While there was a regulation forced by the Reserve Bank of India that made Bitcoin and other cryptocurrencies illegal in this country, things have changed in April 2024, when the government canceled this ban and allowed people to trade with cryptocurrencies again.
Since many experts in the economy are saying that there is a great chance because of the pandemic, investing in cryptocurrencies might be a great chance to protect your assets. When it comes to investing in the crypto market, one of the most important factors is to choose a reliable online exchange.
The main features of a good cryptocurrency exchange are security, fast transactions, a wide selection of tokens available, and the ability to convert them into fiat currencies. We can see a rise in the number of exchanges in the world. However, not all of them can provide the same quality of service.
You can visit bmmagazine.co.uk to read more about the biggest online exchanges with blockchain support. Moreover, we selected some of the best of them that are available in India.
Table of Contents
1. CoinDcx
Source: entrepreneur.com
The main advantage of choosing CoinDcx is that this online platform offers you a wide selection of cryptocurrencies like no other exchange. There are over 200 popular tokens available, which is an excellent feature for those investors who are interested in trading with a variety of digital assets. Also, it represents a simple platform with an excellent interface that is especially beneficial for people with less experience in trading. Another important benefit is that you can buy Bitcoin with Indian rupees. Moreover, the great advantage is there are only minor fees of 0.1%.
2. WazirX
While CoinDcx offers the greatest diversity, WazirX is the safest and most reliable platform in India. Furthermore, it is great for people who are interested to trade while using different devices since you can use it on web platforms, iOS, and Android. When it comes to design, it has decent transparency that provides both amateurs and experts with a great experience. However, the main reason why you should choose WazirX is the high-security measures it offers to users. Another great feature is incredibly fast transactions.
3. CoinSwitch
Source: cryptonewsguy.com
This company is trying to educate its visitors more about the process of investing in cryptocurrencies and the real possibilities that this type of trading represents. Therefore, online platforms have a simple interface where you can choose to buy or sell over 400 types of coins. It was active in India even before the ban. Also, it has a collaboration with some of the best crypto organizations and exchanges in the world, such as Coinomi, Binance, Guarda, OKEx, and more. There is also a chart where you can read more about current trends, predictions of experts, instructions related to investing, and more. You can buy Bitcoin and other cryptos with INR, and there is available customer support all the time.
4. ZebPay
This online crypto exchange was one of the most popular in India before the ban and had millions of satisfied users. After the government allowed people to start trading with digital assets in this country, ZebPay continued to attract more people with its clean design, simplicity, and fast transfers. One of the main benefits is that you can select up to five different pairs of cryptocurrencies to trade and convert them without any fees required. Moreover, it has high security as well, with the most recent updates of API protocols that assure the security of sensitive data you are sharing over this website.
5. Unocoin
Source: coindesk.com
This platform is one of the first that made Bitcoin available in India. Therefore, it is not a surprise that Unocoin is one of the most popular and trusted services for trading and investing in cryptocurrencies. The unique feature that made it so popular and more beneficial when compared to many other exchanges is the ability to create values and limitations where you can connect your bank account to the service and buy tokens at the best possible price. You can set a limit of funds that you can afford to invest in the crypto market and save a lot of time needed for choosing and buying various virtual assets.
6. CEX
Besides converting and buying tokens, CEX also offers the ability for cloud mining, which is especially beneficial if you are interested in cheaper tokens with great potential. There are near 1 million satisfied users of this service. Moreover, while even a beginner can simply learn to use this platform, there are many functions for experienced investors available as well. You can easily buy tokens with your credit card while converting into fiat currencies is available for Euro, Dollar, British Pound, and Ruble.
7. Coinmania
The Coinmania cryptocurrency exchange is popular in the whole world with support in near 200 countries along with India. There are over 2 million users. It offers stability, fast transfers, and conversions, and has great safety measures. Also, it supports many fiat currencies as well, along with the possibility to buy coins with your credit or debit card, SWIFT, Western Union, and many other payment services.
8. Local Bitcoins
The main advantage of using this service is that it supports the most fiat currencies along with the Indian rupee. Also, this platform offers users to create promotions for finding buyers much easier which is especially beneficial for day traders. Moreover, there is a wide selection of payment options like Cash, iDeal, Crypto, Flexepin, Credit card, SEPA, PayPal, WU, Perfect Money, and more.
Last Words
Besides these popular options, there are also many other exchanges. However, you should learn more about all of the potential risks when choosing a less-known service. While blockchain offers much higher security of transactions, there are still chances for cyber-attacks. In that matter, you should check the online reviews and experience of other clients before choosing the most reliable option. Besides security, you should analyze features like the cost of fees, speed of transactions, selection of available tokens, conversion into fiat currencies, and more.