Top 5 Cryptocurrency exchanges in India
Spearheaded by the hype around Bitcoin and its unprecedented growth, the cryptocurrency has been one of the most followed financial revolution in India and globally. One of the major issues that one may face while dealing with cryptocurrency investment is the lack of knowledge of which exchange to opt for. We attempt checking out top 5 cryptocurrency exchanges in India in the following paragraphs.
Bitcoin was what brought a new concept called cryptocurrency. Launched at the backdrop of the economic slowdown in the 2007-08, Bitcoin launched itself as the parallel economy. Working on the concept of Blockchain technology, the trend has been quite popular and has been the reason for a wide range of cryptocurrencies. India is not an exception. Which cryptocurrency exchanges would you go for? We thought of compiling the top 5 cryptocurrency exchanges in India so as to help you make a learned decision.
Top 5 Cryptocurrency exchanges in India
A Cryptocurrency exchange is a platform that lets you buy bitcoins and other cryptocurrencies. You can buy them in exchange for the other assets you may have including the conventional fiat currencies and/or other digital currencies. These exchanges work with their own set of rules and regulations. Choosing your favourite exchange should be dependent upon your specific needs.
Coinex is one of the most popular cryptocurrency exchanges that deals in multiple currencies. Launched initially with the currencies like Bitcoin, Litecoin, Ethereum, Ripple - it charges you around 0.2 to 0.4 percent of your total trading volume as the fees.
The service quality is quite excellent in its own right. The high-end customer care is what would make it one of the best options. If you are a newbie, it would indeed work the best for you because of the excellent video tutorials they offer you. You also have a chat function to take care of any issues you may be facing.
The exchange does have a mobile application making it the best option to trade while on the move. The exchange offers you payment options in the form of bank transfers and UPI. In fact, it is the first exchange to support UPI mode of payment.
Headquartered in Singapore, the exchange has its IT offices in Mumbai and Ahmedabad. The customer friendly cryptocurrency exchange quite simple and easy to use even for the first-timers.
You can use the exchange for an effective transaction experience in Bitcoin. It has introduced a few changed recently making it one of the top exchanges for the Indian investors. Zebpay is a mobile app based exchange and has no web portal as yet. The exchange deals in multiple crypto coins that include Bitcoin, Bitcoin Cash, Litecoin, and Ripple. The service charges would be 0.1 percent of trading volume. It supports payments through bank transfers and UPI.
A perfectly Indian Bitcoin exchange and trading platform, CoinSecure charges quite lower fees for the transactions. The exchange offers automated bitcoin deposits and withdrawals.
The 0.4 percent service charges have been considered to be one of the lowest in the industry with no hidden charges of any kind. The self-learning video tutorials are quite easy to understand. One of the best aspects of the exchange that we could notice was the support for multiple payment options available on the platform. You have access to several options including NEFT, RTGS, IMPS and cash deposit. The exchange currently deals only in Bitcoin, though we expect more crypto coins being added. We would treat it as one of the most transparent exchanges with its concept of open ledgers. The exchange does not need verification and this can be a security issue for most of us.
Possibly the leading exchanges in India when it comes to cryptocurrencies, Unocoin has an international presence. Just like Koinex, it is yet another crypto coin exchange that can be quite a useful option for the beginners in cryptocurrency investment.
Operating from Bangalore, the exchange has been operational since 2013. The exchange needs customer verification and charges 1 percent of fees. The fees are reduced to 0.7 percent if you trade in high volumes. Dealing only in Bitcoin as of now, Unocoin also has Android and iOS based wallets for easy organization of your trading. The fact that the exchange is backed by US investors should make it one of the excellent choices for your needs. It offers you multiple modes of payment, a few select options being debit cards, credit cards, and PayU Money. The two-factor authentication is one of the aspects that would make it a great option from the security point of view.
You may not be able to trade on Binance using the Indian currency, but the exchange offers you a host of features making it one of the prominent cryptocurrency exchanges for the Indian users.
The exchange supports over 300 currencies. Apart from that, it has the lowest fees worldwide and also offers you a mobile app for trading on it. If you are an active cryptocurrency trader, you would find it easier to invest as the exchange accepts other currencies. One of the essential requirements of dealing with the exchange is you would need cryptocurrencies and not fiat currency. Maybe it would be a great option to buy cryptocurrency from other exchanges and then use them on Binance to deal in the trading. It does not require any kind of verification for the purpose of trading on the exchange.
The Concluding Thoughts
Well, that would conclude our list of top 5 cryptocurrency exchanges in India for the newbies and experienced crypto investors alike. The concept of cryptocurrencies is fast catching up and we would advise you to join the bandwagon before it is too late. There are several options available for dealing with the cryptocurrencies and investment in them.
If you have used any of these options, do share your experiences with us. Do let us know which exchanges you would prefer and why.