Cryptocurrency seems to be on everyone’s lips these days. This could be attributed to the sudden surge in the price of digital assets and a flurry of ads featuring your Bollywood superstar telling you crypto is the future.
But, how do you get into it and start investing in cryptocurrencies to book some quick profit? The answer is cryptocurrency exchange apps. These apps play a crucial role in evaluating the whole crypto ecosystem. They can be used to check the prices of various cryptocurrencies out there, buy and sell the altcoins, and manage your account. Before we get to the list of best online cryptocurrency exchange apps you can try out in India (along with their features and fees), here is what cryptocurrency exchange apps do.
What is the purpose of a Cryptocurrency Exchange app in India?
A cryptocurrency wallet is an app that allows users to store and access their digital assets. You do not need a wallet to use your money, like the old-fashioned currency, but it helps to keep everything in one place. The user can store cryptocurrency, such as bitcoins, in a cryptocurrency wallet and use it to perform tasks from there.
For those unfamiliar with it, cryptocurrency exchange apps offer instant access to a wide variety of cryptos on the market and allow you to trade (buy and sell) on the go. To buy or sell cryptos, you do not need a portable computer. These applications, on the other hand, make it easier for you to trade in cryptos and gain access to decentralized digital currency networks.
The entire sign-up process has been clarified for anyone, and the mobile app layout is designed for quick learning. You may get crypto exchange apps for Android and iOS phones from the Google Play Store and Apple App Store, respectively.
Top 5 Cryptocurrency Exchange app in India
1. WazirX
Wazirx Info:
Founded: 2018
Headquarter: Mumbai, Maharashtra, India
Founder: Nischal Shetty
WazirX is one of the most popular and cost-effective crypto exchange apps. In this crypto exchange app, you can invest using Indian rupees, US dollar, BTC, and even P2P. Also, WazirX has its own coin called WRX that can be purchased using Indian rupees. Then you can use WRX to invest in other cryptos. One of the popular features of WazirX is that you can earn coins through various contests that are available on the info section of the app. Users can secure their accounts using a 2FA or App passcode that can be enabled from the phone’s setting.
Trade Charges:
WazirX applies a charging fee of 0.2 percent applicable on the taker and maker. You can deposit any amount over Rs.100 in the WazirX wallet through NEFT, RTGS, IMPS, and UPI. The first three come with a transaction fee of Rs.5.9, while UPI transactions go through without any fees.
2. Unocoin
Unocoin Info:
Founded: 2013
Headquarters: Bengaluru, Karnataka, India
Founders: Sathvik Vishwanath, Sunny Ray, Abhinand Kaseti, Harish B V
Unocoin is a leading crypto asset and blockchain, serving millions of customers. This cryptocurrency app democratizes Bitcoins for Indians. Therefore, if you buy and sell crypto assets in INR, you will definitely gain.
Features that contribute to this popularity are low transaction fees, a live price tracker, a consolidated wallet for all crypto holdings, etc. Further, you can even automate your Bitcoin buying by setting your frequency and amount. Get some free Bitcoins when you refer your friends. Go refer now!
Through Unocoin, you can do mobile and DTH recharges with Bitcoins as well as subscribe for cryptocurrencies.
Trade Charge:
The users are charged a fee of 0.7 percent on buying and selling their assets. This price is pertinent for minimum usage of 60 days. Post that, the user would be charged 0.5 percent and would be given a Gold membership.
3. CoinDCX
CoinDCX Info:
Founded: 2018
Headquarters: Mumbai, Maharashtra, India
Founder: Sumit Gupta and Neeraj Khandelwal
CoinDCX is perceived as the most adaptable exchanging application for crypto resources in the country. It allows you to purchase or sell in up to 200+ exchange coins. Add to that, the entire arrangement measure has been improved on utilizing a one-time secret word (OTP) on your enrolled portable number and email ID.
In the event that you go to the Settings tab on the application, you can gain proficiency with a great deal about putting resources into digital forms of money and how they work in the virtual world. CoinDCX charges a creator and a taker expense of 0.1 percent, with a base withdrawal limit set at Rs 1,000 with no charges charged on it.
Read: How to buy cryptocurrency; A Guide for New Crypto Investors
This digital money trade application just backings INR to allow you to exchange cryptos. You can store cash into the record utilizing NEFT, IMPS, RTGS, UPI, or even a basic bank move.
CoinDCX has an extensive set of security measures in place and that’s a good thing. First up, users need to verify themselves using the Google authenticate app. Because without this, you cannot start trading on the app. You also need to set up a withdrawal password that needs to be confirmed for every withdrawal you make.
Trade Charges:
CoinDCX charges a maker and a taker fee of 0.1 percent, with a minimum withdrawal limit set to Rs 1,000 however no fees is charged on it. This cryptocurrency exchange app only supports Indian rupees to enable you to trade in cryptos. You can credit money into the account using NEFT, IMPS, RTGS, UPI, or even a simple bank transfer.
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4. Zebpay
Headquarter: Singapore
Founder: Sandeep Goenka, Mahin Gupta, Saurabh Agrawal
Another cryptocurrency exchange app that you might be familiar with is Zebpay. It’s one of the oldest crypto trading apps in the market. It lets you signup and full KYC details through your mobile number to start trading. The platform caters to the refer-and-earn feature. So if you manage to sell the idea of crypto trading via Zebpay to others, and they sign up you get 50 percent of the trading fees made through your links for one year. The minimum deposit amount using UPI is Rs 100, and for other forms of payments is Rs 1,000.
Trade Charges:
Zebpay allows a minimum deposit amount using UPI to be Rs 100, and another sort of payment is R. 1,000. It charges 0.0001 BTC per month as a membership fee. However, you can avoid the fees by actively investing in them. If your trading happens on the same day, you would be charged a trading fee of just 0.10 percent. Zebpay offers free deposits of all cryptos. But if you deposit using UPI, there is a fee of Rs 15, while 1.77 percent is charged on net banking. The platform also charges a fee of Rs 10 for all withdrawals and for Bitcoins it is 0.0006 BTC.
5. CoinSwitch Kuber
CoinSwitch Kuber info
Founded: 2017
Headquarter: Bengaluru
Founder: Ashish Singhal
CoinSwitchKuber app is known for its simplicity and stability with regard to crypto trading in India. Users can access aggregated liquidity of India’s main cryptocurrency exchanges to get the best deal. You can trade instantaneously once you finish setting up your account with the app.
A clear interface offered by this app is what people love about it. It ensures a smooth user experience, helping to gain more trust among Indian users. It is meant for both beginners and advanced traders.
Trade Charges:
CoinSwitch Kuber has provided users with a clean UI and UX interface in comparison to some of its competitors. The application is a great place for beginners who are not quite knowledgeable about the crypto market. CoinSwitch Kuber charges nothing for depositing and withdrawing money to their application, however, they do have hidden charges. Whenever you purchase a cryptocurrency on CoinSwitch, the company deducts 1-2 percent from the cost of the purchase.
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