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In this blog, we will take a look at some of the top crypto exchanges in India that are trusted by millions of users. After reading this article Indian citizens can join any of these trusted trading platforms and begin their trading journey.
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List of Best Crypto Exchanges in India in 2022
With the rise in Bitcoin and other cryptocurrencies’ popularity, more and more people are signing up on popular crypto exchanges to invest in this new market. Investing in the crypto space for the first time can be a bit complicated for new users. Where there is a lot of chatter about people making significant money in the crypto space, there is also frequent news about people falling for scams and taking heavy losses. That is why it is crucial for every new user to gather ample knowledge and do a good amount of research before investing in the crypto space.
The first step of investing in crypto is to choose a reliable exchange that is not only secure but also has a good trading volume. Cryptocurrencies have become quite popular in India in the past few years and a lot of Indian citizens are interested in investing in this market. There are also plenty of cryptocurrency exchanges in India and choosing the right one can be complicated at times.
In this blog, we have mentioned some of the top cryptocurrency exchanges in the country that are providing quality services to tons of users.
WazirX – Largest Crypto Exchange in India
WazirX is one of the most popular cryptocurrency exchanges in India and it has earned a name for itself for all the good reasons. It is a local Indian-based cryptocurrency exchange that has been promoting crypto trading in the country for a while now. WazirX not only hosts good trading volume, but it also supports the Indian rupee (INR) which users can use to buy WRX tokens or other crypto assets.
It is also one of the most secure crypto exchanges out there as it keeps 95% of its funds on cold wallets and has never experienced any major security breaches yet. The exchange also offers two-factor authentication login to its users that enhances the security of their accounts.
Just like any other reputable crypto exchange out there, WazirX also uses the KYC identity verification system. However, the process is much faster compared to other cryptocurrency exchanges, and you do not have to wait too long before your profile is verified.
The trading fee charged by WazirX is 0.2% for both market makers and takers. Users can also transfer funds to WazirX wallet with the help of NEFT, RTGS, UPI, and IMPS. All these features put WazirX among the best crypto exchanges in India in 2022.
Bybit – Safest Crypto Exchange
Bybit is not only among the top cryptocurrency exchanges in India, but it is also among the top crypto platforms in the world. It is an exchange that has been growing rapidly and is a favorite platform for many traders.
Bybit has a clean and user-friendly interface that makes it easier for novice and experienced parties to use. It also supports direct buying and selling of several cryptocurrencies which is a feature that new investors love to see. It also presents real-time data in front of its users. Despite the volatile nature of cryptocurrency markets, Bybit has a record uptime of 99.9% and is virtually never down. Just like WazirX, Bybit also keeps most of the funds in cold wallets for maximum security.
Initially, Bybit was popular for offering crypto derivatives and leverage trading but with the introduction of its spot market, it has become an all-around cryptocurrency exchange.
The trading fees charged by Bybit for spot trades are 0.1% for market takers and 0% for market makers. On the other hand, when it comes to leverage trading Bybit offers a –0.025% rebate to market makers and charges 0.075% to market takers for its perpetual inverse contracts. It is also one of the cheapest cryptocurrency platforms out there.
CoinDCX – Best Crypto Exchange in India with Low Fees
CoinDCX is another Indian-based cryptocurrency exchange that has gained a lot of popularity in the country. It is counted among the most versatile crypto exchanges in India as it offers 200+ altcoins. It is an excellent exchange for users who want to diversify their crypto portfolios.
Another great thing about CoinDCX is its sign-up process. You can set up your account with an OTP on your registered email or phone number. The exchange is user-friendly and is a fine option for new investors. It also has a learning section for beginners that explains how cryptocurrency works. This section is quite useful for new users and helps them catch up to speed.
The trading fees charged by CoinDCX are 0.1% for both the market makers and takers. The exchange is based in Mumbai and currently only supports INR. It also has a minimum withdrawal limit of Rs.1000. Users can deposit money into their CoinDCX account with the help of NEFT, RTGS, UPI, and IMPS. You can also deposit money with the help of a bank transfer.
The exchange is considered highly secure and it also uses Google Authenticator for verification. Users are also required to create a withdrawal password which adds an extra layer of security to the platform.
Unocoin – Trusted Crypto exchange in India
Unocoin is not only among the most popular crypto exchanges in India, but it is also one of the oldest in the country. The exchange has been around since 2013 and is truly a veteran in the Indian crypto market. The advanced exchange is popular for its wide range of cryptocurrencies and easy-to-navigate user interface. Unocoin has served over 1.45 million customers in the past and continues to grow.
The sign-up process for the platform is quite easy and users only need to complete the KYC process to start trading on the platform. The exchange also has strong security features and offers users biometric verification and passcode.
Where Unocoin lacks most is the exchange fees. It charges a 0.7% margin on buying and selling of assets which is plenty more than the above-mentioned cryptocurrency exchanges. However, after 60 days of usage, the fee percentage drops down to 0.5%.
Unocoin also supports NEFT, RTGS, UPI, and IMPS for deposits and does not charge an extra fee. However, credit and debit card users will have to pay a fee for these deposits depending on the bank they are using.
Overall, Unocoin is a trusted crypto exchange in India and is not a bad alternative for any of the above-mentioned platforms.
Nowadays, there are hundreds of crypto exchanges out there, and all of them come with different pros and cons. By choosing a popular crypto exchange trusted by large numbers of users, you can significantly minimize your risks and can get familiar with the crypto space better. These top exchanges in India have been around for quite a while and are a decent option for anyone looking to invest money in the crypto space.