The global market cap for cryptocurrency has long surpassed $1 trillion. It is here to stay in the long run. And, to make profits off of it, a crypto trading account is mandatory. Several options are available right now with a smartphone, a network connection, and a net-banking account(optional, not mandatory). Make secure investments- trade with a reliable crypto exchange that offers high-standard security, connectivity, and low transaction charges. This article aims to enlighten readers about the top cryptocurrency exchanges in India.
Why do you need a Cryptocurrency Exchange?
As its name suggests, a crypto exchange allows a participant to purchase, sell or trade in cryptocurrencies. The listing consists of all the cryptocurrencies that can be traded within the specific exchange. In general, the most popular cryptocurrencies as listed by coinmarketcap are common trading options.
Interested traders may look out for exchange rates offered by popular cryptocurrency exchanges. Filter options for consideration may include crypto holding security, functionality, ease of use. However, the basic features must be checked first before choosing a cryptocurrency exchange not only in India but all over the world.
List of The Top Cryptocurrency Exchanges in India
One of the first cryptocurrency exchanges to bring INR trading options, PayBito also offers some of the lowest transaction fees in the market. The crypto trading platform already has the most popular cryptocurrencies registered in its listings and plans to add more by the end of 2021. The exchange is conceived and maintained by a team of distinguished experts in banking security, finance, crypto trading, and blockchain development.
What sets PayBito apart is its separate fee structure for takers and makers. Transaction fees are 0.1% for the makers and 0.2% for the takers. Trade using PayBito’s own digital asset- the HCX to get 25% off on both ends(0.075% and 1.5% respectively). PayBito also allows users easy withdrawal options between INR 5000 to 25,00,000. Seasoned investors can trade in Futures and OTC for large volumes.
The Crypto Exchange also provides crypto banking services similar to conventional banks, crypto collateralization, and loan options. For large-scale businesses and investors- Paybito also offers unique B2B solutions pertaining to finance, crypto trading, and more. The cryptocurrency exchange app is available across all platforms- Android, iOS, MS Windows, and Web.
Quickly rising as one of the top crypto exchanges, CoinSwitch Kuber has a noticeable presence in India. Starting out as a cryptocurrency aggregator in 2017, CoinSwitch is headquartered in Bangalore, Karnataka. CoinSwitch offers a smooth software experience for users with intuitive UI.
Ideal for both beginners and regular crypto traders, CoinSwitch has more than 3 million users and over 100 cryptocurrencies in its listing. The crypto exchange is backed by reputed investors worldwide. The app version of the cryptocurrency exchange is available in Android, iOS, MS Windows, and other leading platforms- ensuring smooth seamless connectivity.
A popular recent choice for crypto exchange is CoinDCX. Minimal trading fees(0.1%), zero charges on deposits and withdrawals attract a lot of crypto enthusiasts. CoinDCX provides an edge for investors opting for direct trading options between INR and BTC. With 200+ listed crypto coins for trading, all that’s required is a registered mobile number and an active email address.
Users can link their real-world bank accounts and make deposits by NEFT, RTGC, UPI, or even bank transfer. The crypto exchange is smartphone-compatible and has apps for both Android and iOS. CoinDCX also provides useful crypto trading tips in its app and has a minimum withdrawal limit of 1000 INR.
WazirX is one of the most popular crypto exchanges in India featuring multi-language support and high security. The company was founded in 2017 and later acquired by Binance Holdings- the biggest cryptocurrency exchange in the world by trading volumes. Wazir X offers a wide variety of trading features, starting with P2P transactions, investing options in both INR and USD.
The crypto exchange app often rewards users through in-app contests. Security features are good with 2FA and App Passcode options for quick access. Users can make a deposit as little as INR 100 through any conventional or digital banking methods, including UPI. Wazir X charges 0.2% taker and maker fee. The cryptocurrency exchange is accessible through Android, iOS, Windows, and Web browsers.
One of the oldest cryptocurrency exchanges in India, Unocoin began its journey in 2013. Presently, the crypto trading platform serves more than 1.2 million users. One of the novel features of UnoCoin is its unique Merchant Gateway payment system. UnoCoin users can recharge and top up smartphones, DTH as well as wallets for a small transaction fee.
The unique gateway system accepts Bitcoin as a payment mode. Another distinct UnoCoin aspect is the Schedule Sale- which empowers users with the option to automatically sell their assets from the profile tab itself. The initial sign-in has some KYC requirements that need to be met.
UnoCoin charges a higher fee for both buying and selling at 0.7%. The minimum deposit is also higher at 1000 INR. After 60 days of usage, the rate is reduced to 0.5% along with an automatic membership upgrade. To date, UnoCoin has completed more than 8 million transactions. In terms of security, the app offers a biometric feature, with a finger ID and passcode.
The factors that actually deserve attention are security, network speed, transaction charges, the exchange’s credibility, and additional or optional features. Choose wisely, and ensure your pick from the top cryptocurrency exchanges in India serve your needs perfectly.
Huge volatility and liquidity within the crypto market make winning big an easy task. For the same reasons, losses in crypto trading are similar to profits. But like all other forms of trading, chances of a loss can never be eliminated. Experience in trading or investment reduces the chances of a loss to a good extent- but no one is born experienced. Rather, what you really can do is look out for the features that make a positive impact on your trading experience.