Top 6 Crypto Exchange/trading platforms in India 2023
A cryptocurrency exchange, also known as a digital currency exchange, is a platform that allows users to buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, and many others. Crypto exchanges are essential to the cryptocurrency ecosystem as they provide a marketplace for buying and selling digital currencies.
Table of Contents
- Crypto exchange in India
- What is crypto Exchange ?
- List of the 6 Best Cryptocurrency Exchanges in India as of 2023
WAZIRX
COIN DCX
ZEBPAY
BITBNS
UNOCOIN
COIN SWITCH
Lets Start:
Crypto exchange in India
As a viable option for trading and investing in digital currencies, more Indians are now turning to these exchanges. A staggering 7.1% of India’s population, or about 97.5 million people, have already made cryptocurrency investments. Surprisingly, this number has been increasing quickly and doesn’t appear to be going down any time soon.
Data from the Bank for International Exchange research paper shows that India ranks third globally in terms of cryptocurrency exchange application downloads, according to data collected between August 2015 and June 2022. This astounding number represented 31.7 million downloads in India alone.
Notwithstanding the legislative ambiguity and confusion around cryptocurrency policies, India’s adoption rate of digital assets is nevertheless increasing quickly. In the Chainalysis 2022 Global Crypto Adoption Index, India came in at number four after Vietnam, the Philippines, and Ukraine. Although the government was skeptical of cryptocurrencies for a long time and even discussed outlawing them, this didn’t happen. Instead, the government declared its intention to impose a 30% tax on any gains made from bitcoin trading in February 2022. The Reserve Bank of India will start a blockchain-based pilot in the retail sector of the market in December 2022 as part of the Indian government’s investigation on the introduction of a central bank digital currency.
It is more important than ever to guarantee that investors in India receive the best return on their investment, given the high adoption rate and the relatively high taxes on cryptocurrencies. It is not surprising that Indian investors are searching for a platform with low fees but a wide range of features.
What is a crypto exchange?
A regular exchange is a physical marketplace where traders and investors engage in transactions involving various securities. On the other hand, a cryptocurrency exchange is an online platform that facilitates the buying and selling of digital currencies. The exchange acts as a mediator between buyers and sellers, allowing users to invest profitably in cryptocurrencies. When looking for a top cryptocurrency exchange in India, it’s crucial to weigh its advantages and drawbacks, with security being a top priority. Choosing the right cryptocurrency, reviews, and ratings can help simplify the process.
List of the 6 Best Cryptocurrency Exchanges in India as of 2023
WazirX
Wazirx is India’s largest peer-to-peer cryptocurrency exchange, founded in 2018, which enables users to buy and sell over 60 coins, including Bitcoin, Ethereum, and Ripple. It offers a user-friendly mobile app, high-security standards, and features such as margin trading and fiat-crypto trading pairs. However, its major drawback is its relatively high trading fee of 0.2% on all trades.
Pro’s
- A diverse selection of digital assets,
- A variety of features, including margin trading and trading pairings between fiat currencies and cryptocurrencies.
- The platform also provides a user-friendly mobile app for convenient portfolio management.
CoinDCX
CoinDCX is a Singapore-based centralized crypto exchange that was established in 2018. It provides access to over 440 coins and 1,140 trading pairs, making it one of the largest crypto exchanges in India. CoinDCX also offers margin trading, staking rewards, and spot trading services, as well as a mobile app for portfolio management. With a low trading fee of 0.04%, it is one of the most affordable exchanges in India.
Pro’s
- Low trading fees of just 0.04% on all trades,
- A wide selection of over 440 digital assets to choose from, and
- Various features such as spot trading, margin trading, and staking rewards.
ZebPay
ZebPay is a well-known cryptocurrency exchange in India that was established in 2014. It was the first exchange to provide users with zero fees on deposits and withdrawals, an easy-to-use trading interface, and other services. Users have access to over 150 digital assets, such as Bitcoin, Ethereum, Ripple, and Litecoin. ZebPay has a mobile app that makes managing portfolios on the go simple. However, ZebPay charges a 0.35% trading fee on all trades, making it one of the pricier exchanges in India.
Pro’s
- Variety of digital assets.
- A mobile app that is simple.
Bitbns
Bitbns is India’s first cryptocurrency exchange, founded in 2017, that offers features such as margin trading, zero fees on deposits and withdrawals, and an intuitive trading interface. It currently supports over 300+ coins and 150+ crypto pairs and has a mobile app for portfolio management. However, the platform’s major drawback is its relatively high trading fee of 0.2% on all trades.
Pro’s
- Bitbns offers a wide variety of over 300+ digital assets and
- It Provides features like margin trading and trading pairs between fiat money and cryptocurrencies.
Unocoin
UNOCOIN is India’s premier cryptocurrency exchange, offering users access to over 100 digital assets, spot trading services, and wallet management tools. Founded in 2013, Unocoin has established itself as one of the oldest, most trusted, and most widely used exchanges in the country. In addition to its extensive range of services, Unocoin is committed to educating users about cryptocurrency and has an active presence in India’s crypto community. While its trading fee is slightly higher than other exchanges at 0.25%, Unocoin’s reputation for reliability and security makes it a top choice for crypto traders in India.
Pro’s
- A diverse range of digital assets.
- Intuitive Android and iOS mobile applications.
CoinSwitch Kuber
CoinSwitch Kuber is a relatively new entrant in the Indian cryptocurrency exchange market, having been launched in 2020. It offers users a simple and user-friendly platform to buy, sell, and trade more than 100 cryptocurrencies. One of the unique features of CoinSwitch Kuber is its ability to provide real-time price comparison across multiple exchanges, allowing users to get the best possible rates. The platform also offers a mobile app for easy access to its services on the go. CoinSwitch Kuber charges a 0.4% trading fee on all trades.
Pro’s
- A large variety of digital assets
- Simple and user-friendly interface
- Instant trading
- Competitive Pricing
- Intuitive Mobile app for IOS and Android
It’s time to recreate the Magic!
Cryptocurrency exchanges in India have the ability to trade more currencies and have been an interesting option for people around. Ever since cryptocurrencies were accepted in India, the wide range of operations based on them has increased. So, it is your time to shift your gears toward a product that has the ability to turn anything into gold. Choose your developer and start your movement toward the crypto future.
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