CoinSwitch is India’s biggest crypto app by users and has never been hacked; WazirX is back after the country’s largest exchange hack, with the cheapest plan for heavy traders. Here is how they compare.
CoinSwitch is the safer, simpler choice for most people who buy and hold in rupees. WazirX suits frequent traders who will use its ₹99 a month zero-fee plan and who want to withdraw coins, if they accept its 2024 history.
| CoinSwitch | WazirX | |
|---|---|---|
| Our score | 8.1/10 (#3) | 7.0/10 (#10) |
| Best for | Beginners and INR-only investors | High-frequency INR traders who want flat fees |
| Founded / HQ | 2017 · Bengaluru | 2018 · Mumbai (now run by Zettai Pte Ltd, Singapore) |
| FIU-IND registered | Yes, registered with FIU-IND; ISO 27001 certified; no FIU penalty found | Yes, registered with FIU-IND; no FIU penalty found |
| INR deposits | UPI, IMPS/NEFT bank transfer | UPI, IMPS/NEFT bank transfer |
| Spot trading fee | Tiered, roughly 0.04% to 0.40% on spot depending on volume (check the live fee page) + GST | WazirX ZERO: ₹99/month + GST for zero-fee trading; otherwise 0.10% to 0.40% on INR markets. USDT markets currently 0%. |
| Futures | Yes, INR-margined futures and INR options | Yes, INR-settled perpetual futures on BTC and ETH (since May 2026), up to 10x, 0.02% maker / 0.04% taker |
| SIP / recurring | Yes, monthly SIP from ₹100 | Not confirmed |
| Coins listed | 250+ | 300+ |
| Crypto withdrawals | Not allowed; you can only sell to INR | Allowed to external wallets; per-coin network fee |
| 1% TDS deducted | Yes, automatically; tax reports in the app | Yes, automatically; free Taxlyst tax reports |
| Security record | No hack of its own found. Publishes proof of reserves (₹2,360 crore reserves vs ₹1,747 crore customer holdings on 31 Mar 2026). | July 2024: about $235M stolen from a multisig wallet (attributed to North Korea's Lazarus Group). Withdrawals frozen for ~15 months; users got ~85% back under a court-approved scheme plus recovery tokens. Custody now with BitGo and Fireblocks. |
CoinSwitch has no hack of its own on record, and its March 2026 proof of reserves showed about ₹2,360 crore in reserves against ₹1,747 crore of customer holdings. WazirX lost about $235 million in July 2024; users waited around 15 months and got back about 85% of their balances plus recovery tokens under a Singapore court-approved scheme. CoinSwitch later set aside ₹600 crore to help WazirX victims.
WazirX ZERO costs ₹99 a month plus GST for zero per-trade fees; without it, INR fees are 0.10% to 0.40%. CoinSwitch tiers spot fees roughly from 0.04% to 0.40% by volume, plus GST. If you trade more than about ₹25,000 a month, the WazirX plan usually works out cheaper.
WazirX lets you withdraw coins to your own wallet. CoinSwitch does not: you can only sell to INR and withdraw rupees.
Read the full reviews: CoinSwitch review · WazirX review · see where both rank in the best crypto app in India list.
For most rupee investors, CoinSwitch, because of its clean security record and published reserves. WazirX is cheaper for very frequent traders with its ₹99 monthly plan and allows crypto withdrawals.
WazirX is FIU-registered and trading again since October 2025, with custody moved to BitGo and Fireblocks. Its users lost about 15% in the 2024 hack, so keep only your trading balance there.
WazirX allows crypto withdrawals to external wallets. CoinSwitch does not; you can only sell to INR.
