Introduction
Are you looking for a cryptocurrency exchange in India? The cryptocurrency platform is gaining popularity rapidly, and people are willing to invest in it. The financial industry is entering a new frontier with cryptocurrency trading, and you must have the tools available to take full advantage of this new environment. Therefore, the cryptocurrency trading app is one of the most crucial tools.
What is a Cryptocurrency, And How Does It Work?
Without the assistance of a central monetary institution like a bank or the government, it is possible to trade a digital asset known as a cryptocurrency (crypto). Cryptocurrencies are created using cryptographic techniques, allowing users to buy, sell, and exchange them without risk.
Blockchain is a method that underpins Bitcoin and the majority of other cryptocurrencies, retaining a tamper-proof record of all transactions and ownership information. Blockchain technology solves the issue of prohibiting individuals from duplicating their assets and trying to use them twice, which plagued earlier attempts to establish solely digital currencies.
Individual cryptocurrencies can be called coins or tokens, depending on how they are utilised. Some can be used to engage in specialised software programs like games and financial products, while others can be used as stores of value or as units to exchange goods and services.
List Of Best Cryptocurrency Exchange Apps In India
1. Mudrex
Mudrex is an easy-to-use application for beginners and experienced investors to invest in cryptocurrencies. It has a diverse range of products and helps in long-term wealth creation.
| App Name | Mudrex |
| Feature List | Diverse products: Thematic crypto baskets called Coin Sets, Individual Coins, VaultAmazing customer support and knowledge base directly accessible through the appIntuitive UICrypto baskets which are managed by individuals with 10+ years of experience |
| Fees(Maker/Taker) | 0.2% on transactions |
| Top Cryptocurrencies Available | 150+ |
| Minimum Investment Required | $5 |
| Why do we pick? | Mudrex stands apart from other platforms because it lets users invest their money into coins and helps generate long-term wealth. Their flagship product, Coin-Sets are baskets of cryptocurrencies based on themes from the cryptoverse. |
| Rating | 4.5 |
| Expert Reviews | Perfect for newbies and experienced investors to invest and grow wealth |
| Pros | Cons |
| Wide range of products: 1. Coin Sets: thematic crypto baskets, which let you invest in sets of cryptocurrencies in 1-click at no additional cost.2. Coins: Users can invest in coins of their choice3. Vault: Earn 10% interest on your crypto investments | Not suitable for professional traders |
| Intuitive UI and exhaustive knowledge base. | |
| Secure, Fast, and funds insured by Lloyds London. |
2. WazirX
This is undoubtedly one of India’s most rapidly expanding bitcoin exchange applications. This enables users to purchase a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and others.
| App Name | WazirX |
| Feature List | Start with the lowest price. Within 2-4 hours, account verifiedUser-friendly to beginners.Trade all altcoins directly. |
| Fees (Maker/Taker) | 0.2%/ 0.2% |
| Top Cryptocurrencies Available | 200+ |
| Minimum Investment Require | Rs. 100 |
| Why do we pick? | WazirX, one of the most dedicated and fastest-growing cryptocurrency exchange apps? It offers a wide range of coins and trading pairs at competitive trading fees. |
| Rating | 4.5 |
| Expert Reviews | Investors seek the lowest trading costs for stablecoins and other cryptocurrencies. |
| Pros | Cons |
| India’s first automated P2P trading platform | It lacks margin trading. |
| Friendly customer service | It only supports 8 coins by P2P. |
| 95% of the finds are stored in cold storage. |
3. Binance
One of the crypto platforms in India is Binance. Trades are charged usury fees, and the platform supports 600 coins.
| App Name | Binance |
| Feature List | Meagre trading fees (just 0.1%)Instant account verification User-friendly for newbies and experts alike.95% cold storage policy keeps your crypto extra secure. |
| Fees (Maker/Taker) | 0.1%/0.1% |
| Top Cryptocurrencies Available | 600+ |
| Minimum Investment Require | Rs. 100 |
| Why do we pick? | With over 9 crore registered users, Binance contributes to the high level of security for user funds. |
| Rating | 4.9 |
| Expert Reviews | A crypto exchange that never touches investors’ funds as a method of trading altcoins. |
| Pros | Cons |
| There are few fees compared to other exchanges. | Not available in all states |
| 25% off trading fees if you pay with Binance Coin (BNB) | Lack of information on security |
| Available educational resources |
4. CoinSwitch Kuber
The goal of CoinSwitch Kuber is to democratise cryptocurrency investment. Like Krypto, over 150 nations, including India, value this bitcoin trade tool.
| App Name | Kuber |
| Feature List | Zero trading fee Powerful mobile appFast customer service.Minimal price |
| Fees (Maker/Taker) | 0.1%/ 0.1% |
| Top Cryptocurrencies Available | 90+ |
| Minimum Investment Require | Rs. 100 |
| Why do we pick | CoinSwitch Kuber is ideal for novices because it has no trading fees on all Bitcoin transactions. Users may trade over 80 cryptocurrencies for as little as INR 100. With this platform, you can exchange INR for cryptocurrencies as well as trade cryptocurrencies against cryptocurrencies. |
| Rating | 4.0 |
| Expert Reviews | Investors seeking an anonymous cryptocurrency exchange to trade their altcoins on. |
| 4Pros | Cons |
| Easy to use interface | No demonstration |
| Instant buy, sell, & withdrawal | No margin for training & staking |
| Free deposit and withdrawal. |
5. Zebpay
Another country’s earliest bitcoin trade app is Zebpay. It’s that easy to sign up – just provide your KYC! The fact that this program has a “refer and earn” option is intriguing.
| App Name | Zebpay |
| Feature List | Start with the lowest price. Within 2-4 hours, account verifiedUser-friendly to beginners.Trade all altcoins directly. |
| Fees (Maker/Taker) | 0.15%/0.25% |
| Top Cryptocurrencies Available | 100+ |
| Minimum Investment Require | Rs. 100 |
| Why do we pick? | ZebPay is well-known among crypto investors for paying interest on idle crypto assets. For lending crypto, it guarantees a set return of 4%. The exchange currently supports over 100 million registered customers. It uses cryptocurrency on its platform. |
| Rating | 4.5 |
| Expert Reviews | Investors seek the lowest trading costs for stablecoins and other cryptocurrencies. |
| Pros | Cons |
| Strong safety measures | No real-time chatbox option |
| No fee trading on select pairs. | No user-friendly |
| Attractive rewards and referral programs. |
6. Unocoin
This cryptocurrency exchange claims to be India’s first crypto asset and blockchain enterprise. It is proud to have over a million investors now. Investors get access to hundreds of cryptocurrencies.
| App Name | Unocoin |
| Feature List | It charges exorbitant trading fees.High withdrawal feesOldest crypto exchange in India |
| Fees (Maker/Taker) | NIL/0.3% |
| Top Cryptocurrencies Available | 80+ |
| Minimum Investment Require | Rs. 1,000 |
| Why do we pick? | The UnoCoin exchange is one of the central and oldest exchanges for buying, selling, and storing Bitcoin or other merchant processing services. On this site, users may trade in 80 different types of digital currencies. Users receive free Bitcoins and get 15% back in trading commissions when they sign up. |
| Rating | 4.5 |
| Expert Reviews | New investors are looking for a starting point in cryptocurrency. |
| Pros | Cons |
| It allows customers to keep Bitcoin as a mortgage in USD or INR against it. | Limited chatbox |
| It will enable users to choose SBP to increase their returns. | Expensive coins |
| Discounts on Refers and Earn |
7. CoinDCX
One of India’s most flexible cryptocurrency trading platforms is CoinDCX. Its security feature is undoubtedly noteworthy. This is because users must authenticate themselves before they can engage in trading.
| App Name | CoinDCX |
| Feature List | Supports over 100 cryptocurrencies.Account verification in a flashPolicy of 95% cold storage |
| Fees (Maker/Taker) | 0.2%/0.2% |
| Top Cryptocurrencies Available | 340+ |
| Minimum Investment Require | Rs. 100 |
| Why do we pick? | It is the safest platform for trading in India. This platform offers a wide range of cryptocurrency-related goods and services, including staking, futures trading, lending options, and margin trading. |
| Rating | 4.5 |
| Expert Reviews | Long-term investors who want to buy and hold cryptocurrencies. |
| Pros | Cons |
| All funds are safe. | Only supports INR as a fiat currency. |
| Futures trading allows for 15x leverage. | Recent hike in trading fees from 0.1% to 0.2%. |
| Free deposit and withdrawal fees |
8. Bitbns
This cryptocurrency trading software, which is accessible on Android and iOS, allows users to purchase and trade cryptocurrencies without the participation of a third party.
| App Name | Bitbns |
| Feature List | Supports 10 cryptocurrencies.Designed for beginnersInstant deposits95% cold storage policy |
| Fees (Maker/Taker) | 0.25%/0.25% |
| Top Cryptocurrencies Available | 390 + |
| Minimum Investment Require | Rs. 100 |
| Why do we pick? | It allows customers to trade in around 400 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. Over 40 lakh people have registered on this platform overall. Bitbns provides significant teaching material in the bitcoin field through several research papers and the Bitbns academy. |
| Rating | 3.5 |
| Expert Reviews | It’s user-friendly for beginners. |
| Pros | Cons |
| Have a wide range of tokens and cryptocurrencies. | It doesn’t have an app. |
| Easy to use. | Only Bitbns native coins can be staked. BNS |
| Access to a wealth of scholarly reports and resources. |
9. BuyUcoin
Among the cryptocurrency assets you can trade and store are bitcoin, polkadot, Ethereum, and ripple. It features real-time spot trading, a forever free wallet, cashback, and lifetime commissions when you refer friends.
| App Name | BuyUcoin |
| Feature List | Easily registrationOffers tools for newbies.Offers advanced charting tools for experts. Wide range of helpful resources for beginners. |
| Fees (Maker/Taker) | 0.24%/0.24% |
| Top Cryptocurrencies Available | 130+ |
| Minimum Investment Require | Rs. 20 |
| Why do we pick? | BuyUCoin is popular among millennials because of its easy-to-use interface and features such as free wallets, cashback, and lifetime commissions. Over 10 lakh users have registered. |
| Rating | 3.5 |
| Expert Reviews | Strong charting skills are desired by seasoned traders. |
| Pros | Cons |
| Affordable rates | Uninteresting website interface |
| Own its NFR marketplace | No leveraged trading. |
| Option of creating a virtual demo |
10. Capital
The capital enables users to trade cryptocurrency alongside stocks, commodities, currencies, market indexes, ETFs, and other assets without incurring trading costs.
| App Name | Capital |
| Feature List | Excellent desktop trading platform. Completely functional Allows for up to 500x leverage (2x leverage on crypto).ASIC (Australian Securities and Investments Commission) licensingInformation security standards are exceedingly high, as evidenced by ISO 27001 certification. |
| Fees (Maker/Taker) | 0.1%/0.3% |
| Top Cryptocurrencies Available | 100+ |
| Minimum Investment Require | Free |
| Why do we pick? | Capital charges a tight spread of 0.1% – 0.3% (depending on the asset), resulting in a very cheap total cost of utilising the platform (0% trading fees + 0.1% – 0.3% spreads). |
| Rating | 4.9 |
| Expert Reviews | Investors seeking a no-commission trading environment for cryptocurrencies. |
| Pros | Cons |
| A secure account, | The verification process takes a long time. |
| Investing is free. | |
| Verified under ISO 27001 |
What Are The Different Types Of Cryptocurrency Exchanges?
- Centralised Exchanges or CEX
The most popular sort of platform for crypto trading, these exchanges provide quick, straightforward procedures combined with a very user-friendly layout. As the name implies, a single body governs and controls these exchanges.
To prevent inconsistencies, the business records and validates every order or transaction. The user deposits money into a wallet that the CEX manages. Additionally, the user must comply with the KYC standards, which involve sharing personal data, to establish an account here.
- Decentralised Exchanges Or DEX
These exchanges are genuinely decentralised because no company or institution regulates them. A decentralised application and intelligent contracts execute the trades on the exchange. However, no KYC or personal information is required. A DEX is more secure since it is automated and backed by smart contracts written with security checks in mind. A DEX’s interface differs from a CEX’s, which generally affects its speed and volume. CEXs may prove more beneficial for beginners than DEXs for experienced traders.
- Hybrid Exchanges Or HEX
Both centralised and decentralised exchanges offer advantages that hybrid exchanges do not. It’s still early days for a hybrid cryptocurrency exchange. It preserves anonymity and security, precisely as decentralised exchanges do, yet has the liquidity feature of centralised platforms. One of the most noticeable elements of HEX trading is the absence of taker and gas costs.
What To Look For To Pick The Right Indian Crypto Exchange?
- Supported Coins:
The best cryptocurrency exchanges provide a wide selection of tradeable coins, enabling investors to maximise their profits by trading different crypto assets.
- User Interface:
The exchange’s user interface must be tested for safety. Mobile and web application security is a top priority. Digital tokens are susceptible to theft and hacking, so they shouldn’t be disregarded.
- Fees:
Every crypto exchange will charge the same fees. However, the charges and the level they cut into your revenue will vary from sale to sale. A transaction charge of 0.2% or less will often be found on the best platforms. Before deciding on a crypto exchange, you should examine the trading, deposit, withdrawal, and balance transfer fees.
- Regulation
A well-regulated exchange is much safer to use than one that isn’t, making it one of the most crucial factors to consider when selecting an exchange.
- Deposit And Withdrawal Options:
To make it simple for investors to transfer money into and out of their accounts, crypto exchanges should accept various payment options.
- Account Security:
It is advisable to choose crypto exchanges that use multiple layers of security, such as two-factor authentication and a cold storage rate of 95% or greater.
- Customer Support:
Ensure you have various payment methods, 24×7 customer support, a mobile phone application, etc. Investing/trading can be made more enjoyable by these small features. Also, look at customer reviews and ratings for mobile applications. The quality of the service will be evident from this.
Cryptocurrency Exchanges Charge Different Fees
Different cryptocurrency exchanges in India impose varying prices. Here are the various expenses entailed:
- Joining Fee:
In India, most cryptocurrency exchanges offer free registration, including Mudrex, WazirX, ZebPay, and Bitbns. Inactive accounts may be charged a minimal fee.
- Deposit Fee:
Crypto exchanges charge this fee when users deposit money to initiate buying or selling. Users can transfer money via payment service providers, Mobikwik, crypto wallets, UPI, net banking, or bank transfers to determine the deposit fee amount.
- Trading Charge:
Cryptocurrency exchange fees are mainly composed of trading charges. A trader may be charged a flat percentage or a charge depending on the orders, such as making and taking orders. We must first understand the Maker and Taker fees before moving forward.
- Withdrawal Fee:
Some exchangers charge users when they withdraw money from a fiat currency. When a user makes a sell order on the exchange, the money is available for withdrawal once it appears in the user’s wallet. The users may be charged for full or partial withdrawals from their registered bank. The user may also withdraw coins, which come as a penalty.
Frequently Asked Questions:
1. How to purchase cryptocurrency in India?
You need a cryptocurrency exchange to buy and sell crypto coins to own a cryptocurrency. Once you’ve chosen a business, you’ll need to fund your account to begin trading cryptocurrencies. Regulatory issues in India have disabled UPI and Mobikwik payments. You can make deposits via bank account, net banking, and P2P transfers. You can buy your favourite coin quickly and easily once your account is credited with the money.
2. Is it possible to convert cryptocurrency into cash?
Yes! Users can easily convert fiat money to cryptocurrency or vice versa with an exchange platform.
3. Best Bitcoin trading app
If you are looking for the best Bitcoin trading app, you must go for Mudrex, Zebpay, Unicoin, WazirX, and Bitbns.
Conclusion:
A different option for making passive money at home is through the trading of digital currencies. Most individuals use mobile applications to trade cryptocurrency since they can do it on the go. When selecting the best cryptocurrency trading software, consider the costs, spreads, acceptance of deposit options, and liquidity.
