India was one of the fastest-growing markets for crypto assets. Then in April 2022, the government began to tax crypto transactions and volumes on local exchanges collapsed.
The government presented the tax move as an opportunity to formalize the asset class. It also made crypto trading prohibitively expensive.
But still, About 7.3% of India’s population owns digital currency and though trading on local exchanges has become significantly less, Indians are trading big volumes in International exchanges.
So let us list the best crypto exchanges in India which will help you to make your decision wisely:
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Bybit (Bybit India): Bybit India is the safest crypto exchange in India and also made its mark for keeping users' funds safe worldwide. ByBit Exchange is a cryptocurrency exchange that offers top-level futures trading for advanced traders while it offers a very simple UI with zero trading fees for new crypto users. Bybit India is also famous as they give users the highest rewards in the industry. As an example, for new users, you will get a $20 Bonus and receive up to 4,000 USD bonus extra when you complete all the tasks available on their platform. This trading platform gives users the ability to trade crypto perpetual contracts with up to 100:1 leverage. They have never been hacked and Bybit India takes so many precautions to ensure optimal trading security on their platform. It always puts crypto transparency in the spotlight as well.
Bybit Affiliate program is also considered the best affiliate program in the crypto industry where you can earn up to 50% revenue share or up to $20 in cash for bringing every new user to the platform where the new users also get up to a $20 bonus instantly.
WAZIRX: WazirX trading exchange created by Nischal Shetty, has been operating in the crypto market since 2017. It is considered among the popular crypto exchanges/ trading apps in India. It offers the services of Crypto Exchange in India for crypto traders and even also supports P2P exchanges on the trading platform. This exchange platform is highly compatible with all devices which include Windows, MacBooks, iPhones, and Android. WazirX fails to provide high liquidity compared to big crypto platforms and currently charges high trading fees.
COINDCX: With so many registered users, CoinDCX is also considered to be one of the best crypto exchanges in the country. The platform also provides several crypto services such as margin trading, futures, and lending options. The CoinDCX platform offers many advanced trading options that experienced crypto traders can benefit from. CoinDCX also has very good security measures by using 2FA (2-factor authentication). Staking on the platform also allows users to earn interest on their deposited cryptocurrencies. This cryptocurrency exchange app only supports INR to let you trade in cryptos. You can deposit money into the account using bank transfer only which is a disadvantage currently. You also can’t transfer or deposit crypto to other exchanges/ wallets in this app at this moment.
COINSWITCH KUBER: Coinswitch Kuber is an extremely beginner-friendly crypto exchange for people who are just starting to dip into cryptocurrencies. Although the features and number of cryptocurrencies available on this exchange are somewhat limited, it’s still popular among users due to its ease of use and high security. The exchange has also created a ton of educational guides and videos that people can use to advance their knowledge about the crypto space. However, the exchange is not good for intraday or regular trading as it lacks the necessary tools. The platform helps people buy crypto by only using INR as crypto-to-crypto exchanges are currently not supported which is not liked by regular and professional crypto traders.
“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
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