Post the spectacular 2021; cryptocurrency trading is steadily growing mainstream among Indian traders. No wonder India ranks second in terms of crypto adoption and has the highest number of crypto owners in the world. Beyond the speculative bets, cryptocurrencies are gaining mass traction as viable long-term investments, which besides providing handsome returns, can act as a hedge in your investment portfolio. NFTs, Defi, metaverse, gaming, and web3 are the new buzzwords in the digital world, and the tokens built around them are gaining popularity. Trading cryptocurrencies is most convenient when done via an app.
For any Indian trader, choosing the best app to buy cryptocurrency in India in 2022 is the first step to starting their crypto trading journey. Well, we have got you sorted!
The WazirX app is India’s most trusted and secure cryptocurrency exchange app, with over 11 million users. The app is available on Google Play, macOS, Windows, and Apple App Store. With over 10 million downloads, the WazirX app is the most popular app for traders in India.
There’s a lot that makes WazirX app the best app for cryptocurrency trading in India in 2022:
Extensive Crypto Trading Pairs on Offer: WazirX app offers more than 250 cryptocurrencies, including BTC, ETH, BCH, USDT, DOGE, ADA, SHIB, LTC, SOL, USDC, etc., and over 450+ crypto trading pairs for traders to trade-in.
Multiple channels for making Deposits: The app allows users to make INR deposits in multiple ways, including UPI, RTGS, IMPS, bank transfer, and net banking. Users can employ any method to deposit funds in their accounts and start trading in cryptos via the app. The traders can deposit and withdraw INR funds instantly, 24/7.
Simple and Intuitive Interface: The WazirX app has a simple and intuitive interface that allows beginners to navigate crypto trading without friction. The app offers real-time open order books, stop limit, TradingView charts, and trade history for you to trade and invest in some of the world’s best-performing digital assets. These features make WazirX one of the best cryptocurrency apps for beginners in 2022.
Security: Since you would be transacting all your trades via the app, the trading app must be secure. WazirX app, besides the 2-factor authentication, offers in-app passcode for secured crypto investment transactions. The WazirX team uses the best industry practices to offer its users best-in-class security. The WazirX team is committed to making WazirX India’s most secure exchange app. In order to keep the security mechanisms robust and fool-proof, WazirX invests in regular security audits.
Easy Onboarding: The app offers a hassle-free onboarding experience to beginners and seasoned investors. With a few easy steps, traders can register on the app and get their KYC verified in just a few hours. The platform uses top-of-the-line identity verification systems to process the KYC quickly while ensuring the right KYC protocol.
Low Costs and Quick Transactions: With millions of users on board, the platform offers deep liquidity and low latency to all its users. WazirX can handle millions of transactions. The infrastructure is designed to scale up within a few seconds to match surging demand. The platform offers one of the lowest fees in India and can be called one of the best cryptocurrency trading apps for beginners in 2022. It also offers one of the lowest withdrawal fees in India, starting from zero.
Highly Liquid: WazirX app has the world’s first auto-matching P2P crypto engine with high liquidity. Both first-time investors and professional traders trust the app. The platform has the highest liquidity in the INR market in India.
About WazirX
WazirX has become India’s most trusted Bitcoin and cryptocurrency exchange, built by a team of hardcore traders and passionate blockchain believers. The exchange is a part of the Binance Group, the world’s largest crypto exchange, serving users in 180 countries. The exchange started in 2018 and since then has seen a steep rise in the number of users. The exchange witnesses trading volumes of $5.4 billion per month and has been growing at an exponential rate. The exchange has over 11 million users and can be accessed via several platforms, including iOS, Android, and desktop.
If you are a new trader looking for the best cryptocurrency app for beginners in 2022, WazirX can definitely be your go-to option. You can trade like a pro on the best app for cryptocurrency trading, in India, in 2022, in hundreds of cryptocurrencies, and enjoy the fastest and most seamless user experience. Happy Trading!
Frequently Asked Questions
Is Cryptocurrency Legal In India?
In India, cryptocurrencies are legal; anyone can purchase, sell, and trade cryptocurrencies. They are currently unregulated; India does not have a regulatory framework in place to regulate its functioning. According to the Ministry of Corporate Affairs (MCA), companies must now declare their crypto trading/investments during the financial year, according to the Ministry of Corporate Affairs (MCA). Cryptocurrency transactions have been taxable in India when people receiving such gains are Indian tax residents or where the crypto is considered to be domiciled in India
How Cryptocurrency Works?
Cryptocurrencies use cryptography technology to keep transactions and their units (tokens) secure. Cryptocurrency works via a technology called the blockchain. A blockchain is a decentralized technology that handles and records transactions across numerous computers. The security of this technology is part of its value.
How To Invest In Cryptocurrency Stocks?
Cryptocurrency can be purchased in two ways: through mining or exchanges. The process of confirming and adding transactions to the blockchain public ledger is known as cryptocurrency mining. Cryptocurrency exchanges are another option. Exchanges make money by charging transaction fees, but there are alternative platforms where you may communicate directly with other cryptocurrency traders.
Can I Invest In Cryptocurrency?
Yes, with exchanges like WazirX, you may invest in cryptocurrency in India. To begin, go to the WazirX website and register. After that, you will receive a verification email. The link received by verification mail will only be available for a few seconds, so make sure you click it as quickly as possible. This will successfully verify your email address. The following step is to set up security, so choose the best solution for you. After you've set up the security, you'll be given the option of continuing with or without completing the KYC process.
What Are The Best Cryptocurrencies To Invest In?
The best cryptocurrencies to invest in would be the ones you study and analyze in detail. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and many altcoins such as Tron, Ripple, Litecoin, etc.
Is Crypto Legal In India?
Cryptocurrencies are legal in India, and anyone can purchase, sell, and exchange them. It is currently uncontrolled, as India lacks a regulatory structure to oversee its operations. Per the Ministry of Corporate Affairs, companies must now record their crypto trading/investments within the financial year. In cases where a person receiving the gains is an Indian tax resident, or the cryptocurrency is regarded as domiciled in India, cryptocurrency transactions have been taxable in India
Are Cryptocurrencies Legal In India?
In India, cryptocurrency is legal, and anyone can buy, sell, and trade it. Because India lacks a regulatory system to regulate its operations, it is presently uncontrolled. According to the Ministry of Corporate Affairs, companies must now document their crypto trading/investments inside the financial year.
Is Bitcoin And Cryptocurrency The Same Thing?
Bitcoin is a cryptocurrency that was designed to facilitate cross-border transactions, eliminate government control over transactions, and streamline the entire process without third-party intermediaries. The absence of intermediaries has resulted in a significant reduction in transaction costs. Satoshi Nakamoto, the creator of Bitcoin, created the first cryptocurrency in 2008. It began as open-source software for money transfers. Since then, plenty of cryptocurrencies have emerged, with some focusing on specific fields.
What Is The Meaning Of Crypto?
A cryptocurrency is a digital currency that is secured by the process of cryptography, making counterfeiting and double-spending almost impossible to happen. Blockchain technology is used to produce cryptocurrencies ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a centralized authority does not issue them.
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
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.
