With the massive introduction of the crypto space in India mostly after the revoking of the Banking ban imposed by the RBI back in 2018, the Indian mass was looking for understanding what crypto is and how to dive in. Taking the market scenario in mind, CoinDCX, India’s most valuable crypto investment app was launched. The brand, since its inception, has been dedicated to making crypto accessible in a simple way. Through the years, CoinDCX has solved numerous problems faced by the Indian crypto community with solutions around crypto investing, crypto trading & crypto literacy.
Now that the crypto ecosystem has been a subject of interest by the institutions and the Indian Government, there have been a lot of procedures that are being set. A huge part of it is the different modes of fees that users have to pay. CoinDCX, being the consumer first brand, has worked around offering a very transparent fee structure, making it a favorite among traders. To understand the different forms of CoinDCX fees you might face, here is a quick rundown of them.
Deposits of INR into your CoinDCX wallet can be done viaIMPS or NEFT / RTGS by using the Bank Transfer option. CoinDCX, as an exchange, does not charge any deposit fees on INR deposits. However, it is mandatory for users to complete their KYC and BAV in order to avail INR deposit or withdrawal facilities.
Please note: Minimum deposit amount at CoinDCX is INR 500.
Read more on: How to deposit funds on CoinDCX
The trading fees on both buying and selling of cryptos on the CoinDCX Liquidity Services Desk is 0.1% of the total transaction amount. This means the more the amount traded, the trading fees will be higher as well.
For more details, please click here.
As a step towards making the trading fee structure better, CoinDCX has introduced a Dynamic Fee Structure! The structure introduces a fee method where an individual’s transaction fee will depend on their previous 30-day INR transaction volume.
This step to introduce a new structure is to further strengthen CoinDCX’s promised efforts in providing its users with the safest and simplest crypto trading experience.
To simply explain the Dynamic Fee Structure, the higher the trading volume, the lower will be the trading fees. This new feature has a tiered structure set in place for easier understanding.
For example, if the total INR trading volume from 2nd to 31 August 2022, i.e. for 30 days, is INR 7,00,000, then the transaction fees applicable for the same on 1 September, 2022, will be 0.4%, i.e., Level 2 of the Dynamic Fee Structure
For more information please click here
CoinDCX as an exchange does not charge any withdrawal fees for withdrawing INR amounts. However, a withdrawal fee of 0.0005 BTC per BTC-withdrawal is deducted by the exchange. For a better understanding, please refer to the image below.
Related Product Features: Systematic Investing in Crypto, Crypto SIPs by CoinDCX
Owing to the rising popularity of the crypto space, during the Budget 2022 session, the Hon’ble Finance Minister Mrs. Nirmala Sitharaman announced revolutionary changes to the virtual asset class. Taking into consideration the magnitude and frequency of these transactions, the government has proposed the following specific crypto tax regime for the industry:
In compliance with the guidelines, CoinDCX has made it mandatory for users to complete their KYC before they are able to conduct any form of transaction.
The following table summarises the applicability of TDS on various order types:
|Insta Spot Buy – No TDS is applicable (App)
Quickbuy Insta Buy – No TDS is applicable (Web)
|Insta Spot Sell – 1% TDS is applicable (App)
Quickbuy Insta Sell – 1% TDS is applicable (Web)
|Spot Buy – INR pairs – No TDS|
|Spot Sell – INR pairs – 1% TDS is applicable|
|Spot Buy – Non-INR pairs (C2C) – 1% TDS|
|Spot Sell – Non-INR pairs (C2C) – 1% TDS|
|Margin Long – 1% TDS on total value of position for both opening and closing orders|
|Margin Short – 1% TDS on total value of position for both opening and closing orders|
|Lend/Earn – No TDS is applicable|
|Futures – No TDS is applicable|
Additional Read: What is 1% TDS on CoinDCX Pro App?
To simplify your understanding of when a TDS will be deducted while you are using the CoinDCX app, here’s a list.
|Limit Buy||No TDS|
|Limit Sell||1% TDS|
|CIP||No TDS (as it’s a buy transaction)|
Additional Read: What is 1% TDS on CoinDCX app?
No, CoinDCX does not charge for deposits.
There are no withdrawal fees in CoinDCX for INR withdrawals. However, a small amount of tokens are deducted at withdrawals. For example, a withdrawal fee of 0.0005 BTC per BTC-withdrawal is deducted by the exchange.
Yes. The minimum amount that can be withdrawn is INR 100.
No. All charges applied on CoinDCX are communicated with our users.
CoinDCX charges trading fees on both buying and selling of cryptos on the CoinDCX Liquidity Services Desk is 0.1% of the total transaction amount.