While the rest of the world was advancing fast in its adaption and adoption of cryptocurrencies, working out regulatory compliance and policies to make it thrive alongside fiat and other assets, India’s crypto industry was in dormancy owing to the ban imposed by the Reserve Bank of India.
That changed this year, with the country’s apex judiciary body Supreme Court, overturning the 2-year crypto ban in a landmark judgement. Since then, Indian crypto market has been buzzing with activity and not even the pandemic and the global economic downturn could put a dent on the enthusiasm of the traders.
New cryptocurrency exchanges have been popping up on the radar, with leading global exchanges initiating trading activities in India independently or collaborating with the local exchanges. Even the new crypto exchanges have been experiencing consistent trading volume surges, all attesting to one fact that crypto is booming in India.
For those who want to be part of this crypto revolution, but are skeptical as in where to start, here is a list of the top 5 cryptocurrency exchanges (both local and global) in India, to embark on your crypto journey.
WazirX is a Mumbai based crypto exchange and trading platform that was launched in 2017 by Zanmai Labs Pvt Ltd. After the ban lift the exchange has been acquired by Binance Holdings, and at present, it operates under the biggest crypto exchange in the world Binance.
WazirX launched its global operations on March, 8th of this year. Its P2P transaction engine has been integrated with the Fiat Gateway platform of Binance, enabling the traders to buy/sell any crypto listed under Binance using USDT from WazirX platform. When joining the exchange a trader can earn up to 100 WRX coins, which is the native currency of WazirX platform.
The exchange boasts of the following features:
- The platform ensures enhanced safety to the traders through regular security audits to maintain the highest standards of security
- It has an advanced identity verification system that processes KYC within just a few hours of signing up
- The exchange can handle millions of transactions in just a few seconds
- The simple design and uncomplicated interface e of the trading platform ensures seamless user experience
The crypto exchange is available on Web, iOS, Android and Windows version.
Established in 2017, PayBito is a USA based leading global exchange that recently commenced trading operations in India after the ban was lifted. With its headquarters in California, PayBito is operational across geographies, with a consistent track record of high surging trading volumes.
The crypto exchange launched its activities in India with seventy per cent market strength enabling traders to buy/sell, deposit and withdraw digital assets with INR. The exchange has leading cryptocurrencies listed in the trading platform giving people easy access to the same, allowing them to expand their trading experience and asset portfolio.
The stand-out features of PayBito are as follows:
- Multi-currency, multi-signature, and SegWit enabled exchange
- Leverages advanced security protocols, key encryption and enhanced wallet security
- Seamless trading experience guaranteed by a simple layout and user-friendly console
- Advanced features include 2-factor authentication, Firebase, BIP-32 and GA
- Pending transaction management with a block confirmation tracking
- Open order book offered to all traders
- A 3-layered augmented security system to prevent any breaches
- Higher liquidity due to integration with major global exchanges
PayBito has a team of industry veterans with extensive experience in running exchanges, blockchain and cryptocurrency technology. It is available in Web version, iOS and Android.
The Bengaluru based crypto exchange UnoCoin was established in 2013 with its key offering of Bitcoin along with few other major digital assets. The exchange has strengthened its market position globally post collaboration with Bitwage (USA) and Paycase (Canada).
Unocoin offers a secured platform to traders for buying and selling of Bitcoin using INR while matching orders with other users. It has provision for over-the-counter (OTC) trading enabling users to trade in bulk. Unocoin’s merchant gateway allows the e-commerce businesses to receive Bitcoins as payment.
The exchange boasts of its advanced security features of:
- AES-256 encryption for the security of address-private key pairs
- Multiple safe deposit locations for the storage of encryption keys
- 2-factor authentication for their UNODOX account
Unocoin has introduced new features like Bitcoin Systematic Buying Plan or SBP and Bitcoin Point of Sale feature for the enhanced trading experience of the traders. It is available in Web, iOS, and Android versions.
ZebPay started its foray into the crypto world in 2015 with headquarters in Singapore. Its Indian counterpart is based out of Ahmedabad and happens to be one of the largest and oldest crypto exchanges in India. After the crypto trading ban was imposed by RBI in April 2018, ZebPay moved to Malta temporarily. Although it was functional from Singapore and other countries, the exchange has recently resumed activities in India.
The exchange allows users to buy/sell crypto-crypto and INR-crypto pairs, supporting leading digital assets including BTC, ETH, XRP, BAT, etc. promising low transaction fees, fortified by advanced platform security.
The newly re-launched app comes with the following features:
- A simple and refreshing look with an intuitive user-friendly interface
- Extensive range of advanced trading features
- Multi-signature and multi-geo authentication enables for cold wallets
- Absolute compliance with all regulations
- Multi-layered advanced security protocols (proprietary)
The exchange’s crypto withdrawal fees vary with each digital asset that it supports. Zebpay is available in the Web version, iOS, and Android version for download and trading.
Established in 2017 CoinDCX is one of the largest cryptocurrency exchanges in India. The company is affiliated under Singapore based DCX that is known to offer crypto enabled financial solutions and services. CoinDCX exchange has its headquarters in Mumbai, Maharashtra.
The crypto exchange and trading platform offer quick conversions from fiat currencies to crypto with zero fees charged, providing the users with extensive accessibility to a wide range of financial services and solutions that are backed by industry-leading insurance protection and security processes. CoinDCX offers its users an integrated suite of crypto trading products, which includes DCXinsts which is a one-stop-shop for buying cryptocurrencies instantly with Indian fiat.
The salient features of the exchange are:
- A secured and safe platform that facilitates fast transactions
- Integration with major exchanges contributes in its promise of higher liquidity of digital assets
- Multi-signature cold wallet storage and authentication
- Seamless trading owing to a limitless order book
The CoinDCX exchange is available for download in Web versions, iOS, and Android.
Hope this article was informational and useful to all, do look forward to more insightful stories on the latest crypto and blockchain development. Happy trading till then!
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.