CoinSwitch (formerly CoinSwitch Kuber) is India's largest crypto investment app by registered users, claiming over 20 million users across India. FIU-IND registered and backed by Sequoia Capital India, CoinSwitch focuses on making crypto investing accessible to mainstream Indian investors through a mobile-first interface, INR UPI integration, portfolio tracking, and educational content designed for first-time crypto investors.
About CoinSwitch
Originally launched as CoinSwitch in 2017 as a crypto aggregator, the platform rebranded as CoinSwitch Kuber in 2020 to launch a direct India-focused exchange product with INR trading. The app grew explosively during the 2021 bull market, onboarding tens of millions of first-time Indian crypto investors. Backed by Sequoia Capital India, Tiger Global, and other institutional investors, CoinSwitch received unicorn status in 2021. The platform rebranded back to CoinSwitch in 2023 and expanded into broader investment products.
Key Facts
| Item | Details |
|---|---|
| Founded | 2017 |
| HQ | Bengaluru, India |
| Regulation | FIU-IND registered |
| Users | 20 million+ |
| Listed Coins | 100+ |
| Fiat | INR (UPI) |
| Backed by | Sequoia, Tiger Global |
Key Features
20M+ User Base
CoinSwitch's 20 million+ registered users make it India's most widely-used crypto platform by account count — reflecting its successful mainstream consumer acquisition strategy during the 2021 bull market. This large user base provides liquidity and market depth for INR trading pairs.
UPI Integration
CoinSwitch supports instant INR deposits via UPI, the most widely-used payment system in India. This integration allows any Indian with a bank account and UPI-enabled app to fund their CoinSwitch account instantly.
Portfolio Tracking
The CoinSwitch app includes portfolio tracking and performance analytics, helping users monitor their crypto investments alongside market data and price alerts — a particularly valuable feature for the app's predominantly first-time investor user base.
Fee Structure
| Service | Fee |
|---|---|
| Trading fee | 0.25–0.5% (varies by pair) |
| INR deposit via UPI | Free |
| Crypto withdrawal | Network fee |
Pros & Cons
Pros
- India's largest crypto app by users (20M+)
- FIU-IND registered
- UPI instant deposits
- Beginner-friendly mobile interface
- Strong VC backing (Sequoia, Tiger Global)
Cons
- Higher fees (0.25–0.5%) vs CoinDCX
- Fewer coins than CoinDCX (100+ vs 500+)
- Mobile-first — limited web trading
- India's 30% tax + 1% TDS reduces net returns
Summary
CoinSwitch is India's most popular crypto investment app by user count, offering a beginner-friendly mobile experience with UPI integration that resonates with India's mainstream retail investor base. While its fees are slightly higher than CoinDCX and coin selection smaller, CoinSwitch's intuitive design and massive user base make it the most accessible entry point for first-time Indian crypto investors seeking a regulated domestic platform.