Just after WazirX was launched, the Indian Central bank imposed a virtual ban on crypto coins in the country. The RBI circular made crypto exchanges fall in a risky position and some of the players had to shut their shops.
To navigate the RBI-imposed hurdle, WazirX developed a peer-to-peer system after two days of ban. This helped the exchange in eliminating financial institutions need and linked sellers with the buyers directly. This skyrocketed crypto trading and since then, WazirX never looked back.
In India, the crypto exchanges are not regulated or controlled by the government or any central authority. Though, this does not mean that you need not pay taxes if you invest in crypto. Unlike other income taxed in India, the profits earned due to crypto investments are subject to capital gain tax which falls under Income Tax Act.
Many start-ups such as CoinSwitch Kuber have entered into the crypto space and made the crypto platform simpler for both buyers and sellers. If you want to invest in cryptocurrency or buy a Bitcoin, find one of the crypto exchanges in India. After selecting, all you need to do is complete the KYC and after your profile gets approved, start investing infinitely in cryptocurrencies of your choice. Below we have mentioned the top 5 crypto exchanges in India from where you can select and start trading immediately.
This Binance owned Indian crypto exchange in India is headquartered in Mumbai. WazirX is regarded as one of the biggest crypto exchanges in India. The native cryptocurrency utility token used by WazirX is WRX. Just like Binance, this platform offers users with P2P trading facility which automatically matches users to trade amongst each other. The online platform provided by WazirX is intuitively user-friendly besides you can sign up with the platform very easily. All you need to do is fill in the necessary details, complete a KYC, verify your data and start trading.
Binance is one of the popular international crypto exchanges in India which makes it a good option for Indian investor. With Binance, you can trade over 350 altcoins that include native Binance coins. Other than this, you can earn money variously with Binance through earning and staking interest on crypto holdings. This crypto exchange in India not just offers users with peer-to-peer trade options but also allows them to participate in margin trading and execute various advanced trading techniques such as futures contracts.
While Coinbase is an international crypto-exchange based in the US, Coinbase India is a subsidiary of Coinbase that has an exchange in India. Backed by Coinbase, Coinbase India is praised highly due to its pleasant and simpler user interface. At present, Coinbase is the second largest crypto exchanges in India based on trade volume. You will find that Coinbase keeps updating its features more frequently due to the rapid increase in its customers base worldwide. Fortunately, Coinbase has not yet faced any kind of data breach which makes it a good option for us since we do not have to worry about our assets kept in the exchange wallet.
This is yet another popular global crypto exchange that has established itself in India as well. The platform offers users an interactive and user-friendly platform besides advanced features that are required to deal with complex trades. Since Bitstamp is one of the oldest cryptocurrency platforms, it has provided users with huge benefits to date for examples, 98% of offline storage space, round-the-clock support for customers and enhanced data encryption. This exchange in India homes various institutional investors that look for ways to invest in Bitcoins and other digital assets from their income.
Although Bitfinex exchange is based in Hong Kong, it has established a crypto trading platform in India also. The platform provides users with tools that make their trading experience pleasant. You may find many tailored features along with suitable options for different crypto traders to execute advanced algorithm-based trading, fund account on margin and customise trading charts that fit into the trader’s strategy. With all such professional account setting, you will surely want to trade in Bitfinex crypto exchange for gaining crypto trading opportunities in India.