After the order of the Supreme Court declared in the favor of cryptocurrency, India saw a boom in investment. These investments came from traders and buyers who wanted to try their luck in the cryptocurrency market. This boom not only brought several top crypto exchanges in India, and also led to the development of multiple domestic cryptocurrency exchange platforms. Also, to cater to the need of Indian population, .
I have drafted this article to assist investors and buyers in choosing the best platform for all their cryptocurrency trades. Here is a curated list of top crypto exchanges in India.
Paxful is a peer-to-peer marketplace that only trades in bitcoins. Although this may turn out to be a liability for its users, since many other altcoins are gaining popularity in the crypto community. It secures its users’ transactions by holding their Bitcoins in escrow until the transaction is complete. The platform has a system of trust factors that help other traders identify reliable sellers. The platform is useless for investors who wish to diversify their investments in other cryptocurrencies. The first five transactions are free for Paxful customers. In addition, the platform charges a fee of one percent of every transaction, whichever is greater.
Unocoin is one of the oldest domestic cryptocurrency trading platforms (founded in 2013).. Specifically, it caters to citizens of the Indian subcontinent. In anticipation of the Supreme Court’s decision to overturn the ban on cryptocurrency trading, the platform was created. The Indian Reserve Bank had attacked it due to this and many financial institutions shunned it too. The platform charges a fee of 0.7 percent on every transaction.
In order to protect the investments of its members, Unocoin stores all cryptocurrencies in multiple addresses.Addresses for all these files are stored on an offline computer that is never logged onto the internet. It only supports Bitcoin, Ethereum, and Tether as cryptocurrencies. Thus, its users are limited in the cryptocurrency options they can choose from, and the possibilities of expansion are reduced. Additionally, the platform created an app that provides users with more accessibility.We offer exclusive newsletters to subscribers. Subscribe to check out our popular newsletters. It is one of the Top Crypto Exchanges in India.
Zebpay is one of the leading domestic players in the field of online cryptocurrency exchanges. Platform development took place in 2015. Due to the RBI’s ban on cryptocurrency trading, the company had to shut down its operations, but reopened after the Supreme Court ruled against it.. As of today, Zebpay serves more than 3 million users and has developed a large clientele over the years.
Zebpay has a well-defined fee structure, divided into 3 parts. If the order isn’t a match, the Maker fee is 0.15 percent. It charges 0.25 percent for Taker fees, and 0.10 percent for Intraday fees on every transaction.. Net banking transactions are also subject to a 1.75 percent commission. Moreover, it offers a clutter-free and easy-to-use interface that can be operated easily even by newbies unfamiliar with the concept of crypto trading. Platforms adhere to high levels of security such as storing coins in cold wallets. Additionally, Omnitrixx has its own security protocol system and firewalls.
Giottus is another domestic cryptocurrency that provides high processing speed and zero downtime to its users. Platforms like this are internationally recognized for the speed and stability with which they can handle as many as fifty thousand transactions per second. This is also one of the few platforms in India and possibly the only one that uses a stop-loss methodology, allowing users to automatically cut losses and boost profits when necessary.. The company only trades in Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash despite creating an excellent platform.Despite the fact that they are crypto giants, this limits both their potential and the market potential of their platform. Transaction fees on the platform are reasonable at 0.25 percent for buy orders and 0.15 percent for sell orders.
With Coinswitch, users can choose from a wide variety of cryptocurrencies. Over 100+ cryptocurrencies are hosted on the platform, which makes it a relatively easy platform for investors to use. It charges a transaction fee of 0.49 percent, and the exchange rate varies according to the exchange medium used. Moreover, Coinswitch Kuber launched another platform version, which is comparatively a more user-friendly platform and has apps on both the Apple and Android app stores. Transactions can also be conducted using several fiat currencies and credit/debit cards.
The team behind Colodax created the platform CrypDates in 2017. TCX aims to provide rapid trade execution and transaction speeds for its users. The company uses cold storage and wallets throughout the country to safeguard its users’ assets. By utilizing an automated monitoring platform, the platform is renowned for providing extremely fast deposits and withdrawals. Each cryptocurrency that the platform deals with has a different fee structure for transactions. Depending on the trading volume of the user on a 30-day basis, the platform also has different fee structures. Additionally, they launched an app for mobile devices to make their products more accessible.
BitBNS, developed by IIT alumni who are also crypto enthusiasts. December 2017 marked the release of the platform. Additionally, the platform also offers peer-to-peer transactions and allows users to lend or borrow assets in order to increase their chances of gaining additional profit. Platform users have been able to minimize their losses on the platform over time through stop-limit orders. Since the platform deals with a wide range of cryptocurrencies, its users can select from a wide array of cryptocurrencies without having to change platforms. The transaction fees that BitBNS charges depend on the 30-day trade volume and the BNS balance in the wallet. According to these factors, there are 11 different levels of assessment fee, with rates ranging from 0.03 to 0.25 percent.
When it comes to domestic cryptocurrency exchange markets, CoinDCX is considered one of the biggest players when it comes to users and safety. On a single platform, users can access more than 200 cryptocurrencies. Additionally, the platform provides its users with market leverage, price conversions, attractive interest rates on lending, and unlimited trading with a near-limitless order book to assist them with cryptocurrency trading. CoinDCX has a detailed fee structure that is based upon the type of cryptocurrency and the ‘maker’ and ‘taker’ charges of the user. The platform also levies a fee when you conduct a cross-platform trade.
WazirX, considered an underdog champion in the field of domestic cryptocurrency exchange platforms. The platform came in 2017 and soon gained huge popularity among investors and users. It conducts regular security audits to ensure the safety of its user’s investments and keep the platform safe and secure. The platform also provides its users with a peer-to-peer transaction ability and maintains a system that is capable of handling millions of transactions and can scale up the infrastructure to meet the rising demands. The fee structure is minimum and is usually between 0.1 percent to 0.2 percent. WazirX is also available on 5 different platforms, thus ensuring that users on every domain are capable of accessing their exchange.
BuyUCoin is the brainchild of Atulya Bhatt, Shivam Thakral, and Devesh Aggarwal and came into existence in June 2016. The platform quickly became an industry leader in the field of domestic cryptocurrency exchange markets. It was one of the top crypto exchanges in india that introduced the peer-to-peer transaction model. Also, it provides its users with multiple cryptocurrencies to choose and trade with.
BuyUCoin charge a 0 percent fee for their OTC desk while the transaction fees which vary according to the cryptocurrency. Another notable feature of the platform is that it doesn’t charge any money for INR withdrawal from the user’s wallet.
Here the list of top crypto exchanges in India ends. Pick your favorite one and start your crypto trading.