Table of Contents
Choosing a Crypto exchange is often the initial step for investors that they take for exploring the world of Cryptos. While there are numerous methods to trade Cryptos, centralized exchanges offer a comparatively simple method of converting money into coins and tokens.
There are various exchanges to pick from, some with a more established history than others. Investors should consider trading fees, Crypto variety, advanced trading options, and customer support offerings when comparing exchanges. We have made a list of the top Crypto exchanges in India to assist you in making the right choice.
Let’s check them out!
#1 WazirX
WazirX is a popular cryptocurrency exchange platform in India that was founded in 2017. The platform allows users to buy, sell and trade various digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, and many others. One of the unique features of WazirX is its ability to facilitate peer-to-peer transactions, enabling users to buy and sell cryptocurrencies directly with each other. WazirX has also developed its own token, WRX, which can be used to pay for trading fees on the platform, and also provides discounts to users who hold the token. WazirX is known for its user-friendly interface and high-speed transaction processing, making it a popular choice for cryptocurrency traders in India.
In addition to its core trading platform, WazirX also offers a number of additional features, including a mobile app, staking, and decentralized exchange (DEX) that allows users to trade directly on the blockchain. The platform also offers a number of security features to protect user funds, including two-factor authentication and cold storage of funds. WazirX has quickly become one of India’s most popular cryptocurrency exchanges and has attracted a large user base due to its ease of use and wide range of features.
#2 CoinDCX
Launched in 2018, CoinDCX is another popular Crypto exchange where users can trade over a hundred cryptocurrencies on the platform. The organization is also India’s first Crypto unicorn. The platform offers spot and margin trading and multiple features like trading API, an easy-to-navigate mobile app, and a staking program. The platform is known for its advanced trading tools and charts, making it a popular choice for experienced cryptocurrency traders in India.
#3 BitBns
Launched in 2017, BitBns is one of the popular Crypto exchanges in India. Having almost 400 Cryptos listed on the platform, users can trade a wide range of Cryptos, including Bitcoin, Ethereum, Litecoin, and many more. The platform has more than 40 lacs registered users. It also offers extensive educational content about the Crypto space via multiple research reports and BitBns Academy. Along with providing a seamless user interface and good customer support, BitBns stands third on the list of best Crypto exchanges in 2023.
#4 Zebpay
Launched in 2014, Zebpay is a well-known Crypto exchange in India with almost 50 lacs registered users and supports more than 100 coins. Zebpay is popular among Crypto investors for earning good interest on their idle Crypto holdings. It also provides a set return of 4% for lending Crypto.
With a vibrant leadership team, no-fee trading on selected pairs, an improved focus on security and innovation, and a passive income and borrowing program, Zebpay envisions itself as the world’s most revolutionary blockchain service firm.
#5 Unocoin
Launched in 2013, Unocoin is one of the oldest Crypto exchanges in India for buying, selling, and trading 80+ Cryptos. The exchange is also known for being India’s largest BTC-INR trading platform. On signing up on the platform, users get free Bitcoins and are eligible to get 15% back in trading commissions when they sign up. They also strongly focus on providing innovative and revolutionary products around the Bitcoin ecosystem. For example, they have developed the world’s simplest Bitcoin POS for offline merchants and have launched Systematic Investment Planning (SIP) for Bitcoin.
Bottom line
Undoubtedly, WazirX is India’s top Crypto exchange with the highest trading volume and the largest user base. What are you waiting for? Get started on your crypto journey with WazirX for the ultimate crypto trading experience.
Frequently Asked Questions
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
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.
How Many Cryptocurrencies Are There?
There are over 5000 other digital currencies available on the internet in addition to Bitcoins. The only problem is that they haven't gotten the users' attention. Besides Bitcoins, a few other digital currencies have gained popularity among users. It's been more than ten years since Bitcoins were first released, and now they've achieved new heights thanks to their phenomenal success.
Are Cryptocurrencies A Good Investment?
Cryptocurrency has the potential to make you extremely wealthy, and the potential to cause you to lose your money. Crypto assets, like any other investment, come with many risks and potential rewards. Fundamentally, cryptocurrency is an excellent investment, particularly if you want to gain direct exposure to the demand for digital currency.
Is crypto legal?
Crypto is legal in most countries, including India. While nations like the U.S. and many in Europe have regulatory frameworks, others like China have strict bans.
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.
Is Ethereum Safe To Invest?
The Bitcoin market is unquestionably more volatile than the stock market. This may not be the market for you if you are incredibly risk-averse. Ethereum, on the other hand, may be a terrific investment for you if you're a diamond-handed investor who won't lose sight of short-term losses. Ethereum is a relatively safe investment as it is also based on blockchain.
Who Invented Cryptocurrency?
Satoshi Nakamoto invented cryptocurrencies and the technology that makes them function in 2009. The presumed pseudonymous individual or persons who invented Bitcoin used this identity. In addition, Nakamoto created the first blockchain database. Even though many people have claimed to be Satoshi Nakamoto, the person's identity remains unknown.
What Is Virtual Currency?
Virtual currency is a type of uncontrolled digital currency that can only be used online. It is exclusively stored and transacted using designated software, mobile or computer applications, or unique digital wallets, and all transactions are conducted through secure, dedicated networks. Because digital currency is just currency issued by a bank in digital form, virtual currency is not the same as a digital currency. Virtual currency, unlike ordinary money, is based on a trust structure and cannot be issued by a central bank or other banking regulatory organization.
Is Cryptocurrency Banned In India?
No, cryptocurrency is not banned in India. India has seen its ups and downs in the crypto sector concerning its legal status. The Reserve Bank of India (RBI) issued a circular in April 2018 advising all organizations under its jurisdiction not to trade in virtual currencies or provide services to assist anyone in dealing with or settling them. A government committee proposed outlawing all private cryptocurrencies in mid-2019, with up to ten years in prison and severe penalties for anyone dealing in digital currency. The Supreme Court overruled the RBI's circular in March 2020, allowing banks to undertake cryptocurrency transactions from dealers and exchanges.
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.
