5 Best Cryptocurrency Exchanges in India
India is one of the biggest countries in terms of crypto investors. Back. In 2018-19, thousands of Indians invested in different cryptocurrencies. Even if the Indian government tried to stop people by blocking bank transactions, people didn’t stop. In 20121, we see several cryptocurrency platforms getting venture funding in India. We also see video ads on TV and streaming platforms. This could be another reason why several new people are now taking interest in investing in cryptocurrencies. Before you search for a random crypto platform and invest, you should know that there are several fake cryptocurrency exchanges that promise cheaper tokens but won’t issue tokens. So, you always go with a trusted cryptocurrency exchange.
In this article, I am listing the 5 best cryptocurrencies operating in India. All these cryptocurrency platforms are safe and secure. After the KYC, you can start crypto trading.
What Is a Cryptocurrency Exchange?
Cryptocurrency Exchange is an online marketplace that lets you buy, sell, and trade cryptocurrency. The change works in the same way the online stock trading platform works. After the KYC, you can deposit fiat currency to buy different cryptocurrencies. Users can also trade their cryptocurrency for other cryptocurrencies.
What Should You Look at while choosing a Cryptocurrency Exchange?
There are several crypto exchanges including some which are also involved in fraudulent activities. I remember one of my friends invested to buy Bitcoin from an Indian exchange offering Bitcoin at a lower price than the market price. Later, it turned out to be a fraud exchange and he lost his money. So, you should always find a trusted platform before selecting one. Cryptocurrency exchanges are either centralized or decentralized. Centralized exchanges are safe because they align with financial regulations from the government. Decentralized exchanges are unregulated. You should also read their reviews, see if the company is registered in the country and the platform is secure.
Indian Cryptocurrency Exchanges
CoinDCX was launched back in 2018 and grew rapidly. It is a safe and good marketplace to buy different cryptocurrencies. The platform boasts more than 6 million investors. Most people found this platform interesting due to the minimal trading fee. It also offers free deposits and withdrawals. This cryptocurrency trading platform supports more than 200 cryptocurrencies. You can deposit Indian Rupees on the platform and then purchase different cryptocurrencies. You can also trade one cryptocurrency for another as per your need. Before you start investing in cryptocurrencies, you need to follow the KYC process.
Wazirx is another trusted platform to buy, sell and trade different cryptocurrencies in India. You need to signup and follow the KYC process. Once your KYC is done, you can deposit the amount and start crypto transactions. You can deposit INR and then use this money to buy other cryptocurrencies. The platform recently also introduced its own WRX token with a max volume of 1 Billion. WazirX is available on different platforms including web, Windows, macOS, Android, and iOS.
Zebpay is also one of the popular cryptocurrency exchanges operating in the country since 2014. It claims to facilitate more than 10 billion dollars worth of transactions since its inception. There are millions of crypto investors who actively use Zebpay for cryptocurrency investment and trading. This platform saw several ups and downs in the crypto market but still operating and offering a safe platform for crypto exchange.
Unocoin is another leading cryptocurrency trading platform where you can buy and sell Cryptocurrencies in India. This platform boasts over 1.5 million investors. This platform has been operating in the country since 2013. The platform supports most of the popular cryptocurrency trading. All transactions will appear in the Unocoin Exchange. You can also use this platform for mobile and DTH recharge using crypto. You can deposit money using NEFT, RTGS, IMPS, or UPI. It also supports MobiKwik wallet. Like other cryptocurrency platforms, this one also requires KYC before you start trading.