Introduction
Are you looking for a cryptocurrency exchange in India? The cryptocurrency platform is gaining popularity rapidly, and people are willing to invest in it. The financial industry is entering a new frontier with cryptocurrency trading, and you must have the tools available to take full advantage of this new environment. Therefore, the cryptocurrency trading app is one of the most crucial tools.
Our Top Picks
Best Cryptocurrency App -
Best Application for Investments -
What is a Cryptocurrency, And How Does It Work?
Without the assistance of a central monetary institution like a bank or the government, it is possible to trade a digital asset known as a cryptocurrency (crypto). Cryptocurrencies are created using cryptographic techniques, allowing users to buy, sell, and exchange them without risk.
Blockchain is a method that underpins Bitcoin and the majority of other cryptocurrencies, retaining a tamper-proof record of all transactions and ownership information. Blockchain technology solves the issue of prohibiting individuals from duplicating their assets and trying to use them twice, which plagued earlier attempts to establish solely digital currencies.
Individual cryptocurrencies can be called coins or tokens, depending on how they are utilised. Some can be used to engage in specialised software programs like games and financial products, while others can be used as stores of value or as units to exchange goods and services.
List Of Best Cryptocurrency Exchange Apps In India
Bitget is the best cryptocurrency exchange for users to buy and sell crypto in India. The exchange has a $300 million protection fund to insure user's assets and has implied mandatory KYC to keep genuine traders on the platform. With low fees and 800+ cryptos, Bitget is the top choice for beginners and professionals.
App Name -
Feature List
INR corridors: Buying and selling crypto with P2P INR, bonus INR trading options and easy debit/credit card crypto purchases
24/7 customer support and issues can be reported in telegram group for priority cases
Easy-to-use for new users and professional traders can use advanced options
Over 115K professional traders to copy-trade crypto strategies
Fees (Maker/Taker)
0.1% on Spot trading
0.2% for Futures trading
20% discount with BGB token
Top Cryptocurrencies Available - 800+
Minimum Investment Required - Rs. 500
Why do we pick?
Bitget stands out in terms of safety and security for users to invest in crypto wisely. It has INR and multiple currencies to buy/sell crypto. It’s the fastest-growing exchange with high-end product releases.
Rating - 4.8
Expert Reviews
Easy to use for new users, great advanced features for pro-traders plus high safety and security.
Pros
Simplified registration process
Supports 800+ currencies
Provides extra security layers in P2P
24/7 customer and community support
CeFi and DeFi ecosystem with Bitget wallet
Low transaction fees and 20% discount for BGB users
Cons
Overwhelming for new users
With over 2 Million Users, Mudrex is the top crypto investing app in India for its simplicity and variety. With over 350 coins and tokens available, investing and crypto exchange are quick and easy. It offers a range of trading instruments, such as spot and futures, along with theme-based crypto indexes for portfolio diversification; it caters to both beginners and professional traders.
App Name -
Feature List
Trade Crypto Futures: Perpetual futures on Bitcoin, Ethereum and 50+ coins with up to 20x leverage and strategic order types.
Diverse Range of Listed Coins: 350+ tradable cryptocurrencies from Bitcoin, Ethereum to other popular coins like Dogecoin.
Portfolio Diversification: Mudrex offers expertly curated thematic-based crypto indexes called Coin Sets
Simplified Options Trading with Bit15: Bit15 for predicting Bitcoin’s short-term price movements within 15 minutes to earn up to 5x.
Robust Security: Advanced security measures with 2FA, biometric authentication, and AES-256 encryption.
Instant Deposits and Withdrawals: Easily Convert INR to crypto instantly with UPI and bank transfers.
Detailed Crypto Insights: Comprehensive fundamental and technical analysis for each coin to make informed investment decisions.
Earn Additional Returns: Stake 40+ coins with no lock-in period for passive rewards.
Effortless Crypto Tax Reporting: Mudrex has partnered with ClearTax and KoinX to simplify crypto tax reporting, allowing users to import data, generate reports, and get portfolio insights easily.
Expert Crypto Support: Free, personalised 24/7 support for all crypto-related queries.
Fees (Maker/Taker)
Spot trading - Maker Fees: 0.25% / Taker Fees: 0.25%
Futures trading - Maker Fees: 0.1% / Taker Fees: 0.1%
Minimum Investment INR 100
Top Cryptocurrencies Available
150+ (350+ tradable cryptocurrencies from Bitcoin, Ethereum to other popular coins like Dogecoin.)
Minimum Investment Required
Minimum investment: 100 INR
Minimum deposit to start investing: 500 INR
Why do we pick?
Mudrex stands apart from other platforms because it lets users invest their money into coins and helps generate long-term wealth. Their flagship product, Coin-Sets, is a basket of cryptocurrencies based on themes from the crypto-verse. Mudrex also offers expert-curated "Coin Sets" for diversified investing, reducing risk and making it stand out as the best crypto app in India.
Rating
4.2 / 5
Expert Reviews
Perfect for newbies and experienced investors to invest and grow wealth
Pros
Coin Sets: Thematic crypto baskets let you invest in sets of cryptocurrencies with one click at no additional cost.
Vault: Earn 10% interest on your crypto investments
Intuitive UI and exhaustive knowledge base.
Secure, Fast, and funds insured by Lloyds London.
Cons
Not suitable for professional traders
3. WazirX
This is undoubtedly one of India's most rapidly expanding bitcoin exchange applications. This enables users to purchase a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and others.
App Name - WazirX
Feature List
Start with the lowest price.
Within 2-4 hours, account verified
User-friendly to beginners.
Trade all altcoins directly.
Fees (Maker/Taker) - 0.2%/ 0.2%
Top Cryptocurrencies Available - 200+
Minimum Investment Require - Rs. 100
Why do we pick?
WazirX, one of the most dedicated and fastest-growing cryptocurrency exchange apps? It offers a wide range of coins and trading pairs at competitive trading fees.
Rating - 4.5
Expert Reviews
Investors seek the lowest trading costs for stablecoins and other cryptocurrencies.
Pros
India’s first automated P2P trading platform
Friendly customer service
Cons
It lacks margin trading.
It only supports 8 coins by P2P.
4. Binance
One of the crypto platforms in India is Binance. Trades are charged usury fees, and the platform supports 600 coins.
App Name - Binance
Feature List
Meagre trading fees (just 0.1%)
Instant account verification
User-friendly for newbies and experts alike.
95% cold storage policy keeps your crypto extra secure.
Fees (Maker/Taker) - 0.1%/0.1%
Top Cryptocurrencies Available - 600+
Minimum Investment Require - Rs. 100
Why do we pick?
With over 9 crore registered users, Binance contributes to the high level of security for user funds.
Rating - 4.9
Expert Reviews
A crypto exchange that never touches investors' funds as a method of trading altcoins.
Pros
Educational resourcesavailable
Lower Fees
Cons
Not available in all states
25% off trading fees if you pay with Binance Coin (BNB)
Lack of information on security
5. CoinSwitch Kuber
The goal of CoinSwitch Kuber is to democratise cryptocurrency investment. Like Krypto, over 150 nations value this Bitcoin trade tool, including India.
App Name - Kuber
Feature List
Zero trading fee
Powerful mobile app
Fast customer service.
Minimal price
Fees (Maker/Taker) - 0.1%/ 0.1%
Top Cryptocurrencies Available - 90+
Minimum Investment Require - Rs. 100
Why do we pick
CoinSwitch Kuber is ideal for novices because it has no trading fees on all Bitcoin transactions. Users may trade over 80 cryptocurrencies for as little as INR 100. With this platform, you can exchange INR for cryptocurrencies as well as trade cryptocurrencies against cryptocurrencies.
Rating - 4.0
Expert Reviews
Investors seeking an anonymous cryptocurrency exchange to trade their altcoins on.
Pros
Easy-to-use interface
Instant buy, sell, & Withdrawal
Free deposit and withdrawal.
Cons
No margin for training & staking
6. Zebpay
Another country's earliest bitcoin trade app is Zebpay. It's that easy to sign up - just provide your KYC! The fact that this program has a "refer and earn" option is intriguing.
App Name - Zebpay
Feature List
Start with the lowest price.
Within 2-4 hours, account verified
User-friendly to beginners.
Trade all altcoins directly.
Fees (Maker/Taker) - 0.15%/0.25%
Top Cryptocurrencies Available - 100+
Minimum Investment Require - Rs. 100
Why do we pick?
ZebPay is well-known among crypto investors for paying interest on idle crypto assets. For lending crypto, it guarantees a set return of 4%. The exchange currently supports over 100 million registered customers. It uses cryptocurrency on its platform.
Rating - 4.5
Expert Reviews
Investors seek the lowest trading costs for stablecoins and other cryptocurrencies.
Pros
Strong safety measures
No fee trading on select pairs.
Attractive rewards and referral programs.
Cons
No real-time chatbox option
Not user-friendly
7. Unocoin
This cryptocurrency exchange claims to be India's first crypto asset and blockchain enterprise. It is proud to have over a million investors now. Investors get access to hundreds of cryptocurrencies.
App Name - Unocoin
Feature List
It charges exorbitant trading fees.
High withdrawal fees
Oldest crypto exchange in India
Fees (Maker/Taker) - NIL/0.3%
Top Cryptocurrencies Available - 80+
Minimum Investment Require - Rs. 1,000
Why do we pick?
The UnoCoin exchange is one of the central and oldest exchanges for buying, selling, and storing Bitcoin or other merchant processing services. On this site, users may trade in 80 different types of digital currencies. Users receive free Bitcoins and get 15% back in trading commissions when they sign up.
Rating - 4.5
Expert Reviews
New investors are looking for a starting point in cryptocurrency.
Pros
Customers can keep Bitcoin as a mortgage in USD or INR against it.
It will enable users to choose SBP to increase their returns.
Discounts on Refers and Earn
Cons
Less number of coins to choose
8. CoinDCX
One of India's most flexible cryptocurrency trading platforms is CoinDCX. Its security feature is undoubtedly noteworthy. This is because users must authenticate themselves before they can engage in trading.
App Name - CoinDCX
Feature List
Supports over 100 cryptocurrencies.
Account verification in a flash
Policy of 95% cold storage
Fees (Maker/Taker) - 0.2%/0.2%
Top Cryptocurrencies Available - 340+
Minimum Investment Require - Rs. 100
Why do we pick?
It is the safest platform for trading in India. This platform offers many cryptocurrency-related goods and services, including staking, futures trading, lending options, and margin trading.
Rating - 4.5
Expert Reviews
Long-term investors who want to buy and hold cryptocurrencies.
Pros
Robust Security
Futures trading allows for 15x leverage.
Free deposit and withdrawal fees
Cons
Only supports INR as a fiat currency.
The recent hike in trading fees from 0.1% to 0.2%.
9. Bitbns
This cryptocurrency trading software, which is accessible on Android and iOS, allows users to purchase and trade cryptocurrencies without the participation of a third party.
App Name - Bitbns
Feature List
Supports 10 cryptocurrencies.
Designed for beginners
Instant deposits
95% cold storage policy
Fees (Maker/Taker) - 0.25%/0.25%
Top Cryptocurrencies Available - 390 +
Minimum Investment Require - Rs. 100
Why do we pick?
It allows customers to trade around 400 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, etc. Over 40 lakh people have registered on this platform overall. Bitbns provides significant teaching material in the bitcoin field through several research papers and the Bitbns academy.
Rating - 3.5
Expert Reviews
It's user-friendly for beginners.
Pros
Have a wide range of tokens and cryptocurrencies.
Easy to use.
Access to a wealth of scholarly reports and resources.
Cons
It doesn’t have an app.
Only Bitbns native coins can be staked. BNS
10. BuyUcoin
You can trade and store cryptocurrency assets Bitcoin, polkadot, Ethereum, and Ripple. It features real-time spot trading, a forever free wallet, cashback, and lifetime commissions when you refer friends.
App Name - BuyUcoin
Feature List
Easily registration
Offers tools for newbies.
Offers advanced charting tools for experts.
Wide range of helpful resources for beginners.
Fees (Maker/Taker) - 0.24%/0.24%
Top Cryptocurrencies Available - 130+
Minimum Investment Require - Rs. 20
Why do we pick?
BuyUCoin is popular among millennials because of its easy-to-use interface and features such as free wallets, cashback, and lifetime commissions. Over 10 lakh users have registered.
Rating - 3.5
Expert Reviews
Seasoned traders desire strong charting skills.
Pros
Low Fees
Cons
Uninspiring website interface
No leveraged trading.
11. Capital
The capital enables users to trade cryptocurrency alongside stocks, commodities, currencies, market indexes, ETFs, and other assets without incurring trading costs.
App Name - Capital
Feature List
Excellent desktop trading platform.
Completely functional
Allows for up to 500x leverage (2x leverage on crypto).
ASIC (Australian Securities and Investments Commission) licensing
Information security standards are exceedingly high, as evidenced by ISO 27001 certification.
Fees (Maker/Taker) - 0.1%/0.3%
Top Cryptocurrencies Available - 100+
Minimum Investment Require - Free
Why do we pick?
Capital charges a tight spread of 0.1% - 0.3% (depending on the asset), resulting in a very cheap total cost of utilising the platform (0% trading fees + 0.1% - 0.3% spreads).
Rating - 4.9
Expert Reviews
Investors are seeking a no-commission trading environment for cryptocurrencies.
Pros
Secure Account
Investing is free.
Verified under ISO 27001
Cons
The verification process takes a long time.
12. KuCoin
Kucoin is a safe, feature-rich, easy-to-use trading and cryptocurrency exchange platform with a wide range of digital assets and a low fee structure. It is a top choice for many Indian investors and traders who want to trade frequently.
App Name - KuCoin
Feature List
Supports various fiat currencies like BTC, ETH, USDT, ADA, XRP
Supports NFT trading
20% discount on trading fees while using KuCoin token (KCS)
Easy account setup: Email/phone registration, security settings, anti-phishing steps.
Standard security measures, like identity verification, trading passwords and anti-phishing phrases.
KuCoin crypto assets are secured by Onchain Custodian and Lockton, a Singapore-based crypto asset security platform and a private insurance brokerage.
Fees (Maker/Taker)
Maker: 0.005-0.1%
Taker: 0.02-0.1%
Top Cryptocurrencies Available - 700+
Minimum Investment Required - $1 or INR 82
Why do we pick?
For multiple transaction methods, hassle-free KuCoin account opening and operation, and low transaction fee
Rating - 4.3/5
Expert Reviews
If you want to trade anonymously, KuCoin is a good choice as it does not require KYC verification. The platform simplifies usage for novice and expert users, but the advanced version of KuCoin could be confusing.
Pros
Advanced security features
Quick & efficient customer support
User-friendly Interface
Cons
KuCoin was hacked in 2020, but almost all the stolen assets were recovered and offered compensation for the missing assets.
13. Bybit
Bybit is a growing cryptocurrency exchange application. It offers easy access to the most popular cryptocurrencies, copy trading, decentralised Web3 features and an NFT marketplace. The application also helps optimise your trading efficiency by following the strategies of experienced traders. Moreover, it sends notifications immediately when cryptocurrency prices reach your preset levels.
App Name - Bybit
Feature List
10M global users
270 spot assets
200 derivatives contracts
Bybit Asset Management
Copy Trading
Real-time Alert
Fees (Maker/Taker)
Maker: 0.00-0.20%
Taker: 0.10-0.55%
Top Cryptocurrencies Available - 250+
Minimum Investment Required - $5 or INR 413
Why do we pick?
For supports all popular cryptocurrencies, offers multiple trading options, an efficient asset management system for steady interest and profit, real-time alerts, easy transactions, and security assurance
Rating - 4.2/5
Expert Reviews
If you are looking for a reliable and user-friendly platform to trade with popular cryptocurrencies and NFTs using copy trading methods, Bybit would be a good choice.
Pros
User-friendly interface
Secure fund protection
Interest-earning options
Cons
May not be suitable for beginners
14. Crypto.com
Crypto.com is an easy-to-use trading platform with various NFTs and cryptocurrency options. Moreover, you can create your own NFTs on Crypto.com's native blockchain, Cronos. It allows you to connect multiple digital wallets for easy and seamless transactions. DeFi wallet, among them, is special, as it will give you token rewards that you can use on other decentralised finance applications based on blockchain technology.
App Name - Crypto.com
Feature List
All NFTs on Crypto.com are verified
270 Supported cryptos
31 Fiat currencies
Purchase cryptos or stablecoins with your credit/debit card or bank transfer
Free bank transfer
Earn up to 6.5% per annum (p.a.) on your crypto; 12% p.a. on stablecoins
Get a Metal Visa Card (up to 8% Rewards back)
Deposit crypto, get an instant loan
Fees (Maker/Taker)
Maker - 0-0.075%
Taker - 0.05-0.075%
Top Cryptocurrencies Available - 250+
Minimum Investment Required - $1 or INR 82
Why do we pick?
Crypto.com is one of the best NFT exchange platforms with the industry's largest selection of cryptocurrencies.
Rating - 4.2/5
Expert Reviews
For traders looking for a wide variety of cryptocurrencies to diversify their portfolios, Crypto.com would be an excellent choice to consider for them. In addition to staking rewards on more than 20 coins, you’ll also enjoy free bank transfers.
Pros
Verified creators and collections
NFTs can be purchased using Crypto & fiat payments
Compatible with mobile/web browser
Less risk of NFT fraud and scam
Cons
Poor customer support
Payouts need approval for NFT sales
15. Kraken India
Kraken is another of the best trading and cryptocurrency exchange applications that offers a dedicated tool for tracking and trading cryptocurrencies. With its’ free service, you can set prices easily, monitoring market trends and price movements across various platforms. You can even set price alerts to get notifications when a particular price is reached. You must upgrade to the paid plan if you want more timely alerts to increase your profit.
App Name - Kraken India
Feature List
Cryptowatch, a tool for tracking and trading cryptocurrencies
Allows margin trading with up to five times leverage
Supports USD, AUD, CHF, CAD, EUR, GBP, and JPY fiat currencies
Supports most popular cryptos, like ADA, BCH, ETH, LTC, etc
Multi-layered security features, 2FA withdrawal email confirmation, precise API key permission control, SSL encryption, air-gapped cold storage, etc
Fees (Maker/Taker)
Maker: 0.00-0.16%
Taker: 0.10-0.26%
Top Cryptocurrencies Available - 200+
Minimum Investment Required - $10 or INR 820
Why do we pick?
For enhanced currency options, trading options, low fees and strong security protection
Rating - 4.1/5
Expert Reviews
Kraken allows you to trade cryptocurrencies with borrowed money, up to 5 times the amount of your own money. It offers an easy user experience on desktops and mobile devices. The strong security is a bonus for large-sum investors, but the added precautions complicate the UI for novice traders.
Pros
Supports fiat currency
Low fees
Enhanced security features
Cons
Long verification times
16. Giottus
Giottus is lesser-known than many but is India's top cryptocurrency exchange platform. If you want to invest long-term, the Crypto thematic basket investing plans, fixed deposit plans and SIPs of Giottus are good choices to consider. The liquidity is high, so you can sell or buy assets quickly and easily without affecting their price.
App Name - Giottus
Feature List
Supports only INR as a fiat currency
Investment via SIP, fixed deposit of cryptocurrencies with up to 25% interest
Supports NEFT, RTGS and IMPS deposit
All set to launch NFT and lending services
Fees (Maker/Taker)
Maker: 0.3-0.4%
Taker: 0.3-0.4%
Top Cryptocurrencies Available - 150+
Minimum Investment Required - INR 100
Why do we pick?
For user-friendly behaviour, reliable customer support, high-end security, lower fees than other Indian currency exchange platforms, and support for all top cryptocurrencies.
Rating - 4.7/5
Expert Reviews
You can earn passive income by staking your crypto coins. The interest may go up to more than 10%. You can also earn tokens from refer and earn schemes.
Pros
Multilingual crypto mobile app
Interactive interface with handy tools, like real-time order books, trade history, charting tools, etc.
Cons
No margin trading and crypto lending
17. BITmarkets
BitMarkets offers versatile trading and exchange options for all top cryptocurrencies with competitive fees. It provides user-friendly tools, top-notch security measures, and informative resources, making it a reliable trading platform for beginners and experienced traders.
App Name - BITmarkets
Feature List
Tools for crypto portfolio management, including market insights, automatic purchases, and price alerts.
Crypto Tracker and dashboard with intuitive interface
Bitcoin Ticker allows staying updated on the latest trends and movements of the Bitcoin and other currencies in the crypto market
Real-time price alerts
Fees (Maker/Taker)
Maker: 0.00-0.5%
Taker: 0.00-0.5%
Top Cryptocurrencies Available - 100+
Minimum Investment Required - INR 500
Why do we pick?
For low fees, versatile funding options, top-notch security standards and handy tools like Bitcoin Ticker, Portfolio Management, Real-time Price Alerts, etc
Rating - 4/5
Expert Reviews
It lacks some advanced features and may not be suitable for those seeking an extensive coin selection.
Pros
Transparent pricing
24/7 multilingual customer support is available via video call, phone and email
Efficient portfolio management
Cons
No option for margin trading, crypto lending and staking
18. Krypto
Krypto is a trusted trading platform that lets you buy and sell cryptocurrencies in India at the best prices. You can compare prices from different exchanges and access their liquidity without paying any fees.
App Name - Krypto
Feature List
Supports 100+ cryptos like Bitcoin, Ethereum, Ripple, etc
Krypto Pay simplifies cryptocurrency payments to vendors
Provide access to the pooled liquidity of the leading crypto exchanges
Fees (Maker/Taker) - Free
Top Cryptocurrencies Available - 100+
Minimum Investment Required - INR 50
Why do we pick?
For pooled liquidity, zero trading fees, fast trading and exchange of crypto to INR and vice-versa, top-notch security and customer support
Rating - 3.7/5
Expert Reviews
If you’re an Indian cryptocurrency enthusiast looking for a cost-effective platform for easy trading, payments, and peer-to-peer transactions, Krypto is a good choice.
Pros
Instant fiat deposits and withdrawals free of cost
Fast KYC process
Zero trading fees
Cons
Lacks margin trading and some advanced features like limit orders
19. MEXC
Like ByBit and KuCoin, MEXC is another of the best crypto leverage platforms, offering up to 125x leverage and supporting more than 1,520+ cryptocurrencies and 2,110 trading pairs. MEXC puts customers first, so it prioritises their satisfaction, privacy, and anonymity.
App Name - MEXC
Feature List
Spot trading, margin trading, futures trading and derivatives trading
Staking is available for many popular cryptocurrencies, like BTC, ETH, DOT, etc
Available Fiat currencies: USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
No KYC required
Fees (Maker/Taker)
Maker: Free
Taker: 0.1%
Top Cryptocurrencies Available - 1520+
Minimum Investment Required - No minimum investment required
Why do we pick?
For a wide range of markets and cryptocurrencies, versatile trading options, fast and accurate charts, an intuitive interface and multilingual customer support
Rating - 4/5
Expert Reviews
MEXC is a versatile crypto trading platform that provides access to a versatile trading market in one place. With a customisable, fast and accurate chart, it’s easy to find the best trading options, making it suitable for experienced and novice traders.
Pros
Quick and anonymous registration, as no identity verification is required
Earn reward by staking a few selected cryptos
Free spot trading
Cons
A limited number of cryptos are available for quick purchase
20. Coinbase
Coinbase is another best trading platform that supports all popular cryptos, like ADA, BTC, ETH, DOT, etc. and comes equipped with advanced trading tools that help you make the best information-rich trading decisions. If you’re interested in the Web3 ecosystem, you’ll appreciate the Dapp browser and MPC wallet, enabling you to explore NFTs, DeFi, and more. Whether you’re experienced enough or new to the trading industry, Coinbase is always a trustworthy choice.
App Name - Coinbase
Feature List
Allows users to hold above 4,000 cryptocurrencies, crypto tokens and NFTs in their wallet
TradingView tool provides fast and accurate charts and in-depth technical analysis.
Advanced real-time order books
The information hub provides real-time updates about prices and the latest crypto news
Fees (Maker/Taker) - 0% - 3.99% (Varies by type of transaction)
Top Cryptocurrencies Available - 250+
Minimum Investment Required - $2 or 165 INR
Why do we pick?
For automated trading options, crypto staking facilities, versatile cryptos and wallet types, live customer support and top-notch security
Rating - 3.3/5
Expert Reviews
Coinbase is a good choice for those seeking a diverse trading platform. Its complicated fee structure may be challenging to understand for novice traders. Still, the easy entry point with a low account minimum of $2 and an educational resource makes it suitable for beginners.
Pros
Quick crypto withdrawals
Several crypto wallet options
Attractive rewards and referral programs
Cons
High staking commissions
What Are The Different Types Of Cryptocurrency Exchanges?
Centralised Exchanges or CEX
The most popular sort of platform for crypto trading, these exchanges provide quick, straightforward procedures combined with a very user-friendly layout. As the name implies, a single body governs and controls these exchanges.
To prevent inconsistencies, the business records and validates every order or transaction. The user deposits money into a wallet that the CEX manages. Additionally, the user must comply with the KYC standards, which involve sharing personal data, to establish an account here.
Decentralised Exchanges Or DEX
These exchanges are genuinely decentralised because no company or institution regulates them. A decentralised application and intelligent contracts execute the trades on the exchange. However, no KYC or personal information is required. A DEX is more secure since it is automated and backed by smart contracts written with security checks in mind. A DEX's interface differs from a CEX’s, which generally affects its speed and volume. CEXs may prove more beneficial for beginners than DEXs for experienced traders.
Hybrid Exchanges Or HEX
Both centralised and decentralised exchanges offer advantages that hybrid exchanges do not. It's still early days for a hybrid cryptocurrency exchange. It preserves anonymity and security, precisely as decentralised exchanges do, yet has the liquidity feature of centralised platforms. One of the most noticeable elements of HEX trading is the absence of taker and gas costs.
What To Look For To Pick The Right Indian Crypto Exchange?
Supported Coins:
The best cryptocurrency exchanges provide a wide selection of tradeable coins, enabling investors to maximise their profits by trading different crypto assets.
User Interface:
The exchange's user interface must be tested for safety. Mobile and web application security is a top priority. Digital tokens are susceptible to theft and hacking, so they shouldn't be disregarded.
Fees:
Every crypto exchange will charge the same fees. However, the charges and the level they cut into your revenue will vary from sale to sale. A transaction charge of 0.2% or less will often be found on the best platforms. Before deciding on a crypto exchange, you should examine the trading, deposit, withdrawal, and balance transfer fees.
Regulation
A well-regulated exchange is much safer to use than one that isn't, making it one of the most crucial factors to consider when selecting an exchange.
Deposit And Withdrawal Options:
To make it simple for investors to transfer money into and out of their accounts, crypto exchanges should accept various payment options.
Account Security:
It is advisable to choose crypto exchanges that use multiple layers of security, such as two-factor authentication and a cold storage rate of 95% or greater.
Customer Support:
Ensure you have various payment methods, 24x7 customer support, a mobile phone application, etc. Investing/trading can be made more enjoyable by these small features. Also, look at customer reviews and ratings for mobile applications. The quality of the service will be evident from this.
Cryptocurrency Exchanges Charge Different Fees
Different cryptocurrency exchanges in India impose varying prices. Here are the various expenses entailed:
Joining Fee:
In India, most cryptocurrency exchanges offer free registration, including Mudrex, WazirX, ZebPay, and Bitbns. Inactive accounts may be charged a minimal fee.
Deposit Fee:
Crypto exchanges charge this fee when users deposit money to initiate buying or selling. Users can transfer money via payment service providers, Mobikwik, crypto wallets, UPI, net banking, or bank transfers to determine the deposit fee amount.
Trading Charge:
Cryptocurrency exchange fees are mainly composed of trading charges. A trader may be charged a flat percentage or a charge depending on the orders, such as making and taking orders. We must first understand the Maker and Taker fees before moving forward.
Withdrawal Fee:
Some exchangers charge users when they withdraw money from a fiat currency. When a user makes a sell order on the exchange, the money is available for withdrawal once it appears in the user’s wallet. The users may be charged for full or partial withdrawals from their registered bank. The user may also withdraw coins, which come as a penalty.
Frequently Asked Questions:
1. How to purchase cryptocurrency in India?
You need a cryptocurrency exchange to buy and sell crypto coins to own a cryptocurrency. Once you've chosen a business, you must fund your account to begin trading cryptocurrencies. Regulatory issues in India have disabled UPI and Mobikwik payments. You can deposit via bank account, net banking, and P2P transfers. You can buy your favourite coin quickly and easily once your account is credited with the money.
2. Is it possible to convert cryptocurrency into cash?
Yes! Users can easily convert fiat money to cryptocurrency with an exchange platform.
3. Best Bitcoin trading app
If you are looking for the best Bitcoin trading app, you must go for Mudrex, Zebpay, Unicoin, WazirX, and Bitbns.
Conclusion:
A different option for making passive money at home is trading digital currencies. Most individuals use mobile applications to trade cryptocurrency since they can do it on the go. When selecting the best cryptocurrency trading software, consider the costs, spreads, acceptance of deposit options, and liquidity.
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