WazirX:
Mumbai-based crypto exchange wzirX was launched in 2017. Later, it had been taken over by Binance Holdings, which is that the world’s largest cryptocurrency exchange by trading volume. This makes it one of the leading and trusted Indian crypto exchanges. If your primary objective is to trade cryptocurrencies, you’ll use WazirX to trade on Binance.
CoinDCX:
CoinDCX is an all the rage and the best cryptocurrency exchange in India, launched in 2018. It offers a truly user-friendly interface and a good sort of over 200+ coins with high liquidity. It chains unlimited trading, and therefore the trading fee is often as low as 0.1%.
One can deposit and withdraw money free of charge. CoinDCX provides access to trading products like spot, margin, futures, and lending employing a single powerful portfolio wallet. Also, it’s an Insta feature where you’ll buy 40+ cryptocurrencies with INR in but a moment.
Key Highlights:
- Trading Fee as low as 0.1%.
- Free deposits and withdrawals.
- Over 200+ Cryptocurrencies.
- Simple and user-friendly.
Money Deposit & Withdrawal:
WazirX and CoinDCX both support direct deposits and withdrawal services. The money deposited is reserved in their bank’s current accounts in India which is available in your account to buy crypto.
You can utilize it anytime to buy bitcoin and any other cryptos with a reserve in your account.
| Particulars | WazirX | CoinDCX |
| Channel | IMPS, UPI, NEFT & RTGS | IMPS, UPI, NEFT & RTGS |
| Apps | Mobikwik | Mobikwik |
| Deposit Fees | IMPS, NEFT, RTGS: Rs. 5.90 per transfer UPI: Rs. 4 per transfer | Rs. 0 |
| Time | Maximum – 72 hours | Maximum – 72 hours |
| Minimum amount | Rs. 100 | Rs. 100 |
| Maximum amount | No maximum limit | Up to Rs. 5 lakhs depending on KYC status |
WazirX does not allow withdrawal until you have completed KYC and bank verifications.
On CoinDCX you can deposit and withdraw up to Rs. 10,000 in case of pending KYC.
WazirX vs CoinDCX Trading Fees & Charges Comparison.
Spot exchange (marketplace where buyers & sellers trade cryptos instantly) is the only common marketplace in both WazirX and CoinDCX exchanges. Comparison of trading fees for Spot exchange is as under:
| Particulars | WazirX | CoinDCX |
| Maker Fees | 0.2% | 0.11% to 0.001% based on the 45-day cumulative trading volume. |
| Taker Fees | 0.2% | 0.11% to 0.001% based on the 45-day cumulative trading volume. |
CoinDCX charges fees supported for your last 45-day trading levels. Calculation of which may be complex for the new crypto trader. WazirX features a fixed 0.2% fee that’s higher in comparison to CoinDCX. But WazirX chains a referral program where you’ll earn WRX tokens. If you pay fees via WRX token, then you get a flat 50% discount on the fee. This way you would have to pay 0.1% which is low for beginners traders as compared to CoinDCX and On top of that WRX tokens are listed and have recently delivered handsome returns, making it a win-win situation for WRX users.
WazirX & CoinDCX Customer Service Comparison:
Only website request forms and social media channels are available for users in the form of customer reach. WazirX and CoinDCX received complaints from users about the delays in INR deposits and problems in trading during peak hours. This may be due to the banks not cooperating with the exchanges and therefore the current huge price fluctuations in the crypto markets.
Grievances Management:
Both the exchanges have endeavoured best to acknowledge the problems through their Twitter handle. WazirX and CoinDCX recently found out crypto exchanges and are ramping up their IT infrastructure and team to necessitate themself to take care of the grievances.
