From lucrative to prudential â€“ this perceptual shift regarding cryptocurrency trading in India has never been as noticeable as itâ€™s today. Some are doing so to make quick money. Some are taking the course to beat the rising inflation. Some see it as a means to secure their future with a passive income. Some also use it as an instrument to bypass the complex tax regime. While some are using it for noble reasons to help others in their difficulties with quick fund transfer. Its acceptance has triggered the demand for apps to trade cryptocurrencies in India.
Here is a roundup of top crypto exchanges apps to trade in India. Liquidity Scores, Volume, Web Traffic Factor, cvw and Confidence scores are the key criteria of this ranking.
Both spot and futures markets are available with the PCEX Member App. The trading app is owned by Panaesha Capital Traders. Major cryptocurrencies traded on this platform are BTC, BCH, DASH, ETH, and LTC. It supports investing with INR such as btc to inr , along with other fiat and crypto currencies.
Keeping its lot-size small that fills fast, for the first time, the trading app has been able to rope in small investors, who were earlier maintaining a distance from the crypto asset trading market. Low flat transaction fee is something that entices big and small investors. The transaction fee is a flat 0.3%. There is no deposit fee. For instant withdrawal, INR 10 is applicable. The worth of trading volume in the spot market stands at INR 11,75,63,83,087.56.
The PCEX Member Bitcoin & Cryptocurrency Exchange app is available on Google Play.
Spot or derivatives â€“ no matter what side you choose, Binance has got you covered. Binance is based in Malta. Top cryptocurrencies traded on the exchange app include BNB, BTC, ETH and GRT. It supports investing with INR along with 42 other fiat currencies.
With market capitalization equivalent to $1,042,630,042,049 and the list of markets growing as many as 34,100, Binance deserves to be in this list. More market choices means you can diversify your investment portfolio to mitigate risk and maximize your earning potential.
The app is available on Google Play and App Store. Mac, Windows and Linux users can also download the respective desktop apps to make trading seamless.
Bybit, established in March 2018, is one of the fastest growing cryptocurrency derivatives exchanges. It allows you to trade BTC, ETH, LINK, LTC, and XRP and other popular cryptocurrencies. Bybit doesnâ€™t accept INR fiat, but you can invest and withdraw in USD.
Bybit has a market capitalization of $1,038,187,090,550 and the number of derivatives markets is 10. The crypto exchange rewards investors with bonus. The maker fee is -0.025%, and for takers, itâ€™s 0.075%. The app is available on iOS App Store and Google Play.
Spot and future markets trading options are available with Bitfinex trading app. It supports trading in 145 cryptocurrencies, including BTC, ETH, UST, XRP, LTC, EOS, DOT, and XLM. Currently, it doesnâ€™t accept INR as a fiat currency, but you can trade in USD. Other supported currencies include, EUR, GBP and JPY.
The market capitalization of Bitfinex stands at $1,039,773,378 and it allows investors to trade in 303 markets.
Trading fees are between 0% and 0.1% for deposit, 0.2% for makers and 0.055% for takers. The crypto trading app is available on Google Play and App Store.
Cited as one of the most trusted crypto exchange platforms for spot trading. Coinbase has over 35 million active users. Its 24-hour trading volume is worth getting a mention. It clocks at USD 5 billion. The exchange helps you trade in 42 crypto assets, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum (ETC) and Litecoin (LTC), to name a few. It doesnâ€™t support INR as a fiat currency, but you can trade in USD. EUR, and GBP are also supported.
Coinbase was founded in San Francisco, California in 2012. The app presents a simple-to-use interface to ease trading. KYC verification is mandatory.
Coinbase levies per transaction fee, which is calculated as follows: for transactions under USD200, a minimum fee is applied. However, for transactions over USD200, a percentage fee is applied.
The crypto trading app is available on Google Play and App Store
Globally, Bithumb ranks 6th with a trading volume to the tune of USD2.5 billion. It supports asset trading in 135 cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin cash, Stellar Lumens, and Litecoin. The virtual currency exchange platform has 8 million registered users. Currently, it only supports South Korean Won, but you can trade from India using your Master or Visa card with an international transaction facility.
Wondering about the transaction Fee? Deposit fees depend on the type of coin you want to use to fund your account. No fee is required when you use cryptocurrencies such as Ethereum, Ripple and EOS. Deposit with Bitcoin, Dash and Litecoin carries a very small fee. Likewise, the withdrawal fee depends upon the currency type. For example, with Ethereum, it costs 0.01 ETH and Bitcoin, 0.001 BTC.
The Bithumb crypto trading app is available on Google Play and iOS App Store.
About the Author:
Rahul Kohli is a writer by day and reader by night, he loves to share his opinion about cryptocurrency and the stock market through articles, blogs, podcasts, and videos. Find him on Twitter here