When buying cryptocurrencies there is no one size fits for cryptocurrency exchanges. Some exchanges are better suited for less-experienced traders and retail investors, while some are geared towards institutions or full-time traders. Each user has its own unique needs when buying cryptocurrency. Though the space is hyper-competitive, each has a different fee structure, trading features, coins on offer, and security and insurance measures in place. Now with the removal of the RBI ban on Indian banks’ dealing with cryptos, investors in India are eager to trade in this rapidly-growing space. Below is a list of Best cryptocurrency Exchanges in India to meet the need for Indian investors while supporting the exchange of digital currencies:
WazirX is a cryptocurrency exchange based in Mumbai, India. The exchange was launched in March 2018 by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. WazirX offers a system that allows users not only to trade digital assets but also to buy and sell cryptocurrencies such as bitcoin, bitcoin cash, litecoin, dash and many more. The exchange claims that the platform is not only for professional traders but also for first-time investors as it allows wire transfer deposits.
Image Source: WazirX
Additionally, WazirX has been issuing WRX which is a digital coin created by the exchange. The company claims to create a maximum of 1 billion WRX and reportedly will offer free 150 million (15%) coins to early adopters and traders who decided to sign up early.
Furthermore, the WazirX exchange platform can be used on all known operating systems, including the web and mobile web, Android, iOS, macOS and Windows.
CoinDCX’s goal is to democratize finance and make investments accessible to everyone. CoinDCX is a pioneer in the cryptocurrency exchange industry. The exchange brings liquidities and assets of the world’s top exchanges – all on one platform. crypto needs, regardless of trading experience. CoinDCX has empowered its traders with a bouquet of industry-first products to trade better using liquidity from the world’s leading exchanges.
Image Source: CoinDCX
CoinDCX’s massive liquidity, powerful wallet, and impenetrable security make the trading experience extremely fast, reliable, and effortless. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration.
Since RBI’s removal of the crypto ban, CoinDCX becomes the first Indian crypto exchange to integrate bank account transfers.
Unocoin is India’s leading cryptocurrency exchange and wallet with over a million customers. Unocoin has one mission – “Bringing bitcoin to the billions”. Launched in 2013, Unocoin is based out of Bengaluru, India. In the five years since its launch, Unocoin became a popular cryptocurrency exchange in India, claiming to have more than 150,000 users.
Image Source: Unocoin Youtube
Its point of difference is its claim of being the first Indian exchange that offers its users the opportunity to purchase bitcoin systematically through Systematic Investment Planning (SIP).
BitBNS is the forefront of the crypto revolution in India. They have been around for years, and their founding team is super innovative. They are anchoring Bitcoin as an investment instrument, and their bold innovation like P2P, Bitdroplet speaks volumes of it. It is the first Indian exchange to include margin trading. Founded by IIT graduates, also crypto enthusiasts, Bitbns commenced operations in December 2017. The Bitbns team focussed on ease of use, security, and customer support right from the beginning.
Image Source: BitBNS
Bitbns is the fastest and simplest way to trade cryptocurrencies with one of the best three-way Peer-to-Peer systems for purchasing cryptocurrency with FIAT in India which will be soon extended to UAE and other countries.
It is the global first to start the P2P ecosystem for FIAT deposits/withdrawals, Arbitrage Chrome Extension, Margin trading of 28+ cryptocurrencies with 4x leverage and much more.
Giottus is a multi-coin cryptocurrency exchange based in Tamil Nadu, India focused on delivering a world-class platform that is reliable, secure and trustworthy. Giottus makes it possible for anyone to become an expert in cryptocurrency trading by providing powerful tools and technologies that are easy-to-use. Giottus is a breakthrough endeavor of two IIM alumni Vikram Subburaj, CEO and Arjun Vijay COO. The duo had made crypto exchange possible even with the strict RBI regulations through P2P trading.
Image Source: Giottus
Apart from having loads of exciting features, Giottus is the first exchange in India to offer advanced trading features, the highest number of Crypto-crypto trading pairs and first in the world to have Ripple, Bitcoin Cash, and Litecoin as Base coin pairs.
Founded in 2016 PocketBits is the fastest bitcoin exchange in India. With a 59 Minute guarantee for KYC Verification, INR Deposits and Withdrawals combined with unparalleled instant customer support on Chat/Social media, an easy to use interface and suite of tailored products and tools, PocketBits is leading the way and setting a bar for customer satisfaction and innovation for Fin-tech companies in India.
Image Source: PocketBits
PocketBits has a host of features such as Shop With Bits enabling users to shop from leading eCommerce stores and buy gift vouchers with Bitcoins. A Merchant Gateway API and Point of Sale app allowing Businesses to accept Bitcoin with instant INR settlements with no risk of Volatility and reach a global user base.
Koinex (Closed Since the 2018 RBI ban)
Koinex was one of the most advanced, popular and reliable cryptocurrency exchanges in India that dealt with multiple cryptocurrency pairs including USDT. Koinex is the first India exchange that offered the Taker-Maker model in the Indian crypto market at a small trading fee. Users could even access the Koinex platform through desktop as well as a mobile application.
Back amid the RBI shutdown of banks’ dealing with crypto-related firms, Koinex was one of the victims of the said ban.
Now with the ban removal, India’s Supreme court directed the Reserve Bank of India (RBI) to unfreeze Koinex’s current account with the Central Bank of India, containing over INR 12 crore (or 120 million).
With the Supreme Court’s verdict, there are hopes that it will boost and revive the crypto exchange once again.