Best Cryptocurrency Exchanges in India
Moh Maya World does a breakdown of some of the top cryptocurrency exchanges in India.
Choosing a crypto exchange will play a big role in your experience with investing and trading digital currency. Despite the crypto regulations in India, investors have various options when it comes to choosing a brokerage for purchasing cryptos like Bitcoin, Ethereum, BNB and others.
All these options have their benefits, but some exchanges outshine the competition to provide investors with a superior experience. This guide will help you choose from the best exchange options available to Indians by comparing the top benefits of each.
Binance India
Binance is one of the most popular crypto exchanges globally and offers a good option for Indian crypto investors. With Binance, users can trade over 350 altcoins, including the native Binance Coin (BNB). Users can also earn money in various ways, including staking and earning interest on their crypto holdings. Binance also offers users a way to trade peer-to-peer, participate in margin trading, and execute advanced trading methods like futures contracts.
Binance users in India can:
WazirX India
WazirX is a Binance-owned Indian crypto exchange with headquarters in Mumbai and is one of the country’s largest crypto exchanges. WazirX has a native cryptocurrency utility token (WRX). Like Binance, they offer a P2P trading engine that automatically matches users to trade amongst each other. Their exchange provides an intuitive interface across desktop and mobile devices, and they claim to have a fast signup and verification process.
WazirX users in India can:
- Invest safely with an Indian-based exchange;
- Make P2P trades;
- Make fast transactions from anywhere;
- Enjoy Indian customer support with INR deposits, account setup, and more;
- Purchase from over 140 coins, including the native WRX token.
CoinDCX
CoinDCX is recognized as the most versatile trading app for crypto assets in the country. It lets you buy or sell in up to 200+ trade coins. Add to that, the whole setup process has been simplified using a one-time password (OTP) on your registered mobile number and email ID.
If you go to the Settings tab on the app, you can learn a lot about investing in cryptocurrencies and how they operate in the virtual world. CoinDCX charges a maker and a taker fee of 0.1 percent, with a minimum withdrawal limit set at Rs 1,000 without any fees charged on it. This cryptocurrency exchange app only supports INR to let you trade in cryptos. You can deposit money into the account using NEFT, IMPS, RTGS, UPI, or even a simple bank transfer.
CoinDCX has an extensive set of security measures in place and that’s a good thing. First up, users need to verify themselves using the Google authenticate app. Because without this, you cannot start trading on the app. You also need to set up a withdrawal password that needs to be confirmed for every withdrawal you make.
Coinbase India
Coinbase is an international exchange platform that is based in the U.S. The platform has been praised for its intuitive interface and pleasant user experience. Coinbase is the second-largest platform in the world by trading volume (following Binance). It has been adding upgrades to features like customer support to keep up with increased demand worldwide. The platform has never had a major security breach, which makes it a good option for investors who don’t want to worry about the funds they have stored on exchange wallets.
Indian investors can open a Coinbase or Coinbase Pro account to take advantage of advanced trading options. However, Coinbase has much fewer altcoin offerings than Binance, with only a little over 50 coins to choose from.
Coinbase users in India can:
- Safely purchase and trade digital assets after depositing INR;
- Earn crypto rewards by watching educational videos;
- Take part in staking coins;
- Store coins in cold storage with Coinbase vault;
- Rest easier with multiple security features and authentication;
- Enjoy an easy-to-use platform and mobile app.
CoinSwitch Kuber
CoinSwitch Kuber was an ever-present ad feature during the IPL recently. This platform has got funding from popular investors and VC firms like Sequoia and more. It claims to let you trade in up to 100+ cryptos and promises the best trading rates in the market. Use your mobile number to create an account for trading on the app. But you cannot start trading before completing the KYC process, obviously.
You get a four-digit pin code option to secure the account on the app. CoinSwitch Kuber says that the first 100,000 users on the platform won’t have to pay the trading fee for 100 days. The simple user interface and aggressive marketing have brought people on board with CoinSwitch Kuber. The best crypto exchange app offers deposits in INR via NEFT, bank transfer, and UPI. But the platform fails to share information about its security measures to keep the crypto assets secure. The overall service mechanism needs improvement and the details of trading are not detailed.
These were among the best crypto exchanges in India. You can check out more news about the other upcoming Cryptocurrency as well as best coin/token recommendations on our Facebook, Twitter.
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