Living in India and want to invest in crypto but unsure which exchange is best for you?
Here we have detailed the top 5 most popular crypto exchanges of India. We have also discussed the advantages and disadvantages of each exchange keeping in mind the latency, speed, currency discrepancies, bonus perks for users and user support.
So lets get started.
*Please note: The order in which we have detailed the exchanges doesn’t mean that the best is on number one and fifth is the worst, each exchange has its pros and cons. It is upto you to decide the most suitable exchange*
1) WazirX
One of the most popular crypto exchange of India, WazirX, has over 6 million registered users. It is a part of Binance group, which is the world’s largest crypto exchange, serving users in 180 countries.
WazirX being an old player in the game has drastically improved their app over last few months while providing accurate rates and also has one of the best referral systems for the user.
Pros:
- WazirX provides a fast experience for users.
- The company has raised quite a lot of funding in recent months and is here to stay for a long time.
- Provides one tap order, even a 10 year old can figure out how to place an order.
- Has one of the best referral reward system for users.
- Have their own token WRX, which can also be mined in special events.
Cons:
- Sometimes the app is glitchy, needs improvement.
- For the referral system to work, you require that your friend signs up through desktop only (Which is a great loss for referrals since most of users will refer their friends up through WhatsApp/Instagram.
- Many users have reported discrepancies in the graphs.
- Many of the times the deposit methods are down and can be done mostly through USDT which is a hassle for a common user.
2) CoinSwitch/Kuber
- Can start trading with as small as 100rs, which is also their USP. (Unique Selling Point)
- Can withdraw anytime.
- User interface is friendlier than WazirX (In author’s opinion) .
- Gives you live updates on how much you have invested and how much you are in profit/loss.
- Deposit and withdraw is easy and simple.
- Many users have found discrepancies in coin prices. The rates are different than the rates on other exchanges.
- Charges/Transaction fees is pretty high.
- Referral system is pretty average for such a big platform.
- Many of the times the deposit methods are down and can be done mostly through USDT which is a hassle for a common user.
3) ZebPay
- You can lend your cryptocurrency in Zebpay and earn money while you don’t work.
- A good joining bonus on website of 100rs when you complete trades of over 500rs.
- A very user friendly UI.
- Trading fees is high.
- They claim instantly deposits shows up in your account but users seem to have experienced otherwise.
- Slower interface which can be problematic in rush hour.
- Trading fees is high.
4) CoinDCX
- Smooth UI experience.
- A large number of coins listed.
- Safe and secure.
- Can be trusted with your investments.
- Payment issues resurface a lot.
- Prices vary and most of the times only MobiKwik is available as payment option which charges you additional 1.18% transaction fees. So a big time loss for small case users.
- No special USP.
YOU CAN SIGN UP ON THIS EXCHANGE BY CLICKING HERE.
5) Krypto (Let’s Krypto)
- Fast onboarding process.
- 0% trading fees. (Major USP) (Unsure if it might change later)
- Variety of giftcards/scratch cards for users for accomplishing different tasks on the app.
- User friendly and simple UI.
- Relatively new in the market and has yet to be battle tested on peak/rush hours.
- Only 8 lakh users till now (publicly no data available as to how many are active), So your investments
- might be at risk if something goes wrong.
- Sometimes the app gets unresponsive and the app needs a lot of improvement.