To begin trading in crypto every crypto enthusiast needs an authentic and best crypto exchange platform. When starting trade for the first time few things may seem complicated and that is why we have selected the best crypto exchange for beginners so you can start your first trade with ease.
What is crypto Exchange?
The crypto exchange is a platform where you can buy, sell, stake coins, and collect NFTs. A platform where you can invest in crypto coins and NFTs.
There is no other way to buy or sell your coins and you should always buy crypto coins from the best crypto exchange service platform so you don’t fall prey to some kind of scam and end up losing your money. So here are the top 5 best crypto exchange platforms.
Best Crypto Exchange in India
So before we start listing down the best crypto exchange in India let’s first understand what are the regulatory policy regarding crypto. India doesn’t have any regulatory authority over crypto and doesn’t promote transactions with crypto like it is being promoted in countries like Dubai.
The amount of trading on the best crypto exchanges in India such as WazirX, CoinDCX, and others has expanded dramatically in India. By introducing the Cryptocurrencies Bill in 2021, the government took a step towards regulating cryptocurrencies.
The law intends to create a supportive environment for the creation of the Reserve Bank of India’s (RBI) official digital currency. It also prohibits the usage of any other private cryptocurrencies in order to further the cryptocurrency’s underlying technology. In the Union Budget of 2022, the government took the initiative to levy a 30% tax and 1% TDS on revenues from virtual digital assets or cryptocurrencies. So here are the best crypto exchanges in India
1. WazirX
WazirX is the most popular and best crypto exchange in India. It is quite popular in India with over 6 million active users and first ever Indian exchange. Although the platform is also available in several other countries you can use this platform without any country restriction unless crypto trading is banned.
Features
- Buy and sell coins instantly via UPI.
- Superfast KYC.
- Highest referral rewards.
- Trading Chart.
- User-friendly interface.
- Educational material.
- Several supported currencies.
Pros
- Highly secure platform.
- India’s first trading app.
- User-friendly for beginners.
- Graphs to monitor price fluctuations.
Cons
- No price alert.
- During highly volatile app crashes.
- High trading fees.
- Huge trading commission during withdrawal.
Availability
Ratings
2. CoinDCX
With CoinDCX best crypto exchange for beginners. With it, you can buy and sell more than 200+ crypto coins. CryptoDCX is not just a trading platform but you can also learn about trading through their videos and blogs which would be quite convenient for beginners.
I would say for those who are starting to trade and want more in-depth knowledge about trading it’s the best crypto trading for beginners and with an easy-to-understand interface it won’t be a hassle for you. This platform is easy to go and easy to understand platform without any technical terms used in it.
Features
- You can start investing with low as $1 or ₹100.
- Crypto SIPs.
- Crypto learning platform.
- Fund insured by BitGo.
- Track your crypto portfolio.
- Daily news feed.
Pros
- Free deposit and withdrawal fees.
- Funds insured by BitGo.
- Secure and user-friendly platform.
Cons
- Tedious process for opening an account.
- Certain reports of getting crashed.
- Only supports INR.
- Late response from the support team.
- Some price difference between the market price and the value of the coin sold.
Availability
Ratings
3. CoinSwitch
Offering low exchange charges on all Bitcoin exchanges, CoinSwitch is the most appropriate for starters and the best crypto exchange in India. The users can exchange more than 100 cryptographic forms of money for as low as INR 100 utilizing the most straightforward UI. This stage gives exchanging sets of INR to crypto and along these lines upholds INR crypto exchanging. It has likewise sent off the crypto rupee file, the benchmark record for estimating the presentation of the Indian rupee-based crypto market.
Additionally, it provides a wide range of educational and training materials on cryptocurrencies, non-fungible tokens (NFT), and blockchain. These materials are also available on our app in the “LEARN” section.
Features
- INR transactions only.
- SIP in Bitcoin.
- Strong safety measures.
- Easy KYC.
- Quick response.
Pros
- No transaction limit.
- Ability to compare exchange rates.
- User-friendly AI and the best crypto exchange for beginners.
Cons
- Not available in some countries.
- INR as fiat currency.
- App crashes when there is high fluctuation in the market.
Availability
Ratings
4. Pionex
Pionex has built-in free trading bots that will help you to trade without any prior knowledge. It is Asia’s fastest-growing trading platform and becoming the best crypto exchange provider. Pionex trading is reliant on the use of crypto bots, which help in the seamless operation of the cryptocurrency exchange. Crypto trading bots are programs and algorithms that automate cryptocurrency trading.
Market data is processed and analyzed according to a set of criteria to discover the best opportunities and execute positions. Trading bots eliminate the need for round-the-clock monitoring, which may be necessary over lengthy periods which makes it the best crypto exchange for beginners.
Features
- 16 free trading bots.
- 0.5% trading fees.
- Regulated by the FinCEN (United States Financial Crimes Enforcement Network)
Pros
- 16 trading bots.
- Low trading fees.
- Security.
Cons
- Can’t rely on bots.
- Fewer features.
- Some users have lost money due to bots.
- Reported issue of getting frozen during live trade.
Availability
Ratings
5. Bitbns
Bitbns isn’t the best and extensive but it’s a great crypto exchange app for people who want less transaction fees. The UI is quite simple and the best crypto exchange in India in terms of just the simple UI.
Nothing extensive about this application and has some issues while trading but it’s for those who don’t want to spare the fees and other applicable charges and want to get the maximum amount one can get.
Features
- Best crypto exchange in India in terms of UI.
- Regulated by RBI (Reserve Bank of India)
- E-wallet.
- Alerts.
Pros
- Low trading fees.
- Secure.
- No extra charges.
Cons
- Not many features.
- Not available in all countries.
- Slow customer support.
- Slow transaction.
- Few bugs while live trading.
Availability
Ratings
Frequently Asked Questions (FAQs)
What is crypto exchange?
The crypto exchange is a platform where you can buy, sell, stake, and collect NFTs. It won’t be possible to trade coins without a crypto exchange platform.
Is crypto exchange trustable?
Yes, mostly the well-reputed and authentic platforms are reliable but do not try the unknown platforms where they claim we don’t charge any fees. They are probably con apps and you would fall prey to scams and end up losing your money.
Which is the best crypto exchange platform?
There is no such thing as the best crypto exchange platform because every platform has something unique to offer it may depend on users’ needs and we have mentioned some of the best crypto exchange platforms for beginners above.
Greetings, I’m Akriti Gupta, a recent graduate from Delhi University. My pursuit in life revolves around an insatiable curiosity to explore and acquire new knowledge, fostering personal growth while nurturing a sense of compassion and goodness within me. Among my passions, painting, calligraphy, doodling, and singing stand as the cornerstones of my creative expression. These hobbies not only serve as outlets for my imagination but also as mediums through which I continually learn and evolve.
