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Editorial · Q2 2026 Rankings
The 9 best Bitcoin exchanges in India, tested.
Every exchange on this list is FIU-IND registered, the mandatory compliance step under India’s PMLA framework. We tested each with real INR deposits, real trades, and real KYC. Rankings weight FIU compliance, INR deposit rails, security record, fees including the 1% TDS impact, and actual liquidity for Indian users.
By Gaurav Agarwal · · ● India edition
What a ₹1,00,000 trade really costs.
TAX EXAMPLE: ₹20,000 gain on a ₹1,00,000 BTC trade
TDS is refundable via ITR Schedule VDA if your total tax liability is lower. No loss offsetting across different VDAs under current law.
Domestic exchanges auto-deduct 1% TDS at point of sale. P2P users (Binance, KuCoin, Bybit) must self-deposit TDS, check your obligations with a tax advisor.
How we actually tested.
Five India-specific criteria, weighted equally. Every exchange tested with real INR deposits and real KYC. Scoring rubric below, no AI summaries, no aggregated reviews.
FIU-IND compliance
Confirmed registration with India’s Financial Intelligence Unit under PMLA. Non-registered exchanges are excluded entirely, this is a hard pass/fail gate.
Security & Proof of Reserves
Hack history, cold storage ratio, insurance fund, and whether the exchange publishes regular PoR audits. CoinDCX is the only Indian exchange with quarterly PoR.
INR deposit rails
Direct UPI/IMPS/NEFT vs P2P-only. Direct rails mean instant deposits; P2P means 15–30 min and counterparty risk. This matters daily for Indian users.
Real fees + TDS impact
Spot maker/taker plus the 1% TDS (Section 194S) that auto-applies at every sell on domestic exchanges. Total cost of a round trip, beyond the headline fee.
Liquidity for INR pairs
Order book depth and spread on BTC-INR specifically. A global exchange with P2P-only INR can have tight spreads globally but wider effective spreads for Indian users.
The podium our top 3 picks for India
CoinSwitch
India’s largest by users · 20M+ · PoR reserves +₹600cr · PRO futures platform
CoinDCX
14M users · quarterly PoR · ISO 27001 · ₹57.5cr protection fund · Coinbase Ventures backed
Mudrex
3M users · Coin Sets baskets · SIP investing · Best for passive crypto exposure
INR deposit methods
INR deposit methods that work June 2026.
Not all exchanges take INR the same way. Direct UPI deposits clear in seconds. P2P routes take 15–30 minutes and carry counterparty risk, so check which one you’re using before you deposit.
CoinDCX
Direct bank integration. Min deposit ₹500. No INR deposit fees. UPI capped ~₹1L/transaction per exchange policy.
Open account → Direct UPICoinSwitch
Direct INR deposit and withdrawal. India’s largest user base. PRO platform for futures trading.
Open account → Direct UPIMudrex
DigiLocker-based KYC makes onboarding fast. SIP and Coin Sets available post-deposit. IMPS/NEFT supported.
Open account → Direct UPI
ZebPay
India’s oldest running exchange. Nine-year clean security record. IMPS and NEFT for larger deposits beyond UPI limits.
Open account → Direct INR rails
Coinbase
Coinbase launched direct BTC-INR and USDC-INR trading in April–May 2026 with real INR deposit/withdrawal rails, first US-listed exchange to do this in India.
Open account → Direct UPI
Giottus
Fast onboarding with direct UPI. BitGo cold wallet custody with insurance. 20+ Indian language support, best regional-language UX in India.
Open account →P2P-only INR (offshore exchanges)
Binance, KuCoin, and Bybit do not offer direct UPI/bank INR deposits for Indian users as of June 2026. To fund these accounts in INR, you pay a verified P2P seller in the exchange marketplace via UPI, who then releases USDT to your account. Typical time: 15–30 minutes. Counterparty risk applies, some Indian banks flag these transfers.
In-depth reviews
The full lineup, in detail.
Each card covers 4 key stats, honest pros and cons, and FIU/PoR badges where earned. All 9 exchanges are FIU-IND registered.
CoinDCX
CoinDCX is India’s most security-transparent exchange. It’s the only Indian platform publishing quarterly Proof of Reserves, its January 2025 PoR showed reserves 1.48% above customer holdings. The ₹57.5 crore investor protection fund and ISO 27001:2022 certification put it a tier above domestic peers on trust. Coinbase Ventures backed the combined CoinDCX-BitOasis entity in October 2025, a meaningful signal of institutional confidence. Read our full CoinDCX review for the complete breakdown.
+ Strengths
- India’s only quarterly Proof of Reserves
- ₹57.5 crore investor protection fund
- ISO 27001:2022 certified; Coinbase Ventures backed
- Web3 mode: 1,000+ coins + 50,000+ on-chain tokens
− Watch out
- Jul 2025: $44M stolen from internal operational wallet (not user funds; disclosed same day, withdrawals unaffected)
- 0.20% base fee is higher than some global peers
- Advanced Web3 features have a learning curve
CoinSwitch
CoinSwitch is India’s largest exchange by registered user count at 20M+ and publishes regular Proof of Reserves showing reserves exceeding customer holdings by ₹600+ crore. Its PRO platform includes TradingView charts and futures trading, making it genuinely competitive for active traders. Parent company PeepalCo also runs Lemonn for stock investing, the only group offering crypto and equities under one umbrella in India. CoinSwitch joined the zero-fee race in March 2026.
+ Strengths
- India’s largest user base, best community and liquidity
- PoR reserves +₹600cr above customer balances
- PRO platform with futures and TradingView charts
- Stock + crypto under one parent (PeepalCo / Lemonn)
− Watch out
- Fee structure varies widely (0.04–0.4%), check current tier
- Beginner UI and PRO are separate, can confuse new users
- Coin selection not as deep as global offshore exchanges
Mudrex
Mudrex is built for Indians who want crypto exposure without active trading. Its Coin Sets are themed baskets (DeFi, Metaverse, Layer 1s) that auto-rebalance monthly, much like an index fund. The SIP feature lets you invest fixed amounts automatically. With 3M+ users growing 40% year-over-year and 650+ coins, it’s the strongest passive investing platform in the Indian market. FIU-registered via RPFAS Technologies Private Limited.
+ Strengths
- Coin Sets: auto-rebalancing themed crypto baskets
- SIP feature for disciplined regular investing
- DigiLocker KYC, fastest onboarding in India
- Best for passive investors who don’t want to trade
− Watch out
- Withdrawal fees reported as high as 2% by some users (user-reported; check current schedule on site)
- No public Proof of Reserves published as of June 2026
- Not ideal for active traders or derivatives
ZebPay
ZebPay has the cleanest long-term security record of any Indian exchange: nine years running with no major hack. Founded in 2014, it survived the 2018 RBI banking circular, returned to India in 2020, and maintains 98% cold storage. It’s not the cheapest option (0.15% maker / 0.25% taker is above domestic average), and it hasn’t published a public Proof of Reserves, but its track record makes it the most trustworthy choice for long-term holders.
+ Strengths
- 9-year clean security record, no major hack ever
- 98% cold storage, best cold-storage ratio among Indian exchanges
- Direct UPI, IMPS, NEFT, and bank transfer
- 334+ coins and 355+ trading pairs
− Watch out
- Above-average fees vs domestic peers (0.25% taker)
- No public Proof of Reserves page as of June 2026
- Smaller coin selection than offshore exchanges
Coinbase
Coinbase made a significant move for Indian users in 2026: it launched direct BTC-INR trading on May 14 and direct INR deposit/withdrawal rails in April, making it the first US-listed exchange to offer this in India. For Indians who want global exchange security with local currency convenience, this is now a real option. Fees are higher than domestic peers (0.40–0.60% taker), but the regulatory pedigree and SOC 2 audits provide a different kind of assurance.
+ Strengths
- Direct BTC-INR and USDC-INR trading, launched May 2026
- Only NASDAQ-listed exchange available in India
- SOC 2 audited; strong global regulatory compliance
- Cleanest UX for first-time buyers
− Watch out
- Fees 2–3x higher than CoinDCX or ZebPay
- Limited coin selection (250+) vs offshore peers
- India operations still expanding, not all features live yet
Binance
Binance is FIU-IND registered as of August 2024, after paying India’s largest crypto exchange penalty of ₹188 crore. For Indians who need global liquidity and the widest coin selection, it’s the top offshore choice. The catch: there’s no direct UPI or bank deposit. You fund your account via P2P, paying a verified seller via UPI who releases USDT. This adds 15–30 minutes to every deposit and introduces counterparty risk. Check our P2P crypto exchange guide for how the P2P flow works.
+ Strengths
- World’s deepest liquidity, best for large BTC orders
- 0% maker / 0.10% taker, lowest among offshore exchanges
- Quarterly Proof of Reserves published
- Full Binance ecosystem: spot, futures, staking, launchpad
− Watch out
- No direct UPI/bank deposit, P2P INR only (15–30 min, counterparty risk)
- P2P self-deduct TDS obligation, easy to miss, CBDT penalty risk
- ₹188cr FIU fine history; under compliance monitoring
KuCoin
KuCoin was the first offshore exchange to register with FIU-IND in March 2024, paying the smallest fine (₹3.45 lakh) of the offshore exchanges. It’s the best choice for Indians who want a wide altcoin selection with built-in trading bots, its grid bots and DCA bots are among the best in the industry. INR deposits are via P2P only, which is the standard limitation for offshore exchanges in India. Fees are 0.1% maker/taker standard.
+ Strengths
- First offshore exchange to register with FIU-IND
- Built-in grid bots and DCA bots, best bot toolset in India
- 700+ coins, widest altcoin access among India-compliant offshore exchanges
- Competitive 0.1% flat maker/taker fees
− Watch out
- P2P-only INR deposits, no direct UPI integration
- P2P TDS self-deduct obligation for Indian users
- 2020 hack ($281M), recovered 84% via insurance, but history to know
Bybit
Bybit registered with FIU-IND in February 2025 after settling a ₹9.27 crore fine and suspending India services during the enforcement period. It’s now fully operational for Indian users and remains the top choice for derivatives trading, its futures platform, copy trading feature, and liquidity depth are hard to match. INR funding is via P2P (same as Binance and KuCoin). For context on derivatives options, see our best crypto exchanges comparison.
+ Strengths
- Best derivatives and futures depth among India-compliant exchanges
- Copy trading, follow top traders automatically
- Competitive 0.1% maker/taker spot fees
- Covered the $1.4B Bybit hack (Feb 2025) fully, no user losses
− Watch out
- P2P-only INR funding, no direct UPI deposit
- Suspended India services in 2024 before FIU registration
- $1.4B Lazarus Group hack (Feb 2025), funds covered, but largest crypto theft ever
Giottus
Giottus has one edge no other Indian exchange can match: 20+ Indian languages across both the app and customer support. For users who prefer Tamil, Telugu, Kannada, Marathi, or another regional language, that support often decides where they sign up. The exchange also uses BitGo cold wallet custody with insurance, offers a Giottus Signals feature, and supports SIP. It won Best Crypto Exchange in India at the Global Financial Market Review 2025. To keep your coins safe long-term, pair any exchange with a hardware wallet.
+ Strengths
- 20+ Indian language support, unique in the market
- BitGo cold wallet custody with insurance
- Self-custody option: retain your own keys
- Giottus Signals and SIP for passive investors
− Watch out
- Smaller user base (1.3M) means thinner order books on some pairs
- Fees not prominently disclosed, verify current schedule on site
- Less suitable for active high-frequency trading
Safety record
Incidents & who to avoid.
Exchanges to avoid in India
These exchanges are excluded from our rankings for specific, documented reasons. Know the history before you deposit.
On July 18, 2024, Lazarus Group (North Korea) exploited WazirX’s Liminal-custodied multisig wallet and stole $234M, roughly half the exchange’s total assets. After Singapore High Court approved a restructuring scheme in October 2025, trading resumed on October 24, 2025. About 85% of pre-hack balances were returned; the remaining 15% was converted to Recovery Tokens that pay out from future profits (if any). Only $3M of the $234M has been frozen or recovered. In November 2025, WazirX launched a ₹99/month subscription model that users reported auto-enrolled them and drained balances. Until user funds are fully restored, this exchange doesn’t belong on any recommended list.
In February 2022, Bitbns suffered a $7.5M hack. The exchange hid this from users for 13+ months, calling it “system maintenance.” The breach was only disclosed in March 2023 after on-chain investigator ZachXBT exposed it publicly. The CEO later stated law enforcement advised keeping it confidential. Whatever the rationale, concealing a security breach from users whose funds are at risk is a fundamental breach of trust. Ongoing withdrawal delay complaints on Trustpilot reinforce this pattern.
BYDFi does not appear in FIU-IND’s list of 49 registered VASPs as of FY 2024-25. Using an unregistered exchange in India is a legal grey area, avoid until confirmed FIU registration.
FIU-registered with 350,000 users, but trading volume is too thin to execute any meaningful order at a fair price. Not suitable for real trades.
The right way to handle incidents
How CoinDCX handled its July 2025 security incident sets the standard for what transparency looks like.
Hackers stole $44M from CoinDCX’s internal operational hot wallet using a fake job-offer phishing attack that installed malware on an employee’s laptop. Crucially: these were CoinDCX’s own operational funds, not user deposits. The exchange disclosed the incident the same day, fulfilled all user withdrawal requests without interruption, and Bengaluru police made arrests. This is how a security incident should be handled.
FIU fine history (India)
| Exchange | Fine | Registered |
|---|---|---|
| Binance | ₹188 crore | Aug 2024 |
| Bybit | ₹9.27 crore | Feb 2025 |
| KuCoin | ₹3.45 lakh | Mar 2024 |
All three are now fully FIU-IND registered and operational for Indian users. Past fines are settled.
2026 India trends
Zero-fee race + what’s reshaping Indian crypto.
Six shifts happening right now that affect which exchange you should use and how much your trades actually cost.
India-specific data
INR deposit speed + FIU compliance record.
Two panels that matter most to Indian users: how fast you can get INR in, and the regulatory history of each exchange with FIU-IND.
INR deposit speed
Domestic exchanges with direct UPI integration clear deposits almost instantly. P2P-only offshore exchanges add 15–30 minutes and counterparty risk at every top-up.
CoinDCX~Instant (UPI)CoinSwitch~Instant (UPI)Mudrex~Instant (UPI)ZebPay~Instant (UPI)Giottus~Instant (UPI)Coinbase~Instant (direct INR)
Binance15–30 min (P2P)
KuCoin15–30 min (P2P)
Bybit15–30 min (P2P)FIU-IND compliance history
India mandated FIU registration under PMLA in March 2023. Domestic exchanges were already compliant. Offshore exchanges registered after fines, all are now operational.
CoinDCXAlways compliantCoinSwitchAlways compliantZebPayAlways compliantKuCoin₹3.45L fine · Mar 2024Binance₹188cr fine · Aug 2024Bybit₹9.27cr fine · Feb 2025All fines are settled. All 9 exchanges in our ranking are FIU-IND registered and legally operational for Indian users as of June 2026.
India tax guide
Crypto tax in India, plain and simple.
India’s crypto tax rules are among the strictest in the world. The rules below apply to every trade you make, and Budget 2026 left them unchanged. For detailed filing, Koinly supports Indian exchanges and auto-generates Schedule VDA reports.
| Rule | Section | Rate / Threshold | Notes |
|---|---|---|---|
| Flat gain tax | 115BBH | 30% + 4% cess = 31.2% | On all VDA gains. No deductions except cost of acquisition. |
| No loss offset | 115BBH | Zero offset allowed | Loss on BTC cannot offset gain on ETH, or any other VDA or income. |
| TDS at sell | 194S | 1% of sale value | Threshold: ₹10,000/year (general); ₹50,000 for specified persons. Refundable via ITR if over-deducted. |
| Auto-deducted (domestic) | 194S | Exchange handles it | CoinDCX, CoinSwitch, ZebPay, Mudrex, Giottus deduct TDS at point of sale. Appears in Form 26AS. |
| P2P self-deduct | 194S | Buyer’s obligation | On P2P (Binance, KuCoin, Bybit), the buyer must self-deduct and deposit TDS. Wide non-compliance; CBDT enforcement risk. |
| Wallet transfers | 194S | No TDS | Moving crypto between your own wallets does not trigger TDS. Only transfers “against consideration” (a sale or swap) are taxable events. |
| Budget 2026 | Finance Bill 2026 | Unchanged | Industry lobbied to raise TDS threshold to ₹5L; request rejected. 30% + 1% TDS remains in force. |
| New penalties (Apr 2026) | IT Act 2025 | ₹200/day + ₹50,000 | ₹200/day for non-reporting; ₹50,000 (~$545) for inaccurate reporting. Effective April 1, 2026. |
| FATCA/CRS reporting | CBDT Jan 2026 | Mandatory | Crypto reclassified as financial assets. Exchanges must report transactions under FATCA/CRS from January 1, 2026. |
| VDA definition expanded | IT Act 2025 (sub-d) | Effective Apr 1, 2026 | “Crypto-asset” now explicitly includes BTC, ETH, SOL, stablecoins, and NFTs. |
CLAIM YOUR TDS BACK
The 1% TDS deducted at every sell is NOT an extra tax, it’s advance tax. If your total tax liability for the year is lower than the TDS already deducted, you get the difference back as an ITR refund. File Schedule VDA in your income tax return. Use Form 26AS to see all TDS deducted by exchanges.
USE A TAX TOOL
Koinly supports all major Indian exchanges via API or CSV and auto-generates the Schedule VDA summary you need for your ITR. CoinDCX also integrates with KoinX for in-app tax reporting. Manual calculation across 100s of trades is error-prone, use software.
Regulatory history
India crypto regulation, 2013 → today.
India’s crypto journey has swung from acceptance to near-ban and back. That history shows you how stable the current framework is and why FIU registration matters.
India’s first Bitcoin exchange launched in Bengaluru. No regulatory framework yet, operating in a grey zone.
RBI banned banks from serving crypto exchanges. Most domestic exchanges suspended INR deposits. Industry nearly collapsed.
Supreme Court of India struck down the RBI circular as unconstitutional. Banks could serve crypto exchanges again. Industry revived.
VDA service providers brought under the Prevention of Money Laundering Act. FIU-IND registration became mandatory. Travel Rule enforcement began.
Lazarus Group (North Korea) exploited WazirX’s Liminal-custodied multisig wallet. $234M stolen, roughly half the exchange’s assets. Largest India crypto incident ever.
Binance paid India’s largest crypto exchange penalty and completed FIU-IND registration. Largest offshore exchange now India-compliant.
Bybit settled its FIU enforcement order and completed registration. Resumed India services after a period of suspension.
Singapore High Court approved restructuring. Trading resumed October 24. 85% of pre-hack balances returned; 15% converted to Recovery Tokens. Only $3M of $234M recovered.
Union Budget 2026 kept 30% flat tax and 1% TDS unchanged despite industry lobbying to raise the TDS threshold. New ₹200/day and ₹50,000 penalties added for non-reporting.
WazirX, CoinDCX, and CoinSwitch all announced zero-fee or subscription trading models within weeks. Revenue model shifting from per-trade fees to subscription and spread-based monetization.
Coinbase launched direct BTC-INR trading and INR deposit/withdrawal rails for Indian users. First US-listed exchange to operate direct INR infrastructure in India.
The framework is stable, for now.
India has 49 FIU-registered VASPs and a functioning PMLA compliance regime. The 30% tax and 1% TDS remain the core burden. A dedicated crypto law (COINS Act or equivalent) has not passed as of June 2026, multi-regulator oversight (MoF, FIU, RBI, SEBI, CBDT) continues. For self-custody of holdings, a hardware wallet keeps your coins beyond any exchange’s reach.
Beginner playbook
First Bitcoin in India in 5 steps.
Never bought crypto before? Follow this in order. Each step takes 5–15 minutes. TDS applies when you sell, not when you buy.
Choose a FIU-registered exchange
Use only exchanges registered with FIU-IND under PMLA. For first-timers in India, CoinDCX or CoinSwitch are the easiest starting points, direct UPI deposits, clean apps, and strong security records.
5 minComplete PAN + Aadhaar KYC
All FIU-registered exchanges require PAN card and Aadhaar for KYC. Have both ready as photos or via DigiLocker. KYC approval is usually under 30 minutes on domestic exchanges.
10 minDeposit INR via UPI
Link your UPI app and transfer a small test amount first, ₹500 to ₹1,000. Domestic exchanges (CoinDCX, CoinSwitch, ZebPay, Mudrex, Giottus) credit this instantly with no deposit fee.
5 minBuy Bitcoin (BTC)
Use the spot market, not leverage. Place a simple buy order for the INR amount you deposited. Start small until you’re comfortable with how the interface works. Note: TDS applies at sell, not buy.
5 minEnable 2FA + consider self-custody
Set up Google Authenticator or Authy (not SMS-based 2FA). For any holding above ₹50,000, consider moving to a hardware wallet, the exchange holds your keys until you do. Check our best crypto wallet guide for options.
10 minREMEMBER: TDS AT SELL, NOT BUY
Buying Bitcoin in India is a non-taxable event. The 1% TDS (Section 194S) only triggers when you sell or swap. Domestic exchanges deduct this automatically and you’ll see it in Form 26AS. You can claim it back in your ITR if your total tax liability is lower than the TDS deducted.
Use-case picker
Find the right exchange for your situation.
Pick the scenario that fits you. Each card shows the recommended exchange for Indian users and why it’s the right call.
First-time buyer in India
You want to buy your first ₹5,000 of Bitcoin without learning order books. Direct UPI, fast KYC, clean app.
Passive SIP investor
You want to invest a fixed amount each month in a basket of crypto without tracking the market daily.
Biggest community
You want India’s most popular platform, 20M+ users, the deepest INR liquidity, and a PRO futures option.
Long-term HODLer
You’re buying and holding for years. You want the cleanest security record and highest cold storage ratio in India.
Global exchange + INR
You want a globally regulated exchange with direct INR rails, not P2P. Coinbase now offers both in India.
Altcoin hunter
You want the widest altcoin selection available to Indian users, with built-in trading bots and DCA tools.
Derivatives trader
You trade futures and perpetuals. Funding rates, order book depth, and copy trading depth matter most.
Regional language user
You prefer using crypto apps in Tamil, Telugu, Kannada, Marathi, or another Indian language. Giottus is the only exchange that serves you.
FAQ
8 questions Indian Bitcoin buyers ask most.
Is Bitcoin legal in India in 2026?
Yes. Bitcoin and other VDAs are legal to buy, sell, and hold in India. The Supreme Court struck down the RBI’s 2018 banking ban in March 2020. Today, VDA service providers must register with FIU-IND under PMLA, all 9 exchanges in this guide are registered. There is no ban; gains are taxed at 30% flat plus 4% cess under Section 115BBH.
How is Bitcoin taxed in India?
All VDA gains are taxed at 30% flat plus 4% health and education cess, an effective rate of 31.2%, under Section 115BBH. You cannot offset losses from one VDA against gains on another. Beyond that, 1% TDS (Section 194S) is deducted at every sale above ₹10,000/year. Domestic exchanges handle TDS automatically; on P2P the buyer must self-deduct. Budget 2026 kept these rates unchanged.
Is the 1% TDS refundable?
Yes. The 1% TDS deducted at every sell is advance tax, not a final tax. If your total crypto tax liability for the year is less than the TDS already collected, you get the difference back as an ITR refund. File Schedule VDA in your income tax return and check Form 26AS for all TDS records. Many small investors end up with a refund.
Is WazirX safe to use now?
We don’t recommend WazirX. In July 2024, Lazarus Group stole $234M from the exchange, roughly half its assets. While trading resumed in October 2025 after a Singapore court-approved restructuring, only 85% of pre-hack balances were returned. The remaining 15% was converted to Recovery Tokens that pay out from future profits, with only $3M of the $234M recovered so far. A November 2025 subscription model drew widespread backlash over auto-enrollment complaints. Until user funds are fully restored, the risk profile is too high.
Which Indian exchange has the lowest fees?
CoinSwitch offers spot fees from 0.04% at higher volume tiers, making it the lowest-fee domestic option. Binance has 0% maker and 0.10% taker but requires P2P INR funding and self-managed TDS. CoinDCX charges 0.20% base but entered the zero-fee race in March 2026, check the current offer on site. Remember: the 1% TDS at sell applies on all domestic exchanges regardless of trading fee.
Is Binance legal for Indians to use?
Yes. Binance completed FIU-IND registration in August 2024 after paying a ₹188 crore fine. It is fully legal for Indian users. The practical limitation is that Binance has no direct UPI or bank deposit integration, Indian users must fund accounts via the P2P marketplace, paying a verified seller via UPI who then releases USDT. P2P users are also responsible for self-deducting and depositing the 1% TDS, which many miss.
Which exchange is best for beginners in India?
CoinDCX is our top pick for Indian beginners. It offers direct UPI deposits, PAN and Aadhaar KYC, a ₹57.5 crore investor protection fund, and quarterly Proof of Reserves, the strongest security transparency of any Indian exchange. CoinSwitch is a close second with 20M users and a simpler beginner interface. Both auto-deduct TDS so you don’t need to manage it manually.
Do wallet transfers between my own wallets trigger TDS?
No. Moving crypto between your own wallets, for example, from CoinDCX to your hardware wallet, does not trigger TDS under Section 194S. TDS only applies to transfers “against consideration,” meaning a sale or swap where you receive something in return. Simple self-custody transfers are not taxable events. This makes holding in a hardware wallet tax-neutral from a TDS perspective.
