Bitcoin Exchange – Cryptocurrency trading is a reality in India. The Supreme court of India has given clearance on dealing with cryptocurrencies. In simple words, buying or selling bitcoin is now legal in India. Indian traders can now use Indian rupee from the bank account at bitcoin exchange to buy and sell cryptocurrency bitcoin.
There are many bitcoin exchanges (cryptocurrency exchanges) operational in India. If you are keen to invest in bitcoin or cryptocurrency, this post is for you. In this post, I will share detail about popular bitcoin exchanges in India including information about – How to purchase bitcoin in India?
So, let’s get started with a few popular Bitcoin Exchanges.
In this article, you will learn
Bitcoin Exchange – How to Purchase Bitcoin in India?
Zebpay is the most popular bitcoin exchange in India. Zebpay provides trading facilities in Bitcoin, Ethereum, BAT, XRP, and other cryptocurrencies with lower fees and higher security. You can make use of this platform on your desktop, laptop as well as mobile.
Key Features of Zebpay
- You can trade across 5 different crypto pairs including bitcoin, ether, ripple, tether.
- Robust security control with PIN-based security and disable outgoing transaction.
- Trade across devices like laptop, mobile, and tablet.
- Transaction from your bank account.
- Zero Deposit fee for using Zebpay.
Zebpay offers the highest level of security. They use propriety security protocols for performing transactions. They have very good internal control such as firewall and third party secure access methods. Zebpay is backed by the compliance of ISO 27001:2013 security framework, GDPR, etc.
The fee structure of Zebpay is given below.
- Membership fee of Zebpay is 0.0001 BTC or equivalent per month.
- Maker fees – 0.15%
- Taker Fees – 0.25%
- Intraday Fees – 0.10%
- INR withdrawal fees – Rs.10
How to sign up and use Zebpay?
It is very easy to sign up and use Zebpay. Visit zebpay.com and click on the Sign-Up button available at the top right-most corner. You will be asked to enter your mobile number, full name, and email address. You will be also asked to provide 4-digit pin.
Once you click on the submit button, a verification code OTP will be sent to your mobile number. Once you enter valid OTP you will be prompted to input 4-digit pin. Now verification email will be sent to your e-mail address. Once you confirm your e-mail address by clicking on verification link your account will be opened on Zebpay.
You need to complete KYC process by uploading valid ID document and address proof. Once you complete KYC you are ready to buy and sell cryptocurrency via Zebpay. You need to provide your PAN number and bank details while doing KYC.
You just need to click on the Buy button and enter the amount of money you want to buy Bitcoins for. Your bitcoin will be credited in your wallet. The process of sell is similar you need to click sell button and enter details about selling bitcoin. The process is similar for any crypto currency.
Pros of Zebpay
- INR deposit and withdrawal
- Intraday crypto trading facility
- Lower maker fees
Cons of Zebpay
Unocoin is India’s leading crypto trading and block chain company. It is claimed to be most trusted Bitcoin Exchange. Unocoin provides trading facility for Bitcoin, Ether and Tether. You can buy and sell these cryptocurrencies via desktops & mobiles.
Key features of Unocoin
- You can purchase Bitcoin, Ether and Tether using this platform.
- Available on desktop as well as on mobile.
- Enhance security with AES 256 encryption and two factor authentication.
- Auto sell and Systematic Buying plans (SBP).
- Allows to recharge mobile, DTH using bitcoin.
The private keys use for dealing in transactions are secured by encryption using 246 bit AES standard. Most of the crypto assets stored offline. The set of multiple address for offline storage are never connect to internet. This makes system more secure and robust.
The fees structure of Unocoin is given below.
- Unocoin charges a fee of 0.7% to buy or sell bitcoin.
- There is no fee to store your bitcoin in Unocoin wallet.
- For sending bitcoin to other bitcoin address fee is 0.0005 to 0.0009 BTC.
How to sign up and use Unocoin?
You need to visit https://unocoin.com and click create an Account button. Register with your mobile number and password of your choice. Press the submit button. OTP will be sent to your mobile number. Once you input OTP, you will be taken up to page where you need to setup security question and profile. On completion of profile setup you need to verify your account by providing your bank account, PAN card and Aadhaar card details. Once your details are verified your account will be activated.
Buying bitcoin via this platform is easy. You just need to visit dashboard and select buy option. You need to enter amount in INR or number of Bitcoin you want to purchase. Just confirm the order and bitcoin will be credited.
Pros of Unocoin
- Secured Platform with encryption.
- Lending of bitcoin is allowed.
- Easy to use platform.
Cons of Unocoin
- Trading facility in limited crypto currencies.
- Fees is relatively higher.
Wazirx is India’s most trusted and cheapest Bitcoin Exchange. You can Buy, Sell & Trade Bitcoin, Ethereum, Ripple, Litecoin and more cryptocurrencies in India using Wazirx. Wazirx offers mobile app as well as desktop and laptop client for buying and selling cryptocurrencies.
Key features of Wazirx
- Simple and user-friendly design.
- Lightning speed transactions.
- Support across 5 platforms including windows and mac os support.e
- Superfast KYC process.
- High level of security.
Wazirx provides the best in class security for doing crypto transactions. The login id is by default enabled with two-factor authentication with OTP support via email and mobile SMS. The security score of the Wazirx exchange site is C, which is best among the industry.
- Membership fee of Wazirx is NIL
- Maker fees – 0.2%
- Taker Fees – 0.2%
- Intraday Fees – NA
- INR withdrawal fees – Not mentioned
How to sign up and use Wazirx?
To make use of Wazirx, you need to sign up at Wazirx site by giving your email id. Once you register you will receive a verification link on your e-mail address. After verification of e-mail you need to complete KYC process. Once you are done with KYC process you can start using Wazirx for buying cryptocurrencies.
On Wazirx, you can place two types of orders. You can directly place an order on the market by clicking on the buy button and entering the value of cryptocurrency. You can also make use of P2P. Person 2 Person platform where once you place order system will automatically match you with the seller. The seller will confirm your payment and transactions get completed.
Pros of Wazirx
- 50+ crypto pairs for trading
- Exchange, P2P and STF markets
- Advances trading tools on Trading View
Cons of Wazirx
- No intraday trading facility
- Minimum withdrawal amounts
The usage of Bitcoin Exchange and cryptocurrency trading is going to increase in India. If you have surplus money and interested to buy bitcoin you can make use of Zebpay, Unocoin or Wazirx. If you are already using these platforms, please feel free to share you experience in the comment section given below.