Ever since the Supreme Court of India overturned the Reserve Bank of India’s blanket ban on cryptocurrencies, the country has seen a surge in new investment in the crypto business. Since then, cryptocurrency-based enterprises have exploded in popularity.
Currently, the industry’s core foundation is exchanges or trading platforms. Several new cryptocurrency exchanges have opened in recent years to serve India’s rapidly expanding crypto sector. Nonetheless, it is critical to always choose the best. In this guide, we’ll examine the top three exchanges, available to Indian residents looking to gain exposure to cryptocurrencies.
WazirX is a Binance-owned Indian cryptocurrency exchange headquartered in Mumbai. It is one of the major cryptocurrency exchanges in the nation. WazirX utilizes its own cryptocurrency utility token (WRX). As with Binance, they offer a peer-to-peer trading engine that automatically pairs users to trade. Their exchange features an easy user interface that works across desktop and mobile platforms, as well as quick signup and verification process.
The exchange offers easy INR deposits via banks using payment channels like UPI or NEFT. The exchange also has its dedicated NFT marketplace for digital collectors. The platform has dedicated mobile applications for both Android and ios which are easy to use.
Additionally, it enables investors who are not experienced in trading to invest in the Smart Token Fund (STF). To put it simply, it is a method of connecting Investors with experienced Traders. Essentially, assisting investors in growing their portfolios in the most straightforward, secure, and transparent manner possible.
You can create your WazirX account here.
Bitbns was launched on December 14, 2017, by Bitbns’ parent company, Buyhatke Internet Pvt. Ltd. The exchange offers a plethora of investment options from Spot trading to Margin trading. This exchange accepts wire transfers as a method of deposit. However, credit card deposits are not permitted. Withdrawals are also quick and easy and money gets directly credited to your registered bank account.
The platform also offers Margin lending which enables you to lend your funds on the exchange. Visit the margin trading section to learn more about this service. It is without a doubt one of the most foolproof strategies of profit generation. This profit is generated by lending Bitcoin and other cryptocurrency funds at a predetermined interest rate for a specified time period.
Bitbns has also developed Bitdroplet, a secure and convenient platform. This platform enables investors to make systematic purchases of Bitcoin and other cryptocurrencies. A Systematic Purchase Plan (SPP) is identical to a standard Systematic Investment Plan (SIP) in the stock market. However, SSP was created specifically for the purpose of investing in cryptocurrencies. It can be seen as a SIP but for cryptocurrencies.
You can easily create your Bitbns account here.
Giottus is an Indian cryptocurrency exchange that began operations in April 2018. They claim on their website to have “one of the lowest trading fees in India” and “high liquidity” While their rates are competitive compared to other Indian exchanges, we cannot concur that their liquidity is superior to those of the aforementioned exchanges.
The platform offers everything that will help meet all the basic needs of investors looking to enter crypto. The platform is easy to use and all their cold wallets are secured by 100% insurance against cyber thefts. The exchange has partnered with global custodial service provider Bitgo, to ensure insurance protection to your investments.
INR deposits are simple and easy with the option to deposit via Multiple Bank Accounts and deposits are processed instantly. A peer-to-Peer option is also available for deposits and withdrawals for investors to easily cash out.
You can easily create your Giottus account here.
It must be noted that cryptocurrency investments come with various risks. The market is still volatile and while it offers massive returns, users can also incur losses if not careful. We advice you to do thorough research before making any investments.
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