The number of crypto exchanges in India has been increasing, as the crypto space is getting more and more recognition among the citizens. Due to regulatory strictness in the country, several popular and global exchanges are unable to extend their services. However, there are numerous outstanding crypto exchanges based in India that enable the crypto enthusiasts to not miss out on what the crypto space has to offer.
If you are a resident of India and want to start buying or trading crypto then you first need to know about the various platforms that can be suitable options for you to consider. Since there is no shortage of exchanges, it is crucial that you carefully take a look at the features offered by each available exchange.
Having such information will make it easier for you to identify the best crypto exchange in India. Here are some of the popular platforms in the country.
Crypto Exchanges in India Include BuyUCoin
BuyUCoin is a well-known crypto exchange and is particularly popular among the new generation. It offers a user-friendly interface and caters the needs of approximately 1 million registered users.
It also supports a high-end mobile application that is available for iOS and Android users alike. There are several benefits and a few drawbacks of the exchange that you should know about before you decide to use it.
Benefits:
- Buying and selling crypto assets with INR
- Free BTC on sign-up
- Limit orders with charts
- No fee for KYC verification, deposits or OTC wholesale trading
- Owns its NFT marketplace
- Supports OTC wholesale trading, spot trading and futures trading
- Supports over 130 crypto pairs
Drawbacks:
- Lacks good customer support
- Limited to Indian investors
- No support for staking or margin trading
- Only supports one fiat currency, INR
CoinDCX
CoinDCX can be the best crypto exchange in India as it is known to prioritize the security of the users above all else. It is an outstanding exchange for advanced traders and has one of the best and transparent fee structures.
Here are the pros and cons of the platform, highlighting its significance among other crypto exchanges in India.
Benefits:
- Market maker and taker fee is 0.2%
- Provides impressive educational content for beginners
- Provides profit and loss statements
- Supports futures and margin trading
- Supports lending, staking and systematic investment plans
- Supports more than 340 digital assets
Drawbacks:
- Time-consuming process to open account
- Only supports INR
CoinSwitch Kuber
One of the top crypto exchanges in India for new investors and traders is CoinSwitch Kuber. This platform offers some of the best features to the users that make it stand out among other crypto platforms in the country.
The benefits offered also come with drawbacks, both of which are mentioned below.
Benefits:
- Charges zero trading fee
- Educates users about crypto, blockchain and NFTs
- Extensive educational material available
- Launched crypto rupee and benchmark index
- Minimum investment can be INR 100
- Supports over 80 digital assets
- Uses leading-edge security protocols
Drawbacks:
- Does not support staking feature
- Does not support margin trading
- No free trial or demonstration available
UnoCoin
UnoCoin is quite possibly the best crypto exchange in India, as it is one of the oldest and leading platforms available. It is an impressive exchange that allows the users to buy, sell or store the flagship crypto asset.
Some of its high-end benefits and a few drawbacks are mentioned below.
Benefits:
- A low fee of 0.5% to purchase or sell BTC
- Facilitates over 2 million registered users
- Gold Member accounts with lower fee and higher buying and selling limits
- Launched first-of-its-kind systematic buying plans (SBP) for BTC and ETH
- Minimum deposit amount is INR 1,000
- Supports Crypto Basket feature
- Supports lending related to OTC (over-the-counter) trade
- Supports more than 80 cryptocurrencies
- Supports several payment methods such as NEFT, IMPS and RTGS
- Users get free BTC on sign-up
Drawbacks:
- High transaction fee
- Live chatbot options are limited
- Time-consuming verification process
- Unavailability of helpful content for beginners
WazirX
WazirX is one of the most popular crypto exchanges in India, thanks to the fact that it is supported by the world-renowned Binance global. This is one of the largest and fastest growing platforms in the world with over 6 million registered users.
This exchange offers a user-friendly interface and advanced trading charts that are supported by window and web apps, as well as Android and iOS.
Benefits:
- Has its crypto assets WRX, which can be exchanged for other assets
- High-end security systems
- Offers competitive trading fees
- P2P transactions supported
- Supports over 450 tradable digital assets
- Users can invest in USD, BTC and INR
- Variety of educational material available
Drawbacks:
- Does not support margin trading or staking
- Big trading commission charged
- Lacks insurance fund
Conclusion!
There are several crypto exchanges in India that offer some of the best features. However, as a new crypto enthusiast you need to be sure that you make an informed decision. To choose the right exchange, you should know about the options mentioned above.