Strength and Weakness of Koinex - Indian Crypto Exchange that you cannot miss

Koinex is enhanced with all latest features empowering its users to trade in multiple cryptocurrencies. Koinex was launched in August 2017. Though it being a newbie, it has gained huge popularity among cryptocurrency enthusiasts. If you want to trade using Koinex, refer this How to buy and sell cryptocurrency from Koinex | A step-by-step guide

Strength and Weakness of Koinex - Indian Crypto Exchange that you cannot miss
 Now, let’s look at both sides of the coin for Koinex.



Pros of Koinex

  • Along with Bitcoin(BTC), Koinex helps you to trade in multiple cryptocurrencies such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH). So, if you are thinking to diversify your portfolio in various cryptocurrency then this platform can solve your problem.
  • Your deposit is quickly reflected in your Koinex wallet under ‘Balance’ when you add funds using IMPS. Whereas in other wallets it takes time to reflect the deposit. As of now, they are facing downtime and have disabled transfer through NEFT/RTGS/IMPS. So before you transfer make sure it is enabled.
  • The process of depositing/withdrawing funds to Koinex’s wallet is extremely user-friendly.
  • The platform is highly intuitive allowing you to withdraw your funds after selling cryptocurrencies.
  • Koinex helps you to trade cleverly as the difference between the selling and buying price of cryptocurrencies is extremely low. In short, you don't have to worry for selling price of cryptocurrency to rise while selling digital currency. This helps you to earn good profit gradually.
  • When dealing with cryptocurrencies your wallet needs to be highly secured. Koinex has integrated latest security feature - 2-Factor Authentication (2FA) and thus allowing you to focus on trading rather than its security.
  • Bank deposit and withdrawal fees are Rs. 0. Koinex doesn’t charge you anything for it.
  • Our tracker - StalkOwl Crypto, helped to conclude that Koinex has lower buying price for cryptocurrencies as compared to other wallets. You too can track, set price alert for Bitcoin at StalkOwl Crypto tracker. Refer this article to - Set Price Alerts for Bitcoin, Ethereum & Litecoin in India Using StalkOwl



Cons of Koinex

  • Koinex only has a web application. It doesn’t offer any mobile app. So, friends be aware of duplicate apps available in the market.
  • It provides two ways for funds transfer - NEFT/RTGS/IMPS/ and Payment Gateway. If you select Payment Gateway as payment mode then additionally you need to pay 2% fees.
  • The trade fee charged for Buy Order is 0.25% and for Sell Order is 0.20% (inclusive of all taxes). You can learn more about Koinex fees here - https://koinex.in/fees .
  • BTC transfer fees are high (0.001 BTC). So if current BTC price is Rs. 14,00,000 and you want to transfer your BTC to another address then 0.001 BTC (Rs. 1400) will be deducted from transferred BTC. Transfer Fees for other cryptocurrency are.
    • 0.001 BTC
    • 0.003 ETH
    • 0.02 XRP
    • 0.01 LTC
    • 0.001 BCH

How was your experience in trading cryptocurrency using Koinex? Share with us in comments!
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Strength and Weakness of Koinex - Indian Crypto Exchange that you cannot miss Strength and Weakness of Koinex - Indian Crypto Exchange that you cannot miss Reviewed by StalkOwl on December 30, 2017 Rating: 5

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