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14 best crypto exchanges in India

Find the best Indian crypto exchange or app for low fees, beginners, trading features and more.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Each year, we conduct an extensive review of crypto trading platforms available in India. To arrive at these picks, we compared user experience, fees, payment methods and selection of coins for dozens of platforms.

You may want to use multiple exchanges to benefit from their unique combination of services, such as using one for its range of coins and another for access to NFTs or staking services.

Finder India’s best crypto exchanges and trading platforms for 2024

  • Kraken – Best global crypto exchange
  • WazirX – Best Indian crypto exchange
  • Binance – Best for low fees
  • CoinDCX – Best for high-volume traders
  • Crypto.com – Best for NFTs
  • BuyUcoin – Best for Systematic Crypto Investment Plans (SCIPs)
  • KuCoin – Best for emerging altcoins
  • Bybit – Best for derivatives trading
  • ZebPay – Best for earning yield
  • CoinSwitch – Best crypto app
  • Bitbns – Best for advanced features
  • Unocoin – Best for beginners
  • Giottus – Best multilingual exchange for Indian users
  • Krypto – Best for crypto payments

1. Kraken – Best global crypto exchange

Kraken Cryptocurrency Exchange

220+
Supported cryptos
6
Fiat currencies

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. Kraken Cryptocurrency Exchange markets interface

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

WazirX Cryptocurrency Exchange

280+
Supported cryptos
1
Fiat currency

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. WazirX Cryptocurrency Exchange markets interface

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

Binance Cryptocurrency Exchange

360+
Supported cryptos
71
Fiat currencies
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. Binance Cryptocurrency Exchange markets interface

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

CoinDCX Exchange

210+
Supported cryptos
1
Fiat currency

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. CoinDCX Exchange markets interface

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

Crypto.com App

270+
Supported cryptos
31
Fiat currencies

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. Crypto.com App markets interface

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’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)

BuyUcoin Cryptocurrency Exchange

80+
Supported cryptos
1
Fiat currency

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. BuyUcoin Cryptocurrency Exchange markets interface

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

KuCoin Cryptocurrency Exchange

740+
Supported cryptos
50
Fiat currencies
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. KuCoin Cryptocurrency Exchange markets interface

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

Bybit Cryptocurrency Exchange

★★★★★
Finder score
270+
Supported cryptos
73
Fiat currencies

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. Bybit Cryptocurrency Exchange markets interface

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’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

Zebpay Cryptocurrency Exchange App

30+
Supported cryptos
3
Fiat currencies

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. Zebpay Cryptocurrency Exchange App markets interface

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

CoinSwitch

380+
Supported cryptos
1
Fiat currency

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. CoinSwitch markets interface

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

Bitbns Cryptocurrency Exchange

70+
Supported cryptos
4
Fiat currencies

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. Bitbns Cryptocurrency Exchange markets interface

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

Unocoin Cryptocurrency Exchange

10+
Supported cryptos
1
Fiat currency

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. Unocoin Cryptocurrency Exchange markets interface

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

Giottus

140+
Supported cryptos
1
Fiat currency

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. Giottus markets interface

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

Krypto

20+
Supported cryptos
1
Fiat currency

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. Krypto markets interface

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
[/fin_hide]

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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:

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.
1 - 10 of 24
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Finder Award
EXCLUSIVE
Binance Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

71

362

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

Capital at risk

View details
OKX Cryptocurrency Exchange
OFFER
OKX Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

36

340

Refer a friend to win a mystery box worth up to US$10,000. T&Cs apply.
Go to site

Capital at risk

View details
Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

73

279

Disclaimer: Highly volatile investment product. Your capital is at risk.
Go to site

Capital at risk

View details
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay

6

221

Go to site

Capital at risk

View details
WazirX Cryptocurrency Exchange
WazirX Cryptocurrency Exchange
Cryptocurrency, UPI, IMPS, NEFT, RTGS

1

289

Go to site

Capital at risk

View details
OFFER
KuCoin Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

50

742

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

Capital at risk

View details
BuyUcoin Cryptocurrency Exchange
BuyUcoin Cryptocurrency Exchange
Bank transfer

1

86

Go to site

Capital at risk

View details
EXCLUSIVE
Gate.io Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card

8

1604

New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
Go to site

Capital at risk

View details
Gemini Cryptocurrency Exchange
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Debit card, PayPal, Wire transfer, Apple Pay, Google Pay

8

102

Capital at risk

View details
Bittrex Global
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card

2

349

Go to site

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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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:

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 (suited to beginners). Buy directly from cryptocurrency dealers for simple and quick purchases. Many beginners use brokers for their first purchase. 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). 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:

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.

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

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?

Finder's crypto exchange reviews

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Written by

Frank Corva

Frank Corva is business-to-business (B2B) correspondent for Bitcoin Magazine and formerly the cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. He worked in Ghana and Venezuela before earning a degree in applied linguistics at Teachers College, Columbia University. He also taught writing and entertainment business courses in Japan and worked with UNICEF in Namibia before returning to the US to teach at universities in New York City. Earlier in his career, he spent years working as a publicist and graphic designer for record labels like Warner Music Group and Triple Crown Records. During that time, he was also a music journalist whose writing and photography was in published in Alternative Press, Spin and other outlets. See full profile

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