koinex Exchange India: Review,Guide,Scam or Not ?

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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.

koinex Exchange India: Review,Guide,scam or Not ?

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.

Behind Koinex.in

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.

How to Buy/sell cryptocurrency using koinex?

My main aim of using koinex is to start trading on Ethereum. And believe me, I start loving this. Therefore I am writing this koinex review.

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First, you have to make an account using this link and verify using the phone number as well as using email id.

                                   <<Singup Now>>

Then you will redirect to a page where you have to insert your Bank account number, your id card, and other things. After verification, your dashboard will look like something this.

koinex Exchange India: Review,Guide,Scam or Not ?

Usually, verification process takes 2,3 days.

You can deposit your money using bank transfer but I love the feature of depositing money using payment gateway like mobikwik, feecharge and jiomoney. The process of deposit money takes time of 1 working hours.

 

After successful payment, your wallet shows money like this.

koinex Exchange India: Review,Guide,Scam or Not ?

Now you are ready for trading. Simply you have to choose cryptocurrency for which you want to start trading. In my case, I will choose default currency i.e ethereum.

koinex Exchange India: Review,Guide,Scam or Not ?

For buying Ethereum I will put volume of how much I want to buy and the price at which I want to buy.Suppose you want to buy your 0.5 Ethereum at the cost of 19.5 thousand and there is a trader who also wants to sell 0.5 Ethereum at the price of 19.5 thousand.

After that click on the BUY button.

koinex Exchange India: Review,Guide,Scam or Not ?

After clicking the buy button, one pop up will appear which show verification of trading. Click on CONFIRM.

koinex Exchange India: Review,Guide,Scam or Not ?

Your trade is ready. So in the trade history when both the value will be matched the trade will be completed automatically. Etherum is automatically bought by you when you reach same market price for this Ethereum trade.

koinex Exchange India: Review,Guide,Scam or Not ?

The process of selling cryptocurrency is also same.

Here is a short video will help you to do trade easily.

Cons of koinex.in

Actually, i am a Big fan of this site, I found only this problem on site otherwise this site is good for any type of investor.

  • The volume is very low in terms of trade
  • They are not giving any type of gift vouchers or incentives as a new user
  • in rarer case 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
  • in my case whole KYC process is done in 1 month which is worst.
  • Litecoin,ripple and altcoin support option is also there.
  • multi wallet option.
  • exchange and all transaction are fast.
  • withdrawal of money within a minute.
  • More number of users and trade happening per day

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.

koinex Exchange India: Review,Guide,scam or Not ?

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.

Conclusion

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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Cheers!!

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38 COMMENTS

  1. Koinex is definitely a game changer when it comes to crypto exchanges in india. Multiple altcoins are also available to trade in. I would definitely recommend koinex to people looking for exchange in india

  2. am very disappointed with Koinex, all my documents are in place but its already 7 days and KYC is not completed, i have deposited good amount of money in INR account, i cannot withdraw that money nor invest because its shows KYC is in process, i dont know how long will it take as am stuck with my money blocked.And now fear may loose my money.

    • you should wait until your kyc is verified by company. verification process is getting late due to high traffic. once your kyc is verified, you will get your money back.

  3. koinex is worst. It says it takes 48 hours for KYC process and this is almost a week here and KYC is still under review and the support never turns up. It is just for display that the support will turn up to you in 24 hours. No good management. They are not even concerned about the change in prices. Really disappointed with Koinex !!

    • due to high traffic they are taking more then 1 week for verification. this is fast as compare to other indian company’s

      . and you should know bitcoin price is volatile it keep changing in second.

  4. Hi, my kyc is under review for the last 7 days(initiated on 14 dec), how much time it will take to complete the review and do I need to add some money into my koinex account to get the KYC verified?

  5. I am Trying to Contact the Knoinex through E mail for multiple times around (20-30) for withdraw error but there were no replay so far, i am very my disappointed.
    Around 50k of my money got stuck i have received for two days.

    is there any other way to contact them soon.

  6. Hii my account is not working more than 50 hrs I sign in show ( we are currently monitoring your account.All activities temporarily disabled .) I entered wrongly 2FA password in security I entered and OTP receive and I put it and then account not working
    Please tell me
    I 5 and more time mail Coustomer exucative no reply
    What time need to open account

  7. i have recently opened account with koinex, I am confused between trading and buying ? can I buy bitcoin from this site and keep it for some time, i.e. in normal trading we buy and sell on same day however here is it possible that we can buy and keep for a month or two and then sell? also if there are no buyers on this particular platform then how can we transfer that bit coin amount from here to other wallets like zebpay etc.

    • yes it is possible. firstly you should be clear about your investment , what do you want from this. money or holding?
      if you are holding then i will suggest to go with any cold wallet like ledger or paper wallet. keeping your currency in exchanges is risky.
      if your want to trade then it is risky but you can earn money fastly. always check secuirty risk of company and other thing.
      you can also transfer your bitcoin to zebpay.

  8. i have entered the wrong bank account no while transfering the money..and the money got deducted from my bank..what should i do now?

  9. Hi this side madhu,
    After Google Authenticator verification , when I applying OTP, it shows invalid OTP,
    Any one can help me to sign up my account, I also raised ticket more then 3 time but there is no response

    • there are lots of negativeness in market regarding koinex. i never found any problem but this is true taht they never reply of your mail or message.

  10. My KYC was got approved within 5-6 days but once I deposited the amount it never got credited to my wallet and I tried to deposit using express transfer it then I had no issues but I had to pay some charges. Very disappointed with their service on deposits and their support never responds even after multiple emails.

  11. I am an employee with salary INR15000/-.I have made payment Rs.15000/- to Koinex throught NEFT on 28.12.2017, But it did not reflect in my koinex account, After sending a number of mails and meesages on facebook, they send me an email with Support ticket number. But on 30.12.2017, I did not get my payment in my koinex account what should I do Please suggest. They did not reply to any mail or messages even today. I think I lost my money they are So unprofessional. Please suggest

  12. Hello I was using koinex account trading smoothly but sudanly I received the notifications that account rejectd my 57000 rs in koinex Wallet somebody can help me. how i will back my money

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