Summary: Entering the world of Bitcoin and other cryptocurrencies in India has been made seamless with crypto exchanges that are recognized for their regulatory compliance with the Reserve Bank of India (RBI). These trustworthy platforms enable fast methods for depositing Indian Rupees (INR) via bank transfers (e.g UPI) or credit/debit card transactions, allowing you to quickly build your digital wealth.
Our team of experts has evaluated more than 15 notable crypto exchanges in India, all to guide you towards the most compliant and reliable choice. Focusing on their regulatory adherence and INR deposit features, we present you with the top 5 cryptocurrency trading platforms in India, according to our thorough analysis:
- Buy and sell over 350 cryptocurrencies with industry-leading fees (0.1%).
- Free and instant Indian Rupee (INR) deposits via bank transfer, UPI, credit cards and more.
- Regulated and available to all citizens and residents of India.
Top Crypto Trading Platforms India
Our team of experts has carefully developed a comprehensive evaluation method to rank the best cryptocurrency trading platforms in India. This assessment considers various factors for each platform, including their compliance with Reserve Bank of India (RBI) guidelines, historical safety records, level of transparency (including audit results), fee structures, offered features, supported cryptocurrencies, and other significant factors. Keep reading for an in-depth look into these top 5 Indian exchanges.
1. Binance
Binance is the best overall exchange in the Indian market and maintains its position as the largest globally, claiming over $70 billion in transactions within a single 24-hour span. This exchange extends to Indian investors a wide array of features, such as over 350 cryptocurrencies, an NFT marketplace, derivative contracts, options, and more, all while maintaining competitively low fees starting at just 0.1%
Understanding the needs of investors in India, Binance India offers a variety of deposit methods, including Indian bank transfers, Unified Payments Interface (UPI) transfers, Paytm, debit cards, credit cards, and other popular e-wallets. Additionally, those with verified accounts can use up to 25x leverage on the futures trading platform. For more information, our detailed Binance review provides a more comprehensive overview.
2. Bybit
Bybit is one of the most significant crypto spot and derivatives trading platforms globally, boasting over $8 billion in daily volume across both markets. The platform avails Indian investors access to more than 150 crypto derivatives contracts and 350 spot markets, thereby offering a vast array of options to buy, sell, and trade, all at minimal fees starting at 0.1% per taker order or 0.7% per maker order.
Bybit also offers a range of features such as Crypto Staking, an IDO Launchpad, NFT Marketplace, and more. Additionally, they provide various deposit methods, including Indian bank transfers, UPI transfers, Google Pay, Apple Pay, debit cards, credit cards, and other widely-used e-wallets. For a more in-depth understanding, you can refer to our detailed Bybit review.
3. OKX
Gaining the third spot, OKX is acclaimed as the top platform for beginners in India, chiefly due to its intuitive web and mobile app. As Decentralized Finance (DeFi) expands, OKX India leads by offering various DeFi products, including an NFT marketplace, a crypto wallet, and yield farming.
Besides its DeFi and NFT services, the platform provides advanced trading on spot, options, and derivative contracts. Futures can be traded with up to 100x leverage. It also facilitates crypto staking and offers lending/borrowing services up to $1 million in Bitcoin (BTC). Coupled with diverse deposit methods, these unique features make OKX a preferred exchange for Indian investors. For more information on the platform, check out our OKX review.
4. Gate.io
Coming in at fourth, Gate.io is celebrated as the best non-KYC cryptocurrency exchange in India. This platform caters to users who prioritize privacy, allowing them to engage in crypto transactions without revealing personal information. This means that investors can deposit, withdraw, and trade funds without ever needing to undergo identity verification. Gate.io is accessible globally, including in India, due to its non-requirement for verification.
The exchange presents a vast selection of over 1400 cryptocurrencies for trading. It maintains competitive fees and a secure environment equipped with safety features like cold storage and two-factor authentication. With its extensive range of cryptocurrencies for trading and no requirement for KYC, it stands as an ideal trading platform for users across India. For more information on the exchange, read our Gate.io review.
5. WazirX
Securing the fifth position among India's leading crypto exchanges, WazirX, an India-based platform, is favored for its user-centric interface and wide range of cryptocurrency offerings. It caters to investors interested in diversifying their crypto portfolios with numerous trading options.
In compliance with RBI regulations, WazirX guarantees a secure trading environment fortified by advanced security measures. It supports diverse deposit methods like Indian bank transfers, UPI, Paytm, and various cards and e-wallets. Standing out for its dedication to user accessibility, competitive fees, and convenience, WazirX, with its roots firmly in India, is a compelling choice for both new and experienced crypto investors in the country.
Is Crypto Legal in India?
Yes, cryptocurrency investing is legal in India. The Reserve Bank of India (RBI), the country's central banking institution, had initially issued a circular in April 2018 prohibiting banks and financial institutions from dealing with cryptocurrencies. However, in March 2020, the Supreme Court of India overturned this ban, allowing banks and financial entities to resume cryptocurrency-related services.
What is the Safest Exchange in India?
Binance is widely recognized as the safest cryptocurrency exchange in India. This global reputation extends from its position as the world's largest and most secure cryptocurrency platform, trusted by over 120 million investors worldwide.
The exchange enforces robust security protocols and leverages advanced technology to safeguard user assets and data. Regular audits provide transparent proof of reserves, bolstering investor trust. Stringent identification processes, two-factor authentication, and a withdrawal whitelist amplify security. Furthermore, the Secure Asset Fund for Users (SAFU) offers an added layer of protection of customer funds, reinforcing Binance's commitment to a secure crypto trading experience.
Bottom Line
In conclusion, the evolving landscape of cryptocurrency trading in India offers promising opportunities for investors. With the legal barrier lifted, trading platforms like Binance, Bybit, OKX, Gate.io, and WazirX lead the sector with their robust features, secure transaction methods, and adherence to RBI guidelines. As the crypto market grows, these exchanges are primed to facilitate the transition into digital wealth building for Indian investors.
Be it the convenience of diversified investment options, the assurance of privacy, or the safety of transactions, each exchange offers unique attributes that cater to varying investor needs. As we navigate this digital transformation, it is essential to stay informed and consider the most compliant and reliable platforms for cryptocurrency trading in India.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.
