Crypto assets are attracting more and more traders to explore the possibilities of their rising market cap. As assets linked with real-world possibilities, they are major growth drivers in this industry. To start trading in cryptocurrencies, you must register yourself in a crypto exchange. To do so, researching the top cryptocurrency exchanges is mandatory.
To help you choose the right platform that aligns with your investment goals, here is a list of the top 10 crypto exchanges in India. Before delving into that, let’s take a look at what crypto trading is.
Refer to the table below to check the list of best cryptocurrency exchanges 2023:
|Crypto Exchanges||Minimum Investment|
CoinSwitch is one of the most popular cryptocurrency aggregators in India. However, unlike other traditional exchanges, CoinSwitch doesn’t run their own exchange. Instead, the platform connects multiple crypto exchanges in order to offer the best exchange rate to investors.
CoinDCX is considered India’s largest cryptocurrency exchange. The products offered are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration.
BuyUCoin is a popular crypto exchange among millennials because of its user-friendly interface. The exchange offers features like real-time spot trading, free wallet, cashback, and lifetime commission on referrals.
One of the fastest growing crypto exchanges in India, WazirX offers a wide range of coins at reasonable trading fees. The platform also runs a referral programme through which users can enjoy50% commission on every trade.
Giottus is one of the fastest growing crypto exchanges in India. The platform offers users a basket of facilities including investing via SIPs (Systematic InvestmentPlan) and a crypto basket of themed coins for users who want to stay invested for the long term.
UnoCoin is one of oldest crypto exchanges. The platform facilitates buying, selling and storing Bitcoin along with the other merchant processing activities. Users can get free bitcoins while signing up on the platform.
With more than 50 lakh registered users, ZebPay offers assured 4% returns for lending crypto. That’s why the platform is considered to be one of the best when it comes to earning interest on idle crypto holdings.
This crypto exchange is best known for educating crypto investors through various research reports and Bitbns academy. Currently, the platform has 400+ cryptocurrencies listed. The platform also runs several referral programmes for new and existing users.
Crypto exchange is a virtual platform where you can purchase, sell or trade with cryptocurrencies. Before crypto exchanges started, traders could get their hands on cryptocurrencies only via mining or organising transactions through an online forum. The top crypto exchanges today made investing in these assets quite easier for both seasoned and new investors.
Before investing in cryptocurrencies through these crypto exchanges, consider knowing about your risk appetite, and investment goals.
While going through the best crypto exchanges, you need to decide which exchange works the best for you, depending on various factors. These can include:
As the popularity of crypto grows, space has become more vulnerable to threats. Thus, you should choose a platform that features maximum security. You can also distribute your investments over various platforms to mitigate the overall risk.
Assess the number of cryptos available on a crypto exchange before making a decision. If you are a beginner, a platform featuring fewer coins might work well for you. On the other hand, crypto enthusiasts must look for an exchange that features considerable cryptocurrencies.
You must identify whether a platform has sufficient trading volume or not to determine liquidity. Note that if there is not much trading volume and you place an order, it will result in spillage. This will make you buy at a higher price and sell your assets at a lower price.
If you are a beginner in the crypto industry, you should consider a crypto exchange that comes with an easy-to-use interface. Additionally, consider signing up with a platform that features a robust customer support system.:
Typically, you have to pay two fees while trading via a crypto exchange. These include the trading fees and withdrawal fees. Some exchanges also charge a joining fee. You should choose an exchange that levies a minimum fee percentage so that you do not hurt your budget.
Recently, the rise in cryptocurrencies has given momentum to the emergence of top crypto exchanges. However, your search for the top crypto exchanges should include the above-mentioned factors.
A wallet is where you store your cryptocurrencies safely. Meanwhile, an exchange is a place where you undertake trading activities relating to cryptos. A wallet holds your private key, while when you utilise an exchange, you provide your private key to that platform.
To start your crypto trading journey, you simply need to choose a preferred crypto exchange first. Upon that, you need to sign up with that exchange and fund your account with sufficient balance to exchange cryptos.
Leverage means gaining exposure to the crypto market without paying the entire value upfront. Instead, you have to submit a nominal amount, called the margin. After closing your position, your profit or loss will depend upon the trade’s full size.
Cold wallets function without the internet. Thus, they store users’ private keys offline. This wallet features the highest levels of security. On the other hand, hot wallets operate online. They offer quick transactions. However, hot wallets have a risk of a security breach.
Different crypto exchanges ask for different requirements, depending on the cryptocurrency type you wish to buy. That said, you may be eligible to purchase a coin’s functional shares at a minimal amount. However, ensure to check the exchange’s fees before proceeding.
The three main types of crypto exchanges are as follows:
• Centralised Exchanges
• Hybrid Exchanges
• Decentralised Exchanges
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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