There are many digital currency exchanges that allow the users to trade in cryptos at ease. Among them a few have gained over millions of customers trading on the platform, showcasing the popularity that digital currency has gained in India. To cater to that popularity there has been an increase in the Indian based digital currency exchanges in India. Here will discuss some top rated Indian cryptocurrency exchanges that have gained quite a good amount of popularity here in India.
Top 5 Indian Cryptocurrency Exchanges Of 2021
On the massive bull run in the late 2020 and beginning of 2021, the digital currency has developed as one of the most rapidly growing digital assets. It provides varied means for people to earn a handsome amount online through trading that is backed up by blockchain.
Presently traders and investors who are willing to purchase or sell various cryptocurrencies that are available in the market can simply avail varied crypto exchanges that are being carried out by Indian crypto startups. These Indian cryptocurrency exchanges convert the fiat currency into the digital currency of your choice and vice-versa.
From Ethereum, Bitcoin, and TRON to the latest Shibu Inu or Dogecoin, there are many digital currencies to choose from. Along with these, the Indian Government has released a statement asserting that India will soon release their own digital currency that will also be backed up by the government. This was said by the Finance Minister of India. But as of now, no official circular has been released. The Indian cryptocurrency name has not yet been declared.
Without any further delay let us have a look at the best cryptocurrency exchanges in India 2021.
WazirX was founded in 2017, by Nischal Shetty (CEO), Siddharth Menon (COO), and Sameer Mhatre. It is a rapidly growing Indian digital currency exchange with over 1 million users.
This startup that is based in Mumbai allows individuals to create digital assets by purchasing, selling and investing in cryptocurrencies like Litecoin, Bitcoin, Ethereum, etc.
This was also the first platform to release an auto-matching P2P (peer-to-peer) engine that will help traders to convert INR to digital currency and vice versa. Along with that, the Smart Token Fund of WazirX allows crypto investors to find expert traders and let them take care of their digital currency portfolio.
Presently it is a part of the Binance group which is the largest digital currency exchange all over the globe and offers its services to users in 180 countries.
CoinDCX is created with security and user experience in mind, CoinDCX offers instant fiat to crypto conversions with no extra fees so that the users can get access to a diverse suite of financial services and products that are backed by top security processes and insurance protection in the industry. This is among the best cryptocurrency exchanges in India with low fees.
It is the only startup in the Indian crypto space that has got three rounds of funding in less than a year. In total, it has successfully raised $19 million.
In 2020-21 the company tripled its headcount from 30 to 100. Now it focuses on increasing its workforce by a double by the end of 2021. It also proceeded to launch its house product, Insta, that enables the purchase and sale of fiat-crypto.
CoinSwitch Kuber was started in 2017 by Ashish Singhal, Govind Soni (CTO), and Vimal Sagar (COO) as a global aggregator of digital currency exchanges, the startup provides more than 300 coins and 45,000 pairs of currency. Last June, it released its India-exclusive INR-crypto on-ramp platform – CoinSwitch Kuber.
According to the startup, it has received 350% growth in its users base since January 2021. The platform presently has more than 4.5 million users in India and has recorded transactions worth $5 billion in March 2021, 10 months since it was launched. It has plans of onboarding 10 million users by the end of 2021.
Unocoin was founded in July 2013 by Sathvik Vishwanath, Abhinand Kaseti, Harish BV, and Sunny Ray. It was India’s first entrant in the Bitcoin arena. This startup allows customers to purchase, sell, and also transact in Ethereum and Bitcoin. This platform caters to over 13 lakh users among whom at least 3 lakhs are verified by KYC. According to Unocoin, every year its turnover runs into hundreds of crores.
ZebPay, an Indian cryptocurrency exchange was launched in 2014. It is a Singapore-headquartered startup that has had a grey journey in a mainly cash-driven India. Local regulatory hurdles, management changes, and a few product iterations later, Zebpay relaunched in 2020, before the Supreme Court’s verdict on RBI’s two-year ban on digital currencies.
This startup was founded by Saurabh Agrawal, Sandeep Goenka, Mahin Gupta, and ZebPay functions in 162 countries, and has completed $3 billion worth of transactions for more than 3.5 million users which are nearly 95% of them from India.
There are many digital currency exchanges that have been launched in the country which allows the selling, purchasing, and also trading of various digital currencies. Crypto exchanges provide ease in trading by providing functionality through user-friendly websites or applications. So we have discussed the top Indian cryptocurrency exchanges. Later with the advent of Indian cryptocurrency coins, these exchanges may start to accept them as well.
Frequently Asked Questions On Indian Cryptocurrency Exchanges
1. How many Cryptocurrency exchanges are there in India?
India is home to more than 350 blockchain and crypto startups, many of which have received money from popular global exchanges. WazirX which is the best cryptocurrency exchange in India 2020 for example, is owned by crypto giant Binance.
2. Can we exchange Cryptocurrency in India?
WazirX is a startup that is based in Mumbai and allows individuals to create digital assets by purchasing, selling, and investing in cryptocurrencies like Litecoin, Bitcoin, Ethereum, etc.
3. Which is the safest crypto exchange in India?
The safest India cryptocurrency exchanges include WazirX, CoinDCX, ZebPay, Unocoin, and CoinSwitch Kuber.
4. What is the safest crypto exchange?
CoinDCX is created with security and user experience in mind, CoinDCX offers instant fiat to crypto conversions with no extra fees so that the users can get access to a diverse suite of financial services and products that are backed by top security processes and insurance protection in the industry.
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