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In the past few years, Cryptos have become insanely popular in India. As the Crypto space continues to flourish, the need for trustworthy and genuine Crypto exchange has become more crucial than ever. With so many Crypto firms launching every now and then, it can be difficult to choose the best Crypto exchange in India that’s perfect for you. So, to make things simple for you, we have curated a list of top Crypto exchanges in 2023 for you. Do check them out!
But, before we see the list of Cryptocurrency exchanges in India, you should check the following section to help you choose the best cryptocurrency exchange.
4 Factors to help you choose the Best Crypto Exchange
- The range of trading pairs each exchange provides: You can diversify your portfolios and take benefit of more trading opportunities by using the wide range of trading pairs.
- Fees taken by each exchange: Service costs and transaction fees are included in the fees that each exchange levies. Low fees can eventually save traders a lot of money.
- Security measures: This factor comprises multi-factor authentication, cold storage of cash, and encryption methods used by the Crypto exchange.
- User interface and user experience: A user-friendly interface can make using the platform and placing trades quick, effective, and easy.
Now, let’s check the top Crypto exchanges in India in 2023.
5 Best Crypto Exchanges in India
WazirX
WazirX is a popular Crypto exchange platform in India launched in 2017. The exchange allows users to buy, sell and trade various digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, etc. One of the outstanding features of WazirX is its ability to facilitate Peer-to-Peer (P2P) transactions, enabling users to buy and sell cryptocurrencies directly with each other. WazirX has also developed its 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.
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 features like trading API, an easy-to-navigate mobile app, and a staking program. The exchange is known for its advanced trading tools and charts, making it a popular choice for experienced cryptocurrency traders in India.
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.
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.
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.
Final thoughts
Without a doubt, WazirX is India’s best Crypto exchange, with the largest user base and the highest trading volume. Don’t wait any further; start your Crypto journey with WazirX for a smooth Crypto trading experience.
Frequently Asked Questions
Is Bitcoin A Good Investment For The Future?
Some investors are afraid of the risks or devastation, but others are very eager to pursue the possibility of profit from a Bitcoin investment. A Bitcoin investment is similar to stock investing, except it can be more volatile.
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.
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.
What Is Cryptocurrency?
A cryptocurrency is a digital currency secured by encryption, due to which chances of activities such as counterfeiting and double-spending taking place get close to impossible. Cryptocurrencies get created on blockchain technology ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are unique in that they do not get issued by any central authority. The term "cryptocurrency" comes from the encryption techniques used to keep digital currencies and the network safe.
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.
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.
How To Invest In Cryptocurrency?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is considered the procedure of verifying and adding transactions to the blockchain public ledger. Another option is via cryptocurrency exchanges. Exchanges generate money by collecting transaction fees, but there are alternative websites where you can interact directly with other users who want to trade cryptocurrencies.
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.
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
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.
