What is a cryptocurrency?
In addition to gold, cryptocurrency is growing in popularity with younger generations because of its high returns and benefits. To purchase cryptocurrency in India the investor first must create an online storage solution for the cryptocurrency (like Bitcoin), through an intermediary in addition to finding an exchange for crypto. For the exchange, the buyer will need to establish an account with one of the services. The account has to be linked to the investor’s banking account. Making purchases of crypto using an exchange is among the most secure and simple methods. However, knowing all security procedures carefully is crucial to make sure you invest in your portfolio. Here are the best cryptocurrency exchanges, listed below which you can choose from
- Unocoin :- Unocoin is a very popular cryptocurrency exchange in India due to its status as one of its oldest exchanges for cryptocurrency. It was the first to enter into the Bitcoin market in India that was founded in Tumkur, Karnataka, and later moved its operation to Bengaluru. The company was founded in 2013 in a period when cryptocurrency was not a popular option to invest in, and only those with high-risk needs could be able to opt to take advantage of it. The exchange is home to 1.47 million registered users. Through Unocoin you can choose an exact date and time to sell a specific amount of cryptocurrency. Unocoin is an over-the-counter (OTC) trading to allow users to trade massive quantities. The exchange has also launched a mobile app to be more user-friendly.
- CoinDCX CoinDCX can be considered as one of the top crypto exchanges in India, in terms of its registered users, above 4 million, who can access more than 200 cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and many other altcoins legally. CoinDCX was an early-stage company and was established in the year 2018 and then grew gradually. The number of investors who showed an interest in CoinDCX due to the fact that the fee for trading is extremely affordable when compared with other exchanges. Furthermore, investors receive the withdrawals and deposits services at no cost. This is an excellent alternative for investors from India and for those who want to exchange directly from the INR and any cryptocurrency. It was awarded an award of the ‘Elite List of Unicorns in India 2021 in the name of Tracxn.
- Zebpay :- Zebpay offers a user-friendly and simple crypto exchange. It also has a security feature that allows you to block transactions that are not destined for the country with just a click. Zebpay also offers discounts to investors who are new. If one signs up, he or receives an offer of the amount of Rs. 100 cash back on the initial trade worth 500 rupees or more. 500 and above. These offers usually attract new investors who are more likely to move to the market. According to Zebpay, the majority of Indians have purchased their first Bitcoin which is among the most popular cryptocurrency, on Zebpay. The exchange has been in operations since 2014, and they’ve processed over the amount of 10 billion dollars in transactions during the span of that time.
- WazirX :- WazirX is an unorthodox platform since they’ve created their own cryptocurrency called WRX. The exchange states that it will create a total of 1 billion WRX tokens ever made. Investors can purchase WRX against INR and it is exchanged for other cryptocurrencies that are available. WazirX is available on all platforms, including Web, Android, and iOS mobile devices, Windows and Mac applications. Security is a major essential for crypto worldwide. In this case, the KYC procedure will be completed within a couple of hours after signing up in a safe manner, and while using the proper KYC protocol. Investors can make peer-to-peer (P2P) transactions with WazirX and pay no costs. WazirX P2P is a service that allows investors to make transactions with no WazirX P2P service that enables investors to convert funds into cryptocurrency instantly. WazirX serves as an escrow to ensure security on the exchange.