Table of Contents
2022 experienced a major Crypto winter; prices of various Cryptos plummeted, one of the world’s largest exchanges saw a major downfall, and multiple projects died. On the other hand, some optimism lingered in the Crypto market. For instance, the Ethereum Merge took place, various organizations have been working towards integrating Web3 into our lives, and all of this is happening at a mass level.
Despite these situations, people worldwide have stood unitedly and have been enthusiastic about Crypto investments. Talking about India, it stands in the fourth position when it comes to Crypto adoption globally.
With over ten crore users, Crypto trading has become a rage among Indians, especially Gen Z and millennials. The first step in your Crypto trading journey is choosing the right exchange, as you would only be trading via the exchange. But a major problem for many Crypto owners is the confusion regarding which one’s the best Crypto trading platform in India.
How to choose the Best Crypto Trading Platform in 2023?
Four important factors determine the best platform for Crypto trading in India.
#1 Quick KYC
An important factor that traders consider while choosing the best Crypto exchange is quick KYC (Know Your Customer). Almost all Crypto exchanges require their users to get their KYC verified. While many trading platforms take up a lot of time to complete KYC, some offer quick registration. You will want to go with the second option unless you like standing in long queues.
#2 Liquidity
The other major factor worth considering is liquidity. Any good Crypto trading platform with higher liquidity should allow traders to complete a transaction quickly since it will be hosting many other traders.
#3 Fees
Since trading platforms charge a fee on every trade, you must look for platforms that don’t have a huge fee structure. Unfortunately, some platforms charge fees at every point, be it buying and selling or depositing and withdrawing. This will stop you from making any considerable profits. Hence, you are better off picking up a Crypto trading platform that charges a flat amount or percentage on overall trades.
#4 A Good Mobile App For Trading on the Go
A good trading platform must have a fully-functional mobile application that offers many important features and perks, such as detailed charts, live-market status, quick buy/sell options, etc. Since many people trade while on the move, it’s not always possible to trade via the desktop site. Therefore, mobile apps are an important factor when looking for the best Crypto trading platform in 2023.
What Makes WazirX the Best Platform for Crypto Trading in India?
Since many people are new to Crypto trading and mostly know only about Bitcoin, they need to choose a Bitcoin trading platform that is the best for them and has best-in-class UI-UX. That’s why we have gone the extra mile and picked the best Crypto trading platform in 2023 for you.
WazirX was founded in 2018 and has become the largest and most trusted Cryptocurrency exchange in India. In 2021 alone, the platform saw ten times user growth, taking its total user base to 10 million. In addition, WazirX recorded a total trade of over $38 billion in 2021.
While WazirX confers to all the four considerations mentioned above in choosing the best Crypto trading platform, here are some more exciting features that WazirX offers, making it the best platform for Crypto trading in India:
Easy UI
WazirX packs in a beginner-friendly and straightforward UI that anyone can easily operate. The smooth user interface allows both seasoned professionals and newbies to trade easily. In addition, the simple and efficient design, including powerful graphs and an intuitive mobile app, makes trading on WazirX a superfast experience.
Supports Multiple Platforms
WazirX offers a seamless and powerful trading experience across all platforms – on the web, Android & iOS mobile, Windows, and Mac apps.
Quick Transactions
As a trader, you can’t afford to slow down while trading Cryptos. WazirX offers lightning-fast transactions while handling more than a million transactions within seconds. Its system infrastructure can quickly scale up to meet surging demand.
Great Security
Security is hugely significant for any trading platform as it holds sensitive user data and transacts trades worth billions, and any external threat, such as a hack, can cause millions in losses. WazirX offers state-of-the-art security while investing in regular security audits to ensure a secure trading platform for the users.
A Large Number of Trading Pairs
WazirX offers more than 450 Crypto trading pairs on its platform. This is amongst the highest compared to any other trading platform in India.
We hope all these points are enough to give you a clear picture of what makes WazirX our pick for India’s best Crypto trading platform. So what are you waiting for? Create your account on WazirX and start trading today. Good Luck!
Happy Trading!
Frequently Asked Questions
How Many Bitcoins Will Ever Be Created?
The source code of Bitcoin stipulates that it must have a restricted and finite quantity. As a result, only 21 million Bitcoins will ever be generated. These Bitcoins are added to the Bitcoin supply at a predetermined rate of one block every ten minutes on average. The supply of Bitcoins will be depleted once miners have unlocked this number of Bitcoins. It's possible, however, that the protocol for Bitcoin will be altered to allow for a higher supply.
Is Bitcoin Legal In India?
In India, Bitcoin is not illegal. Because of cryptocurrency's rapid evolution, policymakers and regulators seemed to have recognized the chance to accept the new technology early. From the infamous 'RBI ban' in 2018 to reports of an impending bill banning cryptos in 2021 that has yet to develop, India has seen its fair share of ups and downs when it comes to Bitcoin regulation. Last year, the Supreme Court Of India approved the use of Bitcoin throughout the country. According to the Supreme Court, the existence of Bitcoin or any other cryptocurrency is unregulated but not unlawful.
How To Convert Bitcoin To Cash?
There are many ways of converting Bitcoin to cash, such as crypto exchanges, Bitcoin ATMs, Bitcoin Debit Cards, Peer to Peer Transactions. You can use cryptocurrency exchanges such as WazirX for this. Unlike typical ATMs, which allow you to withdraw money from your bank account, a Bitcoin ATM is a physical location where you may buy and sell Bitcoins using fiat currency. Several websites provide the option of selling Bitcoin in return for a prepaid debit card that may be used just like a standard debit card. You can sell Bitcoin for cash through a peer-to-peer platform in a faster and more anonymous manner.
How Bitcoin Mining Works?
Bitcoin mining is a crucial element of the blockchain ledger's upkeep and development and the act of bringing new Bitcoins into circulation. It's done with the help of cutting-edge computers that solve exceedingly challenging computational arithmetic problems. Auditor miners are rewarded for their work. They're in charge of ensuring that Bitcoin transactions go through smoothly and legitimately. This standard was established by Satoshi Nakamoto, the founder of Bitcoin, to keep Bitcoin users ethical. By confirming transactions, miners assist in avoiding the "double-spending issue."
How Many Bitcoins Are There?
There are 18,730,931.25 Bitcoins in circulation as of June 2021. The total number of Bitcoins that would ever be there is just 21 million. On average, 144 blocks are mined every day, with 6.25 Bitcoins per block. The average number of new Bitcoins mined every day is 900, calculated by multiplying 144 by 6.25.
How Does Bitcoin Technology Work?
The blockchain is the foundation of Bitcoin. It is a decentralized, distributed ledger that tracks the provenance of digital assets. The data on a blockchain can't be changed by design, making it a real disruptor in industries like payments, cybersecurity, and healthcare.
Is Bitcoin Mining Free?
Bitcoin mining isn't free, but it can be tried on a budget. Bitcoin mining is an essential part of the blockchain ledger's upkeep and development and the act of issuing new Bitcoins. It is accomplished by the use of cutting-edge computers that tackle complicated computational arithmetic problems. The effort of auditor miners is rewarded. They're in charge of ensuring that Bitcoin transactions go off without a fuss and that they're legal.
Can Bitcoin Be Converted To Real Money?
Crypto exchanges, Bitcoin ATMs, Bitcoin Debit Cards, and Peer Peer Transactions are all options for converting Bitcoin to cash. This can be accomplished by using Bitcoin exchanges such as WazirX. A Bitcoin ATM is a real place where you may purchase and sell Bitcoins with cash, unlike standard ATMs that allow you to withdraw money from your bank account. Many websites provide the option of purchasing Bitcoin in return for a prepaid debit card that works similarly to a standard debit card. Through a peer-to-peer marketplace, you may sell Bitcoin for cash faster and more privately.
How Much Is 1 Bitcoin Worth Today?
Check out the current price of Bitcoin on the WazirX exchange. Bitcoin's value is primarily determined by its supply and demand in the market. Other elements have an impact on its worth. Its intrinsic value can also be calculated by calculating the average marginal cost of producing a Bitcoin at any given time, based on the block reward, electricity price, mining hardware energy efficiency, and mining difficulty.
What Is Bitcoin Used For?
Bitcoin was created as a means of sending money over the internet. The digital currency was designed to be a non-centralized alternative payment system that could be used in the same way as traditional currencies. Bitcoin is being used by an increasing number of businesses and individuals. This includes establishments such as restaurants, apartments, and law firms.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
