CoinDCX vs CoinSwitch: safety, withdrawals and fees compared
CoinDCX vs CoinSwitch for Indian users: FIU-IND registration, crypto withdrawals, INR deposits, fee models, past incidents and tax reports, side by side.
CoinDCX and CoinSwitch are two of the most-used crypto exchanges in India, and "which one should I use?" is one of the most common questions new users ask. Indefi doesn't recommend exchanges, but we can lay out the facts that matter side by side, so you can decide.
At a glance
| CoinDCX | CoinSwitch | |
|---|---|---|
| FIU-IND registered | Yes | Yes |
| INR deposits | Bank transfer; check app for UPI | UPI and bank transfer |
| Crypto withdrawals to your wallet | Reported as restricted for many accounts | Conflicting reports; check in app |
| Fee model | Published maker/taker trading fees | Largely built into buy/sell price |
| Proof of reserves | Not independently verified by us | Not independently verified by us |
| Major incidents | Jul 2025 ( | None found in our research |
| 1% TDS deducted | Yes | Yes |
Facts change often. Check the latest on our exchange safety board, last checked date shown there.
Safety and track record
CoinDCX reported two incidents: about $44 million taken from an internal operational account in July 2025 and about $16 million lost from retired wallets in October 2026. In both cases the company said it would absorb the loss and customer funds weren't affected. See CoinDCX's 2026 loss and the CoinDCX page.
CoinSwitch had no major security incidents in our research. See the CoinSwitch page.
Neither exchange has published proof of reserves that we've been able to verify independently. A clean record isn't a guarantee, and a past incident handled well isn't automatically a red flag. What matters most is how much you keep on any exchange.
Fees: compare the real rupee cost
The two charge differently:
- CoinDCX lists maker and taker fees, which can fall with higher trading volume. GST applies to fees.
- CoinSwitch mostly builds its cost into the buy and sell prices (the spread), so the fee looks low or zero but the price you get is worse.
The fairest test: check what you'd receive for selling the same amount of the same coin on both apps, at the same moment. Fee pages change, so always check the current schedule.
Withdrawing crypto to your own wallet
This matters if you want to use DeFi, claim airdrops or hold coins yourself.
- On CoinDCX, many users report crypto withdrawals are restricted, depending on the account and coin.
- On CoinSwitch, reports conflict: some users say it's sell-to-INR only, while some guides say withdrawals are allowed.
Check the withdraw option in the app for the coin and network you need before you deposit. See moving USDC to your wallet.
Ease of use
CoinSwitch is designed to be simple, with a clean buy and sell flow and other investment products in the same app. CoinDCX offers more advanced trading tools, more pairs and features for active traders. If you're a beginner, simplicity reduces mistakes; if you trade actively, tools and fee structure matter more.
Tax: the same on both
Both deduct 1% TDS on sales, visible in your AIS. Gains are taxed at 30% plus cess, losses can't be set off, and every transfer goes in Schedule VDA. Both let you download trade history; use it with our CSV tax report. See crypto tax in India.
How to decide
Ask yourself:
- Do I need to withdraw crypto to my own wallet? If yes, confirm it's available for your coin first.
- Will I trade often? Then compare real costs on your usual trade size.
- Do I want the simplest possible app? Simplicity helps beginners avoid mistakes.
Use our full exchange checklist, spread risk across platforms, and protect your account with 2FA.
Frequently asked questions
Is CoinDCX safe?
CoinDCX is registered with FIU-IND and covered losses from its 2025 and 2026 incidents with company funds, according to its statements. No exchange is risk-free: use 2FA, a withdrawal whitelist, and don't keep more on any platform than you need.
Is CoinSwitch safe?
CoinSwitch is registered with FIU-IND and we found no major security incidents in our research. Registration isn't a safety guarantee, so apply the same precautions as on any exchange.
Which is cheaper, CoinDCX or CoinSwitch?
They charge differently. CoinDCX publishes maker and taker trading fees, while CoinSwitch's cost is largely built into the buy and sell price. Compare the actual rupee cost of the same trade in both apps, including the spread, before deciding.
Can I withdraw crypto to my own wallet from CoinDCX or CoinSwitch?
It varies and changes over time. Many CoinDCX users report restricted crypto withdrawals, and reports on CoinSwitch conflict. Check the withdrawal option in the app for the specific coin before depositing.
Do both deduct TDS?
Yes. As Indian exchanges, both deduct 1% TDS on sales, which appears in your AIS and can be claimed in your ITR.
Sources
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