The Indian economy popularly welcomed cryptocurrency in 2020 when the ongoing pandemic caused a global economic slowdown. The demand for digital financial assets in India is on the rise today. To invest in crypto, Indians have started using cryptocurrency exchanges. Within a year, millions of people registered their trading accounts with several top cryptocurrency exchanges in India.
It is important to compare them based on their plus-points and downsides to find one of the top cryptocurrency exchanges in India. For example, the best exchange for cryptocurrency in India will have a robust security feature mechanism. Similarly, an exchange with low fees can also be considered one of the best exchanges in the country.
There is no particular exchange that can be considered as the best one due to market volatility and market risks. Indian crypto community investors are yet to attain maturity in the country’s crypto markets. Let’s look at some of the best exchanges for cryptocurrencies that traders and investors could rely on as per their investment advice.
Which Is the Best Cryptocurrency Exchange in India?
The following best crypto exchanges in India are emerging as the best platforms in the world for the crypto space. To buy and sell digital assets, any of these five trading platforms can surely emerge as the top cryptocurrency exchanges in India for 2022.
CoinSwitch Kuber is one of the popular cryptocurrency exchanges in India, the platform offers one of the best rates on Bitcoin trades. It is easy to trade BTC instantaneously on CoinSwitch Kuber. The KYC and AML verification procedures are also easy to follow. The CoinSwitch Kuber mobile app is quite helpful in bringing one of the best crypto trading platforms to Indian mobile devices. CoinSwitch Kuber is one of the top cryptocurrency exchanges in India to provide Indian traders a seamless trading interface.
CoinSwitch Kuber – Best Bitcoin Exchange in India
Pros and Cons of CoinSwitch Kuber
|CoinSwitch Kuber accepts INR deposits instantly.||The platform is not available for demo or free trial as updating KYC details is mandatory.|
|Withdrawals can be made with bank transfers and various either payment modes.||The platform is not good for day trading as it does not have the appropriate tools.|
|The platform has a simplistic UI which makes it beginner-friendly.||The platform helps people buy crypto by only using INR as crypto-to-crypto exchanges are currently not supported.|
|The platform implements a fast KYC process, which completes online verification within minutes.|
|CoinSwitch Kuber app has scored great user reviews on Google Playstore.|
|The exchange supports 58 cryptocurrencies, which can be traded with INR.|
|CoinSwitch Kuber app provides real-time live chat service for responsive customer support.|
Why CoinSwitch Kuber?
CoinSwitch Kuber Fees
The transaction fees are not disclosed on the website. Information on the trading crypto fees is provided exclusively via the customer support team through live chat. The company has stated in these chats that it doesn’t charge any fee as yet.
Zebpay, an Indian exchange, helps traders to buy and hold Bitcoin. It also supports to trade cryptocurrencies such as Ripple, Ethereum, Tether, and Litecoin. Zebpay is a simple crypto trading platform. It also has an integrated best online crypto wallet in the Zebpay mobile app. This helps long-term investors move their crypto holdings from the exchange to the wallet, which the investor has more control over. It is used by traders who have just begun investing in the crypto market. It helps them to explore the trading features easily. Also, it is a great trading experience.
Zebpay – Top Crypto Exchange in India
Pros and Cons of Zebpay
|The platform charges only 0.15% maker fees.||The platform charges a monthly membership fee of 0.0001 BTC or fiat currency equivalent to that.|
|Intraday trading on Zebpay is charged at a low 0.10% fee.||The daily trading pair limit is 15.|
|The Zebpay app & wallet facility is simple and safe to use.||The platform only supports 6 cryptocurrencies currently.|
|Zebpay ensures lightning-fast payments for BTC-INR transactions.|
Features of Zebpay Exchange
Zebpay charges the maker with a 0.15% fee and the taker with 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. Check this link and get more details on Zebpay fees structure.
WazirX is one of the most popular crypto exchanges in the country. Founded in 2018, WazirX has become India’s largest and most trusted crypto exchange. Today, Nischal Shetty, the founder of WazirX, has become a key player in the market. WazirX has successfully added more than 2 million customers, half of which joined in the first half of 2021.
WazirX – Trusted & Best Bitcoin Exchange in India
Pros and Cons of WazirX
|The WazirX website works well as a web app on mobile device browsers.||WazirX fails to provide high liquidity.|
|WRX Tokens Fund enables Indian investors to expand and diversify the crypto portfolio early.||WazirX has stopped offering crypto lending services since March 2021.|
|WazirX has partnered with Binance, which is one of the biggest crypto exchanges in the world.||The platform charges a high fee for withdrawing crypto assets.|
|The WazirX platform allows INR deposits made through UPI transactions.|
|The platform has a beginner-friendly UI.|
|The fund takes a percentage of profits and provides insurance for the users.|
Benefits of WazirX Exchange
Crypto trading fee at WazirX is 0.2% for both the maker and the taker. Unlike most cryptocurrency pairs, the platform charges 0% fees for USDT/INR transactions only. The Smart Token Fund transactions are charged with 25% fees on profits. The platform has a minimum buy order limit of 5 USDT, and it also implies a maximum buy order of 100,000 USDT. The withdrawal fees on WazirX are 0.0006 BTC.
Unocoin cryptocurrency exchange is gaining popularity in India and has around 150,000 customers. Today, the platform makes over $350 million in revenue. It has a long term vision. The exchange started its operations in 2013 and aims to make Bitcoin more accessible to the billions in the country. Unocoin crypto trading services actively accept Bitcoin transactions.
UnoCoin – Best Exchange for Cryptocurrency in India
Pros and Cons of UnoCoin
|Unocoin offers high liquidity, unlike other exchanges.||The Unocoin customer service is slow and has limited technical assistance options.|
|Bitcoins held on the platform are stored in cold storage or cold hardware wallets.||The platform only supports Bitcoin.|
|The platform is extremely easy for traders and has simple navigation options.|
Benefits of Using UnoCoin Exchange
Unocoin charges a 0.7% commission on all buy and sell orders. Users can lower this fee to 0.5% for orders of 100 BTC and above. The exchange also charges 15% government tax on the transaction fee. This makes sending and receiving Bitcoins a costly affair. But this fee also depends on the congestion in the Bitcoin blockchain. The maker fee on Unocoin is 0.4%, and the taker fee is 0.6%.
CoinDCX is a unique platform that provides cryptocurrency exchange services across 200 different types of crypto assets. This Singapore-based company has been popular in India since 2018. CoinDCX has set up its offices in Mumbai and the platform has been backed by Bain Capital Ventures, Polychain, 100x Ventures, and other top investors. CoinDCX crypto exchange has also received investments worth $ 5.5M in three rounds of crowdfunding.
CoinDCX – Top Cryptocurrency Exchange in India
Pros and Cons of CoinDCX
|CoinDCX also has enough liquidity to support this growing number of crypto trading pairs.||User verification becomes tedious for higher fiat values.|
|The platform charges low trading fees.||INR is the only FIAT currency supported by the platform.|
|The platform has the largest range of crypto coins for Indian traders.|
|With futures trading, CoinDCX allows 20x leverage.|
|The platform accepts easy payment gateways such as UPI and IMPS.|
|With margin trading, CoinDCX allows 6x leverage on various crypto assets.|
CoinDCX Exchange Services
The CoinDCX exchange charges a 0.04% fee for takers and a 0.06% fee for makers. It charges low fees compared to current industry standards, which is 0.10% for takers and 0.15% for makers. This low crypto trading fee, however, gets negated with a high withdrawal fee. CoinDCX charges around 0.001 BTC fees on every BTC withdrawal.
Bitbns is one of the overall best crypto exchange in India, with over 300 listed cryptocurrencies available on the platform. It offers excellent services and allows customers to buy, exchange and sell cryptocurrencies at the best prices by offering an easy-to-trade, intuitive and simple user interface. Bitbns also offers the cryptocurrency app in India, compatible with both iOS and Android devices. The exchange is currently being used by more than 4 million users with a current 24-hour trade volume of $13 million.
Pros and Cons of Bitbns
|Bitbns offers multiple popular cryptocurrency digital tokens.||Bitbns does not support fiat currencies except for Indian Rupee.|
|Bitbns trading terminal is functional and convenient in both browser and mobile versions.||Debit card or credit card payments are not available as Bitbns payment methods.|
|The developers regularly update the investment and currency portfolio.||Bitbns customer support service has plenty of room for improvement.|
|The crypto exchange offers fast withdrawal processes and less trading fees.|
Bitbns charges trading fees depending on 30-day trading volume and the BNS token holding. Bitbns fees are categorized based on VIP levels ranging from Explorer to Level 9. Takers and makers must also pay a flat fee of 0.25% if they hold BNS tokens worth less than 25 USDT. Lenders at Bitbns have to pay an interest rate of 15%, whereas borrowers are not charged any fees.
Krypto is India’s fastest-growing cryptocurrency exchange that allows its customers to buy more than 100 cryptocurrencies with high liquidity and at the best rates. Traders can buy, sell, and exchange popular trading pairs such as INR/BTC, INR/ETH, INR/DOGE, etc. Krypto cryptocurrency trading platform users can access leading digital coins and enjoy instant deposits and withdrawals with fast crypto to crypto, INR to crypto and crypto to INR conversions.
Pros and Cons of Krypto
|Krypto offers an array of cryptocurrencies.||Krypto customer support is of below-par quality.|
|The website is completely transparent with competitive trading fees and discounts.|
|Krypto offers support for a decentralized ecosystem of crypto products.|
|The cryptocurrency exchange offers fast withdrawal processes and low fees.|
|Users can exchange, buy and sell cryptocurrency with fiat, crypto, and debit or credit cards.|
|Krypto is a trustworthy, beginner-friendly, and regulated trading platform.|
Krypto exchange has provided a transparent fee structure for each cryptocurrency along with minimum and maximum blockchain receive, send, and the fees involved. The exchange does not charge any trading fees, brokerage, or deposit fees. However, there are deposit and withdrawal limits, 50 INR and 100 INR, respectively.
Method to Choose Best Cryptocurrency Exchange For India
Most traders and investors have already found the best exchange for themselves from the above crypto exchange list. However, specific parameters need to be considered before calling a trading platform the best cryptocurrency exchanges in India.
While evaluating crypto exchanges in India, especially to find the best cryptocurrency exchange for 2022, the following factors need to be considered:-
- Users need to conduct extensive research on the crypto exchange platform. They also need to make sure that the user reviews of the crypto exchange platform are authentic.
- The platform should support Bitcoin and other popular cryptocurrencies. Its security should mimic the authenticity of the exchange.
- The platform should provide the best crypto security and have legitimate buy-sell operations.
- The trading platforms can be compared on their buy-sell fees and the overall fee structures, which will also highlight hidden costs.
- The platform needs to work like reliable and popular cryptocurrency exchanges.
- The exchange should support multiple purchase methods.
- The user experience of the exchange is an important deciding factor.
The above criteria can be used for rating other exchanges appropriately. This will also bring forth platforms outside the list of five.
We conclude that the process of finding one of the largest cryptocurrency exchanges in India is not that easy. For some, the best exchange for cryptocurrency trading in India would be CoinSwitch Kuber, which is easy to use and does not charge a hefty fee. Out of the above crypto exchanges in India, Unocoin is also a great option. For experienced traders, the Top cryptocurrency exchange in India for 2022 would be WazirX due to its surging growth over the past few months.
The Mumbai-based cryptocurrency exchange, CoinDCX, is also a top option on this list. It is popular with crypto investors and claims to handle more than one lakh active traders every day. CoinDCX also supports 200 cryptocurrencies. But, an exchange like Zebpay can act as the fastest and most secure terminal for crypto trading. The low fees of these exchanges, especially by making free deposits and withdrawals, is also worth considering.
With over 900,000 users, WazirX is undoubtedly the fastest-growing cryptocurrency exchange in the country. WazirX is also one of the safest and reliable exchange apps for Indian investors. It allows Indians to buy, sell and store digital assets such as Ripple, Bitcoin, Tron, Ethereum, and over 100 other cryptocurrencies, driving the country’s adoption of the crypto economy. Hence, one can start investing in any of the above mentioned exchanges.
Which Is the Best Exchange for Cryptocurrency in India?
WazirX and CoinDCX are considered to be the best exchanges for crypto assets in the Indian market.
Which Crypto Exchange Has the Lowest Fees in India?
CoinDCX charges the lowest crypto trading fees in the Indian trading diaspora.
Which Is the Safest Crypto Exchange in India?
WazirX is hailed as the safest crypto exchange platform in India. It uses advanced blockchain technology for protecting transactional data. Multiple data-encrypted layers also protect BTC transactions on WazirX. These security measures make WazirX a safe exchange for Indian crypto users. The crypto trading platform is also backed by top investors and exchanges from around the world.
Which Crypto Exchanges in India Have the Most Coins?
WazirX has become the popular cryptocurrency exchange in the country. It has gained millions of dollars worth of crypto exchanges during the pandemic. Indian retail investors are buying digital currencies actively from WazirX.