The total number of crypto users has increased globally including in India. Here are the best crypto exchanges for Indians
Crypto exchange is not new to Indians. If you are wondering how you can get cryptocurrencies or start investing in cryptocurrencies, cryptocurrency exchanges are there for you.
Crypto exchanges are like shopping malls where we buy and sell jewelry, clothes, luxurious bags, and other valuable things.Â
Simply put, a crypto exchange is a trading platform where investors buy and trade cryptocurrencies.
Instead of those luxurious things we buy and sell in the shopping mall, digital assets such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Shiba Inu (SHIB), and others are traded on the crypto exchange.Â
The Crypto exchange assists traders in keeping track of fluctuating market values and links buyers and sellers to facilitate cryptocurrency trading.
In 2020, when the pandemic caused the world economy to slow down, the Indian economy was ready for cryptocurrency.
In India, demand for digital financial assets is increasing. Indians have begun to use crypto exchanges to invest in cryptocurrencies.
Several cryptocurrency exchanges in India saw millions of users register their trading accounts in less than a year.
So, while it is not difficult to find a crypto exchange to use in India because there are many, it is more difficult to choose the best one for you. So, in this article, we’ll discuss the best crypto exchanges for Indians.Â
Which Is The Best Cryptocurrency Exchange In India?
Cryptocurrency exchanges are not a new thing in India. Indians have begun to use cryptocurrency exchanges. The following crypto exchanges are emerging as the best platforms to buy and sell digital assets in India.
These platforms can be beneficial to you if you want to trade cryptocurrency in India.
- Wazirx
- Zebpay
- CoinSwitch Kuber
- CoinDCX
- UnoCoin
1. Wazirx
WazirX is one of the best crypto exchanges for Indians. WazirX, India’s largest and most trustworthy cryptocurrency exchange, was founded in 2018.
Nischal Shetty, the founder of WazirX, is now a major participant in the industry. WazirX has surpassed 2 million customers, with half of them joining in the first half of 2021.
WazirX is a cryptocurrency trading platform that allows users to trade, manage, track, and analyze digital assets. WazirX is one of the most popular crypto trading apps in India, with over 12 million users as of April 2022.
It provides a platform as well as a set of tools for trading cryptocurrencies. The tools are designed to make it simple for anyone to start trading cryptos and to provide you with the knowledge, tools, and guidance you need to improve your trading skills.Â
The platform has an easy-to-use trading interface and resources for learning how to trade cryptocurrencies.
WazirX imposes a 0.20 percent fee on each deal’s trade value, as well as a discount based on WRX holdings.
Users can trade cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others through a single window that gives them access to the world’s most liquid markets.
Wazirx also serves as a crypto exchange in India for traders, as well as supports peer-to-peer exchanges. It works on all platforms, including PCs, MacBooks, iPhones, and Android phones. WazirX accepts Bitcoin and Ethereum, among other cryptocurrencies.
WazirX was recently bought by Binance, the world’s most popular cryptocurrency trading platform.
Pros and Cons Of Wazirx
| S/N | PROS | CONS |
| 1 | Indian investors can use the WazirX Smart Token Fund to spread out their cryptocurrency holdings and build them up early on. | Since March 2021, WazirX has discontinued selling crypto financing services. |
| 2 | WazirX has teamed up with Binance, one of the world’s largest cryptocurrency exchanges. | Withdrawing crypto assets from the platform costs a lot of money. |
| 3 | On mobile browsers, the WazirX website functions effectively as a web app. | WazirX is unable to supply sufficient liquidity. |
| 4 | The fund receives a portion of the profits. and ensures the users. | The charge fee is relatively high. |
| 5 | UPI deposits in INR are accepted on the platform. | limited features on the mobile application. |
| 6 | The platform allows for peer-to-peer interaction. | |
| 7 | The platform makes provisions for the tools and guidance you need to improve your trading skills. |
Features of Wazirx
1. Security
Every login on WazirX requires two-factor authentication. Every trade that completes a successful exchange is notified by email and smartphone alerts.
An app lock is provided by WazirX to prevent unauthorized access to your wallet. They also keep the majority of their digital assets in cold storage.
2. Fee
They charge a maker and a taker fee of 0.2 percent. They do not charge any fees for cryptocurrency deposits. They do, however, demand a substantial fee for bank transfers.
They charge 0.0005 BTC for every BTC withdrawal and do not impose an INR withdrawal fee.
3. Payment Method
WazirX accepts cryptocurrency deposits as well as bank transfers, NEFT & RTGS, IMPS, and UPI. However, bank transfers or NEFT incur a fee of INR 5.9, but UPI transactions incur nearly no fees.
4. Light Speed Transaction
The platform can handle millions of transactions at the same time.
2. Zebpay
Zebpay is also part of the best crypto exchange for Indians. Zebpay, an Indian cryptocurrency exchange, assists traders in purchasing and holding Bitcoin.
Other cryptocurrencies such as Ripple, Ethereum, Tether, and Litecoin are also supported.
The Zebpay mobile app now includes an integrated best online crypto wallet. Traders who are just getting started in the crypto market use it. It allows them to quickly learn about the trading aspects.
To begin trading, you can use your cell number to sign up and complete your KYC. Refer-and-earn is supported by the platform.
So, if you can persuade others to join Zebpay by selling the notion of crypto trading, you’ll gain 50% of the trading fees generated through your connections for a year.
The minimum deposit amount for UPI is Rs 100, while the minimum deposit amount for other modes of payment is Rs 1,000.
Zebpay charges fees in all price ranges. It has a monthly membership cost of 0.0001 BTC. According to the app, you may avoid costs by actively investing in it. Zebpay charges 0.15 percent for creators and 0.25 percent for takers.Â
However, if you trade (buy and sell) on the same day, you will only be charged a 0.10 percent trading fee.
All crypto deposits are free with Zebpay. However, if you deposit through UPI, you will be charged Rs 15, while net banking will cost you 1.77 percent.
The company also charges a fee of Rs 10 for all withdrawals and for Bitcoins it is 0.0006 BTC.
Pros and Cons Of Zebpay
| S/N | PROS | CONS |
| 1 | Zebpay charges a minimal 0.10 percent fee for intraday trading. | Currently, the platform only accepts six cryptocurrencies. |
| 2 | For BTC-INR transactions, Zebpay offers lightning-fast payments. | The network charges a monthly membership fee of 0.0001 BTC or equivalent in fiat currency. |
| 3 | The Zebpay software and wallet are easy to use and secure. | The maximum number of trading pairs per day is 15. |
| 4 | The platform charges only 0.15% in maker fees. | |
| 5 | 0.15% in It includes Includes an integrated top online wallet. |
Features of Zebpay
1. Fee
Zebpay charges the maker a 0.15% fee and the taker a 0.25% fee. Withdrawal fees are 0.00049 BTC on Zebpay for Bitcoin transactions. The platform charges a Rs. 10 INR fee on withdrawals.
A 0.10% fee is charged to trade intraday on Zebpay. Zebpay also charges a monthly membership fee of 0.0001 BTC or equivalent.
2. Trusted Exchange
Zebpay is one of the most trusted cryptocurrency exchanges among Indians. Almost all Indians bought their first bitcoin from this very platform, as it is also one of the oldest exchange platforms.Â
3. Security
Zebpay’s security measures are tight enough to keep its users’ cryptos safe.
3. Â CoinSwitch Kuber
CoinSwitch Kuber is one of the best crypto exchanges for Indians and the most trusted crypto trading platform. Since its inception in 2017, it has served millions of merchants. Its goal, backed by Sequoia Capital, is to make crypto trading more accessible to the general public.
It is one of the top crypto trading aggregators because it is linked with some of the most popular crypto exchanges.Â
CoinSwitch is a mobile-only cryptocurrency trading platform that is only available in India.
CoinSwitch Kuber has handled over $5 billion in cryptocurrency transactions. More than 80 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, allow you to purchase more than 80 cryptocurrencies.
You can start with as little as INR 100 on this site. It includes UPI, debit and credit cards, bank transfers, and other payment options for the Indian ecosystem.
To secure your account on the app, you can use a four-digit pin code. According to CoinSwitch Kuber, the first 100,000 users on the site would not be charged a trading fee for the first 100 days.
People have flocked to CoinSwitch Kuber because of its easy user interface and strong promotion.Â
Deposits in INR can be made via NEFT, bank transfer, or UPI on the top crypto exchange app.
However, the platform refuses to divulge information about its security mechanisms for safeguarding crypto assets. The general service system has to be improved, and the trading details are lacking.
Pros and Cons Of CoinShare Kuber
| S/N | PROS | CONS |
| 1 | INR deposits are accepted promptly by CoinSwitch Kuber. | As it is required to keep KYC details up to date, the platform is not available for demos or free trials. |
| 2 | The CoinSwitch Kuber app has a real-time live chat for quick customer service. | The platform that helps people buy crypto by only using INR as a crypto-to-crypto exchange is currently not supported. |
| 3 | CoinSwitch Kuber offers a user interface that is easy to use for beginners. | Since it doesn’t have the right tools, CoinSwitch Kuber isn’t good for day trading. |
| 4 | The exchange accepts INR as a payment method for 58 coins. | |
| 5 | The platform uses a quick KYC process that allows for online verification in minutes. |
Features Of CoinShare Kuber
1. Fee
CoinSwitch Kuber fees are not disclosed on the website. The only way to find out about trading fees is through a live chat with the customer service team. The company has stated in these chats that it doesn’t charge any fees as of yet.
- Instant Trading
- Zero Brokerage
4. CoinDCX
CoinDCX was founded in 2018 and has quickly grown to become one of the best crypto exchanges for Indians. It is one of India’s most popular crypto trading platforms, with more than 10 million members.Â
CoinDCX is a blockchain wallet and a beginner-friendly Indian cryptocurrency exchange. It is India’s largest cryptocurrency exchange platform and has received significant funding from Coinbase. They offer you the option of exchanging 100+ cryptocurrencies.
CoinDCX says that it does regular audits to improve its security protocols and make sure they are as safe as possible.
It uses a scale that goes from 0.2 percent to 0.020 percent to figure out how much gas costs. It is built on the COSMEX platform, which gives CoinDCX traders access to 1/3 of worldwide crypto liquidity.
The site says that it can teach people who are new to trading and the market about trading and the market.
This is meant to encourage bitcoin trading in India. At any time, you can use CoinDCX to check the bitcoin rate in India.
Pros And Cons Of CoinDCX
| S/N | PROS | CONS |
| 1 | Trading fees are cheap on the platform. | The site only accepts INR as a FIAT currency. |
| 2 | CoinDCX also offers sufficient liquidity to support the expanding number of cryptocurrency trading pairings. | For bigger fiat values, user verification becomes cumbersome. |
| 3 | For Indian merchants, the site offers the widest selection of crypto coins. | To Make bitcoin withdrawals cost a lot of money. |
| 4 | CoinDCX offers 6x leverage on a variety of crypto assets through margin trading. |
Features Of CoinDCX
1. Security
They only have 5% of the total cryptocurrencies of their users in hot wallets. All of your personal information is secure, and not even an internal member has access to it.
CoinDCX provides you with two-factor authentication and also a notification for every exchange in the process.
They even provide you with insurance by Bitgo, which will cover your losses in case of any security breach.
2. Fee
CoinDCX charges a fee on bank deposits. However, they charge no or a minimal fee on UPI deposits.
They charge you a 0.1% taker fee and a 0.1% maker fee, which is less when compared to their competitors.
However, they charge a significant amount of 0.001 BTC per BTC withdrawal.
3. Payment Method
You can deposit either INR or a cryptocurrency to begin trading. They allow you to deposit INR through bank transfers, net banking, NEFT/RTGS, IMPS, and UPI.
To withdraw your funds in INR, you can make a direct bank transfer.
5. Unocoin
Unocoin is one of India’s best crypto exchanges for Indians and also the first cryptocurrency exchange. They offer a device-independent crypto trading platform and have over a million traders on their mobile app alone.
In India, the Unocoin cryptocurrency exchange is gaining traction, with over 150,000 users. The platform now generates over $350 million in income.
The exchange began operations in 2013 with the goal of making Bitcoin more accessible to the country’s billions. Bitcoin transactions are accepted by Unocoin crypto trading services.
Since its beginning in 2013, Unocoin has played an essential role in not just facilitating cryptocurrency trading, but also in the struggle for crypto rights in India.
The entire sign-up process takes less than ten minutes, including registration, bank information, and trading. This elegant system makes it ideal for newcomers to the crypto world.
Pros And Cons Of Unocoin
| S/N | PROS | CONS |
| 1 | Unocoin offers high liquidity, unlike other exchanges. | The platform only supports Bitcoin. |
| 2 | The platform is extremely easy for traders and has simple navigation options. | The Unocoin customer service is slow and has limited technical assistance options. |
| 3 | Bitcoins held on the platform are stored in cold storage or cold hardware wallets. | Fees are higher |
| 4 | Provision of high liquidity |
Features Of Unocoin
1. Security
They store most of the traders’ assets in cold storage vaults. The Bitcoin address of this offline storage is generated on a computer that will never connect to the internet in its lifetime.
Apart from this, Unocoin provides two-factor authentication, and you can lock your mobile application with fingerprint protection.
2. Fee
The exchange charges a 0.7% fee on Bitcoin exchanges, and on reaching the gold membership, it reduces to 0.5%. Whereas on withdrawing a bitcoin, Unocoin charges a fee of 0.0005% per BTC.
Unocoin also charges a maker fee of 0.4% and a taker fee of 0.6%, apart from the 18% government charges on transaction fees.
3. Payment Method
For a withdrawal, Unocoin transfers the amount directly to your bank account through NEFT or bank transfer
Conclusion
We’ve looked at the best crypto exchanges for Indians and the top cryptocurrency exchange platforms that Indians can use, but this is not a full list or a recommendation to invest in.
We think WazirX is one of the best options for beginners because of how safe it is, how easy it is for beginners to use, how much it costs, how easy it is to use, and how you can deposit money.Â
Warizx is also the country’s fastest-growing cryptocurrency exchange. WazirX is also one of the safest and most reliable exchange apps for Indian investors to use.
It lets Indians buy and sell Ripple, Bitcoin, Tron, Ethereum, and more than 100 other cryptocurrencies. This will speed up the adoption of cryptocurrencies in the country.
Hopefully, this article has informed you about which exchange platform to use when trading crypto, but it is left to you to decide what trading platform to use.
