Best Crypto Trading Platforms for Indians in 2024

As more Indians enter the world of digital assets, choosing the right trading platform is critical. Here are the best crypto trading platforms for Indians in 2024:

1. WazirX

WazirX is India’s largest cryptocurrency exchange. It has a user-friendly interface, low trading fees (0.2%), and supports over 100 cryptocurrencies. WazirX also has a peer-to-peer (P2P) trading feature that allows users to buy and sell crypto directly with each other using INR.

Key features

• WRX token for reduced trading fees:

WazirX has its native WRX token which users can hold to enjoy reduced trading fees on the platform. Users can save up to 50% on trading fees, making it more cost-effective for frequent traders. The more WRX a user holds, the greater the discount on trading fees.

• WazirX NFT marketplace:

WazirX has launched its own NFT marketplace, allowing users to buy, sell, and create non-fungible tokens (NFTs). WazirX’s NFT platform aims to make NFT trading accessible to a wider audience and foster the growth of the NFT ecosystem in India.

• Mobile app for iOS and Android:

WazirX has a user-friendly mobile app for both iOS and Android devices that enables users to trade cryptocurrencies on the go. The app provides a seamless trading experience with real-time market data, charting tools, and easy navigation. Users can also deposit, withdraw, and manage their funds directly from the mobile app, ensuring convenience and accessibility.

2. CoinDCX

CoinDCX, founded in 2018, is another popular Indian crypto exchange. It has a wide range of features, including spot trading, margin trading, and futures trading. CoinDCX supports over 200 cryptocurrencies and has competitive trading fees (0.1% for makers, 0.2% for takers).

Key features

• CoinDCX Lend for earning interest on crypto holdings:

CoinDCX Lend allows users to earn interest on their cryptocurrency holdings by participating in lending and borrowing activities. Users can lend their idle crypto assets to earn passive income, with interest rates varying based on the asset and market conditions. This feature provides an opportunity for users to generate returns on their investments without actively trading.

• CoinDCX Pro for advanced traders:

CoinDCX Pro is a trading platform designed for experienced and professional traders. It has advanced trading features, such as margin trading, futures contracts, and API trading. CoinDCX Pro gives users access to a wide range of trading pairs, deep liquidity, and competitive trading fees. The platform also includes comprehensive charting tools and real-time market data to help traders make informed decisions.

• Insurance fund to protect user assets:

CoinDCX has established an insurance fund to protect user assets in case of unexpected events, such as hacks or security breaches. The insurance fund is maintained through a portion of the trading fees collected by the platform. In the event of a loss, the insurance fund is used to compensate affected users, providing an additional layer of security and trust. This feature demonstrates CoinDCX’s commitment to safeguarding user funds and creating a secure trading environment.

3. Unocoin

Unocoin was founded in 2013. It is one of India’s oldest crypto exchanges. It has a simple and secure platform for buying, selling, and storing cryptocurrencies. Unocoin supports over 30 cryptocurrencies and has a flat trading fee of 0.7%.

Key features

• Instant deposit and withdrawal using UPI:

Unocoin allows users to instantly deposit and withdraw Indian Rupees (INR) using Unified Payments Interface (UPI). UPI is a popular real-time payment system in India that enables fast and secure transactions. Unocoin makes it convenient for users to fund their accounts and withdraw their funds without the need for bank transfers or other time-consuming methods.

• SIP (Systematic Investment Plan) for regular crypto investments:

Unocoin has a Systematic Investment Plan (SIP) feature that allows users to invest a fixed amount of money in cryptocurrencies at regular intervals. SIP helps users mitigate the impact of market volatility by investing consistently over time, a strategy known as rupee-cost averaging. This feature is particularly useful for long-term investors who want to build their crypto portfolio gradually and avoid the risks associated with trying to time the market.

• Unocoin Unodax for high-volume traders:

Unocoin Unodax is a trading platform designed for high-volume traders who require advanced trading features and liquidity. Unodax has a wide range of trading pairs, including major cryptocurrencies and popular altcoins. The platform provides users with access to deep liquidity, competitive trading fees, and advanced order types, such as limit orders and stop-loss orders. Unodax also includes comprehensive charting tools and real-time market data to help traders make informed decisions.

4. ZebPay

ZebPay, founded in 2014, is another well-established Indian crypto exchange. It has a beginner-friendly platform with a focus on security and compliance. ZebPay supports over 20 cryptocurrencies and has trading fees ranging from 0.2% to 0.25%.

Key features

• ZebPay Earn for staking rewards:

ZebPay has a staking feature called ZebPay Earn that allows users to earn rewards by holding and staking supported cryptocurrencies. Staking involves locking up cryptocurrency holdings to support the network’s operations and security. In return, stakers receive rewards in the form of additional tokens. ZebPay Earn enables users to participate in staking without the need for technical knowledge or hardware setup, making it accessible to a wider audience.

• ZebPay Lending for earning interest on crypto:

ZebPay Lending is a feature that enables users to earn interest on their cryptocurrency holdings by lending them out to borrowers. Users can lend their idle crypto assets and earn passive income, with interest rates varying based on the asset and market conditions. ZebPay Lending provides an opportunity for users to generate returns on their investments without actively trading, while also contributing to the liquidity of the crypto lending market.

• ZebPay OTC Desk for large trades:

ZebPay OTC (Over-the-Counter) Desk is a service designed for high-net-worth individuals and institutional investors who want to execute large cryptocurrency trades. OTC trades are conducted directly between buyers and sellers, without going through the public order book. ZebPay’s OTC Desk has personalized service, competitive pricing, and fast settlement for large-volume transactions. This feature caters to the needs of investors who require discretion and flexibility when trading significant amounts of cryptocurrency.

5. Bitbns

Bitbns, founded in 2017, is a fast-growing Indian crypto exchange. It has a sleek and intuitive trading platform with a focus on simplicity and efficiency. Bitbns supports over 100 cryptocurrencies and has competitive trading fees (0.25%).

Key features

• Bitbns Pro for advanced traders:

Bitbns Pro is a trading platform designed for experienced and professional traders who require advanced trading features and tools. The platform has a wide range of trading pairs, including major cryptocurrencies and popular altcoins. Bitbns Pro gives users access to deep liquidity, competitive trading fees, and advanced order types, such as limit orders, stop-loss orders, and margin trading. The platform also includes comprehensive charting tools, real-time market data, and customizable layouts to help traders make informed decisions and execute their strategies efficiently.

• Margin trading with up to 5x leverage:

Bitbns has margin trading, allowing users to trade with borrowed funds to amplify their potential returns. Users can trade with up to 5x leverage, meaning they can open positions worth up to five times their account balance. Margin trading enables traders to capitalize on market opportunities and potentially increase their profits. It also comes with increased risks, as losses can be magnified as well. Bitbns provides risk management tools and education resources to help users understand and manage the risks associated with margin trading.

• Bitbns Boost for earning interest on crypto holdings:

Bitbns Boost is a feature that allows users to earn interest on their cryptocurrency holdings by participating in lending and staking activities. Users can lend their idle crypto assets to earn passive income, with interest rates varying based on the asset and market conditions. Bitbns Boost supports staking for select proof-of-stake (PoS) cryptocurrencies that allows users to earn rewards for holding and staking these assets. This feature provides an opportunity for users to generate returns on their investments without actively trading, diversifying their income streams within the crypto ecosystem.

Frequently Asked Questions

1. What factors should Indians consider when choosing a crypto trading platform?

Indians should consider factors such as user-friendliness, trading fees, supported cryptocurrencies, security measures, and additional features like staking, lending, and advanced trading options.

2. How does WazirX’s WRX token benefit users?

WazirX’s WRX token allows users to enjoy reduced trading fees on the platform. The more WRX a user holds, the greater the discount on trading fees, making it cost-effective for frequent traders.

3. What is CoinDCX Lend, and how does it work?

CoinDCX Lend enables users to earn interest on their cryptocurrency holdings by participating in lending and borrowing activities. Users can lend their idle crypto assets and earn passive income, with interest rates varying based on the asset and market conditions.

4. How does Unocoin’s Systematic Investment Plan (SIP) feature work?

Unocoin’s SIP feature allows users to invest a fixed amount of money in cryptocurrencies at regular intervals. This helps users mitigate the impact of market volatility by investing consistently over time, a strategy known as rupee-cost averaging.

5. What is ZebPay’s OTC Desk, and who is it designed for?

ZebPay’s OTC Desk is a service designed for high-net-worth individuals and institutional investors who want to execute large cryptocurrency trades. It offers personalized service, competitive pricing, and fast settlement for large-volume transactions.

6. What is Bitbns Boost, and how does it help users earn interest on their crypto holdings?

Bitbns Boost allows users to earn interest on their cryptocurrency holdings by participating in lending and staking activities. Users can lend their idle crypto assets or stake select proof-of-stake (PoS) cryptocurrencies to earn passive income.

7. What are the benefits of using Bitbns Pro for advanced traders?

Bitbns Pro offers advanced trading features and tools, including a wide range of trading pairs, deep liquidity, competitive fees, and advanced order types like limit orders, stop-loss orders, and margin trading. It also provides comprehensive charting tools and real-time market data to help traders make informed decisions.