cryptocurrency has emerged as one of the fastest-growing digital assets in the market in the recent bull run of 2020 & 2021. Being started as decentralized digital money with the most popular being Bitcoin, it has now become a trading asset.
5 Best Crypto Exchange in India
In the past month, the Indian crypto industry has been rejuvenated by a recent Reserve Bank of India clarification stating that its 2018 circular preventing banks from dealing in “virtual currencies” is invalid and cannot be cited anymore after it was set aside by the Supreme Court in 2020. This has been a great boost to the Indian crypto community.
Binance and other crypto exchange services are already running for quite some time but they don’t allow trade in Indian currency. The dollar was the main means of buying crypto coins which is not very convenient for Indian users.
Today, investors and traders keen to buy and sell various digital assets available in the market can simply use the different crypto exchanges run by Indian crypto startups. These exchange platforms convert government-backed currency (Rupee in India) into the cryptocurrency of your choice, and vice versa when you divest — for a small fee.
Before investing in cryptocurrency you must know that it is a highly volatile and risky business. So keeping this in mind let’s start with a list of the 5 best Crypto exchanges in India.
Also read: How To Become A WhatsApp Beta Tester For Android
List of 5 Best Crypto Exchange in India
Wazirx is one of my favourites and top in the list for obvious reasons. WazirX is an Indian subsidiary of Binance Holdings, one of the largest cryptocurrency exchanges in the world. Founded in 2017, by Nischal Shetty (CEO), Siddharth Menon (COO), and Sameer Mhatre, is a fast-growing cryptocurrency exchange with over 1 million users.
Trading Fee: 0.2 % in INR and 0.1% in WRX
- Integration across various platforms – WazirX is supported on Web, Android, iOS, macOS, and Windows. WazirX trading app is available on Google Play Store and App Store.
- Supports global currencies – WazirX is integrated with the Binance app to allow for global currency investing.
- P2P Trades – WazirX also has a peer-to-peer (P2P) trading engine that matches users to trade with one another. on top of that this service is absolutely free.
- Refer & Earn: Wazirx offers a 50% commission on transaction fees for the friend who joins by your referral link. And this is not just for a month or year but a lifetime isn’t it cool!!.
- Annual Maintenance Charge: Zero, No maintenance charges
- 24×7 Customer support
Serves Issues: Sometimes during peak trading and high demand, it stops working. But they resolve issues immediately but that can cost you money if you are an intraday trader.
INR Deposit: Sometimes Wazirx faces INR deposit issues. Many times people have complained on social media that the INR deposit-taking almost 24-30 hrs to reflect into their Wazirx wallet.
CoinDcx is a Singapore-based company that specializes in crypto-enabled financial services. In India, the CoinDCX office is located in Mumbai. The exchange claims to have over one lakh active users and offers more than 200 cryptocurrencies. The trading fee is minimal while the deposits and withdrawals are free.
Trading Fee: 0.1 %
- Integration across various platforms – CoinDcx is also supported on Web, Android, iOS, macOS, and Windows.
- 24×7 Customer support: 24 x 7 customer service attracts users across India
- Low trading fees: Low trading fees of 0.1% is really a strong point in multiple trading.
- Interactive interface: It has a slightly better interface than Wazirx where graphical analysis is easier.
- INR Deposit/Withdrawal: Seamless INR deposit and withdrawal
- Serves Issues: During high dump and pump, CoinDcx faces issues of critical server down.
- Deposit options: Limited deposit options only available
Also read: How to Get Free Unlimited Mobile Number
3. CoinSwitch Kuber
CoinSwitch Kuber is one of the best crypto exchanges based in India. It started back in 2017 and now houses over 7.5 million traders. It is an Indian startup founded by Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni. This platform offers 100+ cryptocurrencies with popular names like Bitcoin, Matic, Ethereum, Dogecoin, and more.
Trading Fee: Zero
- Instant Cryptocurrency Trading: The platform allows customers to instantly buy, sell, and trade more than 100 cryptocurrencies in one tap.
- No Brokerage: CoinSwitch Kuber adheres to the zero brokerage policy. Therefore, it helps customers to buy and sell their favorite crypto without hidden charges.
- No Lock-In Restrictions: Unlike many biggest cryptocurrency exchanges, CoinSwitch Kuber allows traders to withdraw their earnings instantly. In addition, its no lock-in period feature makes the exchange a popular choice among Indian traders.
- Reward System: There is a coupon-based reward system that unlocks after completing milestones. For instance, there is a reward coupon for verifying the account.
- Delay in Price: A slight delay between the actual price and the selling price.
- Mobile app only: The biggest drawback is that this is available on mobile app only.
- No Realtime Trading Graph: It does not pack the tools to offer quality day trading. Although you can see the vague graph which is also not real-time.
- Limited coins: Limited coins are available for trading
Started in 2014 ZebPay has served over 3 million members. The interface of the exchange is clean, intuitive, and simple with advanced trading features. You can start trade on several crypto coins. It has multi-layered security protocols to protect the privacy and data of the user.
Trading Fee:Makers = 0.15% and Takers = 0.25%
- Competitive rates
- Robust API
- Trade across devices
- Enhanced security controls
- Limited coins: As of now Zebpay has only a few coins listed such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin EOS, and others.
- Membership Fee: 0.0001 BTC or equivalent per month.
- Intraday Fees: 0.10%
Unocoin is one of India’s leading and oldest crypto exchanges. It started operations in the year 2013 and launched as a pioneer in the Bitcoin realm. Unocoin primarily operates and services people in India but has a goal to reach global markets as a top player. The exchange platform offered by Unocoin is very simple and easy to use the platform.
Trading Fee: 0.7%
Note: The trading fee structure is different here
- Firstly, a fee of 0.7% commission is charged on all buy and sell orders. Users can get this fee dropped to 0.5% if they buy/sell at least 100 BTC.
- A maker fee of 0.4%
- A Taker fee of 0.6%
- API Powered: Unocoin Wallet gives users the autonomy to efficiently avail real-time market trading insights.
- Paper Wallets of BTC: The platform allows users to create offline paper wallets with the access of a private key pair or a public key pair.
- Customer support: Slow customer service and limited options.
- Single Coin: The only digital asset is Bitcoin
- Fees & Bitcoin prices are higher than other popular cryptocurrency exchanges
- Tedious verification process
Final Words: Best crypto exchange in India
All the above-mentioned crypto exchanges are best in their own way. You can start investing directly with Indian rupees by complying with basic KYC. It depends on your personal preference to choose the crypto exchange platform. My personal preference is Wazirx in the Indian crypto exchange because I can transfer my funds anytime in the Binance crypto exchange without any hidden charges. Do comment below what is your favourite and mention if any additions are needed.