Best Bitcoin Trading Platform in India 2023: Why WazirX is the Best

By January 26, 2023February 6th, 20234 minute read
best bitcoin trading platform in India

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.

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#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!

How To Create Bitcoin Account?

Firstly, Go to the WazirX website and sign up. Then, a verification mail will be sent to you. The link sent via verification mail would be available only for a few seconds so make sure you click on the link sent to you as soon as possible, and it will verify your email address successfully. The next step is to set up security, so select the most suitable option for you. After you have set up the security, you will get a choice to either proceed further with or without completing the KYC procedure. After that, you will be directed to the Funds and Transfer page, where you could start depositing Bitcoins to your wallet. You can also deposit INR and then use it to buy Bitcoin for your WazirX Bitcoin wallet.

What Type Of Currency Is Bitcoin?

Bitcoin is a type of digital currency or cryptocurrency. In January 2009, Bitcoin was established. It's based on Satoshi Nakamoto's ideas, which he laid out in a whitepaper. The name of the individual or people who invented the technology remains unknown.

Who Created Bitcoin?

Bitcoin is the first application of the concept of "cryptocurrency," first articulated in 1998 on the cypherpunks mailing list by Wei Dai, who proposed a new form of money that relies on cryptography rather than a central authority to manage its creation and transactions. Satoshi Nakamoto published the initial Bitcoin specification and proof of concept on the cryptography mailing list in 2009. Satoshi exited the project in late 2010, with little information about himself available. Since then, the community has evolved, with numerous people working on Bitcoin. Satoshi's anonymity has sparked unfounded fears, many of which may be traced back to a misunderstanding of Bitcoin's open-source nature.

What Are The Chances Of Bitcoin Crashing?

Two Yale University economists (Yukun Liu and Aleh Tsyvinski) produced research titled "Risks and Returns of Cryptocurrency" in 2018. They looked at the possibility of Bitcoin crashing to zero in a single day. The authors discovered that the chances of an undefined tragedy crashing Bitcoin to zero ranged from 0 percent to 1.3 percent and was around 0.4 percent at the time of publishing, using Bitcoin's history returns to determine its risk-neutral disaster probability. Others claim that because Bitcoin has no intrinsic value, it will inevitably crash to zero. On the other hand, Bitcoin advocates argue that the currency is backed by customer confidence and mathematics.

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 suppl

How Can I Get Bitcoin?

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. Following that, you'll be sent to the Funds & Transfers section, where you can begin depositing Bitcoins into your wallet. You may also use INR to fund your WazirX Bitcoin wallet and then use it to purchase Bitcoin.

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.

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."

Is Bitcoin Cash A Good Investment?

Bitcoin Cash is a hard fork of Bitcoin formed in 2017 to address Bitcoin's scalability and challenges. Bitcoin Cash seeks to make global transactions faster, cheaper, and more secure. Bitcoin Cash is now accepted by thousands of online and offline businesses all over the world. Studied correctly, Bitcoin Cash may be an investment worthy of consideration.

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.

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.
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