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Top cryptocurrency exchanges in India.

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Cryptocurrency

Cryptocurrency

As the popularity of cryptocurrencies and digital currencies increase, the cryptocurrency exchanges tend to increase simultaneously. Let’s see what cryptocurrency exchange means.

What is Cryptocurrency exchange?

Cryptocurrency exchange is a platform to buy and sell cryptocurrency. Exchanges allows users to trade one crypto for another e.g. exchanging Litecoin to Bitcoin. And to buy a crypto ,fiat money like the INR (Indian Rupee) and USD (U.S. Dollar) are used. In other words Cryptocurrency exchanges are platforms which facilitates cryptocurrency trading for other assets which digital and fiat currencies are included. It is an intermediate between the buyers and sellers and get money through commissions and trading fees.

There are over 500 cryptocurrency exchanges worldwide.

How it works?

In order to buy and sell crypto you need to register first. When the Know-Your-Client(KYC) process is complete and authentication is done, you are ready to transfer funds on the platform.

Cryptocurrency exchange can be a market maker as it may ask for a transaction commission or charges fees simply.

How to trade crypto?

Crypto trade is decentralized, which means it is not backed by central authority(Government), Instead it works across network of computers. Cryptocurrencies are sold and brought via cryptocurrency agencies and they are stored in wallets.

We have Cash Apps to sell and buy crypto where some charge trading fee.

Few examples are, CashApp, PayPal, Venmo etc.

Few examples of top cryptocurrency exchanges in worldwide.

Crypto.com, GEMINI, BitMart, Bitcoiva, Kraken, Bisq, Binance etc.

Few examples of Cryptocurrencies:

Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Zcash, Stellar Lumen, Chainlink etc.

How crypto exchange is determined?

It should provide best options . Additionally it should provide other factors like accessibility, account security, etc.

Let’s look briefly:

Accessibility:

Due to some state or national regulations, some locations prevent cryptocurrency trading. In such case, you have to find information on the accessibility factors and accepted currencies in the website. Though some countries like China have no access to crypto exchanges , while countries like New York requires a Bitlicence to get operated in their state. And some countries don’t have strict regulations to get access.

Available coins:

Choose exchanges which offer more cryptocurrencies in the existing 1000 cryptocurrencies. Go for coins which has market cap and popularity. Because new coins are often riskier gambles as they competing with the well-established cryptocurrencies. Therefore pick popular exchanges.

Security:

Similarly, go for higher security along with available more coins. Since crypto value is increasing, choose an exchange which is trustable and reliable. To protect your crypto pick exchanges which provides insurance policies so that you can protect your crypto from hacks and fraud scams.

Fees and Charges:

Though picking few exchanges with best security and good user experiences gives a good start, considering fee and tax is equally important when it comes to daily investment the exchange might impact you a lot. So choose exchanges which provides low transaction fee. Some exchanges charge fee on the size of the transaction or in some case it depends on the level of activity. Hence it is important to consider the fee structure while investing.

As the popularity of cryptocurrencies and digital marketing increase, the cryptocurrency exchanges tend to increase simultaneously

Here we’ve picked you some best cryptocurrency exchanges in India.

Start trading Now, See better Future…Grow your business with exchanges…

WazirX

WazirX is one of the fastest growing exchanges in India  which has 60 lakh registered users. It provides access across platforms like android, iOS web, Window apps. Furthermore it trades with more than 450 cryptocurrencies.

Key features:

WazirX has its own cryptocurrency- WRX, Indian Rupee (INR) is used to buy this currency and can be exchanged for other cryptocurrencies such as Bitcoin, Ethereum, Dogecoin and so on.

It requires minimum investment of INR 100 to be deposited to the WazirX wallet through NEFT, IMPS and RTGS.

Peer to peer(P2P) helps the users to convert currencies instantly from fiat money into crypto.

Makes fast transactions via lightning network.

Within few hours of signing up, verification system process KYC (Know your Client)

Most secure exchange.

Super-fast experience as it has simple efficient design.

Advantages:

User friendly

Offers 450 tradable cryptocurrencies

Across 5 platforms

Features instant price alert on Weir app

Drawbacks:

Does not provide insurance claims on hack cases.

Withdrawal of funds charges trading commission.

Trading charge 0.2% which is slightly high.

Compared to international company, has less coin options.

CoinDCX :

CoinDCX is one of the safest crypto exchanges in India with more than 1.3 crore users are registered. Android and iOS has accessibility. It trades with 340 cryptocurrencies.

Key features:

Provides crypto related products and services such as trading, future and lending options too.            

95% funds are kept in multi-sig cold wallets to give a high level of security.

Minimum deposit requirement is INR 100.

Funds are insured

Advantages

Deposit and withdrawal charges no fees.

Provides Limited trading

Less transaction commission

Provides high cyber security measures.

To give complete security, funds are insured.

Drawbacks:

Opening account process is complicated.

It supports only INR as fiat money

Trading fee hiked from 0.1% to 0.2%

Bitcoiva

Bitcoiva has registered users more than 180 million  which trades with 165 cryptocurrencies. This platform is available in desktop, android and iOS     

 Key features:

Payment options of deposit and withdrawals are instant.

Through the instant swap option, users can swap currencies without any difficulty.

Provides spot trade where traders can buy/sell immediately.

Moreover it works peer to peer mode, and no intermediates are needed.

Allows to lend assets with fair interest rates.

Offers referral programs such a s rewards.

Trading commissions depend on market average.

Advantages:

User –friendly interface in browser.

Besides spot transfer, amount is also received immediately.

Provides instant swap

After completion date, locked savings will be released.

No deposit charges.

 

Bitbns

Total of 40 lakh users are registered with this platform and enables its users to trade with 400 cryptocurrencies. Bitbns is available in android, web and iOS.

key features:

Provides an option to choose standard wallet or Bitbns hardware wallet to store funds.

Provides training system for beginners.

Deposit fee is not charged on exchanges.

For orders like, bracket, limit orders, it facilitates instant price alerts.

Variety of referral programmes like contests, gift vouchers, sprink vouchers etc.

Provides margin trading options.

Let’s users automate orders with advanced tools and features.

 Advantages:

Variety of coins and tokens are available.

Provides option to store crypto in hardware wallet.

For beginners it is easy to training system.

Drawbacks:

Works across 3 platforms only.

Have only 2 fiat currency options, INR and AED

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