Bitcoin in India is gaining popularity like never before. As an impact of the major bull run in late 2020 and early 2021, bitcoin has emerged as a top digital asset in the country. People started talking about options to buy bitcoin when the digital currency hit US$65,000 in mid-April this year. Although the record price didn’t last for long in the market, it made a remarkable spot in Indian’s investment plan. Backed by blockchain technology, bitcoin is a decentralized digital token that works without the guidance or monitoring of an authority. The legality of cryptocurrency in India is still at stake. The Supreme Court of India has recently overruled the ban imposed by the Reserve Bank of India on cryptocurrency trading. This has further loosened the regulations on bitcoin investments and led to the emergence of many cryptocurrency exchanges. According to a survey, over 30% of the Indian agreed to have invested in cryptocurrencies. Therefore, investors and traders are keen to buy and sell bitcoin through top cryptocurrency exchanges. These top cryptocurrency exchanges provide a plethora of options to buy, sell, trade, and lend cryptocurrencies. Some even offer user-friendly and customized services at a minimal fee. Analytics Insight has listed top cryptocurrency exchanges that Indians use to buy bitcoin.
Top Cryptocurrency Exchanges in India
Based out in India, WazirX is one of the most popular and successful cryptocurrency exchanges in the country. Launched in 2021, WazirX provides its users with peer-to-peer transaction capabilities and manages a technology that is good at processing millions of transactions at a time. The platform’s easy-to-use venture on web, Android, and iOS mobiles make it the top choice for many investors. In addition to the features, WazirX also leverages an innovative KYC system that verifies the identities in few hours.
Although CoinSwitch is not particularly made for Indian investors, it is one of the best cryptocurrency exchanges in the world that supports and leverages the best services for many countries. The platform has entered India in 2017 and has been operating at every nook and corner ever since. CoinSwitch features over 300 cryptocurrencies and 45,000 trading pairs. Besides providing crypto services, the platform also clears investors by answering their questions.
A big advantage of using CoinDCX is its feature to provide instant fiat to crypto conversions with zero fees. Therefore, users can invest in more investment models both on cryptocurrency and other financial services. Founded in 2018, CoinDCX has gained US$19 million so far in funding. Besides providing crypto and financial service, the platform has its own product called ‘Insta,’ that makes fiat to crypto buying and selling simple.
The Singapore-headquartered start-up launched by Indian origins is one of the most used cryptocurrency exchanges in India. The founders Sandeep Goenka, Saurabh Agrawal, and Mahin Gupta realized the potential of cryptocurrency in India and stepped into the digital asset trading business. Initially launched in 2014, ZebPay has to remodel its functioning and relaunch the portal again in January 2020 ahead of the Indian government and RBI’s decision of bitcoin regulation. ZebPay offices are also located in Mumbai and Ahmedabad, which works to manage the Indian trading routines.
Uncoin trades famous cryptocurrencies like Ether and Tether, but its main focus is still bitcoin. The platform allows users to buy and sell all the featured cryptocurrencies. Besides, Unocoin is famous for its unique OTC (Over The Counter) services that enable bulk trade and the SIP (Systematic Investment Plan) feature, which allows users to customize an amount that will be debited from their account every month without intervention.
BuyUCoin is a trustworthy and convenient cryptocurrency exchange in India. It leverages a seamless trading experience in a variety of cryptocurrencies including bitcoin, ethereum, ethereum classic, list, NEM, Civic, Litecoin, Bitcoin Cash, etc. BuyUCoin also offers a SIP feature, making the functionality of periodic transactions easy. Besides, the platform is using a ‘sandbox’ system to monitor cryptocurrency usage in India.
Bitbns is a growing cryptocurrency platform in India that is highly preferred by new crypto investors. Bitbns offers grade-A security to its investors and accepts payment modes such as UPI and net banking. Created by young and enthusiastic adopters of cryptocurrencies from IIT, Bitbns is designed to serve customers on their financial needs and assistance. The platform was launched in 2017 to give people a smooth entry into the crypto world with easy-to-use security and seamless customer support from the very beginning.
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