Best Crypto Exchange in India – List of Top 5 in 2022

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best crypto exchange in India

Cryptocurrency enthusiasts in India are more passionate than ever to capitalize on the growth potential of digital assets. Despite the bearish crypto market phase and recent tax burdens, the crypto craze is on the rise, where more and more crypto exchanges are coming into the picture to accommodate the rising number of traders.

That said, choosing the right crypto exchange is crucial for traders to navigate safely in this risky and volatile sphere. Not all crypto platforms providing services in India are the same; they significantly differ from each other according to the quality of their services and the variety of features. Listed coins, fees, transparency, and security hold the highest weight in defining the suitability of an exchange. 

In this article, we have assembled a list of 5 reliable platforms to help you access markets with the best crypto exchange in India. 

1. CoinDCX

Founded in 2018, CoinDCX is the best crypto trading app in India, with over 1.3 crore Indian users and 200+ listed coins where you can start with as low as 500 INR. The exchange offers multiple crypto solutions, including user-friendly crypto investing app, advanced trading products, crypto educational courses, and a CoinDCX Venture program to support Web 3.0 start-ups. Moreover, CoinDCX supports:

  • Instant buying and selling (exchange) of a large range of cryptocurrencies. 
  • Margin trading with up to 6x leverage on 250+ cryptos. 
  • Futures trading with up to 15x leverage.
  • ETH2, EOS, NEO, ONE, QTUM, TRX, and XTZ staking with up to 20% yearly rewards. 
  • Crypto lending for earning up to 16.25% of annual fixed interest.

Moreover, the platform maintains an easy and fast payment system to fully facilitate Indian investors, allowing them to deposit via NEFT, RTGS, IMPS, and P2P services. CoinDCX provides free INR deposits and withdrawals but charges a maker/taker fee for margin trading, which gradually reduces as per the volume levels. 

Most importantly, the exchange incorporates a multi-layer security structure with deep encryption where 95% of funds are stored in multi-sig cold wallets. Moreover, CoinDCX extends specialized liquidity services for large trade orders worth ₹ 30,00,000 and above, delivering better and locked prices. 

ProsCons
Both exchange and derivative trading services with fast executionLevel 1 is charged with a 0.2% maker/taker fee
Crypto lenders are protected with a 100 million USD insurance policy.Only INR is supported as the fiat currency
Free deposits and withdrawals

2. WazirX

WazirX is one of India’s most popular and trusted crypto platforms, where you can buy, sell, and trade digital assets with lightning-speed transactions. This crypto service can be accessed on multiple devices including Web, Android, iOS, Windows, and Mac, hence delivering an overall seamless user experience. 

The exchange lists a large number of cryptos paired with INR/USDT/WRX (native WazirX token)/BTC on its spot trading platform. All spot exchanges are charged with a 0.2% maker/taker fee, but WRX pairs are exempted from all fees. Moreover, WazirX incorporates a safe p2p exchange platform with an auto-matching engine and zero fees, facilitating the easy buying and selling of fiat & USDT. Further, with the referral program, members can earn up to 50% of trading fees paid by the referrals as a reward.

WazirX is considered the best crypto exchange in India due to its simplified trading interface, instant 8 P2P exchange options, and feature-rich mobile app with live market charts & swift buy/sell options. Also, the platform boasts a best in class security with 2FA security of accounts and fast KYC verification procedures. 

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ProsCons
Holds a partnership with Binance – the world’s leading crypto exchange  INR deposits via UPI and net banking are currently disabled. Only USDT can be bought using P2P.
Facility of instant INR withdrawals of up to 1 lakh per day.Significantly high fees or commissions on crypto withdrawals 
Free and instant p2p exchange No margin trading, lending, and staking 

3. Bitbns

Bitbns is another best crypto trading app in India with a plethora of features and services for all kinds of crypto traders. The platform accommodates more than 394 digital coins, a robust security structure, extra downside protection, and average daily volumes of nearly $22.5 million. Bitbns supports:

  • Quick swap where you can instantly exchange (buy/sell) cryptos for USDT or INR. 
  • Margin trading, futures trading, and options trading (testnet).
  • USDT peer-to-peer trades. 
  • Different fixed deposit programs to earn up to 40% APY. 
  • Ascent – a decentralized token launchpad platform that allows you to raise funds for new projects.
  • Bitdroplet program that lets you start a SIP in Bitcoin from as low as $1 per day.
  • An exclusive EAL 6+ certified Bitbns hardware wallet compatible with multiple cryptocurrencies, staking, NFTs, DeFi, and dApps. 
  • BNS staking to grab crypto at discounted rates. (Note that Bitbns is powered by a native token called BNS that has multiple use cases in day-to-day transactions and complex operations like banking, crypto investments, and lending. With BNS, users can also enjoy lower maker/taker spot trading fees as per their VIP level)

The platform charges no fees on INR deposits and withdrawals, whether they are made via UPI, Bank, or P2P. Only instant withdrawals are charged with a small fee of 4-9 INR. Bitbns also includes predict & win contests, Sprink vouchers, and a “Referral program” through which you can get 50% of the trading fee from each person you refer. 

ProsCons
A wide variety of digital coinsSignificantly high trading (0.25%) and crypto withdrawal fees
Fast and zero-fee INR deposits and withdrawalsOnly BNS staking is supported
Special hardware wallet for enhanced security Only supports INR as fiat currency

4. CoinSwitch 

Established in 2017, CoinSwitch Kuber is one of the largest crypto exchanges in India, with over 18 million verified users and 90+ supported coins. The platform integrates an easy-to-use layout and simple features suitable for beginner investors, allowing them to get started with as low as 100 INR. CoinSwitch is available on both Android & iOS and supports INR to crypto, crypto to crypto, and crypto to INR exchanges. Members can make free deposits via the multiple available methods, including NEFT, RTGS, and IMPS. 

Moreover, the exchange accommodates a Crypto Rupee Index (CRE8) that reflects the Indian crypto market conditions. It is calculated on the basis of the top 8 crypto assets by market capitalization listed on the CoinSwitch platform, and they can neither be a stable coin nor a derivative of the existing index component. 

Further, this crypto service offers a Systemic Investment Plan (SIP) which is based on the rupee cost averaging method. With this plan, you can invest a fixed monthly amount in Bitcoin to counter the volatility of the crypto market. CoinSwitch also assimilates a comprehensive educational section called “Switch,” enlisting a number of informative articles, price analysis reports, and crypto-related videos.

Overall, CoinSwitch holds a solid place as the best crypto exchange in India as it is designed specifically for Indian residents where they can enjoy deposits and withdrawals in the local currency, instantly trade crypto and participate in SIP amid secure conditions. 

ProsCons
Instant buying and selling of cryptos Trading fees are not clearly mentioned on the website
Free deposits and withdrawals Not suitable for advanced traders as there are no in-depth charts and sufficient trading tools
An up-to-date and detailed Switch sectionOnly supports INR as fiat currency

5. Giottus 

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When talking about the best crypto exchange in India, Giottus cannot be ignored due to its user-friendly features and low-cost ecosystem. Giottus is a multi-lingual crypto trading app with a variety of crypto/INR, crypto/BTC, and crypto/USDT pairs for spot trading and a quick buy/sell facility. It is a versatile crypto space incorporating several services, such as:

  • Different crypto baskets, like metaverse-based, large-cap coins, and beginner friendly, to help you diversify your portfolios.
  • With Giottus fixed returns, you can acquire some of the industry-leading rates on your crypto deposits, such as 20% APY on USDT and 36% APY on AXS.
  • Staking on some of the most popular coins, including MATIC, ADA, and SOL. 
  • A systemic investment plan to average out the prices of assets and secure long-term returns. 
  • An interesting referral program where you can earn up to 100% of your referral’s trade fee, win up to 10,000 free tokens, and benefit from “spin the fortune wheel.” 

Besides the above-mentioned features, Giottus is soon to introduce a crypto lending service. Also, the exchange offers free-of-cost INR deposits and withdrawals that can be made using IMPS/NEFT/RTGS/UPI. Regarding trading fees, Giottus has listed a fixed 0.20% taker and maker fee; however, the maker fee for some pairs like BTC/INR and ETH/INR is zero. 

Altogether, Giottus is undoubtedly one of the best crypto trading apps in India, where you can get started with as low as Rs. 100 and efficiently experience the crypto market volatility. 

ProsCons
A broad spectrum of trading pairsNo margin trading, futures trading, or options
24/7 multi-lingual instant customer service INR is the only supported fiat currency 
Higher yields on “Earn” services like fixed deposits. Notable crypto withdrawal fees

Read more:

https://thetradingbay.com/what-is-a-crypto-wallet-6-best-crypto-wallet-picks-for-2022/

Nitish Vaibhav
Nitish Vaibhavhttp://thetradingbay.com
Nitish Vaibhav is the Founder of the The Trading Bay. A computer science engineer turned an Entrepreneur 5 years ago. He has been in trading since 4 years in Forex and Crypto using his price action strategies. Involved in Content Creation full time for 3 years, Nitish is top rated writer on many content writing websites. He is also a YouTuber in India making videos about Crypto and Forex.

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