Buying and selling crypto currencies in India has been made possible in 2021 by many Indian crypto exchanges. There is no liquidity problem and one can buy and sell almost any crypto being in India from our Indian crypto exchanges.
Many things have changed since 2017. Koinex, one of the most active crypto exchanged called off their operations in 2018 after RBI's decision to not allow banks to buy or sell crypto currencies. Many new exchanges back then had to change their business model and they made their exchanges P2P, which means one could buy and sell among peer to peer without requiring to deposit in the bank account of the exchanges.
Exchanges like Zebpay had shut down their operations, and resumed back in late 2020.
Later in 2020, the Supreme court of India overturned the RBI circular and called it against the constitutional rights and advised banks to resume services for crypto exchanges.
From then, there was no looking back. Indian exchanges gained momentum and now has ore than billions of trading volume.
Today, in this article, we will list the best crypto exchanges that you can use to buy or sell any crypto in India.
Best Crypto Exchanges India 2021: Buy and Sell against INR
Binance is one of the best exchanges in the world, not just India to buy and sell cryptocurrencies. Earlier, it was not possible to buy directly from Binance. You had to initially buy BTC or ETH from Indian exchanges, shift it to Binance and buy other altcoins. But with the introduction of Binance P2P, you can now buy, sell and trade crypto directly on Binance without involving any other Indian crypto exchange. Get 10 percent off on trading fees when you sign up with our promo link mentioned below.
If you wish to trade in an Indian crypto exchange, and use bank as a medium of exchange funds, then WazirX is the best option for you. Note: Binance has acquired WazirX. The best thing about WazirX is the liquidity. You can trade any coin for any amount without worrying about the liquidity. Among all Indian exchanges, WazirX has the highest volume. Plus, I like Nischal a lot for the #Indiawantscrypto movement he started in Twitter. Only thing that I do not like is the waiting list. You need to wait for 7-10 days to get your KYC verified. So it is advised to sign up right now, so that no matter even if you wish to trade on a later date, better open an account today.
Note: Now-a-days, for some tickets, it takes a lot of time to get resolved. I hope WazirX fixes this soon.
Giottus is one of the Indian crypto exchanges where you can instantly get started. They verify your KYC in less than 5 minutes. It is one of the reputed exchanges in India for beginners. They also have an app for Andorid and iOS users. What I do not like about Giottus is lack of volume in INR pairs. However, you can trade with USDT pairs and there won't be any liquidity issue. Giottus derives their liquidity from Bitfinex exchange. If you are starting and want to buy and hold, or have small capital, I highly recommend you to get on Giottus today. The customer support is top notch. Also, for a very limited time, maker fees for btc/inr, usdt/inr and all usdt pairs are currently 0%.
BitBNS is one of the oldest Indian crypto exchange that is known for doing a lot of innovation around crypto. For example, they were one of the first Indian exchanges to start fixed deposit of crypto currencies. They were also one of the first Indian exchanges to introduce yield farming by launching a new coin called, BNS token. They also have started Bitdroplet where you can start your SIP in Bitcoin. They also have a descent volume and are very quick to introduce new coins in their exchange. Now, what I do not like about BitBNS is their customer support. I have seen a lot of posts on our group Bharatafinance where the users needed help and were waiting for a long time with their issues, but the customer support team kept on delaying. However, those cases which were posted on our group were mostly resolved by BITBNS team. I wish BITBNS increases hires more people to handle customer support. Apart from that, I do not see why you should not use BitBNS. Signup now and start trading on Bitbns.
CoinDCX was started by Sumit Gupta and within a very short period of time, the exchange earned the trust of Indian users and is now one of the best crypto exchanges to trade crypto in India. They are also super innovative and keep innovating the space. They derive their liquidity from Binance so you need not worry about volumes. I like COINDCX for a couple of reasons, one being lending and other one is margin trading. They have LENDING option for crypto investors who do not wish to trade on daily basis but wants to earn interest. You can lend various coins and earn interest. By Lending USDT on CoinDCX, you can earn 15 percent annual interest. Also, you can use CoinDCX for margin trading. So even in bear market, you can make money by shorting the coin.
I think these crypto exchanges are enough for people who wish to start crypto trading in India with INR.
International Crypto Exchanges to trade Altcoins in India
Let's talk about some international exchanges now. With international crypt exchange, you won't be able to buy and sell in INR. Here, you have to trade BTC and alts against other alts. As an Indian, you need to buy BTC or ETH or USDT from an Indian exchange and transfer the same to any of the exchanges mentioned below. Let's check them one by one:
Kucoin is an International crypto exchange which I prefer other than Binance. They are quick to list medium and small cap coins with potential value. Kucoin has a descent volume when compared for new coins. I like Kucoin's UI and the security. Kucoin also releases regular posts mentioning potential gems. So if you wish to buy some good new coins but do not want to pay a hefty UNISWAP fee, use Kucoin.
Huobi is another crypto trading platform headquartered in Seychelles. If you are looking for a Binance or Kucoin alternative, huobi is your exchange.
Okex is another popular crypto exchange among traders. Just like any other crypto currencies with good security and support. I am mentioning about these exchanges so that you can diversify your crypto among these exchanges.
Decentralised Crypto Exchanges 2021
Now, let's talk about decentralised crypto exchanges. Decentralised crypto exchanges are those exchanges where you need to sign up and verify your KYC. Using metamask, you can buy and sell coins without any KYC verification.
Uniswap is one of hottest decentralised crypto exchange that lets you buy and sell crypto from a pool. Here you do not need any buy and sell order book. You can buy and sell from a liquidity pool by connecting your wallet using metamask. You can learn more about how to trade on Uniswap by reading this article. You need to have ETH in your metamask wallet that will be used for transactions. Gas fees are much higher and for a Uniswap transactions, you mostly end up paying 50 USD in gas fee. Ouch, hurts, isnt?
Pancakeswap is another decentralised exchange like Uniswap, but for coins on Binance smart chain. Here the gas fee is quite low, infact very very low. You only pay around 0.5 USD for transacting on Pancakeswap. Cheap, isn't? I will be writing a detailed article on how to use Pancakeswap and trade.
Crypto Exchanges for Small Cap Coins
Some of us want to play with low marketcap coins. These coins are mostly listed on the below exchanges. These coins are risky. You may make a huge ROI, but sometimes, you may also end up losing your investment.
Bilaxy is one of the exchanges I use for trading low marketcap coins. You can buy coins that are new. Generally these coins have low volume, but have higher chances of giving a huge ROI. There is a wide spread between buy and sell. The exchange needs more volume. So trade coins that have highest volume in the exhange.
Gate is one of the reputed exchanges. It also lists new coins, but mostly the ones that are reputed. If you would like to take lesser risk, you can prefer Gate over Bilaxy.
Buy Crypto in India using Credit Card
Now that I have given you all the options, why leave the credit card out?
CEX makes it possible for you to buy crypto using your credit card. You earn credit card points as well 🙂 However, do check with your bank the transaction fees. It is one of the best crypto exchange for buying and selling crypto with your credit card. CEX is also good for staking. It gives an annual percentage of 20% for staking coins like ZIL.
Buy Crypto Exchange to buy US Stocks: Invest in Tesla, Coin, FANG and other Stocks
FTX has brought a revolution in the world of crypto. It connects US stock market with crypto. With FTX, you can invest in stocks like COINBASE, Tesla and other stocks from any part of the world, including India. FTX is also known for margin trading. A lot of traders prefer FTX for leverage trading over any other exchange. Also, it is one of the stable exchanges. In the past, we have seen exchanges like Binance freezing, or halting operations during market volatility. However, I have hardly seen FTX going down.
Best Crypto Exchange for Indians Living in the US
Many Indians lives in the US and when you surf Indian exchanges from the US, some Indian exchanges may not allow you to trade. For NRIs living in the US, you can use Coinbase to trade. Coinbase, the only crypto exchange that is listed on Nasdaq, is one of the best crypto exchanges in the world. You can buy bitcoin, ethereal and a bunch of altcoins on Coinbase. There are a couple of things more you can do with Coinbase. You can set up recurring buy so that on a specific date, it will automatically buy crypto assets for you. It is highly recommended for people who believes in crypto but cannot find time to invest on daily basis. Also, you can earn coins for free by learning more about the coin, with Coinbase.
I have explained almost about all crypto exchanges that any crypto trader in India will find it useful. If you have any more questions, please share with us under the comments section.