Indian investors, just like international investors, have poured billions of dollars into digital coins, as cryptocurrency exchanges are aiming to reshape the crypto industry in the country.
Many trading platforms or apps, which allow their clients to trade in cryptocurrency with ease, have emerged in the past few years. A few of them have now gained millions of clients trading on the platform, signaling the popularity of the digital asset in India.
In this article, we will discuss 5 best crypto exchanges in India in 2021, which gained popularity in the country:
WazirX
WazirX is an Indian subsidiary of Binance Holdings, one of the largest cryptocurrency exchanges in the world. The trading platform, which is available on Android, iOS, Web, Mac, and Windows, has over 6.5 million registered investors. In June 2021, the exchange processed crypto transactions worth $6.2 billion.
Account Creation Process:
• Download the WazirX app or visit the WazirX website. After that, hit the sign-up button.
• Enter your e-mail address (which you use) and a password.
• Click on the account activation link in the e-mail.
• Click on the terms and conditions of the checkbox, but read it once before checking.
• Lastly, press the Sign Up
A verification E-mail will be sent to you after pressing the sign-up button. If you received any e-mail, click on the Verify E-mail to complete the process. If you have not checked your spam folder, then press resend button.
Security:
Enable 2-factor authentication (2FA) for security purposes. You can do this by downloading the Google Authentication app and connect your account.
KYC Verification Process:
To deposit money in INR or crypto form, you have to complete your KYC process. Follow the steps to complete the entire KYC process:
• Click on your Profile tab, and after that, click on the Complete Verification.
• Enter all the details and government-approved ID cards.
• After that, enter your bank details. WazirX uses a bank account for all future withdrawals.
• Upload images of PAN, Aadhar, and a picture in JPG or PNG form.
• Once the details are verified, you can deposit the funds.
Fees and Charges:
WazirX's fees are called flat fees, where the manufacturers are charged the same fee. WazirX's fees are 0.20% for the borrower. Today, we see more exchanges moving towards lower trading fees such as 0.10%. So in comparison, 0.20% is probably slightly above the industry average. Withdrawal fees depend on the crypto asset which you are withdrawing. Nevertheless, they are usually a fixed amount of relevant crypto assets and not a percentage-based trading fee. WazirX charges a withdrawal fee in line with the global industry average, i.e., 0.0006 BTC per BTC clearance.
To signup, please click here!
CoinDCX
CoinDCX is one of the most popular crypto trading platforms in India. The Mumbai-based startup has more than 3.5 million inventors registered on its platform which was launched way back in 2018. Investors can trade in more than 200 cryptocurrencies on CoinDCX, which only charges a nominal trading fee. Most importantly, the platform offers free deposits and withdrawals to its clients.
Account Creation Process:
• Open the CoinDCX Go app and click on Login or Register under Account.
• Click on the Sign Up button and start adding your details.
• Click on the checkbox to enter the referral code if you have one.
Once you verify your email address, you will be asked to login into your CoinDCX Go account. You can now access all features of CoinDCX and CoinDCX Go.
KYC Verification Process and Security:
Complete your KYC verification and enter your Bank account details for a seamless trading experience. You can improve the security of your account by adding 2FA and withdrawal password under Security in your Account.
To signup, please click here!
Bitbns
Bitbns is said to be one of the best for investors starting their crypto investment journey. Bitbns exchange offers grade-A security to its investors and accepts payment modes such as UPI and net banking.
Account Creation Process:
• Click on the Signup button
• Fill up the essential subtleties that appeared on the screen
• Click next and enter the OTP got on your versatile number
• Click next, where you will be taken to the dashboard where you can begin trading
KYC Verification Process:
You should confirm your KYC on the off chance that you need to deposit or pull out Fiat currency or pull out colossal sums in crypto
• You are to present your National ID documents containing your address verification and your date of birth
• National archive, for example, Aadhaar Card, Passport, PAN Card, Voter IDs, and so forth Indian Citizens should enter their PAN card details.
• Non-Indian Citizens can enter your National ID subtleties containing the date of birth Complete your KYC Now
Account Verification Time:
They confirm user profiles with automation and physically. Automated user profile verification is the moment. At the point when a user is dismissed in automated profile verification, users are requested to drop an email to support@bitbns.com for manual verification. Manual verification may take up to 2 – 4 four days.
Continue to check your mail routinely, as your user verification group may ask you for additional data over the mail until your account is confirmed.
Remember that you don’t should be confirmed to exchange on Bitbns. Verification is fundamental just when you are hoping to withdraw.
To signup, please click here!
CoinSwitch Kuber
CoinSwitch Kuber is a cryptographic money exchange platform. It is a safe, easy-to-use platform for clients in India, where they can buy 100+ digital forms of money like Bitcoin, Ethereum, Ripple, and so forth effectively, at the best rate, with an assortment of payment choices being offered.
Account Creation Process:
• Download the CoinSwitch Kuber app from the Google Play store.
• Click on Install.
• Launch the app and Enter the versatile number through which you need to hold your record. An OTP will be shipped off the number you enter in this step along these lines, kindly ensure that the number is available to you.
• Enter the OTP shipped off your number entered.
• Set a 4 digit PIN (Personal Identification Number).
• Re-enter the very PIN that you entered for affirmation.
KYC Verification Process:
To finish your KYC, you are needed to provide the following:
• Your Name, Date Of Birth, and Email address
• A picture of the printed version of your PAN card
• A picture of the printed version of your Aadhar/Voter id/Passport
Note that both PAN and Aadhar/Voter id/passport ought to have a place with the proprietor of the record. A driving permit is not acknowledged.
Account Verification Time:
Your KYC can be finished in 5 minutes, provided the common pictures are greater for us to check the subtleties. Likewise, the name of the CoinSwitch Kuber record ought to be equivalent to the name on the provided KYC documents.
Fees and Charges:
CoinSwitch Kuber charges nothing for depositing and withdrawing cash to their application, however they do have hidden charges. At whatever point you buy a digital currency on CoinSwitch, the company deducts 1-2 percent from the expense of the buy. CoinSwitch charges trading expenses between 0 to 0.5%
To signup, please click here!
ZebPay
ZebPay is an Indian exchange that has been facilitated more than 3 billion dollars worth of transactions. ZebPay brings the power of decentralized digital finance to everybody.
Account Creation Process:
• Click on the ‘Sign Up’ button on the top right corner of their homepage.
• You will be asked to enter your phone number, full name, and email address. Register with your primary mobile number without the country code as this is the unique identifier used to tie into your Zebpay account.
• Set a secure 4-digit pin. This is a unique security code known only to you and neither Zebpay nor its affiliates will ever ask you for it.
• Once you have entered the details, accept Zebpay’s Terms of Use and Privacy Policy and click on ‘Continue.’
• Once you click continue, a verification code will be sent to the mobile number you have provided. Enter it in the space provided and click ‘Continue.’ If you are using the Zebpay app or website to register, you can also choose to receive a mobile number verification call, once the countdown timer ends.
• After your number has been verified, you will be asked to enter your 4-digit pin to log in.
• You will receive a verification mail on the email address you have provided. Click on the button that says ‘Click here to verify your email.'
KYC Verification Process:
• Enter your nationality and country of residence. This cannot be changed once confirmed. Click Continue.
• In order to complete your KYC, you need an ID Document, Address Proof and Declaration. Click continue.
• Select an ID Document from the drop-down list and upload it. You may be asked to upload both sides of the document if required. Click continue.
• Follow the same step as above for the Address Proof document.
To signup, please click here!
Conclusion
Most Indian traders and investors have already found the best exchange for themselves. However, specific parameters need to be considered before calling a platform the best cryptocurrency exchange in India. While evaluating crypto exchanges in India, especially to find the best cryptocurrency exchange for 2021, users need to conduct extensive research on the crypto exchange platform. They also need to make sure that the user reviews of the crypto exchange platform are authentic.
To know more in detail, you can watch our video below.