Top Seven Crypto Exchanges in India

India has the most cryptocurrency owners worldwide, even though the Indian Government has not yet decided what it will do about cryptocurrencies.

Indians are reluctant to purchase cryptocurrency but don't share this uncertainty with their policymakers. However, with the abundance of pointless material circulating on social media and chat applications, it's simple to lose hard-earned money.

What is Cryptocurrency?

Cryptocurrencies are virtual money supported by Blockchain technology. Blockchain is a decentralised database that keeps track of all its users in real-time. It is so transparent and unchangeable.

Having stated that, the value of any cryptocurrency depends on the public. Prices rise as there are more buyers. Similar to this, a sell-off can destroy the value of any cryptocurrency.

What is a crypto exchange?

An organisation that allows customers to trade cryptocurrencies or other digital currencies for traditional fiat money or other assets is known as a cryptocurrency exchange, often referred to as digital currency exchange (DCE).

Exchanges may accept credit card payments, wire transfers, and other forms of payment in exchange for virtual money or cryptocurrencies. An exchange for cryptocurrencies can work as a matching platform that merely charges fees or as a market maker that frequently uses the spread between the bid and ask prices as a transaction commission.

Top Seven Crypto Exchanges in India

1. WazirX 

The most prosperous cryptocurrency exchange in India, WazirX, began trading on March 8 and aspires to be the most reliable one there. The platform controls a system capable of handling millions of transactions, offers its users peer-to-peer transaction capabilities, and can scale the framework to meet growing demand.

The most prosperous cryptocurrency exchange in India, WazirX, began trading on March 8 and aspires to be the most reliable one there. The platform controls a system capable of handling millions of transactions and can scale up the framework to meet increasing demand. It also offers its customers peer-to-peer transaction capabilities.

2. CoinDCX

It was introduced on April 7, 2018, to provide consumers with an easy-to-use environment where they could access a wide range of financial goods and services made possible by market-leading security and insurance protection mechanisms. Other payment options, such as UPI and IMPS, are also accepted in addition to bank transfers.

3. CoinSwitch

For a time now, CoinSwitch has been a fixture in the Indian cryptocurrency sector. It boasts a well-rated mobile app, supports over 80 cryptocurrencies, and prides itself on answering customer support staff emails in under 15 minutes.

CoinSwitch also doesn't impose any commissions on cryptocurrency trades. This is because it is a non-custodial exchange, meaning it does not personally retain any cryptocurrency or user funds. Instead, CoinSwitch is a middleman that makes it simple and affordable for users to purchase through other crypto exchanges.

Also Read: Giottus Review: Best Crypto exchange in India

4. Unocoin

Unocoin is India's first cryptocurrency exchange. Their smartphone app provides a crypto trading platform independent of hardware. Most of the cryptocurrency assets are housed in cold storage vaults. The computer that created these Bitcoin addresses will never establish an internet connection.

Additionally, Unocoin offers fingerprint security and two-factor verification for its mobile application. The fee for Bitcoin transactions on the trading platform is 0.7 per cent, but it drops to 0.5 per cent once you reach gold membership status. Unocoin charges a fee of 0.0005 BTC for every Bitcoin (2,200) when withdrawing money.

5. Bitbns

Bitbns is a user-friendly cryptocurrency exchange in India. It is designed for novice investors' needs and all of their considerations. They offer a variety of functions and versatility. The registration process can be finished in two steps: Enter your details, then begin trading cryptocurrencies.

To protect your money, Bitbns employs cutting-edge security solutions. Bitbns also use the most cutting-edge Grade-A security feature to guarantee your transactions' security. Additionally, they have two-factor authentication set up for data security.

6. Zebpay

One of the reliable sites in India to purchase cryptocurrency is Zebpay. In addition, several cryptocurrencies, including Bitcoin, Bitcoin Cash, Ripple, Litecoin, and others, are available for purchase.

Zebpay boasts that it keeps 98 per cent of its users' storage "cold." In short, cold storage is very secure because it doesn't connect to the internet while it's empty.

There is an extra membership cost if you don't trade on this platform at least once each month. Zebpay offers up to 6% interest for keeping cryptocurrency. If you lend bitcoin, the interest rises to 12 per cent.

7. Binance

The market leader in P2P cryptocurrency trading is Binance. It supports a large number of cryptocurrencies. There are various currencies available to invest in on the large site. The Binance coin is another native coin of Binance (BNB). Additionally, there is a clear benefit if you utilise BNB with them. You won't be charged for deposits with Binance.

Depending on how much they trade, it assigns its users to one of several VIP levels. As you make more trades, your VIP level increases, and you pay lower trading costs with each level-up. As a result, Binance is exceptionally adaptable and has a stellar reputation. But for newcomers, there are so many choices that it might be intimidating. Therefore, medium to advanced users should use it.

Conclusion

Please be aware that investing in cryptocurrencies involves some market risks. Therefore, this is only advised for those with technical expertise in cryptocurrencies and a strong tolerance for risk.

Therefore, the platforms above can best assist you if you have what it takes to experiment with the world of cryptocurrencies.

After carefully considering the requirements of different investors, the list of the most well-known cryptocurrency exchanges in India is created. Therefore, investing your money in any of the exchanges mentioned above is safe because they all have strong security, a low transaction cost, and an excellent reputation.