KoinBX Trading Fee Calculator
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KoinBX fee: Flat 0.25% for both maker and taker orders.
Binance India: 0.10% maker / 0.15% taker fee.
WazirX: 0.20% taker, 0% maker fee.
How Fees Compare
Based on the article, KoinBX offers a transparent flat fee structure with no volume tiers, while competitors like Binance India offer lower fees for higher-volume traders and WazirX offers maker fee discounts.
However, KoinBX's fee is consistent regardless of trading volume or strategy, which may benefit smaller traders.
If you live in India and want to trade crypto without juggling multiple fiat gateways, you’ve probably seen KoinBX pop up in ads or forum threads. But does the platform live up to its hype, or are there hidden pitfalls? This review breaks down everything you need to know - from licensing and fees to security and real‑world user experience - so you can decide if KoinBX belongs in your trading toolkit.
What Is KoinBX?
KoinBX is a cryptocurrency exchange launched in 2020 that focuses exclusively on Indian Rupee (INR) pairs. The platform markets itself as “India’s most trusted and fastest growing crypto exchange,” claiming over 1.5million users and a flat 0.25% trading fee for both makers and takers.
Regulatory Landscape - Is KoinBX Legit?
India’s crypto rules have been in flux since the government introduced the Financial Intelligence Unit of India (FIU‑IND) requirement in 2023. All exchanges must register with FIU‑IND under the Prevention of Money‑Laundering Act (PMLA). KoinBX states that it completed this registration in August2024, a move that gives it a leg up on unregistered global competitors.
However, third‑party analysts differ. FxVerify notes that KoinBX “does not appear to be regulated by any government authority,” while The Economic Times confirms the FIU‑IND filing. The contradiction reflects the broader ambiguity in India’s crypto policy - a risk factor you should keep in mind.
Trading Pairs, Fees, and Liquidity
KoinBX supports more than 120 digital assets, including the big‑three: Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Every pair is quoted against INR, which eliminates the need for a separate fiat conversion step.
The fee schedule is simple: a flat 0.25% for both maker and taker orders, regardless of volume. When you compare this to global giants that tier fees down to 0.10% for high‑volume traders, KoinBX sits in the middle of the pack - not the cheapest, but transparent.
Liquidity is decent for INR‑centric pairs, with an average spread of 0.2% on top‑tier assets. Smaller altcoins can see wider spreads, a common issue for exchanges that don’t tap into global order books.
Security Measures - What’s Missing?
Security is where the review gets mixed. KoinBX advertises standard SSL encryption and a KYC process that complies with AML rules, but it does not publicly detail two‑factor authentication (2FA) options, cold‑storage ratios, or a SAFU (Secure Asset Fund for Users) reserve that many larger platforms maintain.
Independent reviews from TrustFinance give the exchange a 4.48 TrustScore based on 121 user ratings, citing “reliability” and a “user‑friendly interface.” In contrast, Traders Union rates KoinBX a dismal 2.1/10 overall, flagging security opacity and client dissatisfaction as red flags.
Bottom line: if you’re comfortable with basic password protection and a solid KYC flow, KoinBX may be acceptable. If you demand industry‑standard cold‑storage guarantees or an explicit insurance fund, you’ll likely look elsewhere.
User Experience - Onboarding, Interface, Support
The platform’s web UI is clean, with a dashboard that displays real‑time order books, recent trades, and basic charting tools. Mobile apps for Android and iOS mirror the web experience and support instant INR deposits via UPI, IMPS, or NEFT.
KYC typically wraps up in 5‑10minutes once you upload a PAN card and selfie. Users praise the speed of INR withdrawals, which often settle within the same business day.
Customer support operates 24/7 in English, Hindi, and several regional languages - a distinct advantage over many global exchanges that only offer English support. Response times average under 30minutes on live chat, according to community feedback.
Pros and Cons at a Glance
- Pros
- FIU‑IND registration provides a domestic compliance edge.
- Flat 0.25% fee is simple and transparent.
- Full suite of INR deposit/withdrawal methods, including UPI.
- 24/7 multilingual support.
- Cons
- Security details (2FA, cold storage, SAFU) are vague.
- Limited to INR fiat - no USD, EUR, or other global currencies.
- User‑base claims are not independently verified.
- Mixed expert ratings - risk of regulatory shifts.
How KoinBX Stacks Up Against Other Indian Exchanges
| Exchange | Fiat Support | Trading Fee | FIU‑IND Registration | Security Highlights |
|---|---|---|---|---|
| KoinBX | INR only | 0.25% flat | Registered (Aug2024) | SSL, KYC, no public 2FA/SAFU info |
| Binance India | INR, USD, EUR | 0.10% maker / 0.15% taker | Operating under global licence, pending India‑specific registration | Cold storage, SAFU fund, 2FA, device management |
| WazirX | INR, USDT | 0.20% taker, 0% maker | FIU‑IND compliant (2023) | 2FA, insurance fund for custodial assets |
Who Should Consider KoinBX?
‑ Indian residents who need a straightforward way to move INR in and out of crypto without foreign‑exchange hassles.
‑ Beginners who value a simple fee structure and local language support.
‑ Traders focused on BTC, ETH, or major altcoins and who don’t require advanced order types or cross‑border fiat.
Avoid KoinBX if you are an international user needing USD/EUR trading pairs, or if you demand the highest security certifications and insurance coverage for large balances.
Final Verdict
KoinBX occupies a niche that few global platforms can match: a domestically regulated exchange that speaks Indian languages and moves INR instantly. Its flat 0.25% fee and clean UI win points for ease of use. Yet the lack of transparent security protocols and the mixed expert scores raise legitimate concerns. Treat KoinBX as a convenient gateway for modest INR‑centric trades, but keep larger holdings on a platform with proven cold‑storage and insurance mechanisms.
Frequently Asked Questions
Is KoinBX registered with the Indian regulators?
Yes. KoinBX filed its registration with the Financial Intelligence Unit of India (FIU‑IND) in August2024, meeting the mandatory PMLA requirements for crypto exchanges operating in India.
What fiat currencies can I deposit on KoinBX?
Only Indian Rupee (INR) is supported. Deposits can be made via UPI, IMPS, NEFT, or bank transfer.
Does KoinBX offer two‑factor authentication?
The platform mentions standard password protection and email verification, but it does not publicly detail a 2FA option. Users can request it through support, though implementation may vary.
How fast are INR withdrawals?
Most withdrawals settle within the same business day, often within a few hours, especially when using UPI.
Is there a SAFU fund protecting my assets?
KoinBX does not advertise a SAFU or similar insurance fund. Users should assume standard risk and consider holding large balances on exchanges that provide explicit insurance.
Schuyler Whetstone
October 17, 2025 AT 09:20KoinBX’s so‑called “security” is just a marketing gimmick, don’t waste ur money.
Laura Hoch
October 17, 2025 AT 23:13The FIU‑IND registration does give KoinBX a veneer of legitimacy, but the Indian regulatory fog means that today’s compliance could be tomorrow’s liability. It’s worth noting that the flat 0.25% fee, while transparent, sits above the tiered rates you see on global platforms when you scale up your volume. From a user‑experience standpoint the instant INR withdrawals are a real boon, especially for newcomers who can’t wrestle with crypto‑to‑fiat conversions elsewhere. Still, the lack of publicly disclosed cold‑storage ratios should give any risk‑averse trader pause before piling large balances on the exchange.
Kaitlyn Zimmerman
October 18, 2025 AT 13:06KoinBX’s focus on INR‑only pairs cuts out a lot of the hassle you get with multi‑currency bridges its a big win for anyone dealing mostly in rupees it also means the order books are more localized so you get faster fills on the big coins
but the smaller alts can suffer from thin liquidity which can widen spreads at odd hours
Sara Stewart
October 19, 2025 AT 03:00From a jargon‑heavy perspective, the platform’s flat fee model simplifies P&L calculations – you don’t have to juggle maker vs taker tiers or volume‑based discounts. Liquidity on BTC/INR and ETH/INR is respectable, with average spreads hovering around 0.2%, which is decent for a domestic‑only exchange. The UI is clean and the mobile apps mirror the web experience, which is great for on‑the‑go traders. However, their security architecture is opaque: no explicit 2FA, cold‑storage percentages, or SAFU fund disclosures, which keeps the risk profile higher than that of Binance or WazirX.
Devi Jaga
October 19, 2025 AT 16:53Oh sure, “registered with FIU‑IND” sounds impressive until you realize that many Indian exchanges claim the same badge while keeping their security playbook hidden under a rug. The fact that they won’t brag about 2FA or cold storage is a red flag, not a marketing quirk. If you enjoy living on the edge, go ahead, but most of us prefer a transparent insurance fund over vague promises.
Hailey M.
October 20, 2025 AT 06:46Wow, KoinBX really thinks a "simple KYC" is enough 🔥. Meanwhile, the real pros are out there with multi‑sig wallets and SAFU funds. If you’re happy with just a password and hope for the best, this might be your cup of chai ☕️. But don’t be shocked when a breach hits and you wish you’d chosen a platform that actually talks about cold storage.
DeAnna Brown
October 20, 2025 AT 20:40Patriotic traders, listen up! KoinBX gives us a home‑grown alternative to the foreign giants, letting us keep every rupee in Indian hands. No more worrying about foreign exchange throttles or colonial fee structures. Sure, the security details aren’t as polished as Binance, but the sheer fact that it’s an Indian‑registered exchange makes it a win for our economy.
Ikenna Okonkwo
October 21, 2025 AT 10:33Optimistically speaking, the instant UPI deposits and withdrawals are a game‑changer for daily traders. It reduces the friction that typically discourages newcomers from entering the crypto space. While the security specs could be clearer, the platform’s user‑friendly onboarding-5‑10 minute KYC-makes the barrier to entry low. Combine that with 24/7 multilingual support, and you’ve got a solid starter exchange for the Indian market.
Jessica Cadis
October 22, 2025 AT 00:26When you stack KoinBX against Binance India and WazirX, the biggest differentiator is the pure INR focus. Binance offers a broader fiat basket but still wrestles with regulatory gray zones, while WazirX sits somewhere in the middle with its own insurance fund. KoinBX’s flat fee is easier to understand, yet the lack of a global order‑book connection can hurt depth on less‑traded pairs.
Carolyn Pritchett
October 22, 2025 AT 14:20Another platform that hides its security playbook behind vague statements-classic toxic analyst move: praise the UI, ignore the fact that there’s no public 2FA or SAFU. The user‑ratings are all over the place, from a 4.48 TrustScore to a pitiful 2.1/10. If you’re not comfortable with “maybe they have cold storage,” steer clear.
Jason Zila
October 23, 2025 AT 04:13Analyzing the fee structure, the 0.25% flat rate is simple but may penalize high‑volume traders who could secure sub‑0.1% rates elsewhere. Liquidity on the core BTC and ETH pairs seems adequate, but the spread on low‑cap alts can be problematic during off‑peak hours. The platform’s real advantage is the seamless INR gateway, which eliminates conversion fees you’d face on overseas exchanges.
Cecilia Cecilia
October 23, 2025 AT 18:06KoinBX offers a domestically regulated environment with instant INR deposits, a flat fee model, and multilingual support; however, it lacks transparent security details such as 2FA, cold‑storage percentages, and an insurance fund, which may deter larger investors.
lida norman
October 24, 2025 AT 08:00Honestly, the speed of INR withdrawals is a lifesaver for day traders 😊. The UI feels clean, and the support team actually replies fast. Just wish they’d shout louder about 2FA or a SAFU fund, because that would make me feel way more secure.
Miguel Terán
October 24, 2025 AT 21:53Let’s dive deep into the ecosystem that KoinBX inhabits and dissect why its positioning matters for the Indian crypto diaspora. First, the regulatory backdrop: the FIU‑IND registration in August 2024 places KoinBX under the ambit of the Prevention of Money‑Laundering Act, which, while not a full‑scale licence, does provide a baseline compliance shield that many offshore exchanges lack. This compliance, however, is only as strong as the transparency it is paired with-unlike Binance, which publishes its cold‑storage ratios and SAFU fund details, KoinBX remains eerily silent on these critical security metrics. The omission isn’t merely a marketing oversight; it signals a potential vulnerability for users holding substantial balances, especially given that traders often store assets on‑exchange for convenience. On the fee front, the flat 0.25% rate is commendably simple, eliminating the need for tiered calculations, but it also means high‑volume traders pay more than they would on platforms with sub‑0.1% maker rates, effectively capping the exchange’s appeal to professional market makers. Liquidity, a cornerstone of any exchange’s utility, shows a mixed picture: while BTC/INR and ETH/INR pairs exhibit tight spreads averaging 0.2%, the depth dries up sharply for lower‑cap altcoins, leading to slippage that can erode profits on rapid trades. The UI, both web and mobile, is designed with a minimalist ethos-real‑time order books, basic charting, and an intuitive onboarding flow that wraps KYC in 5‑10 minutes. This user‑centric design lowers the entry barrier, particularly for newcomers wary of cumbersome verification processes. Moreover, the integration of UPI, IMPS, and NEFT for deposits and withdrawals creates a frictionless fiat bridge; funds often settle within a few hours, a stark contrast to the days‑long holds many global exchanges impose. Customer support, operating 24/7 in multiple Indian languages, adds a localized touch that many global competitors overlook, fostering trust among non‑English‑speaking users. Yet, the platform’s cons cannot be ignored: the absence of an explicit two‑factor authentication (2FA) rollout, unclear cold‑storage practices, and no public SAFU fund dramatically raise the risk profile. For institutional investors or retail users with sizable holdings, these gaps are deal‑breakers. Finally, when juxtaposed with Binance India and WazirX, KoinBX’s niche shines in its pure INR focus but also limits its scalability-traders seeking cross‑border fiat pairs or diversified asset options may gravitate toward the broader ecosystems. In sum, KoinBX serves as a convenient gateway for small to medium‑sized INR‑centric trades, but it should be approached with caution for larger capital allocations due to its opaque security architecture.
Shivani Chauhan
October 25, 2025 AT 11:46While the comprehensive analysis highlights many strengths, the lack of disclosed 2FA and cold‑storage details remains a critical omission that cannot be overlooked when considering significant capital exposure.