14 best crypto exchanges in India

1. Kraken – Best global crypto exchange

Go to site Read review

Kraken Cryptocurrency Exchange

220+
Supported cryptos

6
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Kraken is one of the longest-running platforms in the industry. It's also a feature-rich exchange that puts a strong emphasis on education, which is why it won Finder's 2022 Crypto Trading Platform award for best global crypto exchange.

Kraken is popular with over 9 million users and has a daily trading volume of US$500 million, which makes it one of the world's largest exchanges. But for overall features and trading tools, Kraken really excels. It's clearly made for traders, but it doesn't leave novices behind.

Kraken has a broad range of staking options and advanced trading features. It prides itself on offering low spreads and providing deep liquidity across markets. This means that you don't need to worry as much about slippage.

While new traders may feel daunted by the exchange at first, the large variety of guides Kraken offers can help anyone learn about cryptocurrency and how to trade it. Meanwhile, more experienced traders will appreciate the platform's easy-to-navigate user interface (UI). They'll also be pleasantly surprised by how straightforward it is to trade and manage assets via the platform.

Pros

• 200+ supported coins
• Launched in 2013 &mdash
• one of the longest-running crypto exchanges
• Low fees for active traders
• Earn yield through staking
• High-quality educational guides and tools

Cons

• Doesn&rsquo
• t allow INR deposits
• Higher fees for credit card purchases
• No crypto debit card available for spending, unlike some alternatives

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Deposit fees	Fees vary
Withdrawal fees	Fees vary
Trading fees	Maker: 0.00-0.16% Taker: 0.10-0.26%

2. WazirX – Best Indian crypto exchange

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WazirX Cryptocurrency Exchange

280+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

WazirX is India's largest centralised cryptocurrency exchange, and it's a go-to platform for Indian users who want to trade cryptocurrencies with ease. With over 6 million registered users and a monthly trading volume above $5 billion, WazirX has become one of the most popular cryptocurrency exchanges in India.

We’ve picked WazirX as the best overall Indian crypto exchange thanks to its user-friendly interface and impressive auto-matching P2P machine with high liquidity. The exchange offers over 225 cryptocurrencies and accepts fiat deposits for different currencies. But do note that WazirX only accepts Indian rupees (INR) for bank transfers, and the rest of the supported fiat currencies are only available for P2P transactions.

A unique feature of WazirX is its Smart Token Funds (STF), which allows users to connect with expert traders who can help manage their assets. The exchange also offers means to earn passive yield, such as token mining, airdrops, and its referral program.

Overall, WazirX is the a solid choice for Indian users who want to trade cryptocurrencies with ease, convenience, and security.

Pros

• Supports 225+ cryptocurrencies
• Auto-matching P2P platform with high liquidity
• Rewards for referring users
• Presence of Smart Token Funds (STF) marketplace helps novice traders stay profitable

Cons

• Restrictions on fiat deposit and P2P trade volume
• Advanced financial products like futures not available

Deposit methods	Cryptocurrency, UPI, IMPS, NEFT, RTGS
Deposit fees	Fees vary
Withdrawal fees	Fees vary
Trading fees	Maker: 0.2% Taker: 0.2%

3. Binance – Best for low fees

Go to site Read review

Binance Cryptocurrency Exchange

360+
Supported cryptos

71
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Get 10% discount on your fees when signing up through Finder. T&Cs apply.

Binance is by far the world's biggest crypto exchange by trading volume, and it supports over 300+ cryptocurrencies and offers highly competitive fees.

When you use BNB — Binance's crypto token — to pay for trades on the platform, you reduce your trading fees by 25%.

Experienced traders will also enjoy the platform's suite of advanced trading options, including different order types, automated trades and charting options.

You can also earn crypto through services that Binance provides such as staking, leanding services and yield farming. Plus, Binance has its own NFT marketplace.

Pros

• Comparatively low trading fees and a discount for trading fees paid in BNB
• Wide range of supported cryptocurrencies
• Comprehensive earning features
• US$1 billion insurance fund

Cons

• Website can be overwhelming for beginners
• Poor customer service score on Trustpilot
• Ongoing regulatory issues in China, the UK, the US and Japan

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Deposit fees	None
Withdrawal fees	Fees vary
Trading fees	0-0.1%
Advanced Trading Features	Yes

4. CoinDCX – Best for high-volume traders

CoinDCX Exchange

210+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

CoinDCX is a leading cryptocurrency exchange that offers a range of advanced features and services to help users manage their crypto investments.

CoinDCX's Liquidity Services — an OTC exchange for trades over US$20,000 in size — is particularly beneficial for high volume traders, as it offers access to a deep pool of liquidity and tight spreads. With a dedicated account manager, high net worth individuals and institutions can enjoy customised solutions that cater to their specific needs.

In addition to its Liquidity Services, CoinDCX offers a range of other features and benefits, including margin trading, futures, lending options, staking, systematic investment plans and over 200 cryptocurrencies to choose from.

For beginners, CoinDCX also provides a variety of innovative educational materials through its DCX Learn feature.

Pros

• Access to 200+ cryptocurrencies
• Supports INR deposits and withdrawals
• Personalised services for high-volume traders
• Competitive trading fees
• Allows leveraging with futures and margin trading

Cons

• Reports of a tedious user verification process

Deposit methods	Bank transfer (ACH)
Deposit fees	None
Withdrawal fees	Fees vary
Trading fees	Maker: 0.08-0.5% Taker: 0.035-0.5%

5. Crypto.com – Best for NFTs

Read review

Crypto.com App

270+
Supported cryptos

31
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Crypto.com was our pick for the best NFT exchange because it makes buying, selling and minting NFTs simple.

The platform enables you to browse popular collections and upcoming drops and even read about the content creator and their inspiration behind the NFT artwork. You can also register as a creator and mint your own NFTs directly to the Crypto.com native blockchain, Cronos.

All NFTs on Crypto.com are verified. This means that scams and fake NFTs are a lot less common than on other platforms. Crypto.com features digital collections from large and reputable brands including Aston Martin and Paris Saint-Germain.

Depending on the listing type, you can submit a bid at auction or purchase NFTs at a fixed sale price. You can also sign up to receive email notifications any time there's an upcoming NFT drop.

Pros

• Verified artists and collections
• NFTs minted on the Crypto.com native blockchain
• Supports NFTs on four different blockchains
• Purchase NFTs with crypto or fiat
• Mobile and web browser compatible

Cons

• Doesn&rsquo
• t allow direct INR deposits
• Does not support all blockchains
• Less range than competitor NFT platforms
• Payouts must be requested and approved before you receive NFT sale proceeds to your Crypto.com wallet

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal
Deposit fees	None
Withdrawal fees	Cryptocurrency: Fees vary
Trading fees	Maker - 0-0.075% Taker - 0.05-0.075%

6. BuyUcoin – Best for Systematic Crypto Investment Plans (SCIPs)

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BuyUcoin Cryptocurrency Exchange

80+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

BuyUcoin is an excellent platform for individuals interested in building a diversified crypto portfolio by dollar-cost averaging into baskets of cryptos.

Its Systematic Crypto Investment Plans (SCIPs) enable investors to start with as little as INR 100 and invest in a basket of top-performing assets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Chainlink (LINK), and Polkadot (DOT) on a daily, weekly, monthly, or quarterly basis.

In addition to SCIPs, BuyUcoin offers several other features, including a spot market for single cryptocurrencies, crypto futures contracts and an OTC desk. Users can also enjoy lifetime referral commissions.

Pros

• Broad selection of SCIPs
• Supports 130+ cryptocurrencies
• Wide range of resources for beginners
• Advanced charting tools for more experienced traders
• Has its own NFT marketplace
• User-friendly app on iOS and Android

Cons

• No advanced options like margin trading
• Doesn't offer yield-bearing lending and staking services

Deposit methods	Bank transfer
Deposit fees	IMPS/UPI: None Payment Gateway 2% NEFT/RTGS: None
Withdrawal fees	INR: None Cryptocurrency: Fees vary
Trading fees	Maker: 0.24% Taker: 0.24%

7. KuCoin – Best for emerging altcoins

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KuCoin Cryptocurrency Exchange

740+
Supported cryptos

50
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.

KuCoin lists an impressive array of up-and-coming altcoins compared to other centralised crypto exchanges, which is why it's our emerging altcoins category winner.

Usually, to buy trending altcoins, you must purchase them through a decentralised exchange (DEX) like Uniswap or PancakeSwap, which requires learning how to use a Web3 wallet.

With KuCoin, all you have to do is create your account and voilá, you have access to over 700 digital assets.

Many of these assets are brand new, untested and much riskier than coins like BTC and ETH, so tread carefully.

Pros

• Provides access to 700+ digital assets
• Know Your Customer (KYC) process not required
• Offers staking
• Low trading fees
• Instant buy some coins with INR

Cons

• Numerous poor customer service reviews
• Many of the assets listed on KuCoin are highly volatile in price

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Deposit fees	None
Withdrawal fees	Cryptocurrency: Fees vary
Trading fees	Maker: 0.005-0.1% Taker: 0.02-0.1%
Advanced Trading Features	Yes

8. Bybit – Best for derivatives trading

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Bybit Cryptocurrency Exchange

★★★★★

Finder score

270+
Supported cryptos

73
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Bybit is a leading crypto derivatives exchange as per trading volume.

The Singapore-based exchange offers a wide range of advanced trading types, ranging from perpetual and futures contracts that use stablecoins like USDT and USDC as collateral to inverse perpetual and futures contracts that use the coin or token itself as collateral. As a result, Bybit is ideal for experienced crypto investors who understand leveraged trading and the risks involved.

In addition to derivatives trading, Bybit also supports instant buys as well as a spot market and provides a variety of crypto-earning products. Moreover, Bybit's platform is an all-in-one platform for minting, purchasing, and bidding on NFTs, making it an attractive option for traders intrigued by the NFT market.

Pros

• Many assets offered, including cryptos and NFTs
• Trade with up to 100x leverage
• Low trading fees
• Digital assets stored in multi-sig cold storage wallets

Cons

• Doesn&rsquo
• t allow INR deposits
• Leveraged trading is high risk, as losses can exceed deposits
• Limited spot trading pairs
• Derivatives trading is not advised for beginners

Deposit methods	Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Deposit fees	Fees vary
Withdrawal fees	Fees vary
Trading fees	Fees vary

9. ZebPay – Best for earning yield

Zebpay Cryptocurrency Exchange App

30+
Supported cryptos

3
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

ZebPay is a cryptocurrency exchange that makes it easy for you to buy, sell, and trade 150+ cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and more. With its user-friendly interface, competitive fees, and advanced security features, ZebPay is a popular choice for both new and experienced crypto investors.

Most notably, you can earn attractive interest rates of up to 1.5% per year on crypto assets, making it a great way to put their crypto to work and earn passive income. Plus, with a range of lock-in periods or low deposit amounts, you have the flexibility to manage your investments as they see fit.

Zebpay also offers competitive trading fees. Maker fees are 0.15% and taker fees are 0.25%.

It falls short in terms of advanced features to attract new customers. Additionally, traders looking for a broader selection of altcoins and sophisticated trading tools may need to seek out other options.

Pros

• Competitive trading fees of 0.25% and lower
• Up to 1.5% APY for crypto fixed deposits
• Multiple deposit and withdrawal options for Indian rupees
• 24/7 customer support

Cons

• Does not support margin trading or USD transactions
• Inactive accounts will incur a monthly wallet fee of 0.0001 BTC (or crypto equivalent)

Deposit methods	Bank transfer (ACH), UPI
Deposit fees	Fees vary
Withdrawal fees	Fees vary
Trading fees	Maker: 0.15% Taker: 0.25%

10. CoinSwitch – Best crypto app

Go to site

CoinSwitch

380+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

CoinSwitch is a top-rated crypto app that offers a simple and secure way to buy, sell, and trade cryptocurrencies. With its user-friendly interface and advanced security features, CoinSwitch is an ideal app for both beginners and experienced crypto investors to access hundreds of digital assets at the best prices with one easy-to-use terminal.

One of the most prominent features of CoinSwitch is its ability to compare and find the best rates for users, making it easy to get the best deal when buying or selling cryptocurrencies. With over 400 supported cryptocurrencies, users can quickly find the right coin for their needs and make transactions with just a few taps.

CoinSwitch also offers a range of other features and benefits, including 24/7 customer support, fast transactions and a seamless user experience. Plus, with advanced security features like two-factor authentication and SSL encryption, users can trust that their transactions are safe and secure.

Pros

• Supports over 400 cryptos
• 24/7 customer support
• Advanced security features

Cons

• Limited products and features
• Not suitable for advanced or expert traders
• Fees may fluctuate and be higher than expected

Deposit methods	Credit card
Deposit fees	None
Withdrawal fees	None
Trading fees	0 - 0.5%

11. Bitbns – Best for advanced features

Bitbns Cryptocurrency Exchange

70+
Supported cryptos

4
Fiat currencies

• Why we chose it
• Pros & cons
• Fees & deposits

Bitbns is a leading cryptocurrency exchange that offers a range of advanced features and order types. Established in 2017 by Buyhatke Internet Pvt. Ltd, Bitbns offers access to over 350 cryptocurrencies and stablecoins, making it a go-to platform for traders of all levels. With the ability to trade with as little as INR 100, Bitbns offers a low barrier to entry for those who’re just getting started.

The exchange offers price alerts, margin trading, limit orders, and investment calculators, giving traders an edge in the market. Moreover, the exchange has a comprehensive training system that helps beginners understand the ins and outs of cryptocurrency trading, making it an excellent platform to learn.

Bitbns has received positive reviews on both the App Store and Google Play store, with users praising its user-friendly interface, advanced features and quick customer support.

Pros

• Offers over 350 digital assets
• Intuitive and easy-to-use interface
• Mobile trading available
• Round-the-clock customer support

Cons

• Tiered fee structure may not be competitive for low-volume traders

Deposit methods	UPI, IMPS, NEFT, RTGS
Deposit fees	None
Withdrawal fees	Fees vary
Trading fees	0.03-0.25%

12. Unocoin – Best for beginners

Unocoin Cryptocurrency Exchange

10+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

Unocoin is a user-friendly cryptocurrency exchange that offers a simple and secure way for beginners to buy, sell, and trade over 100 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), Ripple (XRP) and Stellar (XLM). With its intuitive interface and step-by-step guides, Unocoin is the ideal exchange for those new to the world of crypto.

To help newbies learn more about cryptocurrencies and trading strategies, Unocoin offers a wide range of educational resources, including video tutorials, blogs, and webinars. Along with 24/7 customer support, users can get answers to their questions and resolve any issues quickly and efficiently.

Unocoin also offers a range of other features and benefits, including a robust trading engine, multiple order types, and advanced security measures like two-factor authentication and SSL encryption.

As for trading fees, Unocoin charges an industry average of 0.5%, but high-volume traders, market makers and sub-brokers are entitled to a competitive dynamic fee structure.

Pros

• Beginner-friendly app
• Wide range of advanced features, trading tools and resources
• Multiple payment options
• Systematic Buying Plan (SBP) enables you to make regular crypto purchases on a fixed schedule
• Supports INR deposits and withdrawals

Cons

• Lengthy KYC verification process
• Customer service is below average

Deposit methods	Bank transfer, PayU Money
Deposit fees	Net banking: 1.9% PayU Money: 1.9%
Withdrawal fees	INR: None
Trading fees	0.5-0.7% Maker: 0.4% Taker: 0.6%

13. Giottus – Best multilingual exchange for Indian users

Giottus

140+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

Giottus is a popular cryptocurrency exchange that provides a secure and convenient way for Indians to trade digital currencies. The platform supports more than 20 Indian languages, making it perfect for Indian users who are not comfortable with English.

Giottus offers its customers access to over 300 types of digital assets and the ability to purchase professionally-curated baskets of diversified assets.

The platform also provides other exciting features such as Systematic Investment Plans (SIP), fixed deposits, and crypto staking to cater to different investment goals.

Pros

• Low trading fees
• Multilingual platform (English and 20+ Indian languages)
• 24/7 instant customer service
• Rewarding referral program

Cons

• No support for credit or debit card payments

Deposit methods	N/A
Deposit fees	N/A
Withdrawal fees	N/A
Trading fees	Maker: 0.3-0.4% Taker: 0.3-0.4%

14. Krypto – Best for crypto payments

Krypto

20+
Supported cryptos

1
Fiat currency

• Why we chose it
• Pros & cons
• Fees & deposits

Krypto is a top-rated cryptocurrency trading aggregator in India that allows buying and selling over 100 cryptocurrencies with INR at the best rates. The platform enables users to compare prices and access the pooled liquidity of different exchanges, all with 0% trading fees.

Krypto stands out as the best platform for crypto payments, thanks to its integration with the Krypto Pay feature. This unique feature enables users to make payments to any vendor with a UPI address or credit/debit card machine, making it incredibly convenient to spend cryptocurrencies. Additionally, the 'Send Crypto' feature allows users to send any cryptocurrency to their peers for free, making it an excellent platform for peer-to-peer transactions.

The Krypto mobile app, available on the Google Play Store, provides users with the convenience of trading on-the-go, making it an excellent choice for users who want to stay connected to the crypto market at all times.

Pros

• Beginner-friendly
• Free and instant fiat deposits and withdrawals
• Convenient Krypto Pay feature
• Zero trading fees
• Fast KYC process

Cons

• Lacks advanced trading features such as limit orders and margin trading

Deposit methods	N/A
Deposit fees	N/A
Withdrawal fees	N/A
Trading fees	N/A

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Why you can trust Finder's crypto experts

How to choose the best crypto exchange in India

It's important to research a wide range of crypto platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for, so consider the following:

• User-friendliness and trading tools

  If you're a crypto novice, getting started buying and selling coins and tokens can be complicated and confusing. On the other hand, experienced traders may want a platform with special features such as advanced charting and order types, plus the option to trade on margin.

  If you're a beginner at crypto trading, look for a platform with a straightforward user interface that's easy to understand.

• Payment methods

  Can you deposit funds into your account via bank transfer, debit card and/or PayPal? The more payment options an exchange has, the more convenient it generally is to use. Make sure your exchange has deposit and withdrawal options that work for you. Remember to check the fees associated with different methods.

• Type of trading

  First, consider the type of trades you want to place. Some exchanges offer these trading options:

  • Fiat-to-crypto
  • Crypto-to-crypto
  • Both fiat-to-crypto and crypto-to-crypto

  For example, if you want to buy BTC with Indian rupees, you'll need to find a platform that allows you to buy coins via bank transfer or card. Alternatively, if you want to exchange your BTC or ETH holdings for another cryptocurrency, you'll want a platform that offers direct crypto-to-crypto trades.

• Cryptocurrency selection

  Consider which currencies you want to trade and which platforms list those currencies in one or more trading pairs:

  • Cryptocurrencies. There are thousands of different cryptocurrencies in existence, so don't expect to find them all listed on any single platform. Major cryptocurrencies such as BTC, ETH, XRP and others in the top 20 coins by market capitalisation are listed on an extensive range of exchanges. However, rarer altcoins may be much harder to find.
  • Fiat currencies. If you want to buy crypto with Indian rupees, check which currencies the platform accepts.

  You can find an overview of the crypto assets and fiat currencies that each exchange supports in the table. Read the full review for a more detailed analysis.

• Fees

  From depositing to trading and withdrawing funds, how much will it cost you to buy and sell crypto on each platform? Consider your payment method, the currencies you want to use and any discounts you may be entitled to when completing these calculations. For instance, fees for credit card purchases are usually higher than for a bank transfer.

  You can find detailed information on fees for each exchange by clicking on the "View details" text in the table.

• Limits

  Are there any limits on the amount you can deposit into your account or the amount of cryptocurrency you can buy or sell per transaction or per day? This question typically only applies to what some colloquially call "crypto whales" or people who make transactions ranging in value from hundreds of thousands to millions of Indian rupees.

  Most exchanges that require the Know Your Customer (KYC) process allow you to deposit and withdraw tens of thousands of Indian rupees per day. This is more than most average traders deposit and withdraw on a daily basis.

• App or desktop

  How can you access your trading account? Certain platforms only allow you to trade through a web browser, but some have mobile apps. If trading on the go is important to you, it's worth reading up on whether or not the exchange has a mobile app and how easy it is to use.

• Earning

  If you are looking to earn a yield on your cryptocurrency, you can do so through exchanges that offer earning options. Certain exchanges allow you to either lend or stake your cryptocurrency as a means to earn a yield on it.

  Lending involves loaning out your cryptocurrency to other users or businesses who pay you a fee for doing so. Staking involves locking up your assets to help them secure a blockchain network.

  Before using any exchange to generate yield, make sure you understand the risks involved, what type of earning the exchange offers and whether it's appropriate for your needs.

• Prices

  The price of a digital asset is determined by whatever people are willing to pay for it.

  Most brokers or instant buy services charge a fee as part of the service it provides. This means you will pay anywhere from a fraction of a percent to a few percent more than the going rate of the asset when you make the purchase.

  If you purchase your asset in the spot market, you can set the price that you want to pay and then wait for your order to be filled. For example, if you are willing to pay US$21,000 for 1 BTC, then you can set a limit order to buy BTC at that price in hopes that someone is willing to sell it to you at that price.

• Liquidity

  The level of liquidity on an exchange affects the ease and speed with which you can complete trades. If there's a high level of liquidity – in other words, if the exchange has a high trading volume – then trades should be completed quickly and easily.

  One of the biggest benefits of trading on larger crypto exchanges is they get enough orders to match buyers and sellers without any difficulty. However, low liquidity can lead to substantial price fluctuations.

  You can check websites such as CoinGecko or CoinMarketCap to get a better idea of an exchange's level of liquidity.

• Account verification process

  Most centralised crypto exchanges these days require you to complete a KYC or identity verification process.

  But some exchanges still let you deposit crypto and trade crypto-to-crypto without completing the KYC process.

  The said exchanges may not be properly regulated, so please proceed with caution if you choose to use these, especially if they are located offshore.

  Keep in mind that these exchanges may limit the amount of crypto you can withdraw from the exchange on a daily basis.

  For exchanges that require the KYC process, verification requirements vary. You will likely need to provide some or all of the following:

  • Your name
  • Your email address and phone number
  • Your address
  • Proof of ID
  • Proof of address
  • A photo of yourself holding a signed declaration

  If you need to provide a wide range of personal information, it's important to be sure you're dealing with a trusted exchange.

  It's also a good idea to research how long you can expect the verification process to take. For some exchanges, it can take up to 2–3 business days while others are near-instant.

  Finally, be aware that some exchanges require you to complete additional verification tasks to unlock full account features and permit higher transaction limits.

• Broker vs exchange

  What is the difference between a brokerage and an exchange? How long will it take for your transaction to be completed? Is one better than the other?

  Broker. Brokers buy and sell cryptocurrency to you. They typically charge a convenience fee for this, which may be hidden as a spread or markup on the going market rate.

  The advantage of using a broker is your transactions should be instant. When you purchase crypto using either the fiat you've deposited into your account or with a card, that crypto should be available to you right away.

  The same goes for when you decide to sell your crypto for fiat. You sell the broker your crypto in exchange for fiat and the fiat should instantly register in your account.

  Exchange. An exchange has a spot market, which is where users come to place buy and sell orders on the open market. Doing so allows you to set a specific price for an asset. For instance, if you think the price of Bitcoin will go down from US$23,000 to US$21,000, you can set an order for US$21,000 and wait for it to be filled. Likewise, you can set an order to sell your assets for a higher price than what is being offered.

  Exchanges may also offer brokerage services.

  Most exchanges allow you to withdraw crypto to your own wallet. This is sometimes not the case with brokers.

  Whether you use an exchange or broker will come down to your own needs and whether you plan to trade regularly or make a few one-off purchases now and then.

• Security features

  Security is a crucial factor to consider when choosing a crypto exchange.

  There have been more than a handful of cases in which exchanges have been hacked in crypto's history, so do your research on what security measures are in place to protect your funds.

  Questions you should ask include the following:

  • Is the exchange ld and regulated by the proper authorities?
  • Is 2-factor authentication (2FA) – a code sent to your phone each time you log in – supported?
  • What percentage of customer funds are stored offline or in cold storage? Cold storage refers to storing the private keys to digital assets somewhere offline to greatly reduce the ability for hackers to access the assets.
  • What level of verification is required to open an account?
  • Have you checked the exchange's trust score on CoinGecko or CER?

• Local regulation

  In India, cryptocurrency regulation is still evolving and there is currently no comprehensive legal framework for cryptocurrencies. The Reserve Bank of India (RBI) has issued multiple circulars in the past, restricting banks and financial institutions from providing services to entities dealing with cryptocurrencies. However, the Supreme Court of India lifted this ban in March 2020, allowing banks to provide services to cryptocurrency exchanges and traders.

  In the absence of a clear regulatory framework, cryptocurrency exchanges in India are currently self-regulating and complying with the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) guidelines set by the government. It is important for individuals and businesses dealing with cryptocurrencies to stay updated on the regulatory landscape in India and ensure compliance with relevant laws and guidelines.

• Customer support

  This is a crucial but often overlooked factor when comparing crypto exchanges. If you ever have a problem with an individual transaction or with your account, how will you access a platform's customer support team?

  You'll need to consider the following:

  • Is customer support available through email, phone and/or live chat?
  • Is support available 24/7 or only during specific hours?
  • How quickly does the support team respond to inquiries?
  • Is support offered in a language you are comfortable speaking?

• Reputation

  Does the exchange have a reputation as a secure and reliable platform? Finder has reviewed a number of crypto exchanges to craft a list of the best crypto exchanges in India.

  In efforts to assess the soundness and reliability of crypto exchanges, we look at whether or not exchanges are properly regulated, how they secure the private keys to the crypto they hold and the level of customer support they provide, among other factors.

  You can also read our dedicated review for each exchange or see what other users think of the platform using a third-party service like Trustpilot.

Using RBI-registered exchanges to buy cryptocurrency

There are plenty of places to buy crypto, including platforms founded here in India or based in locations all around the world. Exchanges headquartered locally are required to register with the RBI and comply with requirements that don't apply to global platforms. Depending on your goals, this may have some benefits or drawbacks.

Pros

• India-based exchanges must comply with the RBI's anti-money laundering (AML) and counter-terrorism financing (CTF) reporting obligations.
• You can usually buy crypto with INR.
• Exchanges in India typically support local payment methods.
• You may be able to access local customer support.
• Subject to local laws.

Cons

• You'll need to provide your personal details and proof of ID – a disadvantage if you want to trade anonymously.
• Overseas trading platforms may provide better liquidity.
• INR-to-crypto prices are sometimes slightly higher than USD-to-crypto prices, meaning you sometimes pay a premium for buying directly with Indian rupees.
• Some features are simply not available on RBI-registered exchanges. For example, margin trading, DeFi features and some altcoins.

Compare more crypto trading platforms and apps in India

Use the table to compare crypto exchanges and platforms on fees, range of cryptos, deposit methods and more. Once you've found the right fit, select Go to site to get started.

How to use a cryptocurrency exchange

For the sake of our example, let's assume that you have Nu.500 that you want to use to buy Bitcoin (BTC).

1. Compare cryptocurrency exchanges to find one that offers the right service for you.
2. Register for an account on the platform and provide any personal details and proof of ID required.
3. Navigate your way to the "Buy" screen.
4. Select BTC as the cryptocurrency you want to buy.
5. Select your payment currency, which in this case is INR, and specify the amount you want to spend as Nu.500.
6. Select your payment method, such as a debit card payment or bank transfer.
7. Enter your payment details, such as your account number if sending a bank transfer or your card number and CVV if paying by card.
8. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
9. If you're happy to proceed, click "Buy BTC".
10. Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address that you nominate.

How to pay for your cryptocurrency in India

Crypto exchanges in India support a range of deposit methods, including the following:

• Credit and debit cards
• Bank and wire transfers
• Cryptocurrency transfers
• Peer-to-peer (P2P) payments
• Neteller, Skrill and other online payment services
• UPI, IMPS, NEFT and RTGS transfers

Accepted payment methods vary between exchanges. Prior to signing up, it's worth checking that your preferred payment method is supported.

The different types of cryptocurrency exchanges

The term "exchange" may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users.

• Cryptocurrency brokers. Buy directly from cryptocurrency dealers for simple and quick purchases. A broker will facilitate an instant purchase of the digital asset of your choosing and will not offer spot trading.
• Cryptocurrency trading platforms (suited to beginner/intermediate users). Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional features like margin trading. Many exchanges now offer brokerage services to be more beginner-friendly.
• Cryptocurrency derivatives platforms (suited to advanced users and not available in some countries). These trading platforms don't sell cryptocurrency outright. Instead, they let certain users trade cryptocurrency derivatives in regions where this restricted-access feature is available. They're for advanced traders who want high speed, high leverage and deeply liquid platforms with a full range of features.

Risks of using a crypto exchange

• Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
• Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
• Lack of consumer protection. While crypto exchanges are increasingly regulated in India and may be registered with the RBI, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
• Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
• Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 INR available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and the RBI stipulations and typically increase as you provide additional KYC information.
• Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
• Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.

Is it safe to store your cryptocurrency on an exchange?

Securely store your crypto:

• Best crypto wallets
• Best hardware wallets

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet that lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired.

However, once you have purchased what you consider to be a sizeable amount of digital assets, you may want to consider transferring the private keys to those assets to a self-custodial wallet.

This is because the exchange controls the private key to your wallet, which means you don't have total control of your funds. And with exchanges sometimes falling victim to hackers, there is some degree of risk involved with leaving the private keys to your crypto in the hands of a centralised exchange.

Learn about wallets

2023 crypto exchange industry predictions report

We polled 56 specialists in the fintech industry to get their opinion on what the future looks like for centralised crypto exchanges and what the demise of FTX means for the crypto industry.

The vast majority of our panellists (83.93%) don't think the collapse of FTX was the beginning of the end for crypto, while 8.93% think it was and 7.14% are unsure.

However, because of the FTX collapse, more than half of our panellists (58.49%) believe that crypto exchanges should be regulated just as much as other financial trading platforms.

22.64% believe that crypto exchanges should be regulated, but less so than other financial trading platforms. 15.09% don't believe that crypto exchanges should be regulated to the same degree.

Over one-third of our panellists (35.19%) believe all crypto exchanges will be regulated as traditional financial institutions by 2030. A further 22.22% believe this will happen by 2025 and another 14.81% think it will happen by 2024.

In the future, the majority of our panellists (86.79%) feel that crypto exchanges should be required to disclose both their proof of reserves (PoR) and records of their liabilities.

42.31% think that more crypto exchanges will face bankruptcy as a result of a reduction in their customer base. 15.38% believe this will play out over the next 5 years while a quarter (26.92%) think it'll happen within the year.

• Survey methodology

  Finder surveyed 56 fintech specialists in January 2023. Panellists are able to answer as many or as few questions as they like, meaning the number of responses received varies by question. Panellists may own some cryptocurrencies.

  Meet the panel

Bottom line

Not all crypto exchanges are created equal and not all crypto buyers and sellers have the same trading needs. The best exchange or platform for one person might not necessarily be the right choice for someone else, so it's essential to do your own research.

Read our reviews of some of the most popular cryptocurrency exchanges in India and around the world before you decide which to use. Compare the features, fees and pros and cons of each platform and consider whether they align with your investment goals and budget.

Frequently asked questions

• Which crypto exchange is safest?

  The safest exchanges in India have stringent security measures like Know Your Customer (KYC) registration, password protection and a 2-factor authentication (2FA) option.

  Other green flags to look out for include the majority of user funds held in cold storage and a publicly available insurance policy for user deposits.

  Keep in mind that all centralised cryptocurrency exchanges are vulnerable to hacking, so consider using a hardware wallet for added security.

• Which crypto exchange has the lowest fees?

  There are lots of fees to take into account when choosing an exchange. Exchanges like Kraken and Binance are known for having competitive transaction fees.

  But, it's also important to consider deposit and withdrawal fees, possible account inactivity fees and spreads on top of this. A good place to start is by comparing fees with our table.

• What is the most trustworthy crypto exchange?

  Due diligence and research are incredibly important when choosing a crypto exchange you can trust.

  As a good rule of thumb, look for exchanges with a long history of serving customers without hacks — like Coinbase, Kraken or Binance.

  A great way to dive deeper is by reading our extended reviews of each crypto exchange and researching customer feedback on platforms like Trustpilot as well as industry data.

• Why do some crypto exchanges ask me to verify my identity?

  Exchanges in India and several other countries are subject to anti-money laundering and counter-terrorism financing (AML/CTF) laws. In order to comply, exchange operators must gather certain details about their customers – which is why you may be asked to provide proof of ID. This process is typically referred to as "know your customer" or KYC.

Methodology

To evaluate our 2024 picks for the best crypto exchanges in India, we compared trading platforms on a range of criteria, including the following:

• Supported assets. Does the platform offer a good breadth of coins, tokens and NFTs?
• Payment methods. What account funding options are available? Does the exchange accept bank transfers, credit and debit cards or crypto-only transfers?
• Fees. What trading fees, withdrawal fees and other miscellaneous charges are levied by the exchange, and are these rates comparable with competitor exchanges?
• User experience. Is the platform simple to use for both beginners and advanced crypto traders?
• Platform features. What tools, charts and functionalities are available on the exchange? Is there support for advanced trading features such as derivatives or hedging?
• Security. What measures are taken by the exchange to protect its customers' assets and prevent theft or loss? Are additional security features in place, including 2-factor authentication (2FA), cold storage of assets, regular audits and insurance coverage?
• Regulator registration. Is the platform registered with the Reserve Bank of India?
• Customer support. How do existing users rate the exchange's customer support? Does the exchange offer various methods of contact, such as email, instant chat, phone or social media?

Related: Read our full trading platform rating methodology

Finder's crypto exchange reviews