Best Crypto Exchanges in India of 2024

Our top picks include WazirX, CoinDCX, and Bitbns. Choosing the right crypto exchange in India depends on factors like fees, supported currencies, and platform reliability. Finding a secure and user-friendly exchange makes trading and investing easier.

The crypto landscape in India is dynamic, with a wide range of platforms competing for the top spot. When creating our reviews, we’ve considered various factors such as security, user interface, fee structure, and customer service.

Binance India FAQs

What are Binance India’s trading fees?

Binance India charges 0.1% for both maker and taker fees. Discounts are available when fees are paid using Binance Coin (BNB).

Does Binance India offer INR deposits?

Yes, Binance India allows INR deposits through UPI and bank transfers, although users should be aware that regulatory issues may cause delays.

What security features does Binance India offer?

Binance India offers strong security, including two-factor authentication (2FA), cold storage, and an insurance fund called SAFU to protect users in case of hacks.

Bitbns FAQs

What trading fees does Bitbns charge?

Bitbns charges 0.25% for both makers and takers. BNS token holders can benefit from discounts on these fees.

Can I deposit INR on Bitbns?

Yes, Bitbns allows INR deposits via UPI, NEFT, and RTGS, and there are no deposit fees for these methods.

Does Bitbns offer staking?

Yes, Bitbns offers both staking options and a fixed income plan (FIP) for earning interest on cryptocurrency holdings.

CoinDCX FAQs

What are the trading fees on CoinDCX?

CoinDCX charges 0.04% for maker fees and 0.06% for taker fees. Withdrawal fees for Bitcoin are higher than average, set at 0.001 BTC per withdrawal.

Does CoinDCX support advanced trading features?

Yes, CoinDCX offers both margin trading (up to 10x leverage) and futures trading (up to 15x leverage), catering to more advanced traders.

Is CoinDCX safe?

CoinDCX is known for its strong security protocols, including cold storage for user funds, 2FA, and insurance against security breaches.

CoinSwitch FAQs

What fees does CoinSwitch charge?

CoinSwitch does not charge any direct trading fees, but a spread is included in the prices, typically between 0% and 0.49%.

Is CoinSwitch beginner-friendly?

Yes, CoinSwitch has a user-friendly interface that is ideal for beginners just starting in cryptocurrency trading.

Does CoinSwitch provide a mobile app?

Yes, CoinSwitch operates primarily through its mobile app, which is available for both Android and iOS devices.

WazirX FAQs

What trading fees does WazirX charge?

WazirX charges 0.2% for both maker and taker fees. No fees are applied to P2P transactions, and WRX token holders can receive fee discounts.

What are the deposit options for INR on WazirX?

INR deposits can be made via UPI and bank transfers. However, deposits made through MobiKwik incur a 2% fee.

Does WazirX support staking?

Yes, WazirX offers staking options for selected cryptocurrencies, allowing users to earn passive income on their holdings.

Selecting a cryptocurrency exchange can be a complex decision, as several critical factors must be evaluated. Here are the criteria we used to curate our list of top crypto exchanges in India:

Security: Ensuring the safety of your cryptocurrency is paramount. Therefore, the security measures of an exchange should be a primary consideration. We have only included exchanges with robust security protocols at both the platform and account levels.

Reputation: In the cryptocurrency market, reputation is crucial due to the prevalence of unreliable projects and platforms. Our list features exchanges with a solid reputation and proven track record, both internationally and within India.

Range of Cryptocurrencies: It's important that the exchange offers the cryptocurrencies you wish to invest in. While some exchanges limit their offerings to major cryptocurrencies like Bitcoin and Ethereum, our selected exchanges provide a diverse range of options.

Liquidity: Liquidity is vital for avoiding issues such as bank runs, which have led to the collapse of several platforms in recent downturns. Exchanges with high liquidity allow for quicker trades and reduced slippage, ensuring more efficient transactions.

User Interface: The ease of use of an exchange is important for both beginners and experienced traders. Our list includes exchanges with user-friendly interfaces and mobile applications, accommodating various levels of expertise and allowing for trading on the go.

Fees: All crypto exchanges impose fees, but these can vary significantly. We have analyzed and compared the fee structures of each exchange to help you find the most cost-effective option.

When considering safety, WazirX and CoinDCX are at the forefront in India, thanks to their stringent security measures and compliance with international security standards. These platforms utilize advanced technologies such as 2FA, cold storage, and security audits that help to ensure user funds and data are protected.

For traders concerned with fees, Bitbns offers one of the lower fee structures available, especially beneficial for users holding the BNS token. CoinSwitch also provides competitive pricing, especially appealing to new traders who are looking for cost-effective trading options.

Looking to calculate your crypto profit? Try our free crypto profit calculator.

CoinSwitch stands out as the ideal choice for beginners due to its straightforward interface and commitment to user education, making it easy for new entrants to start trading without a steep learning curve.

Crypto exchanges in India can be broadly categorized into centralized exchanges (CEX), decentralized exchanges (DEX), and hybrid exchanges (HEX). Centralized exchanges, like WazirX and CoinDCX, offer ease of use and rapid access to trading tools.

Decentralized exchanges provide enhanced privacy and security, as they allow trading directly between users without the need for a central authority. Hybrid exchanges combine features of both, offering a balanced approach to trading.

Learn more: Crypto taxes in India

Methodology

How our experts identified the best crypto exchanges in India

Our methodology for identifying the best crypto exchanges in India involves a thorough review of each platform's security features, fee structures, user experience, and customer support capabilities. We also consider the variety of cryptocurrencies offered and the overall reliability of the service, ensuring our recommendations meet high standards for traders and investors.

Best crypto exchange India FAQs

How do India crypto exchanges work?

India crypto exchanges function by offering a platform where users can create accounts, deposit funds, trade a variety of cryptocurrencies and withdraw their earnings. They provide the necessary tools and resources for effective trading and investment management.

Which India crypto exchange is the safest?

WazirX and CoinDCX are considered some of the safest exchanges in India, offering extensive security measures to protect user assets.

What are the largest crypto exchanges in India?

The largest crypto exchanges in India by user base and trading volume include WazirX, CoinDCX, and Bitbns. Each serves millions of users with a wide range of crypto trading options.