Economy
Detailed CoinSwitch Kuber Review 2023 Revealed By Traders Union
CoinSwitch Kuber, a Bangalore-based cryptocurrency exchange, boasts over 7.5 million users since its 2017 launch. Acting as a bridge between traders and international exchanges like Coinbase and Tiger Global, it offers competitive rates on over 100 cryptocurrencies.
Traders Union’s full-on 2023 CoinSwitch Kuber review suggests that instant order execution is a standout feature. After raising $25 million in Series B funding in April 2021, the company shows promising future growth and development.
CoinSwitch Kuber: Pros and cons
Traders Union offers an unbiased examination of CoinSwitch Kuber, exploring both its strengths and potential areas for improvement.
Pros:
- Low minimum deposit of around $2, making it accessible to all traders.
- Handy mobile application that connects to the liquidity of major global exchanges.
- A broad selection of trading instruments.
- Limited-time offer to trade cryptocurrencies without exchange transaction fees.
- No deposit and withdrawal fees for both fiat money and cryptocurrencies.
- Straightforward process for earning referral fees.
- Resourceful blogs that provide cryptocurrency reviews and updates on financial markets.
Cons:
- Lack of leverage trading option.
- No investment solutions are offered, and trading is solely dependent on personal capital.
- Limited to INR for fiat currency transactions.
- Absence of card-based deposit or withdrawal mechanisms.
Expert review of CoinSwitch Kuber
TU experts have carefully reviewed the CoinSwitch Kuber cryptocurrency exchange, which has been in operation since 2017. Here are the key insights:
- The exchange stands out by acting as an intermediary, connecting traders to multiple exchanges, including partners such as Coinbase and Tiger Global, to ensure the best exchange rates and instant order execution.
- Users can place market, instant, and limited orders with durations of 24 hours, 7 days, or 90 days.
- Trading is exclusively facilitated via mobile applications as there is no web platform.
- It caters to all levels of trading expertise, from beginners to seasoned traders.
- Security is maintained through a four-digit login PIN.
- The company has a strong online presence across multiple platforms including Telegram, Facebook, Twitter, Instagram, and LinkedIn, and is profiled on Bloomberg.
- As of the time of review, it does not accept card deposits or deposits of DOGE, ZIL, THETA, and NEO.
- Temporary suspensions of cryptocurrency withdrawals and fiat deposits have been noted, although new trading instruments, like Shiba Inu tokens, are being added regularly.
CoinSwitch Kuber’s affiliate program
TU analysts have examined the CoinSwitch Kuber’s affiliate program and present the following highlights:
- The program allows users to earn referral rewards by inviting friends to trade on the platform.
- Affiliates earn a percentage of the trading fees generated by the referred users.
- Payouts are typically made in Bitcoin and can be withdrawn at any time.
- There’s no limit to the number of referrals an affiliate can have, allowing for potentially unlimited earnings.
CoinSwitch Kuber compared with other companies
Traders Union presents a comparison of CoinSwitch Kuber with other platforms, highlighting its unique attributes and offerings.
- Bybit: Known for derivatives trading, Bybit offers leverage, unlike CoinSwitch Kuber which excels in direct exchange transactions.
- OKEx: OKEx provides a wider range of services, including futures and spot trading, whereas CoinSwitch Kuber focuses on a cryptocurrency exchange.
- Binance: As a global leader, Binance offers a more extensive coin selection and features like staking, compared to CoinSwitch Kuber’s simplified approach.
- Huobi Global: Huobi boasts a comprehensive suite of trading tools and more global accessibility, while CoinSwitch Kuber caters to a primarily Indian market.
- KuCoin: KuCoin, with its own native token and lending services, contrasts CoinSwitch Kuber’s model which operates as an intermediary between exchanges.
Comparatively, the cex.io broker offers a different set of features that set it apart from CoinSwitch Kuber. As a long-standing platform, CEX.IO offers a comprehensive mix of services, including margin trading and staking, serving a global clientele with robust security protocols and a wider array of supported cryptocurrencies.
Conclusion
In conclusion, CoinSwitch Kuber presents a unique proposition in the cryptocurrency exchange space with its intermediary model and focus on simplicity. It caters well to its target market with competitive offerings. For further insights and detailed broker comparisons, please visit the Traders Union website for your trading needs and queries.
By Adedapo Adesanya
The duo of Geo-Fluids Plc and Afriland Properties Plc propelled the NASD Over-the-Counter (OTC) Securities Exchange up 0.13 per cent on Friday, January 10.
Investors gained N1.4 billion during the trading session after the market capitalisation of the bourse ended at N1.053 trillion compared with the previous day’s N1.052 trillion, and the NASD Unlisted Security Index (NSI) increased at the close of business by 4.07 points to wrap the session at 3,073.93 points compared with 3,069.86 points recorded at the previous session.
Geo-Fluids added 25 Kobo to its value to close at N4.85 per unit compared with the previous session’s N4.60 per unit, and Afriland Properties Plc gained 24 Kobo to close at N16.25 per share versus Thursday’s closing price of N16.01 per share.
There was a 35.4 per cent fall in the volume of securities traded in the session as investors exchanged 4.3 million units compared to 6.6 million units traded in the preceding session, the value of shares traded yesterday went down by 37.4 per cent to N17.2 million from the N27.5 million recorded a day earlier, and the number of deals decreased by 47.2 per cent to 19 deals from the 36 deals recorded in the preceding day.
FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 1.9 million units worth N74.2 million, followed by 11 Plc with 12,963 units valued at N3.2 million, and Industrial and General Insurance (IGI )Plc with 10.7 million units sold for N2.1 million.
IGI Plc closed the day as the most active stock by volume (year-to-date) with 10.6 million units sold for N2.1 million, trailed by FrieslandCampina Wamco Nigeria Plc with 1.9 million units valued at N74.2 million, and Acorn Petroleum Plc with 1.2 million units worth N1.9 million.
By Adedapo Adesanya
The Naira witnessed a depreciation on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, January 10.
According to data from the FMDQ Exchange, the local currency weakened against the greenback yesterday by 0.12 per cent or N1.80 to sell for N1,543.03/$1 compared with the preceding day’s N1,541.23/$1.
The pressure on the domestic currency came as the access granted to the Bureaux de Change (BDC) operators by the Central Bank of Nigeria (CBN) to purchase FX from the official market through the Electronic Foreign Exchange Matching System (EFEMS) platform prepares to end next week, precisely on January 19.
The CBN had given a 42-day window to the operators to access the platform to help stabilise the Naira in December, and this expires next week.
On Friday, the Nigerian currency tumbled against the Pound Sterling in the official market by N30.78 to sell for N1,889.29/£1 compared with the previous day’s N1,858.51/£1, but gained N5.48 against the Euro to finish at N1,583.81/€1, in contrast to Thursday’s rate of N1,589.29/€1.
As for the parallel market, the Nigerian Naira remained stable against the US Dollar during the trading session at N1,650/$1, according to data obtained by Business Post.
In the cryptocurrency market, it was bearish as the US economy added 256,000 jobs last month, the Bureau of Labor Statistics reported on Friday, topping forecasts for 160,000 and up from 212,000 in November (revised from an originally reported 227,000).
However, the readings came after a number of recent economic reports triggered a broad-market pullback across asset classes such as crypto as investors quickly scaled back the idea of a continued series of Federal Reserve rate cuts in 2025.
Cardano (ADA) fell by 3.6 per cent to trade at $0.921, Solana (SOL) slumped by 2.8 per cent to $185.93, Ethereum (ETH) depreciated by 1.4 per cent to $3,233.27, Litecoin (LTC) lost 1.3 per cent to finish at $103.62, Dogecoin (DOGE) shed 0.5 per cent to sell at $0.3315, Bitcoin (BTC), waned by 0.2 per cent to $94,154.43, and Binance Coin (BNB) went south by 0.1 per cent to $693.30.
On the flip side, Ripple (XRP) jumped by 1.5 per cent to settle at $2.34, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 each.
By Dipo Olowookere
Profit-takers took control of Customs Street on Friday, plunging it by 0.08 per cent at the close of trading activities.
The sell-offs were across all the key sectors of the Nigerian Exchange (NGX) Limited on last trading session of the week.
The insurance space went down by 1.53 per cent, the banking index depreciated by 0.41 per cent, the consumer goods sector weakened by 0.16 per cent, and the energy counter slumped by 0.08 per cent, while the industrial goods sector closed flat.
At the close of business, the All-Share Index (ASI) tumbled by 79.68 points to 105,451.06 points from 105,530.74 points and the market capitalisation retreated by N48 billion to N64.303 trillion from N64.351 trillion.
Yesterday, investors traded 1.5 billion shares worth N19.4 billion in 12,877 deals compared with the 489.5 million shares worth N13.1 billion transacted in 13,010 deals in the preceding day, indicating a decline in the number of deals by 1.02 deals and a rise in the trading volume and value by 203.14 per cent and 48.09 per cent, respectively.
Wema Bank was the busiest stock with 976.2 million units valued at N9.8 billion, Tantalizers traded 53.0 million units worth 129.6 million, Universal Insurance sold 34.8 million units for N26.8 million, Access Holdings exchanged 33.9 million units valued at N843.8 million, and Nigerian Breweries traded 27.3 million units worth N873.3 million.
The heaviest loss was suffered by Sunu Assurances with a decline of 9.99 per cent to trade at N7.30, Eunisell shed 9.96 per cent to N17.35, SAHCO crumbled by 9.87 per cent to N30.15, DAAR Communications plunged by 9.28 per cent to 88 Kobo, and Sovereign Trust Insurance went down by 7.04 per cent to N1.32.
On the flip side, C&I Leasing gained 10.00 per cent to close at N4.51, Honeywell Flour appreciated by 9.99 per cent to N10.02, Trans Nationwide Express jumped by 9.89 per cent to N2.00, RT Briscoe rose by 9.83 per cent to N2.57, and Secure Electronic Technology grew by 9.46 per cent to 81 Kobo.
Business Post reports that the bourse ended with 33 price gainers and 25 price losers, indicating a positive market breadth index and strong investor sentiment.
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