Cryptocurrency exchanges in India are still nascent, with only a handful operating currently due to strict regulations.
However, the situation is rapidly changing, with new cryptocurrency exchanges in India being launched regularly. With the increasing popularity of cryptocurrencies, it is expected that the number of exchanges will also increase in the coming years.
At present, there are a few best cryptocurrency exchanges in India that are worth mentioning. These include Zebpay, Unocoin, CoinswitchKuber, WazirX, and CoinDCX.
Zebpay
Zebpay is one of the oldest and most popular cryptocurrency exchanges in India. It was founded in 2012 and is based in Ahmedabad.
The exchange allows users to buy and sell bitcoins. It also has a mobile app that allows users to trade. This exchange has over 100+ crypto coins available for trade. Moreover, it offers 0.15%/0.25% as a trading fee and allows users to enjoy INR deposits and withdrawals. The minimum investment required is 100 INR.
In 2018 Zebpay experienced a temporary setback when the Reserve Bank of India (RBI) imposed a ban on banks from dealing with cryptocurrency exchanges. However, the ban was later lifted, and Zebpay resumed its operations.
Zebpay continues to be one of India’s popular cryptocurrency exchanges, with over 3 million users. And offering its clients to trade in multiple cryptocurrencies and a mobile app for trading on the go makes it one of the best exchanges currently operating in India.
Unocoin
Unocoin is another one of the India’s cryptocurrency exchanges. It allows users to buy, sell, store, and use bitcoins. It also has a mobile app that allows users to trade.
Unocoin has over 1,30,000+ customers and is one of India’s most popular cryptocurrency exchanges. The exchange trades over 80+ crypto coins and offers its traders a NIL/0.3% trading fee. However, the minimum investment required is 1,000 INR.
In 2020, Unocoin was entrenched in a court case debating the fiat on-ramps’ appropriate regulations.
However, co-founder Sathvik vociferously agreed to the on-ramp’s restrictions because he believes it is time to launch a derivatives market. He said the lack of average customer accessibility is due to the Reserve Bank of India’s complications with banks.
The exchange remains one of India’s most popular cryptocurrency exchanges. The crypto exchanges in India ha maintained their popularity despite their various challenges over the years. This is a testimony to the quality of service it offers its customers.
CoinswitchKuber
CoinswitchKuber is another popular cryptocurrency exchange based in India.
The exchange allows users to buy, sell, and trade over 90+ crypto coins. It also has a mobile app that allows users to trade. CoinswitchKuber has over two lakhs+ customers and is one of India’s most popular cryptocurrency exchanges.
The exchange offers 0.1%/ 0.1% fees on all trades and offers users INR 10 cashback on their first trade.
However, the minimum investment required is 100 INR. In October 2021, Coinswitch Kuber received its latest funding of$260,000,000 in a Series C round. Back in 2018, it had raised $1,500,000 in seed funding.
CoinswitchKuber remains to be one of the Best cryptocurrency exchanges in India. The exchange has gained a large customer base due to its service quality.
WazirX
WazirX is another popular cryptocurrency exchange based in India. WazirX allows users to buy, sell, and trade over 200+ crypto coins. It also has a mobile app that allows users to trade. WazirX has over 60 lakh registered users and is one of India’s most popular cryptocurrency exchanges.
The exchange offers 0.2%/ 0.2% fees on all trades and provides users an INR 10 cashback on their first trade. However, the minimum investment required is 100 INR.
In August, Binance, the world’s largest crypto exchange by trading volume, said that it doesn’t own India-based platform WazirX, contrary to what was disclosed two and a half years ago in a move that has baffled industry players. This includes the Indian firm that insists the purchase did take place.
The acquisition helped WazirX scale its operations and enhance its customer base. As a result, WazirX continues to be one of the most popular cryptocurrency exchanges in India.
The exchange is known for its simple user interface and sophisticated trading charts, making it popular with novice and seasonal traders. In addition, WazirX’s referral program may pay customers up to 50% commissions on each trade.
Regarding security and assurance, WazirX ranks first because of its gold-standard protections.
CoinDCX
CoinDCX is another among the best cryptocurrency exchanges in the region. It allows users to buy, sell, and trade over 340+ crypto coins. It also has a mobile app that allows users to trade. CoinDCX has over 5 lakh registered users and is one of India’s most popular cryptocurrency exchanges.
The exchange offers 0.2%/ 0.2% fees on all trades and provides users an INR 10 cashback on their first trade. However, the minimum investment required is 100 INR.
Polychain, Bain Capital Ventures, and 100x Ventures are currently the top investors for CoinDCX funding. Besides these three main ones, CoinDCX has ten additional investors who have raised a sum of $5.5M in three rounds.
CoinDCX is known for its simple user interface, a wide range of coins, and sophisticated trading charts, making it popular with novice and seasoned traders.
CoinDCX remains to be one of the most popular cryptocurrency exchanges. The exchange has gained a large customer base due to the quality of service it offers to its customers.
