Top 5 Crypto Exchanges in India in 2024 - Hindustan Times
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Top 5 Crypto Exchanges in India in 2024

Published on Mar 27, 2024 09:27 PM IST

Here is a list of the best cryptocurrency trading apps in India to help you make an informed decision as you kickstart your crypto journey

CoinSwitch
CoinSwitch
ByHT Brand Studio

Crypto exchanges in India are in the limelight after the recent crypto bull run. We all understand stock exchanges. But what are crypto exchanges? They are apps and web platforms that help investors buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Solana. Crypto exchanges also provide an array of trading and investing tools to their users.

Which are the best crypto exchanges in India? Well, there is no single answer. Every crypto exchange is different and comes with unique features to fulfill the varying needs of investors. Still, here is a list of the best cryptocurrency trading apps in India to help you make an informed decision as you kickstart your crypto journey.

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Top 5 Crypto Exchanges in India

Here are the top 5 cryptocurrency exchanges in India as of March 2024:

1. CoinSwitch

Launch year: 2017

Total users: 20+ million

Total number of coins available: 100+ coins

CoinSwitch is one of the safest homegrown crypto exchanges in India. It is a platform best suited for those who are new to crypto trading, as it offers a user-friendly interface and seamless in-app integration. It supports multiple modes of payment, including UPI, bank transfer, net banking, and debit and credit cards.

CoinSwitch PRO is a platform within the CoinSwitch app specifically designed to address the needs of professional traders. It comes with multiple new features, including advanced charts and analytical tools by TradingView, limit orders, access to multiple exchanges, and a unified portfolio to manage all crypto investments across exchanges. CoinSwitch PRO is a rupee-powered, secure crypto trading platform. CoinSwitch PRO is also available on the app. Download the app here.

2. WazirX

Launch year: 2018

Total users: 15+ million

Total number of coins available: 300+ coins

WazirX stands out for its peer-to-peer (P2P) trading feature, which allows users to buy and sell cryptos directly with a third party or intermediary. The crypto trading app provides seamless onboarding with swift KYC processes, ensuring full compliance with regulations. With a minimum investment of Rs. 100, WazirX is one of the few crypto exchanges with its crypto token called WRX that can be used like any other crypto.

3. CoinDCX

Launch year: 2018

Total users: 14+ million

Total number of coins available: 500+ coins

CoinDCX is one of the cryptocurrency trading apps in India. It also provides advanced charting tools that allow experienced traders to conduct in-depth technical analysis and execute complex trading strategies with ease.

4. Zebpay

Launch year: 2014

Total users: 5.5+ Million

Total number of coins available: 150+ coins

Zebpay is one of the oldest and most popular crypto exchanges in India. ZebPay is recognized for its strength in intraday trading which offers traders the ability to capitalize on short-term price movements within the cryptocurrency market. The platform stands out for its crypto lending services, which allow users to lend their digital assets to earn interest, thus providing an opportunity to generate passive income.

5. Mudrex

Launch year: 2018

Total users: 1+ million

Total number of coins available: 350+ coins

Mudrex is a cryptocurrency trading platform that has theme-based crypto baskets. These baskets are curated collections of cryptocurrencies that revolve around specific themes or investment strategies. Mudrex allows users to invest in these baskets, which are managed by experienced traders and algorithms, providing a diversified approach to crypto investing.

Factors to consider while choosing a cryptocurrency trading app

Here are some of the important factors to consider while choosing a cryptocurrency trading app.

  • Safety and security: The crypto industry is notorious for hacks and exploits due to some bad actors, but these can be avoided with some precautionary measures. While looking for a crypto exchange, ensure that safety and security are the top priority of the exchange.
  • Compliance: Despite the lack of proper regulations in the country, there are certain compliance requirements to run a crypto exchange, like registration with the Financial Intelligence Unit (FIU) as required by the Prevention of Money Laundering Act (PMLA) regulations in India. Ensure that the crypto exchange is compliant with all regulations for seamless crypto trading and also to keep your funds safe.
  • Offers diversification: Don’t put all your eggs in one basket; goes the golden rule of investing. In crypto speak, it means not to put all your funds in one cryptocurrency. Picking a cryptocurrency exchange in India that offers several digital coins will help you diversify your crypto portfolio.
  • Reputation: A quick Google search on the crypto exchange you are interested in will provide you with enough information that can help you assess the exchange’s reputation. A project is only as good as its reputation, so check factors like inception date, physical office location, online presence, founders, etc to help you make a sound decision.
  • Technology: This might sound a bit complicated for novice crypto enthusiasts. However, seasoned traders can research the technology on which the crypto platform is built. This will also throw light on the level of transparency that an exchange is sharing with its users. Transparency, by the way, is one of the basic tenets on which blockchain technology is built.

Conclusion

Whether you are a newbie crypto enthusiast or a seasoned crypto trader, determining the right crypto exchange is not easy. This article will help you select the right crypto exchange for you. Remember that there is no absolute right or wrong here, as each crypto trader has unique goals and needs. So, make a list of your financial goals and start your crypto journey with the exchange that caters to those needs.

This Article is Compiled By Wonder Web World.

Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein.

The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.

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