koinex Exchange India Review,guide for exchange and scam alert.
Hello, crypto investors,
As we all know about cryptocurrencies like Bitcoins, Ethereum, Litecoins etc. Somewhere around we all want to invest in this digital currency. In our previous post, we saw the various methods of buying/selling cryptocurrency. We all know the process of buying bitcoins and to transfer it.
We can buy bitcoins in Indian currency easily by Unocoin, Zebpay, Coinsecure. In terms of buying Ethereum, most of the people make mistakes in India. They first purchase bitcoins and then they convert it into Ethereum to store in the wallet. Sometimes these deals make a profit but most of the time there Is chances of loss. So it doesn’t make sense to invest like this where there are more chances of loss.
Here you will get to know the role of koinex Exchange.
What is Koinex exchange?
Currently, etherxIndia.com is the best site to trade in Ethereum in India. But when you go to this site they have blocked the sign-up option for new users for last 3 or 4 months. Also, it will be closed for more 2 to 3 months until they verify the every old user and the KYC. So know for trading in cryptocurrency you can use koinex Exchange.
After a long time and a dedicated hard work, the three Indians have finally achieved this the Koinex multi-coin exchange. In Koinex.in you can easily trade in the Indian currency itself.
Koinex has been founded by Rahul Raj(IIT Kharagpur), Rakesh Yadav(IIT Delhi), Aditya Naik(BITS Pilani). They first introduced this blockchain technology in 2016. The founders began cryptocurrency trading in 2017. They observed the gap between the terms of quality delivered by global exchanges and the present Indian exchanges. So they decided to build an Indian exchange supporting INR fiat currency. Thus koinex was made by this realization.
Types of crypto Currency you can trade?
The founder of the koinex said that initially, koinex will support 4 coins right at the beginning: Bitcoin, Ethereum, Litecoins, and ripple. They promised that the other altcoins will be added frequently. Currently, koinex supports fiat to crypto. For example INR/BTC and INR/ETH. Crypto to cryptocurrency trade will be live soon.
Process of trading on koinex
There will be three option on the site buy orders, sell orders, and trade history. Simply you have to select the volume means how much you want to purchase.
Then you have to select the price that at which cost you want to purchase. For selling it becomes easier.
Suppose you want to sell your 0.5 Ethereum at the cost of 19.5 thousand and there is a trader who also wants to purchase 0.5 Ethereum at the price of 19.5 thousand.
So in the trade history when both the value will be matched the trade will be completed automatically. For this you have to make an account on the koinex site. You have to register your KYC and the bank detail for the verification purpose.
for more details you can visit official site.
Cons of koinex.in
- They will charge rupees 100 for KYC registration which no one does
- They promised to adjust it in the first trade but it does not make any sense
- They charge rupees 50 for password change
- I mean who does it, so never ever forget your password
- The volume is very low in terms of trade
- Very less number of users and trade happening per day
- They are not giving any type of gift vouchers or incentives as a new user
- INR withdrawal takes 2 days, so you have to wait for a very long time
Pros of koinex.in
- KYC is done in 1 to 2 days if everything is fine
- So it is a plus point
- Chat function
- Litecoin and ripple support option is also there
Why you should use koinex.in?
It will provide the security to the users. It is a quick wallet which will help in trading and tracking. The payment methods available are- cards, bank transfer, and cryptocurrencies. It will manage the cryptocurrencies in INR in the user’s wallet.
The instant help will be provided to the user. Also, the transaction fee is very low for all the trading methods. The apps are available for android store and the IOS store. It will increase the number of users.
It’s a new platform for the users. Especially for the users who want to trade in INR. Every individual will try to break this new platform. The main reason that lacking behind India in digital currencies investment are the fewer options to trade in terms of quality as well as In limited currency option.
So koinex Exchange is breaking that chain. Also, koinex.in is filling the gap between the user interface and experience by INR investment. It will increase the interest of Indian market in the investment of cryptocurrencies
I hope this post will help you the understand little bit about koinex.in. so please share this post to your friends and family. Let them know about the digital currencies.
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