Cryptocurrency exchanges help you buy from sellers by driving up their prices. This eliminates the need to buy one cryptocurrency on one exchange and get another in another cryptocurrency.
The lifting of India’s Supreme Court ban has given the country’s cryptocurrency much-needed hype and adoption. As we all know, the cryptocurrency received a boost last year and will continue to grow this year.
As more and more people join the cryptocurrency frenzy sweeping the world, India is not far behind. While there are cryptocurrency exchanges to help you, the country has strict rules and regulations on cryptocurrencies.
Several cryptocurrency exchanges have sprung up in the country, enabling the purchase, sale and trading of several cryptocurrencies. Cryptocurrency exchanges offer easy trading and functionality through user-friendly applications and websites.
There are a lot of cryptocurrency exchanges and applications in India where you can trade your favorite and popular cryptocurrency like Bitcoin, Ethereum, Dogecoin etc.
Cryptocurrency exchange services allow you to exchange INR for cryptocurrencies and vice versa. If the hype makes you think about investing in cryptocurrencies, you should know that there are cryptocurrency exchanges where you can buy and sell cryptocurrencies.
Cryptocurrency Exchanges in India
Cryptocurrency exchanges are a good start. In this article, I have selected the best cryptocurrency exchanges in India that I consider trustworthy and user-friendly.
WazirX
Wazirx was founded by Nischal Shetty (CEO), Siddharth Menon (COO) and Sameer Mhatre in 2017 and is a fast-growing cryptocurrency exchange with over 1 million users.
The exchange helps individuals to build digital assets by buying, selling and investing in cryptocurrencies such as Bitcoin, Litecoin, Ethereum and Ripple.
It was the first company to introduce an automatic P2P peer-to-peer engine to help merchants convert Indian rupees into crypto.
Smart Token Fund helps crypto investors find competent traders and lets them manage their cryptocurrency portfolio.
Today, the Exchange is part of the Binance Group, the world’s largest crypto exchange serving users in over 180 countries.
The P2P system simplifies the process of deposit and withdrawal of Fiat currencies by automatically matching buyers and sellers to ensure the security and speed of trade. Wazirx is available for Android, iOS, Web, Mac and Windows.
CoinSwitch Kuber
The start-up claims to have seen 350 per cent growth in its user base since June last year. It plans to bring 10 million users on board this year. Founded by Ashish Singhal, Govind Soni, CTO, and Vimal Sagar, COO, a global aggregator and cryptocurrency exchange in 2017, the company has provided over 300 coins and 45,000 currency pairs.
Last June, the company launched its exclusive crypto platform INR, Coinswitch Kuber. The platform has over 4.5 million users in India and recorded a transaction volume of 5 billion in March 2021, 10 months after launch.
In January, the Bengaluru-based startup raised $15 million in Series A financing from Ribbit Capital, Paradigm and Sequoia Capital India. In April 2021 the company raised $25 million in a Series B round of Tiger Global Management for a valuation of $500 million.
Coinswitch, a global aggregator and cryptocurrency exchange, launched its India platform Coinswitch Kuber in June 2020 to facilitate crypto investments for Indian retail investors. The platform allows users to buy and sell more than 100 cryptocurrencies denominated in Indian rupees.
Coinswitch aims to register 10 million users in India by the end of the year, recruit top talent and generate retail investors on cryptocurrencies with the new Series B fund injection. The company claims that it has registered 1 million users in the first 200 days of its launch, representing an investment of more than Rs2,000 crore.
CoinDCX
CoindCX is the only crypto start-up in India to have raised three rounds of funding in less than a year. In total, the company has raised more than $19 million.
CoinCX is designed with user experience and security in mind and offers instant, fee-free Fiat to Crypto conversion. Users have access to a wide range of financial products and services backed by industry-leading security and insurance processes.
The company launched its own product, Insta, which allows people to buy and sell Fiat and crypto, and saw monthly growth of 38 per cent from 2018 to 2020. The company has tripled its workforce from 30 to 100 in 2020-21. The workforce is to be doubled by the end of 2021.
DCX is a Singapore-based company specialising in crypto-based financial services. CoinDCX was founded on April 8, 2018 with the goal of providing users a user-friendly experience based on a broad range of financial products and services backed by industry-leading security processes and insurance cover.
The company is an ISO certified company that offers the highest liquidity and fastest onboarding process in the industry. DCX is revolutionizing crypto-based products by developing unlimited financial services that ensure fast, simple, and uninterrupted capital flows.
Unocoin
Unocoin has raised an undisclosed amount of money from Tim Draper as part of their ongoing Series A round in October 2020. It was founded by Sathvik Vishwanath, Harish Abhinand, Kaseti and Sunny Ray in July 2013 and is India’s first access to the Bitcoin space. The company enables customers to buy, sell and trade Bitcoin and Ethereum.
It has over 13 lakh users and over three lakh KYC verified customers. The company claims that its turnover runs into the hundreds every year.
Founded in 2013, Unocoin operates India’s largest trading platform, BTC / INR, which allows users across the country to transact and store bitcoin.
As a pioneer in its crypto industry, the company has pioneered leading innovations in digital asset trading such as Bitcoin Systematic Buying Plan (SBP), Crypto Lending, Crypto Interest and Earnings, Bitcoin Point of Sale App and Bitcoin Over-the-Counter Trading (OTC) that provide convenience and fast access to a wide range of digital products.
ZebPay
The Singapore-based start-up is founded by Sandeep Goenka, Saurabh Agrawal and Mahin Gupta in 162 countries and has handled more than $3 billion in transactions with over 3.5 million users, 95 percent of them in cash-driven India.
Founded in 2014, the company has a chequered history in India. With management changes, local regulatory hurdles and some product repeats, it was revived in January 2020 after the Supreme Court ruled against the two-year ban on cryptocurrencies by the RBIs. The company, with its Indian offices in Mumbai and Ahmedabad, has increased its workforce from 50 to 110.
The platform claims to be profitable from April 2020. The platform focuses on creating a recommendation structure, incentives and an Amex-like membership program for users.
BuyUCoin
It is a leading cryptocurrency exchange in India, in operation since 2016. BuyuCoin was founded by Shivam Thakral, Atulya Bhat and Devesh Aggrawal in 2016. It allows users to buy, sell, trade and store multiple digital assets such as Bitcoin, Ethereum and Ripple.
The Exchange serves over 350,000 users and handles more than 90 million transactions with digital assets each year. BuyuCoin’s revenue model includes two channels – smart commission and transaction margin – for fast and easy transactions.
Five years after its launch, it is now a leading Indian cryptocurrency exchange with over one million traders.
BuyuCoin enables users to buy, sell, trade and store multiple digital assets such as Bitcoin, Ethereum, Ripple, Litecoin, Stellar and many others using advanced instant banking services such as UPI, mobile wallets, IMPS, NEFT, RTGS, debit and credit cards.
BuyuCoin applies the best industry-based crypto transaction solutions with automated KYC and AML features.
More than 350,000 customers vouch for the ease with which Buyucoin enables the trading of digital assets and its mission to bring crypto into millions of Indian pockets.
Bitbns
Bitbns is a platform for the exchange of cryptocurrencies in India. Provides market data for multiple cryptocurrencies. Users must complete KYC verification by Aadhaar, open a bank account, deposit cash into Bitcoin’s wallet and begin trading.
Bitbns is the fastest and easiest way to trade cryptocurrencies. It is one of the best three-way peer-to-peer systems to buy cryptocurrencies using Fiat in India. It will soon be expanded to the United Arab Emirates and other countries.
Global start-up P2P ecosystem with fiat deposit, withdrawal, arbitrage, chrome extension, margin trading, 28 + cryptocurrencies, 4x debt and more. Also available on Android and iOS platforms.
Bitbns is an effortless way to trade cryptocurrencies. Since its inception in late 2017, it has consistently had the best experience in trading cryptocurrencies in the world. It allows users to exchange cryptocurrencies at the best and most competitive prices. Cryptocurrencies and the underlying blockchain technology are the future of money.
