On 6 April 2018, the Reserve Bank of India (RBI) issued a circular ordering all companies and businesses to stop dealing with entities dealing with cryptocurrencies. The announcement warned that all dealings with the crypto industry and the entities that represent them must be terminated within a specified period of three months. After a Supreme Court ruling in favor of cryptocurrency, India saw a crucial change in investment from traders and buyers who wanted to try their luck in the cryptocurrency market. This change brought several international cryptocurrency exchanges to India. To help investors and buyers choose the best platform for all their cryptocurrency transactions, here is a list of the best cryptocurrency exchanges in India.
List of 10 Best Cryptocurrency/Bitcoin Exchanges in India:
BuyUcoin crypto exchange has collaborated with a Singapore-based Hybrid Blockchain XinFin. BuyUcoin is one of India’s top-notch cryptocurrency exchanges. BuyUcoin works hard to make the user interface effortless by adding functionality that will make cryptocurrency transactions easier and faster.
- This company keeps 95% of funds safe with offline HTTPS and HSTS secure connections.
- Rates are low and income is high.
- BuyUcoin sticks to the industry’s best practices.
Some of their claims are bogus.
Official Link: BuyUCoin
Giottus is a recently released cryptocurrency exchange that runs on the P2P model as well. It has a fast KYC process that makes it mandatory for clients. The exchange center enables the trading of popular cryptocurrencies such as Bitcoin, Ethereum, BCH, Ripple, and Litecoin. It allows the free sale of crypto coins and a flat fee of 0.25 percent for transactions. Withdrawals can be rendered via Payment Gateways, NEFT, IMPS, and RTGS.
- They ensure a maximum of 30 minutes as the duration of the sale during the trading period.
- Bitmax, an exchange headquartered in Singapore, keeps hands with this exchange site.
- Giottus helps you to exchange INR cryptos.
There might be a chance of losing your money.
Official Link: GIOTTUS
Bitbns, which came in 2017, is an Indian-based cryptocurrency exchange that began with IIT graduates. It’s a peer-peer (P2P) sharing site to offer and take bitcoins. The P2P model allows users to purchase and sell cryptocurrency without the intervention of a third party. Bitbns requires its clients to complete the KYC and then begin trading with them.
- High-quality encryption for all your transactions and funds.
- Creating an account and keeping your crypt is free of charge.
- Automated Purchase and Selling
- Instant deposit and withdrawal.
- Customer Support 24×7.
- Margin trading: lending and borrowing funds.
Your money might get stuck.
Official Link: BitBns
Local Bitcoin originally is a BTC start-up company from Finland. The exchange facilitates OTC trading of local bitcoin currency. Local bitcoins is a P2P trading exchange. They support every payment method and also allow traders from different countries to purchase bitcoin for their local currency. In India, LocalBitcoins operates in all major cities including New Delhi, Kolkata, Ahmedabad, Surat, Chennai, Hyderabad, Chandigarh, Pune, Guwahati, and many others.
- LocalBitcoins allows you to trade directly with another person, making the whole process quick.
- LocalBitcoins payment method supports a wide range of payment methods, such as credit/debit, UPID, net transfers, and many more.
They don’t support altcoin exchange.
Official Link: LocalBitcoins
CoinDCX was launched in 2018. It is one of India’s most popular cryptocurrency exchanges. This exchange is supported by INR as the Fiat currency. In just two years it became one of the best platforms to allow direct deposits and withdrawals from bank accounts.
CoinDCX also supports 200+ cryptocurrencies, including important ones such as Bitcoin and Ethereum, and others such as DASH, XRP, etc. Other than bank transfers, different payment methods such as UPI and IMPS are also accepted.
- It’s got a seamless user interface
- Importantly, INR is sponsored as a FIAT currency and withdrawals may be made in INR.
- It uses a 2FA (enables 2-factor authentication) method.
- Provides higher liquidity to digital assets.
You can only trade in INR.
Official Link: CoinDcx
Zebpay was India’s leading cryptocurrency exchange until the RBI banking ban was implemented in 2018. During that time, it had more than 3 million users and reached about 2 billion dollars in fiat transactions. Zebpay resumed its trading service in India after the ban had been lifted and is currently offering BTC to INR pair trading with zero trading fees. Unlike other crypto trading platforms where withdrawals take a longer time, ZebPay supports instant withdrawals enabling Zebpay users to use their Bitcoins to make instant payments.
- Zebpay has improved security measures in place.
- Users can easily purchase BTC via their smartphones using the Zebpay mobile app.
- It’s got Robust API and Infinite Crypto Pair Possibility.
The private key of Zebpay is stored by service providers.
Official Link: Zebpay
Unocoin is one of those trading exchanges that had been heavily impacted by the cryptocurrency ban on RBI banking back in 2018. Also, Unocoin is one of the few exchanges in India that provide OTC (Over-the-Counter) service to high-volume customers. The owners of this exchange shared their excitement for business in 2018 by building India’s first Bitcoin ATM in Bangalore. This exchange was one of the first entrants to the Indian bitcoin space and also enabled traders to trade across different cryptocurrencies.
- The Exchange provides a safe forum for investors to purchase BTC using INR while matching orders with other users.
- Unocoin has launched its app that’s available on iOs and Android.
Never store a huge amount of bitcoins in Unocoin.
Official Link: UnoCoin
Wazirx is a cryptocurrency trading platform. It is one of India’s most trusted bitcoin exchange platforms. The exchange allows you to buy, trade, and sell a lot of coins like BTC, LTC, Ripple, Ethereum, and many other cryptocurrencies using Indian Rupee. WazirX has a WRX token.
Clients need to go through KYC verification to sign up on the platform.
- WazirX ensures enhanced security for clients through regular security audits.
- Wazirx can handle millions of transactions.
The company doesn’t provide an intraday trading facility.
Official Link: Wazirx
If you’re a beginner then Kraken is an ideal bitcoin trading platform for you. They will initially guide you to get used to cryptocurrency and trading rules and you will become an expert in no time. Kraken manages capitals with an exclusive solution that provides support to all large investors.
- Kraken is a useful platform for experts and newcomers alike. In addition to simplicity, it offers portfolio management that helps to keep track of your profile.
- It also focuses on ensuring the highest quality of safety and security for its users to prevent fraud and hacking.
They hold the key to the crypto address of your account.
Official Link: Kraken
Leading PCEX cryptocurrency exchange is one of India’s most common and trusted trading platforms for bitcoins. PCEX Participant earns zero payments as a producer and a taker fee. Traders have a wide range of cryptocurrency options, such as BTC, LTC, BCH, ETH, and many more that use Indian rupees. Other options for BTC are USD, USDT, and C2USD.
- The franchise business model guarantees high-liquidity transactions that are profitable for both traders and investors.
- The company does not charge any secret fees for the purchase of Bitcoin using this exchange.
You can only trade in INR.
Official Link: PCEXMember
More News: Financial Solving
So, these are the top 10 cryptocurrencies or bitcoin exchange platforms in India. We hope that you find them useful and informative on all bitcoin exchange platforms.