Cryptocurrency trading has become increasingly popular in India, with many exchanges offering a variety of services to investors. Among the most popular exchanges are WazirX, Unocoin, CoinDCX, CoinSwitch Kuber, Bitbns, Krypto and Paxful. Each of these exchanges offers different features and services that make them unique and attractive to investors. WazirX is one of the fastest growing cryptocurrency exchanges in India and more than 150 countries.
It has gained immense popularity on social media due to its user-friendly interface and various features. The app allows users to invest with INR, US dollar, BTC and even P2P. It also has its own currency called WRX that can be purchased with INR. Users can protect their account using 2FA or app passcode that can be enabled from the phone's settings.
WazirX has a charge rate of 0.2 percent applicable to the taker and the creator. You can deposit any amount greater than 100 rupees into the WazirX wallet through NEFT, RTGS, IMPS and UPI. Unocoin is another popular cryptocurrency exchange in India that allows users to buy and sell cryptocurrencies with INR. It offers biometric security features through digital identification and access code.
Unocoin deposits allow a minimum amount of 1,000 rupees, which is higher than what WazirX offers. However, when you deposit money with NEFT, RTGS, IMPS or UPI, users are not charged any fees. That said, using the MobiKwik wallet incurs 2 percent transaction fees and for debit or credit cards you also have to pay a fee prescribed by banks. CoinDCX is a leading cryptocurrency exchange in India that provides investors with a lucrative opportunity to earn substantial money by allowing them to invest in more than 200 different types of cryptocurrencies. It is a Mumbai-based exchange that claims to have more than 1lakh of active users across India.
The platform is best known for charging minimum trading fees; that is, 0.1%. In addition, deposits and withdrawals are completely free on this platform. CoinDCX presents itself with a comfortable and simple user face that makes it easy for newbies to understand deposits, withdrawals and trading. CoinSwitch Kuber was an ever-present advertising function during the IPL recently. This platform has funds from popular investors and venture capital firms such as Sequoia and more.
It claims to allow you to trade more than 100 cryptos and promises the best trading rates in the market. Use your mobile phone number to create an account to trade in the app but you can't start trading before you complete the KYC process. You get a four-digit PIN code option to protect the account in the app. CoinSwitch Kuber says that the first 100,000 users of the platform will not have to pay the trading fee for 100 days. Bitbns is another application for cryptocurrency trading available for download on both Android and iPhone mobile phones.
The app has more than 100 cryptocurrencies listed, ranging from the popular Bitcoin and Ethereum to the relatively new Shiba Inu. In addition to this, Bitbns offers a trading facility like no other cryptocurrency exchange due to its partnership with global cryptocurrency exchange OKEx. Krypto also allows users to send or pay with cryptocurrencies at any store in India. It supports 100+ cryptos and popular payment modes such as UPI and bank transfer. Paxful is a peer-to-peer (P2P) crypto marketplace where buyers can grab deals from several sellers offering them. Paxful charges transaction fees to sellers based on the wallet you use; these amounts vary depending on the size of the transaction and are lower if you use the Paxful wallet.
Interestingly, Paxful sellers can set their own crypto prices and trading limits. Binance is one of India's most popular cryptocurrency exchanges offering a solid option for numerous users to trade more than 350 altcoins including Bitcoin, Litecoin, Etherium, Bitcoin Gold, Cardano etc. The best part about this platform is that investors earn interest on all their holdings. In addition, like WazirX, Binance India offers a way to trade peer-to-peer, execute advanced trading methods including futures contracts, participate in margin trading etc. In conclusion, each of these cryptocurrency exchanges offer different features that make them attractive for investors in India. WazirX is best known for inventing a useful peer-to-peer (P2P) engine while Unocoin offers biometric security features through digital identification and access code.
CoinDCX charges minimum trading fees while CoinSwitch Kuber promises best trading rates in the market without charging any fees for first 100000 users. Bitbns offers a trading facility like no other cryptocurrency exchange due to its partnership with global cryptocurrency exchange OKEx while Krypto allows users to send or pay with cryptocurrencies at any store in India. Paxful provides buyers with deals from several sellers while Binance offers investors interest on all their holdings.