dYdX vs Coinswitch: Fees, Security, Features & Which to Choose (2025)

Trying to choose between dYdX and Coinswitch This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on September 9, 2025

dYdX

Coinswitch

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Available Countries

United States

Europe

Yes

Latin America

Yes

India

Yes

China

Canada

United Kingdom

United States

Yes

Europe

Yes

Latin America

Yes

India

China

Yes

Canada

Yes

United Kingdom

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dYdX is ideal if:

You thrive on decentralized control: If you value true self-custody and want to trade without intermediaries, dYdX delivers that fully trustless experience through its app-chain model.
You demand professional-grade derivatives: Ideal for experienced traders seeking advanced tools (perpetuals, deep liquidity, order books) wrapped in a sleek, CEX-like interface.
You prioritize scalability and speed: Built on its own Cosmos-based Layer 1 chain, dYdX offers lightning-fast execution and high throughput—perfect for active or algorithmic trading.

Coinswitch is ideal if:

Perfect for quick, hassle-free trades — its aggregator model lets you instantly compare and access the best prices across multiple exchanges without managing several accounts.
Great for beginners and casual users — ultra-simple interface, fast KYC, and mobile support make it easy to get started and trade on the go.
Handy for privacy-focused and non-custodial users — you keep control over your assets, with no need to deposit funds into the platform itself.

dYdX isn’t ideal if:

You want a huge crypto selection: If you prefer platforms with hundreds or thousands of assets, dYdX’s limited range (focused on derivatives and select tokens) might feel restrictive.
You’re new to DeFi or prefer full KYC onboarding: If you expect a traditional, identity-verified trading experience, dYdX’s wallet-only, non-custodial flow may seem unfamiliar or cumbersome.
You need fiat deposits or simple spot-only trades: If your strategy relies on using bank transfers or just spot trading with fiat, dYdX’s focus on crypto leverage/perpetuals may not suit your needs.

Coinswitch isn’t ideal if:

You need advanced trading tools — CoinSwitch’s aggregator model doesn't offer structured margin trading, charting, or deep order book functionality.
You expect full transparency on fees — its fees are embedded in the quoted rates, which may feel less clear than openly itemized costs.
You rely on ready access to fiat withdrawals — crypto-to-fiat conversions and bank withdrawals might be slower or less seamless than full-fledged exchange platforms.

Fees & Total Costs

Spot Maker/Take

dYdX employs a tiered maker/taker fee model—starting at around 0.02% for makers and 0.05% for takers for lower trading volumes, and reducing significantly (even resulting in rebates for makers) as your 30-day volume and market share increase; no explicit discount is tied to holding the native token anymore.

CoinSwitch applies a tiered fee model for spot trading where fees decrease as your 30-day trading volume grows—casually higher at entry-level tiers, tapering gradually for higher volumes to reward active traders, without locking you into token-based discounts.

Futures/Derivatives

Perpetual futures follow a similar tiered structure, with maker fees beginning around 0.01% and taker around 0.05%, and both shrinking as volume grows; funding rates are variable and pair-specific, aligning positions’ pricing periodically without fixed values.

On CoinSwitch PRO, perpetual futures contracts include distinct maker and taker costs—maker being lower than taker—and although explicit funding rates aren’t publicly outlined, they operate as standard for perpetual contracts, adjusting with market conditions and applied periodically.

Average Spreads on Liquid Pairs

dYdX operates with tight spreads for highly traded perpetual pairs like BTC/USDT and ETH/USDT thanks to deep liquidity on its order book structure—typically narrower than what’s common on many centralized platforms.

Although specific spread figures aren’t published, CoinSwitch leverages aggregated liquidity from multiple venues, so spreads on major pairs like BTC/USDT or ETH/USDT tend to be competitive, reflecting real-time best market prices sourced from deeper pools.

Fiat Deposits & Withdrawals

Fiat on-ramps are not provided directly—users must bring crypto in via bridges (e.g., Skip Go Fast, IBC or via Coinbase for USDC); there are no platform fees, but third-party or network fees may apply, and processing can range from seconds to a few minutes depending on method.

Fiat transactions are handled via standard banking channels (like transfers or UPI/net banking), offering reliable but somewhat slower processing, with modest cost differences depending on method—fast and instant options are often available but may incur slightly higher charges.

On-chain Withdrawals

Crypto withdrawals incur only network or bridge fees—fees vary dynamically by network (e.g., Ethereum, Cosmos, Solana)—and are not fixed; the platform itself doesn’t add extra charges beyond those required for settlement.

Crypto withdrawals—when accessible—are priced according to network demand, meaning fees adapt dynamically (e.g. BTC, ETH, TRX), rather than being pegged to fixed amounts, helping align closely with actual blockchain conditions.

Hidden Costs

There are essentially no hidden fees—there’s no inactivity charge, no extra cost for expedited KYC (since KYC is minimal), and currency conversions occur only through normal network swaps without opaque surcharges.

Users should stay aware of currency conversion spreads when moving between fiat or crypto pairs, fees tied to prolonged inactivity or expedited KYC processes, and possible deviations embedded in quoted prices that may not appear separately itemized.

Real-World Cost Example: “€500 BTC

For a €500 BTC purchase, your cost comprises a small taker fee (around 0.05%), a tight spread inherent to the order book, and then if you withdraw, only the network fee on the chain—there’s no layered fee structure or hidden markup adding to the total.

Buying approximately 500 EUR worth of BTC would involve the spot fee applied to that amount, plus any spread embedded in the purchase price, and then the chosen method’s withdrawal or network cost; in practical terms that means slightly less than 500 EUR in BTC once all trading and transfer costs are accounted for.

Crypto Offering & Trading Features

Number of Coins & Pairs

dYdX offers over 200 perpetual markets on its Chain, spanning the most traded assets (like BTC-USD, ETH-USD, SOL-USD) as well as emerging tokens; the top 20 by volume include the largest-cap cryptocurrencies and most liquid pairs across derivatives.

CoinSwitch offers access to hundreds of cryptocurrencies—figures vary between 250+ to 650+ depending on the platform tier—and more than 45,000 trading pairs in total, with the top 20 by volume typically including major assets like BTC/USDT, ETH/USDT, SOL, ADA, and BNB on CoinSwitch PRO.

Product Range

dYdX currently offers perpetual derivatives and margin trading, with no spot, options, ETFs, staking/earn, loans, copy trading, grid bots, or automated DCA — though future versions (v4+) are preparing to expand back into spot and other synthetic offerings.

Users can trade spot and perpetual futures (no margin) and now have access to crypto options with flexible expiries; original aggregator features include SIP (automated regular buys), SmartInvest, and advanced API functionality, while products such as ETFs, staking, loans, copy-trading, grid bots, or automated DCA aren’t supported.

Liquidity

The platform maintains strong 24-hour trading volume often exceeding several hundred million dollars, with deep order books for BTC-USD and ETH-USD delivering consistent market depth and low slippage.

While CoinSwitch doesn’t maintain its own order book, it taps into partner exchanges to deliver deep liquidity, especially on BTC and ETH pairs—ensuring solid 24-hour volume and book depth via aggregated sources, even though precise volume figures aren’t publicly disclosed.

Tools

Traders benefit from advanced order options (limit, market, stop-loss/take-profit), real-time charting with native TradingView support, API and WebSocket access for automation, though there’s no built-in alerts panel yet.

The PRO interface includes essential order types like market, limit, and stop-loss (plus OCO in some cases), integrated TradingView charts, real-time alerts, and a robust API/WS setup for both spot and futures—though native TradingView remained limited to charting without full platform integration.

Geographic Restrictions by Product

Product availability varies by region — for example, derivatives may be restricted or disabled in certain jurisdictions like the U.S., while other global areas generally have full access to perpetual trading on dYdX Chain.

Advanced instruments such as futures and the newly launched crypto options are generally limited to Indian users or select jurisdictions; more restrictive regions may only have access to basic spot aggregation services, not derivative products.

Innovation

dYdX’s ‘Launchable’ and MegaVault systems allow community-driven, instant market creation and liquidity pooling, while staking rewards and other incentives are dynamically distributed, without fixed earn or lock-up schemes.

CoinSwitch continues innovating with features like crypto options offering multiple expiry choices, and varied investment tools like SIP and SmartInvest; however, traditional forms like launchpads, launchpools, flexible vs locked yield programs remain absent from its ecosystem.

Security, Regulation & Custody

Operating Entity & Jurisdiction

dYdX is operated by dYdX Operations Services Ltd., a Cayman Islands-based company managing the front end and indexing services, and governance itself is transitioning to a Cayman Islands Foundation Company for stronger legal structure and decentralization.

CoinSwitch is operated by operating entities such as Bitcipher Labs LLP (and related entities), incorporated in India and headquartered in Bengaluru, and has been active since its founding in 2017, serving as one of the country’s primary crypto platforms.

Licenses/Registration

The platform doesn’t hold traditional financial licenses like VASP but has voluntarily released a MiCA-aligned whitepaper detailing its token governance, risk frameworks, and legal positioning under the EU regulatory regime.

The platform is registered with India’s Financial Intelligence Unit (FIU-IND) and complies with KYC, AML, and CFT regulations; it also holds ISO/IEC 27001:2022 certification for its data security framework.

Custody

Users retain full custody due to the non-custodial, smart-contract model; funds are verifiable on-chain in real time (transparent Proof of Reserves), and the protocol publishes open-source audits—there’s no centralized cold-reserve custody by dYdX itself.

Custody is managed via trusted third-party custodians using multi-party computation (MPC) safeguards and encrypted cloud infrastructure; CoinSwitch publishes regularly audited Proof of Reserves reports that consistently show it holds assets equal to or exceeding client holdings.

Insurance & Protection Funds

dYdX does not maintain insurance or protection funds like centralized platforms—liquid funds rely on cryptographic guarantees and community governance rather than third-party insurance.

There is no public mention of any insurance policy or dedicated protection fund for user assets beyond standard safeguards and reserve backing.

Incident History

Since its launch, dYdX has not experienced any major hacks, freezes, or regulatory penalties—its decentralized chain operations and open-source design have helped avoid such incidents.

There are no notable past incidents of hacks, service suspensions, freezes, or regulatory fines reported for CoinSwitch, indicating a clean security track record.

Risk Controls

As a non-custodial DeFi platform, security hinges on your wallet; dYdX’s interface supports API and WebSocket connectivity but does not offer traditional controls like 2FA or sub-account whitelists because private key and wallet security remain user-managed.

To protect user assets, CoinSwitch enforces two-factor authentication (2FA), PIN or biometric app locks, SSL/TLS encryption, anti-phishing measures, and secure API key management; however, support for sub-accounts or API permission granularity is not prominently featured.

Transparency

The protocol maintains high transparency—open-source code, public chain data, on-chain governance/fund flows, and MiCA-aligned documentation provide clear accountability, though there’s no direct monthly performance report format or formal SLA.

CoinSwitch demonstrates transparency through independently reviewed Proof of Reserve publications and publishes reserve audits; while live wallet addresses are sometimes shared, there’s no formal SLA or regular monthly user reports.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

dYdX does not support direct fiat deposits; instead, users bridge in crypto via Skip Go Fast, Skip Go regular, or Coinbase/Noble, with instant to few-minute settlement depending on method.

The platform supports Indian users primarily with UPI and bank transfers, offering straightforward deposit flows with rapid crediting; there are generally no stated minimums or maximum limits, yet processing can take up to 24–48 hours in edge cases.

Supported Fiat Currencies & Conversion

dYdX does not support direct fiat deposits; instead, users bridge in crypto via Skip Go Fast, Skip Go regular, or Coinbase/Noble, with instant to few-minute settlement depending on method.

KYC (Verification Levels)

dYdX is fully non-custodial and does not require any KYC levels—there is no basic or advanced KYC, and therefore no user limits tied to identity verification.

Identity verification is quick and streamlined through a video-KYC process; most users complete a single KYC tier sufficient to unlock full trading capabilities—there are no distinct “basic” or “advanced” tiers publicly outlined, and limits are implied rather than formally segmented.

Withdrawals

Withdrawals are subject to network-specific rules—USDC via Noble has default rate limits (e.g., up to 1% of TVL per hour), supported chain options vary and times range from seconds to minutes depending on the route.

Withdrawals are available via supported networks such as ERC-20 or TRC-20 where applicable; timing is generally swift once initiated, though specific withdrawal ceilings aren’t transparently listed and depend on network conditions and anti-fraud checks.

Customer Support

dYdX provides in-app live chat powered by ACX, documentation-rich help center and community forums, aiming response times of 1–2 hours via opening help tickets and growing self-service tools continuously.

Support includes 24/7 availability through in-app chat, email ticketing, and a dedicated FAQ hub that handles common issues; response times vary but generally resolve routine inquiries promptly, with clear procedural guidance available online.

Languages & Localization

The platform primarily supports English and Turkish for now, with localization and additional languages planned later; fiat values are not directly displayed in euros since there’s no native fiat handling built in.

The interface is fully English and tailored for Indian users with INR display and local payment integration; fees appear in INR though sometimes mirrored for understanding in USD/EUR, and regulatory messaging aligns with Indian compliance norms.

App Quality & Stability

The interface is robust and designed to feel like a centralized exchange in performance and UX—recent updates and seamless deposit/withdrawal UX suggest solid stability with minimal crashes reported.

CoinSwitch’s mobile app receives frequent updates, with recent versions focused on improved UI, enhanced security, performance optimization, and greater stability; overall, the app is robust and reliable for daily trading.

Experience, Performance & Ecosystem

UX/UI

dYdX offers a dual-mode interface—Default Mode provides a simplified, intuitive layout ideal for newcomers exploring perpetuals, while Pro Mode unlocks advanced UI features and full functionality akin to the web platform, allowing users to grow into the system at their own pace.

The mobile app provides a clean, intuitive interface designed for instant onboarding, ideal for beginners, while CoinSwitch PRO caters to advanced users with a denser, more data-rich screen optimized through a recent redesign for better structure and faster coin discovery.

Performance

Built on its own low-latency Cosmos-based chain, dYdX delivers fast order execution and handles high trade throughput smoothly; while past infrastructure bottlenecks during extreme volatility prompted upgrades, there’s no user-facing KYC queuing since KYC isn’t part of the flow.

An enhanced matching engine powers faster trade executions and clear pre-trade pricing details, helping reduce lag even during volatile periods; historically, the platform maintains stability under load with no widely reported outages or excessive KYC delays.

Education

dYdX has launched a user-friendly trading guide through its Learning Hub to help onboard new traders—from wallet connection to placing orders—and while there’s no fully featured simulator or Spanish-specific academy yet, the guides are simple and approachable.

CoinSwitch maintains an active content hub featuring educational video series on futures and options, beginner-friendly explainers, and technical analysis blogs; however, while rich in English, the platform lacks Spanish-language learning resources or a full demo/simulator environment.

Community

dYdX fosters a vibrant ecosystem with active community forums, Discord channels, and a structured referral/affiliate system offering trading incentives and rewards for community engagement learners and contributors.

The platform fosters an engaged user base through its newsletter updates, educational blogs, and community-driven feedback programs, and offers a referral program rewarding both users and friends, though there’s no official presence on Discord or public forum channels.

Integrations

The platform features seamless TradingView-powered charting, open APIs for external bot and automation support, and compatibility with data tools via community resources, though no built-in tax or accounting modules exist.

CoinSwitch PRO supports API trading with robust endpoints for spot and futures, including features like arbitrage-finder; it doesn’t yet offer native TradingView chart embeddings, external bot support, tax-specific integrations, or accounting tools.

Who Each One Is Best For

dYdX is perfect for traders comfortable with DeFi and eager for fast, non-custodial perpetual trading, while those unfamiliar with blockchain UI or preferring guided spot experiences might find the learning curve and interface options less suitable.

CoinSwitch suits beginners and long-term investors who value simplicity, trust, and educational support, with PRO attracting semi-professionals or tech-savvy traders; full-fledged traders or institutional users seeking highly customizable tools may find the platform’s ecosystem still maturing.