Introduction
Even though the idea of cryptocurrency has been around for almost a decade now but Indian economy popularly welcomed cryptocurrency somewhere at the beginning of 2020. This is seen as a result of the global pandemic of 2020 that led to an economic slowdown which further created the demand for digital financial assets in India. Thus, within the same year, millions of Indian users registered their trading accounts with top cryptocurrency exchanges in India.
Top Crypto Exchanges in India
The growing preference of Indians toward cryptocurrencies has brought cryptocurrency exchanges into the limelight too. These cryptocurrency exchanges have revolutionized the complete cryptocurrency landscape in India.
Coin Switch Kuber
This cryptocurrency exchange offers one of the best Bitcoin trading experiences in India. Its easy KYC and AML verification procedures make the trading smoother. The Coin Switch Kuber mobile app provides a user-friendly trading interface that accepts INR deposits instantly with bank transfers and other payment methods too. Presently, this exchange supports 58 cryptocurrencies that can be traded with INR. However, trading fees are not disclosed on the website but this information relating to trading crypto fees is provided by the customer support team in the form of live chat.
Zebpay
This Indian exchange helps traders and buyers to hold Bitcoin. Furthermore, it facilitates the trading of other cryptocurrencies also such as Ethereum, Tether, Litecoin, and Ripple. As a result, this simple crypto trading platform also integrates the best online crypto wallet in its mobile app which allows long-term investors to move their crypto holdings from exchange interface to wallet making it easier to control the digital assets. The platform also provides lightning fast – payments to conduct BTC- INR transactions. The platform charges only 0.15% as the maker fees whereas for the intraday trading Zebpay charge as low as 0.10% fee. However, its withdrawal charges are somewhere around 10 INR.
WazirX
This popular cryptocurrency exchange was founded in the year 2018. So far it has reached a customer base of 2 million in just 3 years. The WazirX website is both desktop and mobile friendly. Thus, it can be said that Wazir X has a beginner-friendly interface that allows Indian investors to expand and diversify their crypto portfolios. Recently, the company has also partnered with one of the biggest crypto exchanges in the world, Binance to smoothen the crypto trading functions. However, this platform charges 0.2% from both maker and taker whereas the withdrawal fees on WazirX land at 0.0006 BTC.
UnoCoin
This cryptocurrency exchange is becoming a big buzz in India with more than 150,000 customers at present. This extended customer base helps it create revenue of approximately $350 million. By starting its operations in the year 2013 company aimed to make Bitcoin and other digital assets more accessible for the millions of the population in the country. The platform is known to offer high liquidity, and here Bitcoins are held in cold storage or wallets too which distinguishes it from other crypto exchanges. UnoCoin charges 0.7% as the commission on the purchase and sale of crypto orders, however, this fee can be lowered to 0.5% for orders of 100 BTC and more. Alongside, it charges 15% government tax on the transaction fee making it a costly affair.
CoinDCX
This Singapore-based unique platform serves 200 different types of crypto assets. However, its operations grew significantly in India since 2018 with its office in Mumbai which is backed by Polychain, 100x Ventures, Bain Capital Ventures, and other prominent investors. This platform provides enough liquidity to maintain the growing number of crypto trading pairs. An added advantage that the platform offers is the low trading fees of 0.4% for takers and 0.06% fee for makers. However, the platform charges high withdrawal fees of 0.001 BTC. Its Future trading options also allow 20X leverage along with the easy payment gateway through IMPS and UPI.
Bitbns
This crypto exchange is highly preferred by crypto traders due to its wide list of cryptocurrencies. At present platform serves its users with over 300 listed cryptocurrencies. Besides providing excellent trading services Bitbns also offers mobile apps that are compatible with both iOS and Android. Also, this platform regularly updates the digital assets portfolio and offers fast withdrawal services too with less trading fees At present, there are approximately 4 million users on Bitbns, and it’s 24 –hour trade volume is about $13 billion.
Krypto
This crypto exchange is considered India‘s fastest-growing platform that allows customers to buy more than 100 cryptocurrencies without compromising on rates and liquidity. Alongside, traders also get the choice to buy, sell and exchange popular trading pairs such as INR/DOGE, INR/ETH, and INR/BTC. Furthermore, the platform users also enjoy instant deposits and withdrawal processes which includes transaction in all forms such as INR to crypto, crypto to crypto, and crypto to INR conversions. Krypto’s website is completely transparent and offers competitive discounts. As a result, this platform is emerging as a user-friendly, trustworthy, and well-regulated trading platform for crypto enthusiasts and traders.
How to Choose Best Cryptocurrency Exchange for India?
The growing number of crypto exchanges has certainly created confusion for the users. However, the users need to act smart while choosing the crypto exchanges to trade digital assets and gain a better crypto experience.
● Conduct extensive research, and carefully read the user reviews and feedback.
● Find out the list of the cryptocurrencies platform supports and do they align with your interests.
● Draw the comparative study based on their UI/UX interface, transaction speed, fees, and other hidden costs.
● Consider the security aspects.
● Check the available purchase methods.
Final Words
The idea of making the best out of cryptocurrency largely depends on the masterful performance of the crypto exchanges. As a result, while choosing your respective crypto exchange, be highly careful and conscious. Also, understand crypto exchanges are merely the interfaces to facilitate trade and provide timely guidance in the form of well-researched statistics and content. It’s the users who are the prime decision-makers.
