Coin Switch Review
The cryptocurrency broker Coin Switch has over 100 crypto coins. It claims to be situated in India. However, cryptocurrency brokerage services are not regulated yet. This detailed Coin Switch review will shed light on all the important aspects of it.
About Coin Switch:
First, we will discuss all the advantages of it. There are many crypto coins are provided by Coin Switch. The broker provides convenient service to its clients. It provides the best conversion rates. The customers of Coin Switch claims that the speed of this broker is remarkable and customer support is prompt. As said earlier there are many crypto coins are provided such as Bitcoin, NEO, NEM, Doge, Ethereum, and others. The broker provides a full list of available crypto coins on it’s the official website. A simple platform is offered that is sufficient to perform all the trading tasks. Anonymity is another benefit of it. The traders do not need to perform KYC to trade on Coin Switch. Also, many favourable and good review about it can be seen on the Internet.
Now we will talk about the disadvantages of it. The broker offers a limited exchange opportunity. It does not support popular pair like BTC/ETH. The provided platform is very straight forward it does not inform about price chart, order book, and trading history. The broker does not talk about fees applied to the transactions and trade. Like all the crypto exchange Coin Switch is also unregulated. As this is a new venue and most of the countries are developing a framework to regulate crypto exchange. No leverage trade is facilitated by Coin Switch. It means no margin. Absence of margin makes no profit. It is the major disadvantage of Coin Switch. The broker does not entertain fiat currency trade. It will definitely turn down many traders.
Is Coin Switch scam or legit?
The broker is situated in India and does not hold proper brokerage license. Charges applied are not discussed on the official website. The oversimplified platform is provided that does not keep a record of trading history and price chart. Many popular exchange pairs are not offered. Also, fiat currency is not entertained. It offers only an exchange service and not trading. Additionally, leveraged trading is not provided. All of this makes Coin Switch a potential scam cryptocurrency broker. Avoiding it will be beneficial.