fees when you use CoinDCX.

CoinDCX allows users to have access to all kinds of crypto-based financial products and services at one place. They also have some of the most cryptos available, which is relatively unusual.

The cryptocurrency exchange, CoinDCX was founded by Sumit Gupta and is owned by Primestack Pte Limited. They are a Singapore-based company that specializes in crypto-enabled financial services.

CoinDCX operates from Mumbai, India and has a daily crypto trading volume of around $28 million.

They operate from Mumbai, India and have a daily trading volume of $40 million. Committed to creating a secure trading environment for traders, CoinDCX has a team of 50+ professionals with diverse backgrounds that includes software engineers, security experts, mathematicians and data scientists.

Wazirx

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WazirX began operating in 2018 and in less than one year they have reached 400,000 users. Their rating on the app is 4.6 and they offer Indian exchange options for people to trade cryptocurrencies.

WazirX is a part of the Binance ecosystem. WazirX and Binance have launched a $50 Million USD “Blockchain For India” fund, which aims to nurture and empower blockchain based projects from India, that are looking to solve key problems in India.

WazirX is a crypto exchange that was founded by Nischal Shetty. In 2019, the company was acquired by Binance, which is the world’s largest cryptocurrency exchange.

In the 1st quarter of 2020, WazirX’s unique auto-matching system was integrated into Binance’s Fiat Gateway. This gives easy access to cryptocurrency to over a billion people.

WazirX, which is based out of Mumbai, India, is the crypto-trading platform with the highest daily trading volume of around $80 million.

Wazirx vs Coindcx- Features

Wazirx

The platform offers the following features:

1) Low transaction fees

2) You can instantly deposit or withdraw rupees (INR) by using various payment methods.

3) Having smart token fund platform where crypto investors find traders who will help them manage their portfolio

4) Wazir having the world’s first auto-matching P2P engine with high liquidity

4) listed with 190 crypto currencies

5) It provides the facility of instant trading.

6) WazirX offer the utility patent of thier own platform as WRX

7) Token holders will get various trading benefits, such as a discount on exchange fees, WRX trade mining, and airdrops. Margin trading is also available.

CoinDCX

The platform offers the following features:

1) Coin DCX onboarding platform is fast and efficient and verification process can be done within 5 mins.

2) The trading fee at CoinDCX is 0.2%. This is lower than most other exchanges which charge fees of around 0.5%.

3) Listed with 200+ cryptocurrencies

4) CoinDCX has the feature to enable “Trusted Wallet Transactions” to protect their funds at all times.

5) It has the options as DCX insta, DCX lend, DCX future, DCX trade

6) DCXinsta, providing Indian Rupees (INR) onboarding to crypto

7)DCXlend is a decentralized lending service and DCX margin that allows for up to 6x leverage on trades across more than 250 markets.

Wazirx vs Coindcx- Trust and authority factor

Strong founder profile

Wazirx

Nischal Shetty is a Computer Science graduate and has founded several successful businesses, such as Twi5, Crowdfire and WazirX. He was also named under Forbes’ 30 under 30 list entrepreneurs in India.

A passionate blockchain evangelist, he has been active in the Indian crypto space since its inception.

Coindcx

CoinDCX is an Indian cryptocurrency exchange that was founded in 2018 by Sumit Gupta and his college friend Neeraj Khandelwal. CoinDCX became the first crypto unicorn in India with a valuation of $1.1 billion last August

Sumit Gupta graduated from one of the most prestigious IITs in India, before co-founding his own start-up called List-up and its CSX token. His interests include Number Theory and Cryptography.

CoinDCX has announced $90 million in funding led by Facebook co-founder Eduardo Saverin’s B Capital Group.

Security

1) Both exchanges comes with 2-FA (2 factor authenticator)

2) Both exchanges have 95% cryptos in cold wallet(means as storing offline with no internet) and and rest 5 % in hot wallet

3) CoinDCX are secured by BitGo(digital asset insurance company) that gives an edge over WazirX

Collaboration partner and support

WazirX is a part of the Binance ecosystem while CoinDCX investors include Polychain Capital, the venture arm of Coinbase, Bain Capital Ventures and HDR Group – operator of BitMEX.

WazirX has a key advantage over CoinDCX here because it is fully part of binance and has the safer option if governement regulates the the indian exchanges not in their favour.

Ease of money withdrawal and deposit system

WazirX and CoinDCX both offer INR deposits and withdrawal facilities. Your money is placed in the bank’s current account in India. Withdrawing your funds will be available in your account to buy cryptos.

Both exchanges have the limit if you are not done with the KYC verification.

For coinDCX: Deposit and withdraw upto 10000Rs only

For WazirX: withdrawal not allowed if not done with KYC verification

Below are the factors for trading efficieny in both exchanges:

1) Transfer channel medium: Both exchanges having IMPS, UPI, NEFT & RTGS

2) App to transfer: Mobikwik

3) Commisions: WazirX charge a fee of 0.1% fees to order makers, and 0.25% to order takers while CoinDCXcharges both takers and makers 0.10%

4) Minimum amount: both consider min 100Rs

5) Maximum amount: For wazirX is no limit while for CoinDCX is Up to Rs. 5 lakhs depending on your KYC status

6) Time to deposit money: Both takes 72hours

wazirx vs coindcx: Trading fees and charge comparison

For maker fees

Wazirx: 0.2%

CoinDCX: 0.11% to 0.001% based on the 45-day cumulative trading volume.

For trading fees

WazirX: 0.2%

CoinDCX: 0.11% to 0.001% based on the 45-day cumulative trading volume.

The fees at WazirX are slightly higher than the ones at CoinDCX. However, you can earn WRX tokens from referrals which you will be able to spend on other services within the WazirX ecosystem

If you pay your fees in WRX tokens, then you enjoy a 50% fee reduction. Meaning this low rate is only 0.1%, which is great for beginner traders compared to other platforms like CoinDCX where they charge 1%

WazirX has a simple fee structure that includes fixed trade fees and discounted trading fees if you use WRX coins. You’ll also enjoy a wide variety of coins to choose from, and an intuitive user interface for complete comfort.

wazirx vs coindcx: comparative analysis, marketplace, look and feel

1) Marketplace

WazirX

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Have the properties such as

Spot exchange: Spot exchanges are a type of crypto exchange that allow for the trading of crypto assets for cash or other crypto assets

P2P exchange: Directly trade USDT using INR with WazirX acting as custodian

Smart token fund: It is an investment vehicle that allows investors to diversify their portfolios without having to own each individual cryptocurrency.

CoinDCX

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Have the properties such as

Spot trading: Spot trading in crypto means that you are buying and selling the cryptocurrency without any delay.

Trading with a near limitless order book.

Margin trading: When margin trading, traders typically borrow money from their brokers, who in turn borrow it from other investors.

Trade upto 6X leverage across 250+market

Future Trading: The future of trading means that we can trade anything, anywhere and anytime. We could trade stocks, bonds or even cars.

Leverage upto 20X with crypto futures

2) Learning and creator opportunities

wazirX

1) Lean through blogs

2) wazirx creator platform: If you are content creator and willing to skill up your creativity in crypto world then WazirX warrior helps to give you the opportunity to grow.

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CoinDCX

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1) Have the listed number of courses free

2) Directly start learning or explore the relevant topics

3) Research and market insights

3) Crypto trading pairs

On wazirx

Having only 4 base trading pairs such as INR, BTC, USDT, WRX

WazirX offers a 70+ wide variety of cryptocurrencies paired against the Indian Rupee. You can buy them directly with INR in your account

On CoinDCX

Having wide variety of 11 base trading pairs such as

INR, BTC, USDT, BNB, DAI, USDC, ETH, TRX, BUSD, TUSD, XRP

CoinDCX offers just 32 cryptocurrencies for INR trading. To buy any of these, you first need to purchase USDT and use it to buy the crypto.

4) Ease of trading

Platform

Wazir X has the simple and intuitive interface with selected number of trading feature while CoinDCX is for those who are intermediate and have the trading knowledge.

Buy/sell order interface

WazirX trading screen

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List of 10 orders can only be seen at a time.

In wazirX you don’t have the options to short cryptocurrencies

CoinDCX trading screen

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In CoinDCX you can short upto 50 cryptocurrencies

You can get upto 80+ orders in a list of cryptos.

5) Customer support

There are many other ways to connect with them through online media, such as social media and ad campaigns. However, websites request forms and social media channels are the only mediums for user-requested customer contact.

If you save some serious issue you can directly mail them and usually get the response within24-36 hours

A number of users were complaining about excessive delays in INR deposits as well as difficulties with trading during peak hours.

Banks have been hesitant to work with cryptocurrency exchanges and this has caused huge price fluctuations in the crypto markets. 

These both exchanges are active through mailing if there is some issue going on and usually get the response very soon.

What would be your choice?

If you want these features then opt for WazirX

1) Clean, user relevant, intuitive interface with selected features

2) Fixed fees of 0.1% trading fees if using WRX coins

3) Instant order placement

4) Real time rates

5) Allows UPI for IMPS, NEFT, RTGS

6) Withdraw INR directly to the bank

7) Get the opportunity as a content creator in wazirX warrior platform.

If you want these features then opt for CoinDCX

1) CoinDCX has an intuitive interface with customizable themes to suit different preferences and screen sizes.

2) Get access to DCX(margin, spot, insta, stake, futures, lend) trading features

3) Explore with the learning opportunity

4) Advanced features and trading activity

5) Allows UPI for IMPS, NEFT, RTGS

6) Use of short trading strategy

7) Commission rate of 0.2% for trade you do

8) Platform’s API allows traders to create their own trading bots and strategies.

9) The smart contract protocol ensures that transactions are executed in a secure manner without the involvement of any third parties.

10) Instant order placement.

Conclusion

CoinDCX and WazirX are two of the popular cryptocurrency exchanges in India. They have a lot of similarities but also some key differences.

CoinDCX seems like an excellent option for intermediate traders who are looking for an easy-to-use cryptocurrency exchange with good liquidity and low trading fees.

WazirX Paired with our easy-to-use and user-friendly interface, you have everything you need to enjoy a quick and seamless exchange.

The conclusion is that CoinDCX is better for crypto-trading with wide variety of options. However, WazirX is better for crypto trading in multiple trading with wide variety of cryptocurrencies with INR.

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