The popularity of cryptocurrencies has led to the number of cryptocurrency exchanges in India to significantly increase. Cryptocurrency exchanges only provide a platform for exchanging digital currencies for fiat currency such as the Indian rupee (INR) or the US dollar (USD).
In this post, we explore the top seven crypto trading apps to consider in 2022 and provide comprehensive reviews.
What is a cryptocurrency Trading App?
Trading cryptocurrencies involves buying and selling cryptocurrencies in order to make a profit. Cryptocurrencies have their own digital currency exchange where people can exchange coin, similarly to how conventional currencies have a foreign exchange. Cryptocurrency trading is a 24-hour market, unlike the traditional stock exchange, that closes at the end of the day.
7 Best cryptocurrency app in India
1 – Binance
Founded in 2017, Binance is a centralized cryptocurrency exchange. By trading volume, Binance is the largest crypto exchange in the world, and its platform allows users to trade over 365 different cryptocurrencies.
Users of Binance can store cryptocurrency in a free app called Trust Wallet, which is an official wallet. Users can, however, want to use their personal wallets.
Best Features
- For crypto to crypto trading pairs, over 500 cryptocurrency and tokens are supported.
- Through Simplex and other third-party platforms, credit cards and wire transfers are supported.
- Lower fees when using BNB platform token to pay for gas.
- Peer-to-peer crypto-to-crypto trades supported. Additionally, users can trade crypto for fiat with each other and pay using a variety of payment methods.
Pros
- There are more than 50 cryptocurrencies available.
- low trading fees.
Cons
- Not available in seven U.S. states.
- fewer crypto-to-crypto currency pairs than the global Binance website.
Trading Charges
The platform fee for trading on Binance is 0.10%, and the fee for Instant Buy/Sell is 0.50%.
Website Link
3 – CoinDCX
CoinDCX, a company that specialises in crypto-enabled financial services and acts as a cryptocurrency trading client, was founded in 2018 and has its headquarters in Mumbai. It intends to make cryptocurrency access to Indians.
Best Features
- quick account verification
- 95% cold storage policy
- supports more than 100 cryptocurrencies
Pros
- for spot and margin, significant leverage
- simple and functional TradingView terminal
- high level of security
- funds kept in cold storage
Cons
- In the range of fiats, only Indian Rupees are represented.
- There are no demo accounts available.
Trading Charges
The trading charges for both buying and selling cryptos on the CoinDCX Liquidity Services Desk is 0.1% of the total transaction amount.
Website Link
3 – WazirX
With an advanced trading interface and features to buy, sell, and trade cryptocurrencies, WazirX is India’s Most Trusted Bitcoin and Cryptocurrency Exchange. It is an exchange which features a Live Open Order Book system that allows you to trade digital assets like Bitcoin, Bitcoin Cash, Litecoin, Dash, and many more.
In addition to securely storing your digital assets in your WazirX wallet, you can quickly and easily deposit cryptocurrencies and cash in/out USDT via P2P.
Best Features
- Supports more than 50 cryptocurrencies
- Account verification in 2-4 hours
- Start with as little as $100.
- Lowest trading fees in the industry
Pros
- Rewards for referring users
- Auto-matching P2P platform with high liquidity
- The presence of the Smart Token Funds (STF) marketplace helps novice traders in maintaining profitability
Cons
- Restrictions on P2P trade volume and fiat deposits
- Users can only use Fiat Deposit in 8 countries.
- No futures trading is allowed on the exchange.
Trading Charges
WazirX uses a maker-taker trading fee model on our exchange, with order makers a fee of 0.1% and order takers a fee of 0.25%.
Website Link
4 – Coinswitch
With millions of users and more than 500 employees, CoinSwitch is currently the largest crypto app in India. A cryptocurrency exchange platform CoinSwitch Kuber allows users in India to instantaneously trade at the best rate after completing the KYC/AML procedures. The CoinSwitch Kuber app provides you a seamless user experience through a simplistic user interface, making it the best cryptocurrency trading platform.
Best Features
- Zero trading costs
- powerful mobile app
- start with as little as $100
- supports more than 80 cryptocurrencies
Pros
- Its user-friendly interface makes it simple to use for both experienced investors and beginners.
- It offers the ability to evaluate and identify the best exchange rate from the best exchanges.
- fast and simple to use
Cons
- Fiat deposits are not accepted
- Hidden charges
- Lack of regulation
Trading Charges
Depending on the exchange you use for your transaction, CoinSwitch charges a fee of 0% to 0.49%.
Website Link
5 – Unocoin
One of India’s oldest cryptocurrency exchanges is Unocoin. A mobile wallet, Unocoin provides users with the ability to buy, trade, store, use, and accept bitcoins. Users have the option of printing paper wallets, importing bitcoin addresses in their address books, and withdrawing bitcoins to their paper wallets.
Best Features
- high trading costs
- high withdrawal fees
- India’s oldest crypto exchange
Pros
- extremely simple to use and navigate
- high liquidity
- Bitcoins held in cold storage
- Program for recommendations
Cons
- Limited options and slow customer service
- Bitcoin is the only digital asset.
- The verification procedure is time-consuming.
Trading Charges
For buying or selling bitcoin, Unocoin charges a 0.5% fee.
Website Link
6 – Bitbns
Bitbns is a part of the parent organization, Buyhatke Internet Pvt. Ltd., which was incorporated in 2015. With 394+ cryptocurrencies listed at the present, Like no other cryptocurrency exchange, Bitbns makes it simple for users to buy and sell cryptocurrencies at the best prices. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Neo (NEO), and other popular cryptocurrencies can be traded on Bitbns.
Best Features
- supports 10 cryptocurrencies
- designed for newcomers
- Instant deposits
- 95% cold storage policy
Pros
- There is availability of all popularly used coins and tokens.
- regularly updated investment portfolio
- integrated automated trading service
- training system for novice traders
Cons
- no mobile trading
- The range of fiats only represents Indian rupees.
Trading Charges
The Bitbns user can trade with a flat trading fee of 0.25% if they have BNS (Bitbns Token) worth USD 25.
Website Link
7 – Krypto
An exchange and payment platform for cryptocurrency is Krypto. The platform allows users to exchange, buy, sell, and pay for goods and services with cryptocurrency to anyone, anywhere, at any time. Krypto aims to be the one-stop solution for all its customers’ crypto needs.
Best Features
- available in the digital environment
- Using a Decentralized Network to conduct business
- a part of peer-to-peer network
- Keep Transactions’ Anonymity
Pros
- protection from inflation
- self-governed and managed
- cost-effective method of transaction
Cons
- high energy consumption
- high energy consumption
- Buying NFTs with additional tokens
Trading Charges
Depending on whether you’re a buyer or seller, the most of cryptocurrency exchanges charge between 0% and 1.5% per trade.
Website Link
What factors to consider while selecting a trading app?
- User-Friendly Interface
Being user-friendly means being able to immediately place orders and close trades. This could refer to stop-loss management and one-click trading features. When considering the user – friendliness of each platform, you should also take limits and other order types into account.
Excellent platforms also provide extra charts and tools that are rather easy to access and understand. They have simple navigation features that even new traders can easily understand, and they are optimized for quick opening.
- Average Trading Costs
You should be aware at this point that nothing in this world is free. As a result, you should be willing to pay some fees for every trade you make using the trading platform. It is also worth noting that various platforms each have their own unique rules and guidelines.
Trading charges on different platforms varies because of this.
- Automatic Trading
Automatic trading features are not available on all platforms. Some trading platforms have algorithms that suggest the best investments to traders.
Other platforms allow users create their own algorithms, that can place orders automatically when certain preloaded requirements are met. Of course, you must confirm that these suggestions are accurate by double-checking it. Only then should you allow the platform permission to invest your funds for you at the amounts you specify.
- Security
One of the most essential factors to take into account when choosing between trading platforms is security. It is critical, especially for traders who take trading seriously and want to invest a significant amount of money into it.
As a result, you must secure your money and payments if you want to have any chance of being a successful trader. Also worth checking are the platform’s licencing and terms and conditions.
The trading platform needs permission from a financial body to operate. When trading the markets, using a faulty or unregulated platform can result in significant losses.
- Reliability
You should choose a web-based (Java) application or a desktop application depending on the software and hardware characteristics of your device.
Naturally, you also want a platform that won’t crash or freeze while you’re trading, especially when there are significant changes in the world economy and traders are looking for stability. As a result, reliability of your trading platform is a bigger concern than most traders admit.
Conclusion
In this article, Seven of India’s top crypto trading apps have been shown. Each of these distinguishes from other crypto trading apps due to distinctive features. We’ve covered WazirX, CoinSwitch Kuber, Unocoin, Binance, Bitbns, Krypto, and CoinDCX. Hopefully, this post has given you some information about the best app to use for crypto trading.
FAQ
Which Indian Crypto Exchange Has The Lowest Fees?
CoinDCX, the crypto exchange in India with the lowest fees, charges a 0.04% takers’ fee and a 0.06% makers’ fee. In contrast to current industry standards, which are 0.10% for takers and 0.15% for makers, it charges low fees. A high withdrawal fee, however, negates out this low crypto trading fee.
What’s The Safest Crypto Wallet In India?
Coinbase Wallet
It is available as an app for Android or iOS, has an easy-to-use interface, and is fully integrated with the company’ exchange, making it simple to conduct transactions, including purchasing coins and tokens with fiat currency.
What’s The Best Crypto Exchange For Day Trading In India?
- WazirX
- CoinDCX
- CoinSwitchKuber
- UnoCoin
Is Cryptocurrency Legal In India?
India has levied a 30% tax on crypto investors as well as a 1% TDS on all intra-crypto trades. Indian authorities have not yet legalized or regulated cryptos.
