Looking to explore cryptocurrency exchanges in India? Dive into our handpicked selection of the finest Indian crypto exchanges for 2024. With a plethora of options available, determining the best exchanges can be daunting. Fear not, as we’ve meticulously assessed safety, minimum deposit size, coin diversity, mobile app availability, user base, and standout features to streamline your decision-making process.
Seeking a crypto exchange with low fees, stellar security, and a proven track record? Look no further. While the ultimate choice depends on your personal preferences, our comprehensive list aims to guide you towards the ideal exchange for your cryptocurrency endeavors.
Let’s delve into the specifics of each top contender:
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WazirX
Established in 2018, WazirX boasts a massive user base of 6 million traders, facilitating $5.4 billion in monthly transactions. As part of the Binance group, they actively contribute to fostering crypto adoption in India through initiatives like the Blockchain India Fund.
Is WazirX safe?
Yes, WazirX prioritizes security with measures like 2FA & OTPs, a bug bounty program, and regular audits. While the platform itself hasn’t been hacked, individual accounts may face risks like phishing attempts.
CoinDCX
With over 10 million users, CoinDCX has emerged as a favorite among Indian crypto enthusiasts. Offering a simple interface and robust security protocols, they provide various trading options, including spot, margin, and futures trading, alongside lending and staking opportunities.
Is CoinDCX safe?
Yes, CoinDCX adheres to stringent security principles, storing 95% of funds in multi-sig, cold wallets, and offering 2FA for personal account security.
Both exchanges require KYC verification and comply with Indian regulations. While WazirX’s fees are tiered based on trading volume and WRX holdings, CoinDCX’s fees range from 0.04% to 0.5%, depending on trading volume. Deposit and withdrawal limits vary accordingly.
Bitbns
Established in 2017, Bitbns is a firm believer in the future of cryptocurrency. With a user-friendly interface and a diverse range of supported crypto assets, Bitbns has risen to the top as India’s leading crypto exchange, boasting over 4 million users.
Safety and Security: Bitbns prioritizes security with features like 2FA and Google authentication, alongside state-of-the-art technology architecture and robust security protocols.
Incident Response: While Bitbns faced a minor hack in early 2022, the platform’s stance on refunds related to such incidents remains undisclosed.
Account Control: As a centralized exchange, Bitbns does not grant users ownership of their keys, and accounts may be frozen under certain circumstances.
Asset Variety: Bitbns offers access to over 400 tokens for trading, ensuring ample choices for investors.
Mobile Accessibility: Users can conveniently access Bitbns via its mobile app, available for both iOS and Android devices.
Fees and Limits: Bitbns operates on a fee structure based on trading volume, with fees typically ranging between 0.25% and 0.03%. Deposit and withdrawal limits are in place to ensure smooth transactions.
KYC Compliance: While not mandatory for crypto transactions, KYC is required for fiat currency transactions on Bitbns, ensuring regulatory compliance.
Legal Standing: Rest assured, Bitbns operates within the legal framework set forth by the Indian government.
Mudrex
Simplifying crypto investment for Indian users, Mudrex offers an intuitive platform for buying, selling, and trading cryptocurrencies. Investors can fund their accounts with crypto or INR and explore various investment options, including Coin Sets and vaults for passive income.
Security Measures: Mudrex implements stringent security measures, including 2FA and Google authentication, while also benefiting from partnerships with trusted entities like Binance Institutional Custody.
Incident Response: To date, Mudrex remains uncompromised by hacking attempts, and the platform assures refunds in case of hacks related to its exchange.
Account Control: Mudrex, as a custodial exchange, reserves the right to freeze accounts in compliance with regulatory requirements.
Asset Variety: Mudrex offers access to over 150 tokens for investment, catering to diverse investment preferences.
Mobile Accessibility: The Mudrex mobile app ensures seamless access for users on the go, available for both iOS and Android devices.
Fees and Limits: Mudrex charges a flat fee of 0.2% on all transactions, with deposit and withdrawal limits in place for user convenience.
KYC Compliance: Completion of identity verification is mandatory for all Mudrex users, ensuring adherence to regulatory standards.
Legal Compliance: As a registered Virtual Asset Service Provider, Mudrex complies with both Indian and EU regulations, ensuring a legal and secure trading environment.
CoinSwitch
Launched in 2017, CoinSwitch stands out as an accessible, user-friendly, and non-custodial crypto exchange in India. With over 10 million downloads on Google Play, CoinSwitch facilitates seamless trading experiences by connecting users to different exchanges to secure optimal exchange rates.
Security Protocols: CoinSwitch boasts ISO 270001 and SOC2 Type 2 certification, alongside 2FA and OTP for enhanced account security.
Hack History: Being non-custodial, CoinSwitch minimizes hacking risks, with no incidents reported to date.
Account Ownership: CoinSwitch’s non-custodial model grants users ownership of their keys, ensuring greater control over their assets.
Incident Response: CoinSwitch has the authority to freeze accounts as necessary, with service restoration following regulatory clarifications.
Asset Variety: With over 170 coins available, CoinSwitch offers ample options for diversified investments.
Mobile Accessibility: The CoinSwitch mobile app provides convenient access for users, available on both iOS and Android platforms.
Fees and Limits: While CoinSwitch does not impose fees directly, users may incur fees depending on the exchanges utilized. Deposit and withdrawal limits ensure smooth transactions.
KYC Compliance: CoinSwitch adheres to mandatory KYC requirements in India, ensuring regulatory compliance.
Legal Standing: CoinSwitch operates within the legal framework outlined by the Indian government, providing users with a secure and compliant trading platform.
ZebPay
Established in 2014 and reintroduced in India in 2020, ZebPay has garnered over 5 million users and facilitated fiat trades surpassing 10 billion. It stands out among Indian crypto exchanges with its array of services, encompassing ZebPay exchange, OTC trading, and lending.
Is ZebPay Safe? ZebPay prioritizes security with 98% of assets stored in cold storage on geographically dispersed HSM air-gapped machines. Their proprietary security protocol, Omnitrixx, along with ISO 27001 certification, and memberships in IAMAI and BAAC in India, ensure robust security measures.
Key Features and Offerings: With a comprehensive product lineup, ZebPay caters to diverse user needs, providing an intuitive platform, OTC trading, and lending services, making it a preferred choice for Indian crypto enthusiasts.
Paxful
Since its inception in 2015, Paxful has emerged as a reputable digital marketplace and wallet, offering a global platform for buying, selling, and spending popular cryptocurrencies. Noteworthy is their initiative, La Casa Del Bitcoin, in El Salvador, promoting Bitcoin adoption as legal tender.
Is Paxful Safe? Paxful ensures safety through 2FA, OTP, and a partnership with iProov for KYC data authentication. Its peer-to-peer trading platform incorporates features like escrow accounts and security deposits, enhancing transaction security.
Key Features and Offerings: Paxful facilitates seamless trading experiences with a focus on security, offering a user-friendly platform and robust support for buying, selling, and spending cryptocurrencies.
Binance India
As part of the globally acclaimed Binance exchange, Binance India provides a comprehensive suite of products, including crypto-to-fiat trading, derivatives, and earning opportunities through vaults and liquidity farm programs. With over 28 million users and daily trading volumes in billions, Binance stands as a market leader.
Is Binance India Safe? Binance prioritizes security with 2FA, secure offline cold storage, and real-time monitoring, ensuring a secure trading environment for users.
Key Features and Offerings: With a vast selection of cryptocurrencies, competitive fee structures, and advanced trading features, Binance India caters to both novice and experienced traders, offering unparalleled liquidity and security.
Unocoin
Established in 2013, Unocoin is one of the oldest crypto exchanges in India, boasting 2.34 million customers and support for over 50 cryptocurrencies. Offering features like auto sell and systematic buying plans, Unocoin caters to a diverse range of investor needs.
Is Unocoin Safe? Unocoin employs robust security protocols, including AES-256 encryption for private keys and 2FA, ensuring the safety of user assets.
Key Features and Offerings: With a focus on user experience and security, Unocoin provides a user-friendly platform for buying, selling, and trading cryptocurrencies, making it a preferred choice for Indian investors.
In the dynamic landscape of Indian crypto exchanges, ZebPay, Paxful, Binance India, and Unocoin stand out for their robust security measures, diverse product offerings, and user-centric platforms. Whether you’re a seasoned trader or a newcomer to the crypto space, these exchanges offer the reliability, security, and convenience essential for navigating the Indian cryptocurrency market in 2024.