A Cryptocurrency Exchange, also called Digital Currency Exchange, enables you to trade Digital currency or Cryptocurrencies. This Cryptocurrency Exchange offers to trade Bitcoins, Ethereum, Dogecoins, and many other Altcoins.
Digital Currency Exchange works in the same way as the stock market, where an account holder on the application can buy, sell or hold Cryptocurrency.
Cryptocurrency is gaining popularity in India, and many new people started investing last year. Investing in Cryptocurrencies is not illegal in India. You can use them to buy goods and services or as an investment, like stocks, bonds, etc.
However, buying Cryptocurrency can be a little tricky, and I have up-to-date knowledge of price forecasts as its rate and value keep changing all the time.
Some factors that will help you to choose before purchasing Cryptocurrency:
Check the company’s historical data and how long it has been running around. Know how the company has performed up till now.
See if the price is stable and what value it holds in the market. Knowing the number of people investing in a particular company would be much more helpful and easier for selling, trading, and buying in the future.
Also, make sure that your investment is secure. Most companies use blockchain technology to make transactions easy to track and clear.
4 Best Cryptocurrency Exchange Platform
Many websites provide trading services, but only a few are secure and reliable. The Cryptocurrency platforms are both free and paid software. Here are a few websites that are best in India or elsewhere:
WazirX has been India’s most successful platform for Digital Currency Exchange since 2018. The maker and taker fee is 0.2%, among the lowest in the industry. Depending on the withdrawal method, WazirX charges around 5 to 10 INR for withdrawal fees.
However, WazirX often has troubles during peak trading times, and also the company has been facing payment and server issues.
Although if you do not want to make large investments and are looking to invest in Crypto once in a while, WazirX is the best option and is great for beginners.
2. CoinSwitch Kuber
CoinSwitch Kuber, founded in 2017, is a stable and user-friendly app. Its users can access the combined liquidity of India’s leading cryptocurrency exchanges to get the best offer and trade instantaneously after finishing KYC procedures.
CoinSwitch Kuber software is the best cryptocurrency exchange, offering a smooth user experience with a clear user interface. This platform is ideal for beginners as well as daily doers.
It is a simple application that helps you start the investment safely and securely with a minimum of 100 INR.
Coinbase is not yet available in India. However, there are several ways people can still use Coinbase from India.
Coinbase is an international exchange that operates in multiple countries with the largest platform. Unexpectedly, Coinbase charges are some of the highest in the Cryptocurrency industry.
It securely stores a wide range of digital assets in offline storage.
If you want to make larger investments and do day trading, Coinbase is one of the best platforms to choose from. It provides excellent service and is a world-class Crypto Exchange if you can afford its fees. Use your international debit/credit cards to transfer funds.
Binance is one of the best Crypto exchanges that offer a platform for trading over 150 cryptocurrencies. As of April 2021, Binance was the largest cryptocurrency exchange in the world in terms of trading volume, with more than 1,400,000 transactions per second.
This online program has an Application Programming Interface (API) to combine your current trading application.
Binance is an international crypto exchange, so their withdrawal charges are higher, even if their transaction fees for crypto transactions remain lower.
However, for people who want to do high-volume trading, Binance is the better option, as it has fast servers that don’t crash as much during peak trading times. But, readers are requested to do their research before choosing a crypto exchange.