Let’s today discuss Best Bitcoin exchanges in India in 2020.
After India’s Supreme Court verdict revoking the ban of cryptocurrency imposed by the RBI, cryptocurrency exchanges are now able to directly take deposits and process withdrawal without any hassle from debit/credit card and bank account.
Prior to the verdict most exchanges either halted their operations in India or used the P2P system for deposit and withdrawal. These few exchanges never left the Indian crypto community hanging in between and helpless.
Considering their trustworthiness, commitment and performance towards the community. Here is the list of best Bitcoin exchanges to buy/sell bitcoin and other cryptocurrencies in India.
Best Bitcoin Exchanges in India:
This following list is largely, to highlight those Bitcoin exchanges who accepted and processed INR deposit as well as withdrawal at a time when the community felt neglected and helpless after the RBI ban.
Recently acquired by Binance in 2019 and launched in March of 2018, WazirX is one of the biggest (according to volume) and the largest (due to the number of cryptocurrencies traded) exchange in India.
You can purchase Bitcoin and other cryptocurrencies through direct deposit after verifying your bank account and through crypto to crypto purchases.
Zero charges for INR deposit and 10 INR withdrawal charge for withdrawal within 5 minutes. For fees and pairs being traded on this exchange, you can refer here.
KYC is mandatory in order to deposit, withdraw and trade cryptos.
Operating from Mumbai, CoinDCX is another safest and trusted Bitcoin exchange in India, known mostly for its future and margin trading. It provides its user’s freedom to buy, sell and trade cryptocurrencies in 100-plus available pairs.
CoinDCX platform is available on the web as well as on mobile. The trading fee at this platform is 0.20% only. The withdrawal fee for Bitcoin is 0.0005 Satoshi.
Purchases can be made using crypto pairs or by depositing INR. Zero fees applicable for INR deposit, withdrawal charges may vary. For crypto to crypto transactions, you do not need KYC.
Up to INR 5000 can be deposited and withdrawn without any KYC. I have used its platform and I am quite happy with it. Support is very prompt and helpful.
Operating from Chennai and started in early 2018 by two IIM alumni Vikram Subburaj, CEO and Arjun Vijay COO. It is another safest and trusted Bitcoin exchange in India.
What makes it different from other exchanges in this list is its reward program. Wherein if they are not able to process credit or debit transactions within 5 minutes they will credit your account with 10 XRP.
Another good thing about this exchange is KYC approval. They are known to process it within 5 minutes. The charges for buyers are 0.25% f and for sellers is 0.15% as a service fee.
I have been using this exchange from 2018 till today and have never ever felt any issue. They have awesome support and you can also reach them over a phone call.
Started, in the year 2017 by a group of IIT graduates. Bitbins has come a long way to become one of the best Bitcoin exchanges in India. They provide. They do have P2P service on their platform and one of kind service known as Bitdroplets.
Bitdroplets is a unique service where any investor can invest in Bitcoin using Systematic Purchase Plan. The minimum amount to invest in Bitcoin using this feature is only $1. Bitdroplets service is only available for Bitcoin.
You have to go through KYC for using this exchange as it is mandatory.
I personally have recommended my friends and family members to use this feature as it is easy, convenient and does not create a vacuum in your monthly budget.
Started in 2016, it is one of the oldest cryptocurrency exchanges in the list of best bitcoin exchanges. It is undoubtedly one of the market leaders in exchanges in India.
It is the first cryptocurrency exchange in India that started multi-cryptocurrency trading on its platform. As compared to other cryptocurrency exchanges it is one of the cheapest exchanges for trading.
It offers its users a taker trading fee of 0.84% and a maker trading fee of 0.42%. The industry average trading fees for takers are 0.25% and for makers, it is slightly less.
The withdrawal fee for Bitcoin is more as compared to the other listed Bitcoin exchanges in this list. It is 0.002 BTC, which is 150% above the industry average.
The above five as per my experience are the best Bitcoin trading platforms in India. Bitcoin rates provided on these Bitcoin exchanges are realtime and in par with the global price.
All of them have their presence on Telegram and are active 24/7. Half of the time issue does get resolved on telegram, incase if it does not then you can always raise a support ticket.
Till to date, I have never experienced any major issues in their service. They all have brilliant support, who are very helpful and are able to resolve all issues within 24 hours.
You can not only buy/sell Bitcoin on these cryptocurrency exchanges but also trade other cryptocurrencies. I personally recommend opening up an account on all of them.
In case if you do not find your altcoin traded on any one of them you can try the other. In general, all of them have listed all the major altcoins on their exchange.
If you introduce your family members or friends to these 5 exchange then do use their referral program. All the above exchanges have a very rewarding referral program.
In the End:
I would never recommend anyone to hold their assets on a cryptocurrency exchange, it is always recommended to hold them on a cold wallet. In case if you are not familiar with a cold storage wallet.
It is a wallet that is not connected to the internet or is connected occasionally. The desktop and hardware wallet are the best examples of cold storage wallets.
Always do your own research before investing in cryptocurrencies.
Thanks for reading the article about the 5 trusted Bitcoin exchanges in India. I hope you enjoyed reading it as much as I enjoyed writing it for you.
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