A ready guide for selecting the top crypto exchange in India

The surge in Bitcoin prices and the bull run in the crypto market are the new conversation starters in a crypto-loving country like India with its legions of primarily young crypto investors. The enthusiasm among crypto investors peaked in early March when the country’s leading crypto app, CoinSwitch, announced that it surpassed over 2 crore registered users, the first Indian crypto exchange to accomplish the feat.

Still, the concept of crypto exchanges and their role in the broader crypto sphere might not be familiar to some of the wannabe crypto investors in the country. Here are some of the leading crypto exchanges, how they work, and, most importantly, how you pick one from among the top exchanges. Though there are about nine Indian crypto exchanges by one count, here are five: CoinSwitch, WazirX, UnoCoin, Giottus, and ZebPay.

What is a crypto exchange?

A crypto exchange is a platform that facilitates the buying, selling, and trading of cryptos. These exchanges serve as intermediaries that connect buyers and sellers in the crypto market.

Types of crypto cxchanges

Crypto exchanges can be classified into three main types

Centralised Exchanges (CEX): A type of exchange where a central authority manages all transactions.

Decentralised Exchanges (DEX): A DEX is based on blockchain technology and does not rely on centralised control.

Hybrid Exchanges: These platforms combine features of both centralised and decentralised exchanges, offering users flexibility and choice in trading.

Top crypto exchanges in India

The growing popularity of crypto assets in India prompted several startups to launch in the country, beginning in the 2010s. While some were established abroad, some are entirely home-grown.

CoinSwitch

Since its inception in 2017, CoinSwitch has been a trendsetter in the Indian crypto market. Offering a diverse range of coins for trading, CoinSwitch is the go-to platform for newbies to start crypto trading. The platform’s easy-to-use interface, impeccable security, and compliance with regulations make it a popular choice among crypto users. CoinSwitch also houses CoinSwitch PRO, a platform within the app specifically designed to address the needs of professional traders.

CoinSwitch PRO has several new features, including advanced charts and analytical tools provided by TradingView, the ability to place limit orders, access to multiple exchanges, and a unified portfolio for managing all crypto investments across exchanges. It is a secure, rupee-powered crypto trading platform.

WazirX

WazirX is another leading Indian crypto exchange. The platform is renowned for its peer-to-peer (P2P) trading feature, which enables users to buy and sell cryptos directly without a third party or intermediary. The platform also has its native crypto called WRX, not to mention 300+ other cryptos offered for crypto investors.

UnoCoin

UnoCoin, launched in 2013, has a user base of more than 2 million. The exchange has been in the Indian crypto market for over a decade. The platform has implemented robust security measures to protect user funds and personal information. UnoCoin stands out for its simplicity, security, and accessibility.

Giottus

Popularly recognised as India's only multi-lingual crypto app, Giottus facilitates the buying and selling of cryptos in 20+ Indian languages through their mobile app. The platform has been operating in India since 2017 and has been at the forefront of compliance and regulatory activities. Chennai-based Giottus is known for its crypto-staking services, impeccable customer support, and fast KYC process.

ZebPay

ZebPay, established in 2014, is one of India's oldest crypto exchanges. It offers a simple and intuitive platform for buying, selling, and storing cryptos. It supports over 150+ selections of popular cryptos and caters to over 5 million users in many countries across the globe.

Conclusion

By now, you should have a clear understanding of crypto exchanges and the best crypto trading platforms in India. While choosing a crypto exchange, consider its security features, the number of cryptos offered, and other factors such as liquidity, exchange policy, and other relevant details.

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