CoinDCX vs CoinSwitch.

Facts side by side for Indian users. Not a rating or a recommendation. Last checked November 2026.

Registered with FIU-INDYesYes

Crypto withdrawalsRestrictedReported as restricted for many accounts.UnclearUsers report sell-to-INR only; some guides say withdrawals are allowed. Check in the app.

INR depositsBank transfer (check app for UPI)UPI and bank transfer

Proof of reservesNot verifiedNot verified

Incidents on record3 reportedNone listed

Coins listed451Not tracked

CoinDCX: incidents and reports

Jul 2025. About $44M taken from an internal operational account; covered by the company.
Oct 2026. About $16M lost from retired wallets; covered by the company.
Nov 2026. ED searched premises linked to its operator under FEMA over alleged cross-border transactions. Allegations only; no charges announced.

User reports: Slow support on withdrawal issues.

CoinSwitch: incidents and reports

No incidents on our board.

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Questions

Is CoinDCX or CoinSwitch safer?

Neither is "safe" in absolute terms. Compare the facts above: FIU-IND registration, whether you can withdraw crypto to your own wallet, and past incidents. Whichever you use, keep only what you trade on the exchange and turn on two-factor authentication.

Do CoinDCX and CoinSwitch deduct 1% TDS?

Exchanges registered with FIU-IND and serving Indian users are expected to deduct 1% TDS on crypto sales. Check your AIS on the income tax portal to confirm what was deducted under your PAN, and claim it in your ITR.

Can I use both CoinDCX and CoinSwitch?

Yes. Many people use more than one exchange. For tax, report trades from every exchange in Schedule VDA and match the TDS in your AIS.

Educational only, not a recommendation. Facts come from the exchanges and reliable reporting; check the app before you act. Read how to choose an exchange.