The youth of today is becoming increasingly aware of the need to invest to battle inflation and build up reasonable savings. While most tend to learn stock trading and engage in it as well, cryptocurrency trading is becoming popular by the day. Ever since the launch of the first cryptocurrency Bitcoin in 2009, more have followed its lead. As of 2021, crypto investment is one of the most sought after, especially by the younger generation. However, trading or investing in cryptocurrencies is not as simple as it sounds. For starters, you have to find a good crypto exchange.
To pick a cryptocurrency exchange is no easy task. There is much that goes into it. You have to verify the credibility of the concerned platform, the transaction fees charged by it, the ease of usage of the platform & the trading interface and more. That’s why we took care of the hassle! Zapingo presents the top cryptocurrency trading platforms in India.
Top Cryptocurrency trading platforms in India
Founded in 2017, CoinSwitch is a global crypto-exchange. This trading platform is available in almost all countries which allow crypto trading. It allows cryptocurrency traders to trade in over 100 cryptocurrencies which is unique. Coinswitch interface is carefully made keeping in mind the ease of usage to ensure that amateur traders do not find any trouble in trading. The transaction fee comes at about 0.49% but varies with the exchange medium. CoinSwitch Kuber is an even simpler version of the trading platform and features mobile apps for both Android and iOS. Users can transact using large number of currencies and credit or debit card.
This platform features the most number of cryptocurrencies and hence is the most favorable for traders looking to transact in many cryptocurrencies. CoinDCX is one of the largest cryptocurrency listings with more than 200 tradeable cryptocurrencies available on the platform. Similar to CoinSwitch, CoinDcx also enables Indians to trade in INR. The trading fees is very low (0.1% of the total transaction amount). CoinDCX is very professional in its conduct and has released multitude of products helping traders.
ZebPay is one of the oldest known crypto trading platforms. Since its launch almost 8 years ago it has grown to serve millions of cryptocurrency enthusiasts across the world. The ZebPay fee structure is a tad bit complex to understand but here goes: Maker fee @ 0.15% when the placed order isn’t matched, Taker fee @ 0.25% when the transaction is executed instantly and Intraday fee @ 0.10% on every transaction occurring after midnight. When the user transacts through Net Banking, 1.75% commission is charged. ZebPay follows heightened security measures ensuring that the cryptocurrencies traded are safely stored. The crypto coins are stored in physical cold wallets and scattered throughout the globe. Moreover, to add to its existing safety protocols, ZebPay has firewalls in place and has also devised its own security protocol system which goes by the name Omnitrixx.
(Cold Wallets are devices which resemble pendrives and store cryptocurrencies. They are encrypted and can only be accessed when plugged into digital devices such as laptops.)
Coming in at number 4, we have WazirX. It charges a mere 0.2% transaction charge. A crypto exchange equipped with platform agnostic capabilities, WazirX is backed by Binance. The latter being one of the largest cryptocurrency exchanges. WazirX has its own token known as Wazir Coin. It is available on 5 platforms: Windows, Linux, Mac OS, iOS and Android. This ensures the trading market is easily accessible and the user is never far from the action.
The most popular cryptocurrency trading platform, Unocoin is indigenously developed and a NASSCOM member. Launched in 2013, it is different from all other platforms since it offers OTC services enabling bulk trading and Systematic Investment Plan (SIP) functionalities. Since it is made in India, it obviously accepts INR transactions. It charges 0.7% transaction fee.
An interesting and enticing feature for traders is that Unocoin lowers the transaction fee from 0.7% to 0.5% post 60 days and once it detects considerable volume of transactions undertaken by the user. In terms of security of investment, Unocoin is considerably secure since it stores the digital assets its users invest in, on an offline storage. Unocoin has its own app for mobile platforms.
Another Indian cryptocurrency exchange platform, BuyUcoin was founded in June 2016. It enables users to transact in more than 30 cryptocurrencies and is continuously adding more to the platform. BuyUcoin has gained immense popularity even in the short span since its launch and has recorded $50 million in transactions. It was one of the first platforms to commence P2P transaction model. It charges no fees for OTC trading while the transaction charges vary in accordance with the trade cryptocurrency. BuyUcoin offers an SIP feature as well for crypto enthusiasts.
Other cryptocurrency exchange in India:
Apart from the aforementioned list of the top cryptocurrency exchange platforms in India, there are more crypto exchanges such as:
- Paxful – trades only Bitcoins. 1USD/tnx or 1% of total tnx value.
- Giottus – trades only Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin. Very fast, stable and reliable platform. Well-known for its ability to manage millions of orders at a time. It features stop-loss limit enabling users to automate selling and cut down their losses. The transaction fee is 0.25% per buy order and 0.15% per sell order. It has a mandatory KYC requirement.
Final Take – Best Cryptocurrency trading platforms in India
We have listed a large number of Cryptocurrency trading platforms in India, however the question arises which one should you choose. In our opinion, it depends on your trading preferences. If you are seeking the lowest transaction fee then you should go with WazirX. Else, if you want to be able to trade in a large number of cryptocurrencies, your best bet would be to go with CoinDCX. In case you are a seasoned trader looking to make use of professional tools to aid your trade you should try Unocoin. For starters who want a simple interface, CoinSwitch or CoinSwitch Kuber would be a good option. Lastly, if you value security over everything else try ZebPay. While picking be sure to understand the platform in all aspects of trading. Different platforms have different requirements and obligations. There you have it! The list of the top cryptocurrency trading platforms in India.
Investing in crypto is a good idea to grow money but do you know the art of saving money? Saving money is just as important as earning it. for saving money, we have your back. Zapingo lists offers, deals, coupons and promo codes for all stores and e-commerce websites across all of their product categories. The next time you shop, be sure to check out Zapingo for exciting offers using which you can save a ton!