Cryptocurrency exchanges are online trading platforms that let you buy and sell crypto coins. They act as intermediaries between buyers and sellers, working just like any other trading platform. In a few simple steps, crypto exchanges allow users to deposit money via netbanking, direct bank transfer, or P2P, and trade in crypto assets as needed. Each month, Forbes Advisor puts together a list of crypto exchanges to help users find a platform that suits their needs. Here’s a look at the top cryptocurrency exchanges in India for the month of June, as per Forbes.
For its selectionForbes Advisor took under consideration certain parameters for its listed exchanges, including the likes of trading volumes, liquidity, trading experience, crypto-related products, customer support services, and number of registered users on each platform. Forbes Advisor also took into consideration several other factors, ranging from fee structures to level of security for each platform.
Best cryptocurrency exchanges in India for the month of June
WazirX
Forbes Advisor rating: 4.5 (out of 5)
Minimum investment required: Rs 100
Cryptocurrencies available: Over 450
Maker fees: 0.2 percent
Taker fees: 0.2 percent
With over 60 lakh registered users, WazirX is one of the fastest-growing crypto exchange in India. As per Forbes, WazirX offers a user-friendly interface across Web and mobile apps.
CoinDCX
Forbes Advisor rating: 4.5
Minimum investment required: Rs 100
Cryptocurrencies available: Over 340
Maker fees: 0.2 percent
Taker fees: 0.2 percent
With over 1.3 crore registered users, CoinDCX is considered to be one of the most trusted crypto exchanges in the country. The platform also provides several crypto services such as margin trading, futures, and lending options.
CoinSwitch Kuber
Forbes Advisor rating: 4
Minimum investment required: Rs 100
Cryptocurrencies available: Over 80
Maker fees: 0.1 percent
Taker fees: 0.1 percent
Boasting over 1.5 crore registered users, CoinSwitch Kuber offers a range of trading pairs such as INR to crypto exchange, crypto to crypto, and crypto to INR trading.
Binance India
Forbes Advisor rating: 4
Minimum investment required: Rs 100
Cryptocurrencies available: 600
Maker fees: 0.1 percent
Taker fees: 0.1 percent
Binance has over 9 crore registered users and helps ensure a high level of security for users’ funds. In 2019, Binance acquired WazirX, allowing WazirX wallet users trade through Binance easily and safely.
Unocoin
Forbes Advisor rating: 3.5
Minimum investment required: Rs 1,000
Cryptocurrencies available: Over 80
Maker fees: None
Taker fees: 0.3 percent
One of the oldest exchanges for trading in and storing Bitcoin, Unocoin charges a fee of 0.5 percent to buy or sell Bitcoin. Unocoin has over 20 lakh registered users.
Bitbns
Forbes Advisor rating: 3.5
Minimum investment required: Rs 100
Cryptocurrencies available: Over 390
Maker fees: 0.25 percent
Taker fees: 0.25 percent
Bitbns has over 40 lakh registered users. It is particularly suitable for novice traders, as Bitbns offers an advanced training system to users.
BuyUCoin
Forbes Advisor rating: 3.5
Minimum investment required: Rs 20
Cryptocurrencies available: Over 130
Maker fees: 0.24 percent
Taker fees: 0.24 percent
With over 10 lakh registered users, BuyUCoin lets users get into crypto trading with a mere investment of Rs 20. The platform also doesn’t charge any know your customer (KYC) or any deposit fee.
Zebpay
Forbes Advisor rating: 3
Minimum investment required: Rs 100
Cryptocurrencies available: Over 100
Maker fees: 0.15 percent
Taker fees: 0.25 percent
Zebpay allows investors to earn interest on idle crypto assets. It has nearly 50 lakh registered users. Nearly 98 percent of Zebpay’s coin storage is in cold wallets, making it a secure platform to explore.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.