Cryptocurrency Exchange in India
Bitcoin has risen as one of the most rapidly expanding digital currencies in late 2020 and early 2021. It provides several methods for those who want to make good money, as it is secured by cryptocurrency and allows for trade. The Indian cryptocurrency sector has been revitalized in the last year by a subsequent RBI (Reserve Bank of India) clarification indicating that its 2018 bulletin banks are prohibited from trading in “financial products” is illegal and cannot be used once the Supreme Court overturned it in 2020.
Traders and investors who are looking to purchase and sell electronic currencies on the marketplace may now easily use the many crypto exchanges established by Indian crypto companies. The exchange services transform public sector cash (INR) into digital currency for a nominal fee and vice-versa when you sell.
There are several bitcoins available that can select such as TRON, Bitcoin, Ethereum, Binance, and Shiba Inu, or the new Doge. Unfortunately, Bitcoin and several other cryptocurrencies are in a bull market as values decline in the face of Bitcoin production shutdown in China and probable governmental attention. Here are several Indian businesses and decentralized platforms where you can buy or sell digital assets such as Bitcoin, MATIC, Ethereum, and Dogecoin, among others.
1. WazirX
WazirX is a rapid cryptocurrency exchange, which includes over 1 million customers, founded in 2017 by Siddharth Menon (COO), Nischal Shetty (CEO), and Sameer Mhatre.
The Mumbai-based business assists users in building innovative wealth by purchasing, trading, or dealing in cryptocurrency transactions, including Ripple, Bitcoin, Ethereum, Litecoin, and others.
The site was also the first to introduce a similar P2P (Peer-to-Peer) mechanism to assist merchants in converting Indian Rupees (INR) to cryptocurrency and vice-versa. Furthermore, WazirX’s Smart Credential Fund connects digital traders with experienced traders and allows them to control their bitcoin account.
WazirX is now a member of the Binance Organization, the country’s leading digital currency exchange with customers in 180 nations.
2. CoinDCX
CoinDCX was designed with the consumer experience and safety in view. It offers quick cash to digital exchanges without any charges that allow consumers to access a broad array of financial items & services supported by manufacturing security requirements. CoinDCX was launched in 2018 by Neeraj Khandelwal and Sumit Gupta (CEO) to be the worldwide portal of cryptocurrencies.
CoinDCX is India’s only blockchain company that has acquired three kinds of financing within a year. It has generated an overall $19 million.
The firm quadrupled its staff in 2020-21 from 30 to 100. Currently, it intends to quadruple the staff by the closing of 2021. It also launched the brand, Insta, which facilitates the fiat-cryptocurrency purchase and sell, and had a decade increase of more than 38% between 2018 and 2020.
3. CoinSwitch Kuber
Vimal Sagar (COO), Ashish Singhal, and Govind Soni (CTO) founded the business in 2017 as a worldwide organizer of bitcoin exchanges, offering approximately 300 currencies and 45,000 alternative investments. It introduced the India-only rupee-crypto on-ramp system CoinSwitch Kuber in June.
In January, the business boasts that its customer base has increased by 350%. The network presently has almost 4.5 million customers in India and has generated $5 billion in market capitalization in the ten months since its inception in March 2021. In the year it intends to add 10 million customers.
4. Unocoin
Unocoin was Today’s initial entrance into the Bitcoin market, established in July 2013 by Sathvik Vishwanath, Sunny Ray Harish BV, and Abhinand Kaseti.
Buyers may purchase, trade, and deal in Ethereum and Bitcoin through the Bengaluru-based firm.
In addition, the network secured an unknown sum as a portion of its continuing Phase A round from investors such as Tim Draper in October 2020. It has around 13 lakh members, at least 3 lakhs of them are KYC-verified clients. Unocoin says that their annual revenue is in the several of millions.
UnoCoin is one of India’s first bitcoin trading platforms. The marketplace, which debuted in 2013, now has over 1.2 million members. Customers may use INR to sell or purchase Bitcoin on the platform. Investors are also given a unique digital signature that automatically trades Cryptocurrency.
Some other notable aspect of the market is that it enables clients to Refill and Top Up accounts, as well as use Cryptocurrencies to refill mobile phones and TVs. It also offers a Commercial Portal mechanism, which enables online merchants to accept Cryptocurrency as a form of payment.
Even though these are some of the most prominent bitcoin tradings, one should examine for characteristics like privacy, transaction costs, and the broker’s trustworthiness before making any payments.
5. Zebpay
The Singapore-based business, which was founded in 2014, has had a rocky road in a predominantly cash-driven India. After several changed significantly, leadership changes, and strict environmental difficulties, Zebpay debuted in January 2020, before the Supreme Court’s judgment on the RBI’s two-year prohibition on digital currencies.
ZebPay, which was developed by Saurabh Agrawal, Sandeep Goenka, and Mahin Gupta, works in 162 nations and has handled $3 billion in transactions through over 3.5 million customers, approximately 95 percent of customers are from India.
The business has branches in Mumbai and Ahmedabad, and its staff has grown from 50 to 110 employees. From April 2020, the network promises to be sustainable. It is still concentrating on developing referral systems, bonuses, and AMEX-style membership programs for customers.
Zebpay provides lightning-fast transfers as well as additional security procedures, such as the ability to block all outbound activities via the ‘Block Sending Payments’ function.
The exchange supports six EUR-Crypto pairings as well as five Asymmetric encryption trades, including Litecoin, Bitcoin, Ether, Bitcoin Cash, Ripple, and EOS.
It offers a basic, simple, and customer-friendly appearance.
6. BuyUCoin
BuyUcoin, established in 2016 by Atulya Bhat, Shivam Thakral, and Devesh Aggrawal, enables customers to buy, exchange, swap, and store various digital products such as Ethereum, Bitcoin, and Ripple.
Five years after its inception, the architected business is now one of India’s biggest bitcoin exchanges, including over one million investors and buyers dealing in over 130 digital currency pairings like ETH-INR, BTC-INR, and DOGE-INR, among several others.
The income model of BuyUCoin consists of two outlets: percentage-based fees on purchases and profits on convenient and simple deals.