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Coindelta Review - is it scam or safe?

Coindelta Review - is coindelta.com scam or good cryptocurrency exchange?

RATING: 3 / 0 REVIEWS Coindelta

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts and Conditions

 

Account type Min. Deposit Taker fee Deposit fee Withdrawal fee*
Standard 0.001 BTC /100 INR
0.30%
Up to 2% for fiat / 0.0002 BTC 0.001 BTC

 

* For fiat withdrawals - Flat fee Rs. 20 (NEFT) or 1.18% of the amount (IMPS).

 

Coindelta is an Indian cryptocurrency exchange that offers trading in some of the most popular cryptocurrencies against the local currency (INR). Coin-to-coin trading is also available.

 

 

Coindelta Advantages

 

INR accepted

Coindelta obviously focuses on trading in digital coins against the local fiat currency – Indian Rupees (INR). Hence, this exchange is quite attractive for local investors, especially beginners, as they can directly deposit and withdraw INR to and from a bank account linked to their Coindelta account.

 

Convenient fiat deposits

Furthermore, Coindelta supports most major INR deposit features, such as Unified Payments Interface (a.k.a. UPI - free and instant), National Electronic Funds Transfer (NEFT), and Immediate Payment Service (IMPS).

 

Over 20 coins listed. Coin-to-coin trading

Another thing we like about this exchange is its rich product portfolio. Its clients are able to trade in the most popular cryptocurrencies, such as Bitcoin, Ripple, Ethereum, Bitcoin Cash, Neo, as well as more exotic ones (Mana, ENG, ICX, and others).

 

While Coindelta focuses on trading against INR, it also has markets with Bitcoin as a base currency.

 

Advanced platform

Like most exchanges, trading at Coindelta is done directly on its website. Their platform is really nice, easy to use and yet equipped with advanced features, such as the charting, provided by TradingView. There is also news feed and a troll box. Here is a preview:

 

 

Click on the image to zoom in.

 

Clear presentation of the charges, zero fees for market makers

Not all crypto exchanges share all their fees in detail, however you can find information on all trading costs at Coindelta in their Help center. While the fees at this exchange are not low in general, they do not charge users who place their own bids in the order book (a.k.a. the market makers).

 

Some info about the company

Coindelta provides some background on the actual legal entity behind them and the team. It was founded by Rajdeep Singh and the entity is called Bitfair Technologies Private Limited. As India does not currently have regulations on cryptocurrency trading, this is the best they can do. Actually, not all similar venues provide similar corporate information and background.

 

 

Coindelta Disadvantages

 

Only suitable for Indians

This is not surprising, as Coindelta is an Indian exchange which targets local traders. It will hardly be of ineterest for any foreigners, and besides, the registration at Coindelta requires Aadhar and PAN details for verification purposes.

High taker, deposit and withdrawal fees

While the fees charged at this exchange are clearly announced, they are actually a bit high. Market takers at Coindelta have to pay 0.3% per trade, which is above the average in the industry.

 

Besides, both deposits and withdrawals to and from the exchange incur fees, while many similar venues charge only withdrawals.

 

No leverage available

Like most exchanges, Coindelta does not provide any leverage. Traders who are more interested in speculating on the prices, rather than owning the coins, can also register with a forex broker. Some of them offer trading in CFDs with cryptocurrencies as an underlying asset on margin.

 

 

>> Margin BTC trading with forex brokers <<

 

 

No anonymous trading

Usually, exchanges allow unverified users to trade coin to coin and up to a certain limit, but this is not the case with Coindelta. You will not be able to do any kind of transaction on this exchange without ID and Bank Account verification.

 

No Credit cards accepted

Coindelta does not accept deposits with credit cards, which is fairly common among the Indian cryptocurrency exchanges. Yet this can be inconvenient for some clients, as card payments are usually much faster than the ones with bank transfers.

 

 

>> Crypto exchanges accepting credit cards <<

 

 

No mobile app

Those who prefer to trade on the go will be disappointed, as Coindelta has not deeloped a mobile trading app.

 

Conclusion

 

Coindelta is an Indian crypto exchange with a focus on the local market. As all similar venues, it has both its advantages and disadvantages, whioch we covered in the present review.

 

For the time being trading in India is not regulated and is not illegal either. There has been a rumor that the government is planning shutting down the exchanges, like they did in China, but obviously this is not going to happen for the time being. We are about to see whether and when the authorities in India are going to introduce some regulations for crypto exchanges.

 

In case you’d rather trade cryptocurrencies with a regulated entity, we remind you that you can also do that with forex brokers, some of which are duly regulated in the countries of their operation.

 


>> A list of licensed bitcoin forex brokers <<

 

Here is our summary on the review:

 

Pros Cons
Fiat currency supported (INR) Only suitable for Indians
Convenient fiat deposits High taker, deposit and withdrawal fees
Over 20 coins listed. Coin-to-coin trading No leverage
Advanced trading platform No anonymous trading
Clear presentation of the charges No mobile app
Some info about the company Credit cards not accepted

 

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Traders` reviews for Coindelta

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Slippage

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Price feed

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