Top Bitcoin and cryptocurrency exchanges in India — 2019
I am very active on Quora where I have replied dozens of similar questions like this. I have used 15+ crypto exchanges till now. I know its difficult to choose top exchanges, though I have considered these factors — security, ease of use, reliability and support team response time. As an early investor in cryptocurrency, I know how exchanges evolved from nothing to best reliable and secure way of trading.
RBI issued communication about the discontinuation of services by RBI regulated entities (banks/payment gateways) for purchase and sale of Bitcoin and other virtual currencies and that changed everything for the exchanges. Previously, the role of exchanges in trading is far more complex than that of now. You can read in my previous article where I have mentioned how P2P works and how it is different from earlier.
So, coming to the topic, previously we had only two exchanges Zebpay and Unocoin for trading in which Unocoin is most likely dead now. While Zebpay has changed its operation from local to global. They both take too much time to adapt to the new market that’s why they lose their users since then.
Currently, the new exchanges like Koinex, WazirX, and Bitbns has occupied this market. These three exchanges came when the crypto created hype in India due to its exponential surge in price. Since then, 10–12 crypto exchanges knocked this space and end up shitting. But these three exchanges making the crypto space/trading better, secure and easy for all.
WazirX — This crypto exchange is something that we should all appreciate. This exchange came after Koinex and Bitbns and creates his separated fan-base due to ease to trade. That’s something really difficult, as everyone is struggling with the new RBI guidelines. They created an error-less automated trading platform which makes the trading way easier with respect to other exchanges available. With some few clicks you can just sell any of your assets easily.
Here you can see how easy it is to trade with this platform[in Hindi] https://www.youtube.com/watch?v=97LXF1XY6aA
Koinex — Koinex is something we can trust and rely on, it came when Zebpay and Unocoin had already penetrated the market. They came as different, they are the first reliable Indian exchange to let you buy multiple crypto assets like Ripple, Ethereum, Bitcoin Cash and Litecoin directly from Debit cards, e-wallets. I was a big fan of this exchange at that time. At start they only provided 5 cryptocurrencies. There is a reason it is on #2 due to its semi-automated process of buying or selling cryptocurrency.
Here you can see how you can trade on Koinex[in Hindi] https://www.youtube.com/watch?v=3zCW7FrrHEc&t=4s
BitBNS — BitBNS started like a star, at the start it let you purchase 20+ cryptocurrency directly with UPI, E-wallets. That is really a big deal as all other exchanges are either let you purchase only Bitcoin or less than 5–6 cryptos. It is first Indian exchange to include margin trading. Currently, it let you trade 67 cryptocurrencies so far. They also have option to lend or borrow cryptos.
Here you can see how you can trade on BitBNS [in Hindi] https://www.youtube.com/watch?v=ir6UiY-PVOc
Conclusion
From 2015 till now, several exchanges came, out of which these three exchanges mentioned above are something that we needed. Of course, there will much others that I haven’t used till yet but this list is something that I can definitely rely on and can recommend to others as well.
