Best Cryptocurrency Exchanges to Buy/Sell/Trade in India


Cryptocurrency has gained a lot of recognition in recent years. Many people are still not fully aware of what cryptocurrency is and how you can use it for transactions and investments. This article will help you better understand what cryptocurrency is, the different types of cryptocurrencies, and how to buy and invest in cryptocurrency.

What is cryptocurrency?

Cryptocurrency, also known as ‘crypto’, is a form of digital payment that does not involve real physical money; the banks are not involved either. One does not need to verify with the bank to make a transaction, which makes it quite flexible to transact abroad. The bookings of the transactions made via cryptocurrency are stored in the online database and are stored in digital wallets.

High-level encryption is involved in storing and transmitting data from one digital wallet to another. Encryption is used to store the data securely. Most people have used cryptocurrencies as a form of investment alongside the classic mutual fund investments, which has made cryptocurrency widely known in recent years and its prices have risen dramatically.

How to invest in cryptocurrency in India?

Many people want to invest in cryptocurrency, but do not know how to invest in it. There are several steps through which one can invest in cryptocurrency in India.

They are:

Choosing a Platform: The first and most important step is to choose a platform with which to invest in cryptocurrency. The first platform is Traditional Brokers. Through this platform, you will be introduced to traditional brokers who provide you with ways in which you can buy and sell cryptocurrency.

They also provide you with ways to invest in stocks, bonds, and ETFs.

Cryptocurrency Exchanges: There are several platforms that allow you to invest and trade. These platforms offer various cryptocurrencies, wallet storage and many more options to choose from while investing and trading.

Coinbase Trading Platform

You should compare different platforms and the costs and benefits they offer in terms of security while deciding which platform to invest and trade through.

Funding your account: After you choose the platform, the next thing comes to fund your account so that you can start trading. There are several ways you can buy cryptos. Some of them are:

Government Issued Currencies: This includes currencies such as the Euro, US Dollar, etc., which use their debit or credit cards. This differs from platform to platform.

Credit card purchases are not supported by some platforms as they are considered risky purchases.

This is because cryptocurrencies are highly volatile and it is not recommended to take risks and take on debt.

ACH Transfers and Wire Transfers: This is yet another way you can buy crypto. The time required for depositing and withdrawing may vary from platform to platform.

An important factor to take into account is the costs charged during the purchase. The platforms charge various fees such as deposit and transaction fees. Different platforms offer different transaction fees. You should take this into account before investing.

Place an order: The last step is to place an order and buy the cryptocurrencies.

The steps to make a purchase are as follows:

Open the platform and select ‘buy’.Choose the order type.Enter the number of cryptocurrencies.Confirm the order

Best Crypto Exchange in India with Low Fees:

eToro:

eToro is one of the most respected platforms and has around 23 million users. The user can invest in more than 40 different cryptocurrencies.

The platform does not charge a trading fee for opening and closing a trade and only charges the spread.

One of the other good things about eToro is that the user can trade for as low as $10 per trade for a quick start for beginners.

It offers payment via credit/debit card, bank transfer and an e-wallet.

It also has its educational services known as ‘eToro Academy’ which provides free articles and videos for users new to crypto trading.

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Binance:

Behance is yet another bitcoin exchange with a low trading fee. It charges only 0.1% trading fee when opening and closing a trade and offers more than 500 cryptos for the user to invest and trade in.

There is an additional 25% discount limit if the user owns BNB, which is Binance’s native cryptocurrency.

There are two separate platforms for beginners and experienced traders.

Both platforms have great charting capabilities and indicators that allow the user to optimize their trading. It also accepts FIAT deposits if the user has their account in USD.

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Coin Base:

It has 2 types of platforms; the Standard platform and ‘Coinbase Pro’.

The standard offers basic features and is aimed at audiences that act more casually.

The Coinbase Pro has more advanced features such as real-time order books and a lower fee structure.

It charges a variable transaction fee for opening and closing a trade, as well as the spread.

The users can invest in over 130 different crypto assets on both platforms.

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Best Cryptocurrency Apps in India in 2022:

WazirX:

This application provides a platform for the users to trade, manage, analyze and track their digital assets.

The application has become very popular in India as it is available for free on the Play Store/AppStore and has a user-friendly interface.

The application is designed in such a way as to make it easier for someone who does not have much knowledge about trading cryptos.

The application also makes it possible to automate cryptocurrency trading.

It charges a 0.20% trading fee and offers a discount based on the user’s WRX holding. It allows users to trade different types of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc.

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CoinSwitch Kuber:

It is one of the most trusted cryptocurrency trading platforms.

It aims to make crypto trading easier for people. It has processed more than $5 billion in transactions.

The user must have a KYC to trade through this platform which provides an additional safety shield for the trades.

It is the second most valued Indian crypto startup in India with a valuation of nearly USD 1.9 billion.

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unocoin:

It is the oldest crypto trading platform in India and has processed more than 11.7 million transactions. It offers dynamic trading fees for high volume trades.

It allows the user to automate their trending as it provides their trading API which the user can access to automate their trades by creating trading robots that trade according to the real time market updates.

It has played an important role in the crypto rights struggle in India and has made it an easy-to-use platform for those new to the crypto trading ecosystem.

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ZebPay:

It was launched in 2014 and has since processed more than 10 billion in volume transactions. It focuses a lot on security and keeps most of its registered tokens in cold/hardware wallets instead of keeping them on a server that might be accessible to the hacker.

This makes it robust and the user can be trusted for the security of their data. It ensures that their user earns 5% return on their investment. It also allows the user to lend their crypto to other users at a 10% interest rate.

I started my journey into bitcoin investing with Zebpay way back in 2017.

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CoinDCX:

This platform was launched in India in 2018 and has about 10 million users in India in such a short period of time. The platform provides constant audits to improve existing security protocols. It uses COSMEX as a platform to give traders access to a third of global crypto liquidity.

Currently, CoinDCX is the most highly regarded crypto startup in India, and at the time of writing this article. It raised money recently, and CoinDCX is valued at USD 2 billion.

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Some FAQs About Cryptocurrency Trading in India

Is it legal to buy cryptocurrency in India?

Currency no legislation covers the investment and trading of cryptocurrencies in India. But this does not mean that buying and owning cryptocurrencies in India is illegal.

Where to buy bitcoin in India?

There are several trading platforms that allow users to buy bitcoin in India. Just to name a few, Paxful, zebpay, Binance, Unocoin, WazirX, etc.

Name some made in India cryptocurrencies.

An Indian cryptocurrency trading platform called CoinSwitch Kuber has announced the addition of new coins, the made-in India cryptocurrency. These are MANA, SAND, GALA, REQ and COTI.

What is the safest crypto exchange in India?

CoinDCX is considered one of the most secure crypto exchanges in India. This can be concluded in terms of its registered users, which are more than 4 million, as well as that the users have access to more than 200 cryptocurrencies such as Ethereum, Bitcoin, Litecoin, etc.

PS For any questions or suggestions, email geekyadmin (at the rate) geekygadgets(.) at

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