How To Use And Buy CoinDCX
CoinDCX is India’s safest cryptocurrency exchange. CoinDCX’s massive liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX also provides spot, margin, futures, and fiat-to-crypto trades making it an inclusive ecosystem for all types of traders. Some of its products include Insta through which people can buy cryptocurrency in INR, Spot which enables trading in 250+ markets, and Margin for trading with 5X Leverage. The platform also has a portal named DCX Learn which is a blockchain and cryptocurrency academy built to provide the right education to equip and empower young minds. CoinDCX launched the CoinDCX Go app, Simplest Crypto Investment App in January 2021.
What is CoinDCX?
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital.
The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone.
What is ‘CoinDCX Earn?
‘CoinDCX Earn’ is a brand new way for investors to make passive earnings on their idle crypto investments. Given the volatile nature of crypto assets, Earn allows investors to add secured passive earnings of up to 13% in addition to benefiting from market movements in the long term.
Earn allows investors to not just outlook crypto assets as short-term opportunities but as assets to help build crypto wealth. ‘Earn’ could be the best fit to help build your crypto portfolio for the long term.
In addition to earning benefits, there is no lock-in period on ‘CoinDCX Earn’. The ‘Earn’ feature can be beneficial for investors who ‘HODL’ their crypto assets for longer and help bring in investment discipline as well.
How does CoinDCX Earn work?
CoinDCX Earn is a feature offered by CoinDCX, which is a cryptocurrency exchange based in India. It is designed to allow users to earn interest on their cryptocurrency holdings. Here’s how it works:
- Choose a cryptocurrency: CoinDCX Earn supports a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many more. Users can choose the cryptocurrency they want to earn interest on.
- Select an earning option: CoinDCX Earn offers two earning options – Flexible and Locked. The Flexible option allows users to withdraw their cryptocurrency at any time, while the Locked option requires users to commit to a fixed term, usually ranging from 30 to 90 days.
- Choose an interest rate: The interest rates offered by CoinDCX Earn vary depending on the cryptocurrency and the earning option selected. The rates are updated regularly and can range from 0.5% to 12% per annum.
- Deposit cryptocurrency: Once a user has selected their earning option and interest rate, they can deposit their cryptocurrency into the CoinDCX Earn wallet.
- Start earning interest: Once the cryptocurrency is deposited, the user will start earning interest on their holdings. The interest is credited to the user’s account on a daily or monthly basis, depending on the earning option selected.
- Withdraw cryptocurrency: When the user wants to withdraw their cryptocurrency, they can do so by initiating a withdrawal request. For the Flexible option, the cryptocurrency is usually credited to the user’s account within a few hours. For the Locked option, the cryptocurrency is credited to the user’s account at the end of the fixed term.
How To Use And Buy CoinDCX
How To Buy CoinDCX?
To buy cryptocurrencies on CoinDCX, you need to follow these steps:
- Create an account: The first step is to create an account on the CoinDCX website. You can sign up using your email ID or mobile number and complete the verification process.
- Add funds to your account: Once your account is verified, you need to add funds to your account using one of the supported payment methods. CoinDCX supports bank transfers, credit cards, debit cards, and UPI payments.
- Choose the cryptocurrency to buy: After adding funds to your account, you can select the cryptocurrency you want to buy from the list of available options on the CoinDCX website.
- Place an order: Once you have selected the cryptocurrency, you need to place an order to buy it. You can either place a market order or a limit order, depending on your preference.
- Complete the transaction: After placing the order, you need to confirm the transaction and complete the payment using the funds in your account. The cryptocurrency will be credited to your CoinDCX wallet once the transaction is complete.
How To Use CoinDCX?
CoinDCX is a cryptocurrency exchange platform that allows users to buy, sell, and trade various digital assets. To use CoinDCX, follow these steps:
- Create an account: To create an account on CoinDCX, go to their website (www.coindcx.com) and click on the “Sign Up” button. Enter your email address, create a password, and complete the captcha. You will receive a verification link in your email, click on it to complete the account registration process.
- Complete KYC Verification: Once you have registered an account, you will need to complete the KYC (Know Your Customer) verification process. This involves submitting a government-issued ID proof such as PAN Card, Aadhar Card, or Passport, as well as a selfie. You can initiate the KYC process from the “Profile” section of your account.
- Add funds: After completing KYC, you can add funds to your CoinDCX account by clicking on the “Deposit” button. You can deposit funds via a bank transfer or using a supported cryptocurrency.
- Buy/Sell cryptocurrencies: Once you have funds in your CoinDCX account, you can start trading. Click on the “Trade” tab to buy or sell cryptocurrencies. Choose the cryptocurrency you want to trade, and then enter the amount you wish to buy or sell.
- Withdraw funds: To withdraw funds from CoinDCX, click on the “Withdraw” button and enter the amount you want to withdraw and the destination address. You can withdraw funds in either cryptocurrencies or Indian rupees (INR).
- Security: It’s important to keep your CoinDCX account secure. Enable two-factor authentication (2FA) for additional security. Also, keep your account information, such as password and recovery phrase, secure, and do not share them with anyone.
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