Best Crypto Exchange in India
Nowadays there is too much news about Cryptocurrency like Bitcoin, Ethereum, Dogecoin, Shiba Inu coin, etc. and you might be also looking for a Crypto Exchange platform through which you can trade in cryptocurrency.
To solve your problem, we are going to compare, thoroughly, some famous and most used Crypto Trading platform in India:
- CoinSwitch Kuber
After reading this article you will be clear about which Crypto Exchange platform is best for you.
The comparison will be based on their Charges, Features, and USP, Ease of Use, and in the end, we will also compare based on its Pros and Cons.
History of Different Crypto Exchanges
Before choosing any Crypto platform, we should conduct proper research about the company and its history, so firstly we will know about their past.
The company was started in the year 2017, but the CoinSwitch Kuber platform was launched in June 2020. This platform is specifically designed for India.
They have seen good growth after its launch. According to them, they are currently serving more than 4 million users.
In January 2021, they raised $15 million and in April they raised $25 million in their Series B round.
Their valuation has crossed $500 Million and now they are the most valuable Crypto Startup in India.
It was started in the year 2017, it was the time period when RBI issued the rule that banks can not be used to buy CryptoCurrency.
In the year 2019, it was acquired by Binance.
Now they have more than 3 million users and the trading volume of April month crossed $2.4 billion.
They are the largest Crypto trading platform in terms of Trading Volume.
It was launched in the year 2014-15 and many Indians bought their first Bitcoin using Zeb-pay.
When RBI banned Crypto in India, they shut down their operation in the country, but in the year 2020, they again entered the Indian Market.
However, second time when they entered the Indian market, the owners were changed.
It was started in 2017 and it is the world’s largest Crypto Exchange Platform. It is the most used Crypto Exchange platform in the world.
Fees and Charges
Do you know the prices of one Bitcoin is not the same in every crypto exchange instead it varies from platform to platform? Bitcoin from ‘CoinSwitch Kuber’ is the most expensive one in India, after that ‘WazirX’ then ‘Zeb-pay’ and the lowest listed price of Bitcoin is on Binance.
There is a 5%-7% difference in prices between CoinSwitch Kuber and WazirX.
Now you might think Binance has the least price of a Bitcoin, so why not use Binance?
But the problem is, you can invest in Rupees using Indian platforms like CoinSwitch Kuber, WazirX, and ZebPay but in Binance you can only transact through US Dollars.
To invest through Binance firstly you have to convert your Indian Rupee into USDT, only then you can invest, and you have to bear the conversation charge.
So now let’s understand their fee structure:
CoinSwitch Kuber has Zero Brokerage fees but they have some hidden charges. The reason for the high listing price of Bitcoin is, they include their hidden charges in the cost of CryptoCurrency itself.
But there are some benefits as well of using CoinSwitch, it does not have any Deposit and Withdrawal charges.
Their Trading charges are 0-0.49%
The deposit Fee is Rs.5-10 and UPI Deposit Fee is Rs.4-5.
Their Withdrawal Charges are 0.0006 BTC.
When it comes to Trading Charges, then it is as follows:
- Maker Fee = 0.2%
- Taker Fee = 0.2%
The Taker fee is levied if you place an order, and it takes place immediately and the Maker fee is levied if first entered into the order book and then the order is booked.
But if you use WazirX’s token WRX you get a 50% discount on fee charges.
The deposit Fee is Rs10-15
Withdrawing charges is Rs.10, but if you withdraw Cryptocurrency, then they charge 0.0006 BTC.
Their Trading Charges are as follows:
- Maker Fee = 0.15%
- Taker Fee = 0.25%
Intraday Trading Charges are 0.1%.
They charge a Monthly Membership fee as well which is 0.0001 BTC and if you trade from one cryptocurrency to another one, then they don’t charge any fees.
They have Zero Deposit and Withdrawal Fees
Their Trading Fee is 0.01%, but you can get a 25% discount if you use their Binance Coin for trading purposes.
Their maximum withdrawal fee is 0.0005 BTC if you withdraw in Bitcoins.
Ease of Use
In this aspect CoinSwitch is far ahead it has easy to use application and simple UI, if you are investing for the very first time then you can easily understand its features and how to use it.
It is as easy as you transfer money through UPI and the profit and loss graph can also be understood.
It is more complex than CoinSwitch, it might take you some time to understand it.
It is also very easy to use like CoinSwitch and can be accessed even by a naïve.
Their light version is easy to use but if you are using the pro version then it is difficult to understand, it has so many complex features.
Features, Pros, and Cons of Different Crypto Exchanges
This section is like a conclusion where you will get to know about what are their pros and cons
- It is very easy to use
- Fast Transaction
- High charges
- Fewer choices of Crypto
- No web support, you need to download their app to use it.
- Fewer fees as a comparison to other Crypto Exchange platform
- Transfer your WazirX deposit to Binance at any time without any fees.
- More Crypto Currency as a comparison to CoinSwitch
- Difficult UI: It is difficult to understand in the beginning.
- Slow Transaction: Their transaction speed is a little slow in comparison to other platforms.
- Crash Frequently: It crashes very frequently in comparison to CoinSwitch Kuber sometimes that lead to loss of investors.
- Clean Interface
- Fast Transaction
- Monthly Membership Fee: If you are not trading daily then this would be an extra expense.
- Less Crypto Currency: The options available are very less as a comparison to CoinSwitch Kuber and WazirX
- High Charges and Fees
- Best Prices.
- Wide variety of options: If you are a pro-level Crypto Trader then these options can be very lucrative for you.
- Highly Secured
- Liquidity: They have good liquidity you can withdraw and deposit any time.
- Available in Web and App, both.
- Cannot trade in INR that leads to conversation fee and make it a lengthy process.
- Complex to understand in the beginning.
Note: This was an unbiased comparison, if you will compare all the aspects then you can understand which is the best platform for you.