6 Best Crypto Exchange in India (2024)

This list of the best crypto exchange in India is crafted based on an analysis of key factors, including:

• Security: The chosen exchanges employ robust security measures, including 2FA, cold storage, insurance against theft, etc.
• User Experience: The exchanges present a user-friendly interface that suits varying user preferences.
• Liquidity: Higher liquidity ensures quicker trades, which is essential amid the crypto market volatility. The listed exchanges here have impressive liquidity, which makes them an option that is already preferred over the others.
• Coin Selection: The exchanges offer a wide selection of cryptocurrencies to match the users’ investment goals.
• Reputation: The exchanges have been thoroughly researched for user reviews and testimonials to analyze their reliability.

Additional Features: Some exchanges offer unique features like staking, margin trading, and crypto savings accounts, making them ideal for beginners as well as experienced traders.

CoinDCX is one of the safest and most transparent cryptocurrency trading platforms in India. Beginning with the user onboarding, the platform employs security checks, including biometric verifications. It also offers self-custody wallets that users may utilize to securely transfer cryptocurrencies with a single click.

CoinSwitch is an ideal choice for beginners in the crypto market. It offers low trading fees on all Bitcoin transactions. Apart from that, the users may trade in 100+ cryptocurrencies with a minimum investment starting at just Rs.100. 

The platform has also introduced benchmark indices that help measure the performance of its Indian rupee-based crypto market.

Mudrex was founded in 2018. It focuses on long-term, less risky investments. It has a simpler and quicker investment process with support for 350+ cryptocurrencies. It also provides unique features like “Coin Sets” – expert-curated theme-based crypto baskets.

Kraken has a strong emphasis on security, with over 95% of assets stored in cold storage.

Paxful is an online peer-to-peer Bitcoin marketplace. It allows the users to buy and sell BTC directly from each other through various payment methods. The platform also employs escrow services for secure transactions.

KuCoin is renowned as “The People’s Exchange“, accessible in various countries, including India. It is a global exchange and primarily adheres to AML regulations, maintaining user and fund safety. The platform strongly focuses on community building and enforces a strict KYC process for user onboarding.

In India, cryptocurrencies operate without central authority regulation. However, there are certain exchanges and platforms that require mandatory KYC before beginning to trade or withdraw any amount.

The government charges a 30% tax on crypto gains and a 1% tax deducted at source. Furthermore, the ban of certain crypto exchanges in India, including Binance, directs towards a more regulated future for crypto in India.

In India, crypto regulations are currently uncertain. At present, there are no centralized regulations governing cryptocurrencies as a mode of payment. This leaves traders and investors to operate at their own risk. However, with a few recent developments, there is also a shift towards taxation and potential regulation for crypto in India.

The government of India has made compulsory a 30% tax on gains from cryptocurrencies. This is in effect since the Union Budget of 2022. Furthermore, this also includes a 1% tax deduction at source.

Before that though, the Cryptocurrency Bill of 2021 aimed to regulate the market and create a framework for an official digital currency issued by the Reserve Bank of India. It also seeks to prohibit private cryptocurrencies. However, certain exceptions are made to foster the underlying technology’s development.