Navigating the cryptocurrency world can be thrilling but overwhelming, especially if you’re new. Choosing the proper exchange is crucial for a smooth and secure experience if you want to dive into crypto trading in India. Centralised exchanges are often the go-to for many traders due to their user-friendly interfaces and robust security measures.
In this article, we’ll explore India’s top 8 centralised crypto exchanges that stand out for their reliability, ease of use, and extensive features. Whether you aim to buy, sell, or trade cryptocurrencies, these platforms offer everything you need to start your crypto journey confidently.
A cryptocurrency exchange is an online platform that acts as a middleman between buyers and sellers of cryptocurrencies. These platforms allow you to trade cryptocurrencies in exchange for digital or fiat currencies.
You can deposit money using direct bank transfers, net banking, or peer-to-peer (P2P) transactions. The exchange charges a commission or fee for each transaction.
Here’s a list of the best-centralised crypto exchanges in India:
CoinDCX is one of India’s safest and most transparent crypto exchanges. When you sign up, you’ll undergo a thorough onboarding process with many security checks, including biometric verification.
It also presents self-custody wallets, letting you transfer your cryptocurrencies into your custody with just one click.
With CoinDCX, you can enjoy various products and services, including margin trading, staking, systematic investment plans, futures, and lending options in cryptocurrencies.
You can use their mobile app on both Android and iOS. They also provide a range of instructional materials on crypto trading strategies through vlogs and blogs, including detailed guides on earning passive income from idle cryptocurrencies.
ZebPay is popular among investors for its features, such as instant trading, curated crypto portfolios, and the ability to earn interest on idle cryptocurrency holdings through its lending option.
You can earn fixed returns from 0.2% to 8.5% by lending your cryptocurrencies. Currently, ZebPay supports over 100 crypto coins and has nearly six million users.
It is also ideal for intraday trading, offering fast payments and low maker fees. ZebPay offers attractive first-time trades, cashback offers, and monthly rewards for top trades.
WazirX is one of the largest and most popular crypto exchanges in India. It offers a user-friendly platform with a wide range of cryptocurrencies to trade.
The exchange provides features like spot trading, staking, and an in-built wallet. WazirX is known for its high liquidity and robust security measures. It also has its native token, WRX, which can be used to get trading discounts.
The platform supports INR deposits and withdrawals, making it easy for Indian users to buy and sell crypto.
Unocoin focuses on Bitcoin, offering a simple way to buy, sell, and invest in the cryptocurrency. It’s particularly easy to use and seamlessly integrates with Indian banking systems.
You can even set up regular investments through Bitcoin’s systematic investment plans (SIPs). Unocoin also provides features like Bitcoin-backed loans and a user-friendly mobile app.
Your transactions are secure, and the platform offers educational support to help you understand Bitcoin better.
Giottus is rapidly emerging as one of the fastest-growing cryptocurrency exchanges in the country. It provides a range of trading and earning opportunities through various cryptocurrency instruments.
You can use features such as fixed deposits and systematic investment plans (SIPs) and create themed crypto baskets for long-term investments.
Giottus is also preparing to introduce non-fungible tokens (NFTs) and lending services. Additionally, you can take advantage of their referral program to earn up to 10,000 tokens.
The exchange’s staking feature also offers a chance to earn passive income from your cryptocurrency, with potential returns exceeding 10%.
Mudrex is one of the top cryptocurrency investment apps in India. Launched in 2018, it focuses on providing long-term, lower-risk investment opportunities.
Investing on Mudrex is straightforward and quick, and the platform offers access to over 350 cryptocurrencies. It does not charge fees for crypto deposits and features robust security measures, including cold wallet storage and biometric authentication.
One standout feature of Mudrex is its “Coin Sets,” expert-curated, theme-based crypto baskets that offer diversification and reduce risk.
Mudrex is known for its transparency, competitive fees, and user-friendly interface. With over one million users, it boasts a 96% customer satisfaction rate.
CoinSwitch is ideal for beginners, offering low trading fees on Bitcoin transactions. You can trade over 100 cryptocurrencies starting from as low as INR 100, all through an easy-to-use interface.
CoinSwitch supports trading pairs between INR and various cryptocurrencies, making INR-based crypto trading straightforward. The platform has also introduced a benchmark index and a crypto rupee index to measure the performance of the Indian rupee in the crypto market.
CoinSwitch’s app’s LEARN section also provides a wide range of educational resources on blockchain technology, non-fungible tokens (NFTs), and cryptocurrencies.
Bitbns offers trading for over 590 cryptocurrencies, including popular options like Bitcoin, Ethereum, and Litecoin. The platform has more than 4 million active users.
Its academies and research reports provide a wealth of educational resources. It hosts “predict and win” contests and referral programs for new and existing users.
In 2022, Bitbns became the first crypto exchange in India to offer tax relief by eliminating tax deducted at source (TDS) on SIP transactions. Investors using an SIP for at least 12 months can invest without TDS concerns.
Bitbns is also known for its focus on metaverse tokens, having recently listed popular tokens like TRACE, Klaytn (KLAY) Alien World, RFOX, and DEAPcoin.
Finding the proper crypto exchange is crucial for a smooth trading experience. Here’s a straightforward guide to help you make the best choice.
Your first concern should be security. Look for exchanges that use robust security features like two-factor authentication (2FA) and encryption. Ensure they keep most of their assets in cold storage to protect them from hacks. Research the exchange’s security history—avoid platforms with a record of significant security breaches.
A user-friendly interface makes trading more enjoyable. Choose an exchange with an intuitive layout that’s easy to navigate, whether you’re a newbie or an experienced trader. The platform should make it simple for you to buy, sell, and manage your cryptocurrencies without any hassle.
Different exchanges offer different cryptocurrencies. Make sure the exchange you choose supports the cryptocurrencies you’re interested in. Some platforms provide a wide range of digital assets, while others focus on significant coins like Bitcoin and Ethereum.
Fees can vary significantly between exchanges. Some charge higher trading or withdrawal fees, which can increase over time. Compare the fee structures of different exchanges to find one that offers reasonable rates. Look for platforms that provide transparent fee information so you know exactly what to expect.
Good customer support can make a big difference, especially if you encounter issues. Opt for exchanges that provide responsive customer service through multiple channels, such as live chat, email, or phone. Reliable support can save you a lot of stress if you need help.
High liquidity means you can quickly buy or sell crypto without significantly impacting the price. Choose an exchange with high trading volumes to ensure you can execute trades smoothly and at competitive prices.
Choosing the right crypto exchange is like picking the perfect pair of shoes – it needs to fit your style and needs. Each exchange has strengths, whether user-friendliness, security or the range of coins offered. Remember, the crypto world is dynamic, so it’s always a good idea to research and compare platforms before diving in.
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