Comparison of Unocoin vs Coinswitch [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Unocoin vs Coinswitch comparison!

Your expert: Alejandro Borja

Unocoin

Your expert: Xavier Tarrasó

Coinswitch

Main points

Fees

≈ 0,20%/0,70%

Earns

Yes

Customer service

3/5

0,00%/0,50%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in India.

4.0 – Low fees with a focus on instant crypto swaps.

Level

≈ 0,20%/0,70%

0,00%/0,50%

Brief explanation

Unocoin’s commission structure is designed to facilitate easy entry into the cryptocurrency market, yet it’s important for users to be aware of the costs involved. The platform charges a fee for buying and selling cryptocurrencies, which can be considered slightly higher compared to other global exchanges. These fees are typically a percentage of the transaction value, and while they ensure the platform’s operational efficiency and security, they may impact users looking to execute frequent trades or those with smaller budgets. Understanding these fees is crucial for effective financial planning and maximizing potential returns from cryptocurrency investments.

CoinSwitch employs a variable fee structure, which ranges from 0% to 0.49% per transaction. This fee is integrated into the exchange rate provided to users, making it less visible upfront. While this can be competitive, especially for smaller trades, the lack of clear breakdowns can make the fee structure feel somewhat opaque. For credit and debit card purchases, CoinSwitch uses Simplex, a third-party payment processor, which can add additional costs. These fees can be substantial; for instance, users purchasing Bitcoin via Simplex may experience an effective fee of up to 10% when considering both the Simplex and CoinSwitch fees. Moreover, network (or miner) fees are applied to all transactions and are dependent on the blockchain used. These are additional to the CoinSwitch fees and can vary based on network congestion and other factors. In summary, while CoinSwitch offers a convenient and user-friendly platform, potential users should be aware of the combined costs of CoinSwitch’s variable fees, Simplex processing fees for card transactions, and blockchain network fees, as these can collectively impact the total cost of trading on the platform.

Unocoin

Year Founded: Established in 2013, Unocoin has been operational for nearly a decade, showcasing its resilience and sustained relevance in the rapidly evolving cryptocurrency market.
Security Methods: Unocoin employs robust security measures including two-factor authentication (2FA), a cold storage system for cryptocurrency assets, and SSL encryption, ensuring a high level of security for its users' investments.
Reputation and Reviews: With a strong presence in the Indian market, Unocoin enjoys a positive reputation among its users and has been featured in numerous mainstream media outlets, highlighting its credibility and reliability.
Customer Service: Known for its dedicated support team, Unocoin provides timely customer service and support, which is crucial for new users navigating the complexities of cryptocurrency investments.
Volume Managed: Handling a significant volume of transactions daily, Unocoin demonstrates adequate liquidity, which is vital for users looking to execute trades efficiently without substantial price slippage.

Coinswitch

Year Founded CoinSwitch was founded in 2017, providing it with several years of experience in the cryptocurrency exchange industry. Its longevity adds to its credibility and trustworthiness.
Volume Managed The platform manages a significant trading volume, indicating its liquidity and the trust traders place in it. High trading volumes often reflect the platform's efficiency and reliability.
Number of Users CoinSwitch has a substantial user base, with millions of users worldwide. This wide adoption is a testament to the platform's reliability and the trust it has earned in the cryptocurrency community.
Reputation and Reviews CoinSwitch has garnered positive reviews from users and industry experts alike. Its reputation is bolstered by its user-friendly interface, extensive range of supported cryptocurrencies, and consistent performance, making it a trusted choice among cryptocurrency exchanges.
Security Methods CoinSwitch employs robust security measures, including encryption protocols, two-factor authentication (2FA), and cold storage for the majority of user funds. These security practices help ensure the safety of users' assets and personal information.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Unocoin Technologies Private Limited

Bitcipher Labs LLP

Regulation

Not regulated

Year founded

2013

2017

Founder

Sathvik Vishwanath, Harish B V, Abhinand Kaseti, Sunny Ray

Ashish Singhal

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Unocoin	FEATURES	Coinswitch
Unocoin offers a relatively low minimum trade amount, making it accessible for beginners to start trading without requiring a significant initial investment.	Minimum Trade	CoinSwitch does not explicitly set minimum trade values, allowing for flexibility depending on the partner exchange used. This makes it accessible for traders of all levels
The platform’s fee structure is on the higher side, which might be a deterrent for those looking to maximize their returns on smaller trades.	Trading and Transaction Fees	CoinSwitch charges fees ranging from 0% to 0.49%, which are built into the exchange rates. While competitive, these fees can be less transparent, especially when using credit cards
Unocoin supports only a limited selection of major cryptocurrencies, which may not satisfy users interested in a broader array of options.	Number of Cryptocurrencies	CoinSwitch supports over 300 cryptocurrencies, providing a vast selection for users
Offers some crypto-to-crypto trading pairs, but the options are not as extensive as those available on larger international platforms.	Crypto-to-Crypto Trading Pairs	The platform offers more than 45,000 trading pairs, making it easy to trade between a wide variety of cryptocurrencies
The website provides clear information regarding fees, policies, and security practices, aiding users in making informed decisions.	Website Transparency	While CoinSwitch provides some information on fees and services, the details can sometimes be unclear, especially regarding hidden fees and exchange rate breakdowns
Unocoin lacks an exchange card, limiting flexibility and benefits for users looking to utilize crypto for everyday transactions.	Credit/Debit Card	CoinSwitch does not provide an exchange card for in-store purchases.
Offers secure storage solutions including cold storage, which provides a high level of security for users’ digital assets.	Storage Offering	CoinSwitch does not offer dedicated storage solutions but supports integration with various wallets, allowing users to manage their holdings externally
Limited staking options are available for certain cryptocurrencies, providing users with an opportunity to earn rewards on their holdings.	Staking and Rewards	CoinSwitch offers staking options for various cryptocurrencies, allowing users to earn passive income. However, staking rewards can be relatively low and come with some risks, such as illiquidity
Both mobile and desktop platforms are user-friendly and well-designed, making trading accessible at home or on the go.	Mobile App and Desktop	The platform has a highly-rated mobile app available for both Android and iOS, offering full functionality and ease of use on the go
Provides a decent level of customer service with support available through multiple channels, though response times can vary.	Customer Service	CoinSwitch provides customer support through online forms, with decent response times. However, there is no direct email or phone support, which can be limiting for urgent issues
Supports a variety of deposit and withdrawal methods, but fees and processing times can be a drawback for some users.	Deposit and Withdraw	Deposits and withdrawals are straightforward on CoinSwitch, with various methods available. However, fees and processing times can vary depending on the method used

Key features

Analysis tools

Basic charting tools

No significant trading tools, mainly an aggregator

Mobile APP

Security

High 4,6/5

Additional features

Staking, recurring buys, Unocoin Earn, bill payments

Instant crypto swaps, CoinSwitch Earn, CoinSwitch Kuber app, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

10+

300+

User-friendliness

Unocoin provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

CoinSwitch provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides decent value for money with competitive fees and strong local support in India, making it a good choice for regional users.

Delivers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

India

India, United States, Canada, United Kingdom, Australia

Best for

Ideal for Indian investors seeking a reliable platform with competitive fees and strong local support.

Ideal for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

INR, BTC

BTC, USDT (varies by transaction)

Account

Trading

Unocoin is a popular exchange in India, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees compared to some other exchanges.

CoinSwitch is an aggregator platform providing access to multiple exchanges through one interface. It supports a wide range of cryptocurrencies but charges additional fees for its service.

Deposit and withdrawal

Unocoin is popular in India, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

CoinSwitch is an aggregator that provides access to multiple exchanges through one interface. It supports various deposit methods, and withdrawals are processed efficiently with low fees.

Account opening process

Unocoin provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

CoinSwitch offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually taking less than a day to complete.

KYC required?

Yes

Customer Service

Unocoin provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in India.

CoinSwitch offers customer support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Unocoin provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

CoinSwitch provides robust security with 2FA and encryption. Despite its strong security measures, the platform lacks regulation from major financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the analysts here, I recommend considering Unocoin if you’re starting out with cryptocurrencies, especially if you are based in India. The platform is user-friendly, making it less daunting for beginners to navigate the crypto space. Additionally, Unocoin’s unique offering of a Systematic Investment Plan for Bitcoin sets it apart, providing a structured way to invest in Bitcoin. However, keep in mind the higher transaction fees and the limited selection of cryptocurrencies, which might be limiting if you’re looking to explore a wide range of crypto assets.

Xavier Tarrasó

As an expert on our website, I highly recommend CoinSwitch for those new to the cryptocurrency market. Its user-friendly interface makes it easy to navigate, even for beginners. The platform offers an impressive range of over 300 cryptocurrencies and supports more than 45,000 trading pairs, allowing for diverse trading opportunities. Security is also a strong point, with advanced measures such as two-factor authentication and cold storage in place. Although transaction fees can be slightly higher, the convenience and breadth of options available make CoinSwitch a valuable tool for anyone looking to start or expand their crypto trading journey.

Read Unocoin review

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Read CoinSwitch review

View all comparisons against Coinswitch

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Unocoin vs Coinswitch [ 2024 ]

Unocoin

Coinswitch

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Unocoin

Coinswitch

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Unocoin and Coinswitch