Best Crypto Exchanges in India

Indian Crypto Exchanges & Primary Info  

To start acquiring knowledge about a particular area, one has first to assume a basic definition of the key term, which, in our case, is a crypto exchange. In the generally accepted understanding, a crypto exchange is a digital platform where users (traders) can perform three basic actions using cryptocurrency: buy, sell, and invest in digital assets. 

This definition will create an associative row with a financial exchange, only instead of traders, there are brokers who use dollars and euros instead of Bitcoin and Ethereum; however, such an exchange has much fewer opportunities:  

• The crypto exchange is a chance to become an investment guru and learn how to earn money by buying and selling cryptocurrencies. 
• The crypto exchange is an even more reliable way of storing money than the iron walls of a bank. 
• The crypto exchange delivers 100% comfort when paying for all kinds of goods and services, thanks to instant data processing. 
• The crypto exchange is a new technique for modernizing most business processes, thanks to which you can forget about a lot of technical difficulties. 
• The crypto exchange is a way to find new business partners, as the number of major players in the crypto market is increasing. 

As you can see, crypto exchanges open up a much larger horizon for useful business activity than the traditional banking system. However, along with freedom, there is a space for dishonest financial intentions on the crypto exchange, the suppression of which we will talk about in the next part.

Crypto Exchanges Regulation Norms in India 

The crypto exchange is a giant turnover of digital assets, and without proper control, in an instant, this system will overflow with fraud, money laundering, and criminal schemes. Since all these factors can harm the country's economy, the Government of India has decided to introduce a set of measures aimed at regulating the activity of crypto exchanges. 

Today, crypto exchanges are a legal part of the financial system thanks to the introduction of the following rules:    

• Crypto trading taxation. The priority task of taxing crypto transactions is not so much to replenish the budget as to track digital flows. In particular, for this reason, the state taxes traders who make transactions for super-large amounts.   
• Travel rule. A special law that requires clarification of key information about traders who initiate large transactions on the crypto exchange.  
• KYC procedure. A well-known form of verification of a trader's identity on centralized crypto exchanges. The peculiarity of this procedure is that a trader cannot perform a single action without confirming his identity, which means that he can not start illegal transactions if he is planning such a thing. 
• Anti-Money Laundering. Money laundering has always been a criminal activity, and with the advent of crypto exchanges, this form of attack has moved to these platforms. The best way to combat this kind of cybercrime is to take preventive measures. Therefore, the Government of India has introduced a code of rules under the general name Anti-Money Laundering, which every trader should comply with if he wants to make transactions on a crypto exchange. 

Nevertheless, despite the active opposition to fraud on crypto exchanges, the situation remains “in progress.” So, for several years, Indian officials have been considering a law called the “Cryptocurrency Bill,” which should become a new milestone in resolving the issue of the functioning of crypto exchanges in the country.  

It is also crucial to clarify that if exchanges start to engage in "dark financial affairs," then local authorities will very quickly prohibit their activities. So, you should approach the choice of a platform responsibly so as not to find yourself in a situation where the authorities freeze your digital assets.

Best Crypto Exchange in India: Complete Selection Guide 

Each trader chooses a crypto exchange based on personal requirements, whether it is the number of cryptocurrencies or the interface convenience. However, there are a number of characteristics that distinguish the top crypto exchange. You can also study hundreds of articles with a headline like "the top 20 crypto exchanges in India" indefinitely, however, without knowledge of special criteria, it is difficult to pick the ideal platform. Now we will correct this omission.

For the start, we suggest you study the top nine crypto exchanges in India:

Transactions reliability 

Any crypto exchange that ranks itself among the pantheon of the best places the creation of a secure environment for all customers as a top priority. Security is the most essential characteristic of the crypto exchange because hackers make thousands of attempts every day to illegally withdraw cryptocurrencies from the wallets of other traders. 

Fortunately, security capabilities have gone much further than the arsenal of hacker techniques:  

1. At least two (or better, three) authentication steps using data that only the trader knows and no one else. 
2. Provides a cold wallet as the most reliable autonomous carrier of all digital funds, which eliminates hacking from the outside.  
3. Notifications about regular updating of the data required to log into the account to "keep your finger on the pulse" in the matter of personal security. 
4. Carrying out special procedures (SCA, SAST, DAST, or IAST) to prevent all attempts to enter hacker data. 

Ideally, a top crypto exchange builds its security system using all these four methods, and this is the minimum because if the client's funds are safe, then the trust and authority of the crypto exchange will grow. 

Available coins   

What is the main difference between financial and crypto exchanges? It is impossible for new currencies to appear in the financial exchange because new countries do not appear in the world. The crypto exchange is the exact opposite because, in addition to the well-known Bitcoin and Ethereum, we can name several dozen new ones. You can recognize an advanced crypto exchange precisely by this feature: a wide range of currencies: as such, a platform always offers its clients various investment opportunities. 

Trading volume index  

A "dead crypto exchange" is a red flag in the world of cryptocurrencies. If this formulation confuses you, then we can say more formally if this crucial indicator is low, then this is a sign of low quality in all respects, from security to customer support. A crypto exchange with a high trading volume rate is a platform with an enormous number of active users who trust its security and the conditions offered. 

Trading volume index  

A "dead crypto exchange" is a red flag in the world of cryptocurrencies. If this formulation confuses you, then we can say more formally if this crucial indicator is low, then this is a sign of low quality in all respects, from security to customer support. A crypto exchange with a high trading volume rate is a platform with an enormous number of active users who trust its security and the conditions offered. 

Crypto operation fees 

Crypto exchanges provide traders with freedom of action in their professional activities, but not for free. For each transaction, the crypto exchange takes a certain percentage of the operation fee, and this aspect is no less important than the previous ones. The difficulty lies in the fact that there is no specific amount that traders pay with each transaction because there are many types of crypto trading fees. 

Here are some examples of key categories:  

• Trading fees: traders always pay a charge after each successful transaction using cryptocurrency. 
• Withdrawal fees: some traders think that the withdrawal of digital assets is free, but this is not always the case, as some platforms require payment of charges for this operation.
• Service fees: special fees that the exchange may charge to optimize crypto processes on the platform.  
• Processing fees: in some cases, when buying cryptocurrencies through a bank credit card, crypto exchanges may also charge fees. 

In addition, some crypto exchanges set hidden fees, or they may not set charges at all, even after the most successful transactions. Therefore, literally, under a magnifying glass, study the rules for paying crypto trading fees on each platform to avoid misunderstandings and calculate the digital asset management strategy as accurately as possible.

Options for payments   

High-quality customer service begins with the replenishment of a crypto wallet and ends with the withdrawal of digital assets. If traders have difficulties at these stages, then their impression of the crypto exchange immediately deteriorates, and, as a result, their credibility decreases. Therefore, the best crypto exchanges in India provide the most variable payment options to their clients so that they can focus on trading and not worry about asset transfer.

Reputation score

Reputation is everything. No politician, businessman, or specialist working on the crypto exchange will argue with this statement. Reputation is a mirror of all the explicit and hidden characteristics of a crypto exchange. So, as the final act of finding the perfect trading platform, we recommend that you either analyze their reputation score on independent platforms or consult with experienced traders who will give you insights about one or another crypto exchange.

Best Crypto Exchange, India: Quick Summary

We can only compare the development of the crypto exchange sector in India with the growth in the number of sales of the new iPhone after its release. On par with this, both the number of traders on the platforms and the opportunities they offer are growing in India. For these reasons, it is not at all surprising that in the coming years, most of the business activity will move to the crypto field, so it is extremely important to be in this current trend. 

However, you cannot treat the choice of a crypto exchange thoughtlessly, so carefully study all the characteristics that we have described, and also pay attention to whether the crypto exchange follows local legal regulations. If you manage to make the right choice with the help of our guide, then success in the world of cryptocurrencies will not take long to wait.