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India has the largest userbase of cryptocurrency owners. But many a times trading even the most popular cryptocurrency, Bitcoin, becomes unnecessarily difficult. There are exchanges that promise excellent service and yet deliver nothing in comparison to their promises.
We have curated a list of top exchanges that deliver a great and smooth experience when you need to buy Bitcoin.
|Crypto platform||Fee||Security||Mobile friendly||Overall||Deposit Option|
Table of Contents
- A bitcoin exchange is a trading platform helping investors trade bitcoin and other cryptocurrencies.
- WazirX, BuyUcoin, CoinDCX, Unocoin, and Bitbns can be considered the best crypto exchanges in India.
- WazirX is an Indian trading platform, later acquired by Binance (Get 10% OFF your trading fees), which provides many opportunities for traders.
- BuyUcoin is also an Indian trading platform with a minimum withdrawal fee on BTC when compared to its competitors.
- CoinDCX provides beginners with an opportunity to learn and kick start their trading journey and charge the minimum taker and maker fees.
- Unocoin is the oldest exchange in India and hence the most experienced. Yet, they charge a significant fee.
- Bitbns happens to one of the most simple, attractive, and secure platforms to trade your assets.
What is a Bitcoin Exchange?
An exchange is a platform where users come to buy or sell cryptocurrencies. The platform provide a meeting place for buyers and seller and collects a service fee in return. They help traders to buy and sell cryptocurrencies at best available prices through competitive bidding.
How does a Bitcoin Exchange work?
Almost all the exchanges follow a similar basic layout. The crypto platforms connect the buyers and sellers willing to make a trade. We can have an overview of their functioning as:
- To buy/ sell a bitcoin, you need to place a Limit or Market order. A limit order is where you want to buy or sell at a certain level or at a better price if possible. A market order lets you sell Bitcoin at a price offered by others.
- If both your and the seller’s price offering is the same, then the exchange connects you to the seller (in the backend), and the trade succeeds.
To begin your trading journey, we have listed some of the best trading platforms in India.
Best Bitcoin Exchanges in India
Here is our list of top exchanges where you could easily buy and sell Bitcoin in India. Since, all of them are Indian exchanges, they have easy onboarding process for
WazirX was founded by the Indian crypto entrepreneur Nischal Shetty and is functioning since 2017. It is considered the most used trading exchange by Indians. Further, the platform offers various services such as WazirX P2P, STF, OTC Desk, and an NFT MarketPlace. In addition, it facilitates the direct transfer of funds to Binance without any fees.
We have brought you a complete guide on how to use WazirX in this article.
Is WazirX Safe?
Yes, WazirX is entirely safe to use as it offers two-factor authentication for every login. Further, they notify via mail and from the notifications tab of mobile for every trade completing a successful exchange.
WazirX provides you with an app lock to prevent access to your wallet by an intruder. They also store the majority of cryptocurrencies in cold storage.
They charge a fee of 0.2% as a maker and taker fee. They do not charge any fee for depositing a cryptocurrency. However, they do charge a significant fee on bank transfers.
In the case of withdrawals, they charge 0.0005 BTC per BTC withdrawal and INR 10 withdrawal fees.
WazirX Payment Methods
WazirX accepts a deposit in cryptocurrencies, bank transfers(NEFT,RTGS and IMPS), WazirX P2P. However, there’s a fee on bank transfers(IMPS), whereas there are variable fee on NEFT or RTGS as per your bank.
How to add or deposit money in WazirX?
Depositing money on WazirX is easier than it appears to be. Just follow the steps and you would be able to deposit money in WazirX.
- Go to account settings and select payment options. You will need to fill your bank details or Mobikwik details as per your choice. You can choose either of them. A nominal (less than 5 rupees usually) fee may be charged. The fee is refundable.
- Go to the Funds tab and select INR. Click on instant deposit for bank transfer or Mobikwik wallet transfer. You will be redirected to complete the transaction. Make sure you do not refresh or close the window during the process.
- Wait for your funds to show on WazirX account. Contact customer care if it takes more than one hour. The minimum limit is Rs. 100 and the maximum limit is Rs 4,99,000.
How to withdraw from WazirX?
Withdrawing INR from WazirX is even more easy than any other exchange. You just need to follow these simple steps.
- Click on Funds in the top bar.
- Under INR-Rupee click on the Withdraw button.
- Select your bank account. If not added, use the above step to add it.
- Enter the amount, optional remarks and click Withdraw.
WazirX Customer Support
WazirX offers an efficient customer support service. You can reach them out by using their chat feature present on the support page. Moreover, the platform also has a dedicated phone support team to serve its users. You can call WazirX customer care on their toll-free number 1800-309-4499.
WazirX Pros and cons
|They work with Binance (the biggest crypto exchange in the world).||They charge a high maker and taker fee.|
|The platform provides P2P trading with no trading fees.||Only some basic features are available on the mobile application.|
|The platform is mobile friendly with a simple user interface.|
To learn more, read our WazirX review.
CoinDCX is a beginner-friendly crypto exchange. It has significant investment from Coinbase and is considered India’s biggest crypto exchange platform. Further, they also provide you with 100+ cryptocurrencies as an option to make an exchange. The platform offers to teach beginners about trading and the market, hence promoting crypto trading. To learn more, read the CoinDCX review.
Is CoinDCX safe?
Yes, CoinDCX can be considered a safe platform. All of your personal information is secure, and not even an internal member has access to them. Moreover, CoinDCX provides you with two-factor authentication and also a notification for every exchange in the process. They even provide you with insurance by Bitgo, which will cover your losses in case of any security breach.
How to deposit money in CoinDCX?
CoinDCX allows deposits through several options such as IMPS, NEFT, and RTGS. Follow these steps to deposit money in CoinDCX:
- Tap or click on Add Funds.
- Enter the preferred amount and select Bank Transfer(NEFT/RTGS) or Net Banking(IMPS Only).
- Copy the details provided in the above step and select add as beneficiary.
- It is mandatory to enter your registered mobile number in Remarks section of your bank transfer web page or IMPS page.
- Once payment is done, copy the transaction ID and paste it in step 3 to confirm deposit. You will receive a mail very soon.
How to withdraw money from CoinDCX?
To withdraw money from CoinDCX. Follow these simple steps:
- Sell all your cryptocurrencies to receive INR in your CoinDCX account.
- Under Portfolio tab, select Withdraw under INR category.
- There will be 2 OTPs on your email as well as mobile number (or Authenticator if you use any).
- Enter the OTPs and you will receive money in your account within a few minutes.
CoinDCX charges a fee on bank deposits. Further, in the trading fees, they charge you a 0.02% taker and maker fee. Their charge is based on your trading volume. You are assigned one of ten levels starting from 5 lakh rupees volume for first level and 200 crore plus for the level 10.
CoinDCX Payment Methods
You can deposit either INR or a cryptocurrency to begin trading. They allow you to deposit INR through bank transfers, net banking, NEFT/RTGS, IMPS, and UPI.
To withdraw your funds in INR, you can make a direct bank transfer.
CoinDCX Pros and Cons
|The exchange charges one of the minimum maker and taker fees.||Charge a significant fee on Bitcoin withdrawal.|
|Provide insurance to the assets of traders.|
BuyUcoin is a product developed by three Indian brains and is running since 2016. You can use BuyUcoin to trade bitcoin and other cryptocurrencies. They also provide services to hold or store your Bitcoin in their wallet.
They are one of the best platforms for trading. However, Shinyhunters hacked them in January 2021, which led to a breach and loss of 325k users’ private data. To learn more about BuyUcoin, read our BuyUcoin review.
Is BuyUcoin Safe?
Yes, BuyUcoin is a safe platform as it encrypts users’ passwords using the Salting algorithm, preventing access to the data. Moreover, they store 95% of funds in cold offline storage and provide two-factor authentication. The BuyUcoin mobile application is available on google play store and the apple store.
BuyUcoin deposit fees depend on their banking partner, a maker/taker fee of 0.24%, and no fee is charged for OTC desk transactions.
On withdrawing a bitcoin, you’ll have to pay 0.00026 BTC and 0.00384 ETH for Ethereum. However, there are no charges for depositing a Bitcoin or any other cryptocurrency.
BuyUcoin Payment Methods
BuyUcoin accepts payments through debit cards, credit cards, NEFT & RTGS, and Net banking .
BuyUcoin Pros and Cons
|They offer several payment options.||Specific security features are not present on the website.|
|You can trade in more than 40 types of cryptocurrency available.||The platform offers low liquidity.|
|The OTC desk transactions are absolutely free.||BuyUcoin permits trade only in Indian currency for Indian users.|
Unocoin is one of the oldest cryptocurrency exchanges in India. The platform has an effective user interface supporting multi-crypto assets. Moreover, it has a mobile application that allows users to invest simply by creating an account and getting done with the KYC. Additionally, the Unocoin customer care service is focused on serving the needs of its users.
Is Unocoin Safe?
Yes, Unocoin is a safe platform as it provides two-factor authentication. Apart from this, you can secure your mobile application with fingerprint protection. Whenever you enter a wrong password or the application doesn’t recognize your fingerprint, the application logs you out.
The exchange charges a 0.5% fee on Bitcoin exchanges, and on reaching the gold membership, it reduces to 0.5%. Whereas on withdrawing a bitcoin, Unocoin charges a fee of 0.0005% per BTC.
Unocoin also charges a maker fee of 0% and a taker fee of 0.3%, apart from the 28% GST charges on transaction fees.
Unocoin Payment Methods
For a withdrawal, Unocoin transfers the amount directly to your bank account through NEFT or bank transfer. However, you can use debit/credit cards, and bank transfer for making deposits.
Unocoin Pros and Cons
|They store investors’ assets in cold storage.||Fees are higher as compared to its competitors.|
|They provide high liquidity.|
Bitbns is one of the platforms with an attractive and simple user interface. It is designed keeping in mind the slow pace of a beginner and all the requirements of an investor. You can also have a great experience by using Bitbns mobile app. Moreover, Bitbns provides you with an option to automate your trades, deciding in advance at what price you wish to sell your assets. To learn more, read our Bitbns review.
Is Bitbns Safe?
Yes, Bitbns is safe as it handles its users’ privacy with the utmost care. Besides, Bitbns is also equipped with the best Grade-A security feature, keeping all your purchases secure. Moreover, the platform invites security groups and individuals who study them across all the platforms and find loopholes in their system, leaving no chance for a breach. They also provide two-factor authentication for user data safety. You can reach them by raising a ticket, and they would reach out to you regarding your concerns.
Bitbns charges a flat 0.25% trading fee from its users, excluding those with a VIP pass. You can quickly get a VIP service by having at least $25 worth of BNS tokens.
You can see their fee division in the table below:
Bitbns Payment Methods
Bitbns supports several payment options. You can also deposit through NEFT, IMPS, RTGS, Net banking, and peer-to-peer deposits.
Bitbns Customer Support
Bitbns customer support offers you to ask your queries by raising a ticket. Also, you can reach out to the platform on Telegram, Instagram, Twitter and Facebook.
Bitbns Pros and Cons
|They provide higher liquidity as compared to their competitors.||The minimum deposit amount is INR 1000.|
|They provide a unique feature called Systematic investment in Bitcoins.||They charge a high fee compared to other international exchanges.|
Considering all the features like security, beginner-friendly, the fee charged, user interface, deposit methods, we believe WazirX would be one of the best choices for a beginner. However, WazirX has a high maker and taker fee. If you want lower fees choose CoinDCX or Bitbns. We suggest exchanges in the order we listed them, which will help you get a smoother experience.
Frequently Asked Questions
How to buy Bitcoin in India?
You can buy bitcoin from India’s trading platforms and then store them in your wallets. You can also buy a bitcoin through various platforms to provide peer-to-peer services, such as LocalBitcoins, WazirX, Paxful, etc.
How to invest in Bitcoin in India?
There are numerous crypto exchanges in India, providing a trader opportunity to trade in some of the most popular cryptocurrencies and altcoins. You can begin your trading journey by reading our guide on How to Invest in Bitcoin in India?
How to earn Bitcoin in India?
There are many ways to earn Bitcoin. One can be working in the field related to cryptocurrency and taking payments in terms of Bitcoins. You can also earn bitcoins by accepting them as a payment method at your business.
What does Alias mean in WazirX?
Alias simply refers to an alternate name. While entering a payment option on WazirX, you are asked to fill in the alias. Therefore, in this section, you are supposed to enter your name and other details that are required.
How to short Bitcoin in an exchange?
You can short bitcoin through all of these exchanges by selecting margin trading.
How long does Bitcoin take to send?
Bitcoin requires 6 confirmations of 10 mins each on the network and usually takes one to one and a half hour to send Bitcoin.
How to delete WazirX account?
WazirX account can be deleted by contacting customer care through chat.
What is P2P in WazirX?
P2P means person-to-person trading where exchange has just provides a website and buyers and sellers directly trade with each other. The benefit of P2P trading is zero fees. The exchange has no responsibility for the settlement of dues.
How to connect and transfer from WazirX to Binance?
Login to your WazirX account. Click on Funds and select Transfer Funds to Binance at zero fees. Select the crypto and enter the amount to transfer. Finally enter WazirX 2FA to complete the transaction.
How to unlock locked balance in CoinDCX?
Locked balance in CoinDCX which was received through coupon can be unlocked with further purchase and bank verification. It can take 30 days to unlock the amount.