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Cryptocurrency trading has become increasingly popular in India recently, with many exchanges offering their services to Indian traders. However, with so many options, knowing the best crypto exchanges in India can be challenging.
In this article, we will look at some of the best crypto exchanges in India and what makes them stand out from the rest.
10 Best Crypto Exchanges in India
The best crypto exchanges in India have a good reputation, offer a wide variety of coins to trade, and have a user-friendly platform.
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Covo Finance: Overall Best Crypto Exchange in India
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Coinbase: Best crypto exchange for memecoins
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WazirX: Best for local payment gateways
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Binance: Best exchange for buying crypto with fiat
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Perps Exchange: Top platform for margin trading
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Kucoin: Leading exchange for advanced trading tools
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CoinDCX: Biggest India-Based Exchange
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Kraken: Top Exchange for Fiat deposits
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Gemini: Leading exchange for customer support
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Unocoin: Established Exchange That Accepts INR
Best Cryptocurrency Exchanges in India
#1. Covo Finance
Covo Finance is a decentralized crypto exchange quickly becoming one of the best crypto exchanges in India. The platform offers low trading fees and zero price-impact trades for assets resembling centralized exchanges’ functionalities while providing perpetual futures trading with up to 50x leverage.
Through a Gateway partner, Covo Finance enables Indian users to buy cryptocurrency directly in India via its Fiat using bank transfers, debit, and credit cards. Users can create their wallets through Trust Wallet or Metamask to purchase crypto. After obtaining a deposit address, they can purchase their preferred crypto from the platform. The Polygon network currently offers the lowest transaction fees, which helps to save on expensive transaction costs.
The COVO Pools allow users to mint COVO Liquidity Provider Tokens (COVOLP). COVOLP consists of a multi-asset pool of stablecoins, ETH, BTC, and other top altcoins such as Chainlink and Uniswap. In exchange for minting COVOLP, users earn 70% of all fees generated from trades on the Polygon blockchain. Unlike other liquidity pools, this unique mechanism ensures no impermanent loss for COVOLP holders. Additionally, anyone can become a supplier of this liquidity pool and earn fees, making it accessible to all users.
The COVOLP pool acts as a counterparty to traders, as COVOLP token holders provide the liquidity used for leverage trading; they profit when traders lose, and vice versa. Furthermore, the COVOLP token can be minted using any index asset, including BTC, ETH, USDC, etc., and burnt to redeem any index asset. Unlike the COVO token, it is automatically staked and not transferable.
For maintaining the pool’s composition ratio, liquidity providers are incentivized to mint COVOLP with assets currently underweighted in the pool based on its current composition. Similarly, when redeeming COVOLP for any index assets, liquidity providers are rewarded for selecting to receive assets currently overweight in the pool.
Covo Finance also has its utility and governance token, the COVO token. Staking COVO in the COVO ecosystem provides users multiple rewards, including 30% of all generated protocol fees distributed to COVO stakers, which are paid in Matic. Stakers also earn escrowed COVO (esCOVO) tokens, which can be either staked for rewards or vested to COVO Token. The esCOVO get converted back into COVO every second with 100% conversion in over 12 months when a User chooses to vest their esCOVO. Furthermore, stakers earn Multiplier Points that boost their yield and reward long-term holders without contributing to token inflation.
The innovative COVO Pools mechanism, low trading fees, and wide range of tokenization options, along with its utility and governance token, COVO, make it one of the best crypto exchanges in India. With its unique features and incentives, Covo is a platform worth considering for anyone looking to trade and earn interest on their crypto.
#2. Coinbase
Coinbase is a leading cryptocurrency exchange that offers users a wide range of features. One of the most notable features is the ability to buy and sell any digital currency and keep track of them all in one place, which makes it easy for users to manage their portfolios and make informed trading decisions.
Another great feature of Coinbase is the ability to schedule currency trading daily, weekly, or monthly, allowing users to take advantage of market fluctuations and make the most of their investments. Additionally, Coinbase stores users’ funds in a vault for added security, giving users peace of mind regarding their digital assets.
Coinbase is also one of the largest cryptocurrency exchanges in the world, making it a trusted and reliable platform for users. It is available in over 100 countries, including India, and offers Rs. 400 in free Bitcoin for signing up.
Coinbase has a simple and easy-to-use interface, making it accessible for all experience levels. It has many payment options, including PayPal, direct bank deposits, and credit/debit card payments. Furthermore, it supports a variety of fiat currencies, including INR, USD, EUR, and GBP, making it easy for users to make transactions in their preferred currency.
Coinbase offers more than 130 different cryptocurrencies and supports dApps and margin trading. It also helps DeFi (Decentralized Finance), a new and exciting trend in the cryptocurrency world.
However, Coinbase does have some downsides. One of the biggest complaints is its complicated fee structure, making it difficult for users to understand how much they will be charged for each transaction. Additionally, it currently does not support NFT (Non-Fungible Token) trading.
Coinbase is an excellent option for a reliable and feature-rich cryptocurrency exchange. With its easy-to-use interface, wide range of payment options and support for various cryptocurrencies, it is one of the best options for Indian users. Furthermore, its Vault feature provides extra security and peace of mind to users holding their crypto assets.
#3. WazirX
WazirX is a Mumbai-based cryptocurrency exchange that has quickly become one of India’s most popular and widely used platforms. The crypto exchange, which was founded in 2018, has grown to boast over 2 million registered users and has established itself as a leading player in the Indian crypto market.
One of the critical reasons for WazirX’s success is its user-friendly interface, which is designed to be accessible even to those new to the world of crypto trading. The platform offers a wide range of trading pairs, including popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, as well as over 200 other altcoins.
In addition to its traditional trading platform, WazirX also offers a P2P (peer-to-peer) trading platform, which allows users to buy and sell cryptocurrencies directly with other users. This feature is handy for those looking to trade crypto in India, where regulations make purchasing crypto through traditional channels challenging.
Another significant advantage of WazirX is its low trading fees. The platform charges a rate of 0.2% for both maker and taker trades, which is competitive with other exchanges in the market. Additionally, the platform has a minimum investment requirement of just Rs. 100, making it accessible to many investors.
WazirX’s customer service is also noteworthy, with the team known for being friendly and responsive to user queries and concerns. Additionally, the platform stores 95% of its funds in cold storage, providing an extra layer of security for users’ assets.
Despite its many strengths, WazirX has its weaknesses. The platform lacks margin trading, which may be a deal-breaker for some traders. Additionally, the P2P platform only supports eight coins, which may limit the options available to some users.
Overall, WazirX is a top-performing cryptocurrency exchange in India. Its user-friendly interface, wide range of trading pairs, and low fees make it an excellent choice for novice and experienced traders. Additionally, the platform’s P2P trading feature and responsive customer service set it apart from many competitors.
#4. Binance
Binance is one of the leading crypto exchanges in India, offering a wide range of tools for trading online. The platform supports over 600 coins and has a daily trading volume of 1.2 billion, with more than 1,400,000 transactions per second. This high activity level ensures that users always have access to a liquid market, making it easy to buy and sell crypto in India.
One of the critical features of Binance is the 24/7 support it offers its users. Whether you are a beginner or an expert trader, the platform’s customer service team is always available to answer any questions. Additionally, Binance offers basic and advanced exchange interfaces, making it user-friendly for newbies and experts.
Another advantage of Binance is its meager trading fees. The platform charges only 0.1% for trades, which is much lower than the fees charged by other exchanges. Furthermore, if you choose to pay with Binance Coin (BNB), you can enjoy a 25% discount on trading fees.
Binance is also known for its high level of security. The platform keeps 95% of user funds in cold storage, a more secure way to store digital assets. Additionally, Binance has implemented a Know Your Customer (KYC) policy, which requires users to provide photo ID, passport, address verification, driver’s license, and other personal information to ensure the safety of users’ funds.
Binance is available in countries like the UK, India, Germany, France, Belgium, Italy, and over 140 more. It is supported on various systems like Android, iOS, Windows, macOS, and Linux and offers instant account verification.
While Binance is a great platform, it is only available in some states in India. Additionally, some users have raised concerns about the need for more information on security measures implemented by the platform. However, with over nine crore registered users, Binance’s reputation for security and reliability is well established.
Overall, Binance is one of the best crypto exchanges in India. With its wide range of tools, 24/7 support, low fees, and high level of security, it is an excellent choice for anyone looking to buy and sell digital currencies in India. With a minimum investment of just Rs. 100, it’s accessible to almost everyone. With a user rating of 4.9, Binance is an excellent option for anyone looking to invest in the crypto market.
#5. Kucoin
Kucoin is one of the top cryptocurrency exchanges in India and is quickly becoming a favorite among Indian traders and investors. Its wide range of features and the easy-to-use platform offers a safe and convenient way to purchase Bitcoin and other digital assets.
One of the critical features of Kucoin is its reputation as a safe and secure platform for purchasing Bitcoin. As one of the top Bitcoin exchanges, it offers users a quick and easy way to trade digital assets, making it an excellent choice for both novice and experienced traders. Additionally, creating a Kucoin account is quick and easy, allowing users to start trading immediately.
Kucoin is available in many countries, including India, South Korea, Japan, Spain, Italy, Vietnam, and Russia. Additionally, it doesn’t require any KYC requirements, which makes it a more attractive option for people who want to stay anonymous.
Kucoin offers many payment options, including PayPal, direct bank deposits, and credit/debit card payments. Users can make a minimum deposit of Rs 300, and it supports various fiat currencies such as BTC, ETH, USDT, ADA, XRP, and more.
Kucoin also offers a wide variety of digital assets for trading, with more than 690 different cryptocurrencies available. Additionally, it supports NFT (Non-Fungible Token) trading, a growing trend in cryptocurrency. Furthermore, it also supports dApps, margin trading, and DeFi, which allows users to explore new opportunities and make the most of their investments.
In terms of fees, Kucoin has meager trading fees of 0.1% and a fee of 0.025% to buy crypto. Low fees make it a cost-effective option for users who want to trade frequently.
Kucoin is an excellent choice for India’s reliable and feature-rich cryptocurrency exchange. With its safe and easy-to-use platform, a wide range of digital assets, and low transaction fees, it is a top choice for many Indian traders and investors. Additionally, the fact that it doesn’t require any KYC requirements makes it an attractive option for people who want to stay anonymous.
#6. CoinDCX
CoinDCX is a beginner-friendly Indian cryptocurrency exchange platform that provides a Blockchain Wallet. The platform has received a significant investment from Coinbase and is the largest Cryptocurrency Trading Platform in India. The trading platform offers education and resources for new traders and is dedicated to promoting Cryptocurrency Trading in India on a large scale.
With CoinDCX, users can quickly check the rate of Bitcoin or other renowned Cryptocurrencies anytime in INR. The trading platform offers services for different types of Crypto Assets or Cryptocurrencies and also has a cost-effective or affordable trading fee.
One of the most notable features of CoinDCX is its security measures. The platform requires users to authenticate themselves before they can engage in trading, and it also holds 95% of its user’s cryptocurrencies in cold storage. CoinDCX also provides a Two-factor Authentication feature and a Notification setting for every exchange, making it one of the safest platforms for trading in India.
CoinDCX offers support for over 100 cryptocurrencies and has a wide range of cryptocurrency-related goods and services, including staking, futures trading, lending options, and margin trading. It also accepts instant payment gateways from popular payment methods like UPI, IMPS, and Net Banking, making it easy for users to fund their accounts and make transactions quickly and conveniently.
The platform has a minimum investment requirement of Rs 100 and offers a trading fee of 0.2% for makers and takers. It offers over 340+ top Cryptocurrencies Available, which makes it an excellent choice for long-term investors who want to buy and hold cryptocurrencies.
Overall, CoinDCX is an excellent option for anyone looking for a beginner-friendly and reliable cryptocurrency exchange in India. With a 4.5 rating by expert reviews and its ability to accept instant payment gateways, it has become one of India’s most sought-after crypto exchange platforms. Its wide range of digital assets, user-friendly interface, and enhanced security features make it a top choice for many Indian traders and investors.
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