Best Cryptocurrency Exchanges in India 2022–2023

4 min readDec 26, 2022

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The number of cryptocurrency exchanges in India has significantly increased as a result of cryptocurrencies’ growing popularity. Cryptocurrency exchanges only serve as a marketplace for buying, selling, and exchanging digital currencies for fiat money like the Indian rupee (INR) or the US dollar (USD).

How Does a Cryptocurrency Exchange Operate and What Is It?
An online trading platform known as a cryptocurrency exchange serves as a middleman between buyers and sellers of cryptocurrencies.
These services make it possible to trade cryptocurrencies for fiat and digital money. These exchanges enable users to deposit funds using procedures like direct bank transfers, online banking, or peer-to-peer (P2P), among others, and levy a commission or fee for each transaction carried out using its services.

Download the app of the exchange you have selected and create an account.
Fill up the necessary information like email id, name, and contact details.
After verifying the email, the user receives the mail on the same id for KYC details.
Verify the address on your email id and complete the KYC process.
Set a good-strength password
Never share any passwords of your app, wallet, or exchange as it is difficult to recover them.

Types of Cryptocurrency Exchanges Charges in India

In India, different cryptocurrency exchanges levy different charges and fees. Let’s have a look in more detail at what these charges are:

Joining Fee + Bonus

The majority of the cryptocurrency exchanges in India, such as WazirX, Zebpay, Bitbns, and Cryptoforce have completely waived the joining fee. However, there may be a very small amount of membership fee in the case of inactive accounts.

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Deposit Fee

This fee is charged when the user deposits money or coins to the crypto exchange to initiate the buying or selling. The deposit fee amount depends totally on how the user has transferred the money, whether through payment service providers, Mobikwik, a crypto wallet, UPI, Net banking or bank transfers.

Trading Charges

Trading charges are the most important part of the cryptocurrency exchange’s fee mechanism. Trading fees may be levied as a flat percentage of the amount of crypto that a trader buys or sells, or an exchange may charge according to the orders placed, such as makers and takers, which are charged differently. So before going further, it is crucial to understand- Maker and Taker fees.

A maker is a party that creates liquidity on the exchange by selling cryptocurrency

The taker is the party that takes it off the liquidity by buying the cryptocurrencies.

Both maker and taker pay a certain amount of fees for the transaction. However, makers generally pay less.

The trading charges vary across exchanges, ranging from almost 0% to 0.25% in most exchanges. However, it is to be noted that certain exchanges claim to charge the user zero fees, one must look carefully, that if they are charging in the form of spread — the difference between the rate of buying or selling the cryptocurrency. And, generally, this rate is higher as compared to the trading fee.

Withdrawal Fee

Some exchanges charge the user for the withdrawal of money into fiat. Withdrawing money happens when a user places a sell order on the exchange and then the funds reflect in his or her wallet. The user here can withdraw money fully or partially, into their registered bank account, for which he or she may be charged. The user also has the option of making a withdrawal in coins, which also has a cost attached.

About Cryptoforce

Cryptoforce is a peer-to-peer crypto trading platform connecting buyers with sellers. CryptoForce India aims to bring a professional, smooth, easy, and highly liquid Crypto platform to India delivering a superior user experience.

Why Choose Cryptoforce?
Cryptoforce offers you a complete end-to-end crypto trading solution with all tools and assistance for a secure trading experience

Disclaimer: Cryptocurrencies are volatile and investments in them are risky. We advise you to do thorough research before investing.