Zerodha Coin: Is Minimalism Turning into Neglect?

Zerodha Coin - Direct MF
1

As a long-term user of the Zerodha ecosystem, I’ve always appreciated the “no-nonsense” philosophy. However, there is a fine line between being minimalistic and being outdated. For those of us who primarily invest in Mutual Funds, Zerodha Coin is starting to feel like a platform stuck in the past.

1. The Feature Vacuum: Groww, Kuvera, and INDmoney are Miles Ahead

While Zerodha was a pioneer in direct mutual funds, it has barely evolved. Competitors like Groww, Kuvera, and Scripbox offer a suite of tools that make Coin look like a basic spreadsheet. Even newer entrants like INDmoney provide a vastly superior experience with:

  • Goal-Based Investing: Creating buckets for retirement or education.
  • Smart Analytics: Deeper insights into portfolio overlap and tax harvesting.
  • SIP Flexibility: Features like “Smart SIPs” that Zerodha currently lacks.

2. The Fragmented Ecosystem: Why Three Apps for One Account?

For a non-finance or non-tech person, Zerodha is a maze. Why are we forced to juggle Kite, Console, and Coin?

  • The Cumbersome Split: Most modern platforms offer a unified “all-in-app” experience. In Zerodha, you buy in one app, check your tax reports in a web portal (Console), and trade in another.
  • The “Kite” Gatekeeper: Why is Kite authorization mandatory for everything? Even a simple password reset requires Kite’s complex authentication layers rather than a standard mobile or email OTP. For those who don’t touch stocks, this is unnecessary friction.

3. “Name-Sake” Features: The Hyperlink Illusion

Zerodha has recently added Fixed Deposits and NPS , but the integration feels half-baked.

  • Instead of a native, trackable experience, we often find ourselves clicking through hyperlinks that lead to external interfaces.
  • If we can’t track the real-time growth or status of these investments directly alongside our mutual funds in the app, it’s not a feature—it’s just a shortcut.

4. The “Demat Lock-in” Trap

Many feel “stuck.” Because Zerodha stores mutual funds in Demat form, moving to a non-Demat platform isn’t simple. For ELSS (Tax Saver) funds, the lock-in period makes moving these units an absolute nightmare. It feels like our loyalty is being leveraged to keep us on a subpar platform.

5. Why is it Free if the Experience Suffers?

We know Zerodha doesn’t make money from Coin. But here is the reality: We are ready to pay. I, and many others with significant family portfolios, would gladly pay a subscription fee if it meant getting a modern, unified interface that doesn’t treat mutual fund investors as second-class citizens to active traders.

The Bottom Line

Zerodha’s “Substance over Form” approach is respected, but right now, the substance is lacking. If Zerodha doesn’t start focusing on the “Investor” by unifying the experience into a single, feature-rich app, they risk losing long-term capital to platforms that actually value the user’s time.

It’s time to evolve, Zerodha. Give us one app that actually works.

@Neelesh @Bhuvan @nithin

2

Thanks for the detailed feedback. Most of what you’ve raised is valid, and we’re already working on it.

On features - We’re building goal-based investing, better analytics, and SIP improvements. Some of it is already in testing internally.

On the fragmented experience - We’re bringing the full mutual fund flow into Kite. Buy, sell, SIP, track, all within Kite. The Coin itself is getting a complete revamp, with MF, FD, and NPS all sitting in one portfolio view. The app juggle is going away.

On FD and NPS - We’re rebuilding both to be fully native, no external redirects. You’ll track everything in one place.

On demat - we’re not changing this. But we understand the portability friction is real. We’re working with CDSL and the RTAs on APIs that make unit conversion a same-day online process. The ELSS migration pain you’re describing is exactly what we’re solving at the infrastructure level.

On paying - we’re not going to charge for Coin for MF. The experience should be good because we built it right. The improvements are coming regardless.

A lot of what you’ve asked for is already in progress. You’ll see the changes in the coming months.

3

Appreciate the detailed and transparent roadmap; it’s great to see Zerodha prioritizing a unified, goal-based experience for long-term investors, I look forward to seeing these updates roll out.