- CoinDCX is one of the most flexible and prominent crypto trading platforms in India.
- KoinBX and WazriX make it ideal for beginners and intermediate users.
One of the fastest growing industries in the financial sector is the crypto industry, which has grown exponentially over the past decade. Significantly, the crypto buzz across India is gradually increasing every year. Crypto trading has become popular in India despite its regulatory issues and other challenges. It is well known that the majority of people were only interested in traditional forms of investing but that has changed recently.
The country is experiencing a big transition to digital currencies, with people abandoning their traditional method of holding crypto assets for convenience and security. In recent years, investors have opened their arms to explore the digital age. Hence, it pushes the crypto industry to evolve as a lucrative investment vehicle and the adoption rate is increasing rapidly.
The acceptance of crypto has led to an increase in the number of crypto exchanges operating in the industry. Using the crypto exchange is simple. It allows users to buy, sell and trade cryptocurrencies. Although this sector is not completely regulated, the immense rise of crypto exchanges is staggering. Moreover, it is crucial for crypto traders and investors to find a reliable and trustworthy exchange for their trading activity.
In real terms, the Indian crypto market is still in its early years of development, so it is important to be on the lookout for scams and avoid falling victim to fraud. Let's take a look at the largest and best analyzed list of reliable crypto exchanges in India, in this article.
Our Top 3 Picks
1.CoinDCX
CoinDCX is one of the most flexible and prominent crypto trading platforms in India. The important overall feature of this platform is its security experience and the availability of a huge selection of cryptos. Furthermore, the range of trading services, such as spot, margin, futures and fiat-crypto trading, creates an inviting space for all types of traders. The account verification process has also been designed to be simple and hassle-free. Therefore, the trading fee of the platform is 0-0.50% and the minimum investment is ₹100.
2. KoinBX
KoinBX emerges as the most trusted and leading crypto trading platform and preferable exchange among millennials for its simple and user-friendly interface. It is a fully regulated crypto exchange with its trademark registered in European countries.
With users from over 50 major countries around the world, KoinBX offers a diverse range of cryptocurrencies, spot trading, and welcome rewards to attract Gen Z investors. Additionally, the platform manages referral programs where users can enjoy commissions by referring friends on each transaction.
KoinBX allows users to buy cryptocurrencies directly with INR allowing maximum withdrawal of INR up to 1 Lakh, charging the lowest fees of around 0.2% per transaction and the minimum investment is INR 100. There has been a noticeable change in CoinMarketCap's rankings recently, with KoinBX gradually moving up the list.
3. WazirX
WazirX is the most popular crypto exchange in India which has unquestionably grown to be one of the reputable platforms across the country. The platform was designed with ease of use in mind, making it ideal for beginners and intermediate users. Moreover, the account verification process would take around 2-4 hours which is comparatively longer.
In fact, the platform charges 0.2% transaction fees and the minimum investment is ₹100.
Final remarks
The best investment choice for passive income may be crypto trading, but this still requires individual research and analysis. Concluding the exploration of the top crypto exchanges in India for June 2023, it is certainly evident that the market is going through significant changes. However, the battle for the top spot has intensified, as platforms dedicated to crypto enthusiasts have multiplied. These top exchanges provide a solid foundation for your journey, whether you are an experienced trader or someone who has decided to enter the crypto industry. Each exchange differs in its own characteristics and strengths, while some emerge for top-notch user experiences, strong security measures, and a wide selection of supported cryptocurrencies.