Which nation has the most cryptocurrency owners and the biggest places to get bitcoins, you ask?
Despite the government’s indecisiveness on the subject, India is home to the largest number of cryptocurrency owners worldwide.
Indians are practically reluctant to buy cryptocurrencies and have not shared their uncertainty with their lawmakers.
However, with all the useless information circulating through chat apps and social media, it’s easy to lose hard-earned cash.
Okay, stop losing now.
I have listed some of the top places to buy Bitcoin and other cryptocurrencies in India.
However, if you are unfamiliar with these specific virtual currencies, you should start with the following:
Cryptocurrency: What is it?
Cryptocurrencies are virtual currencies supported by blockchain technology. Blockchain is a decentralized database that is updated instantly with each user. It is very transparent and immutable.
Here is a more complete explanation:
Having said that, humans determine the value of any cryptocurrency. Higher prices result from more buyers. In the same vein, a selloff can destroy the value of any cryptocurrency.
According to market share, the top 5 cryptocurrencies at the moment are:
Let’s now check out the top cryptocurrency trading platforms in India.
1) Binance
P2P cryptocurrency trading is led globally by Binance. It supports a large number of cryptocurrencies. There are various currencies to invest in on this extensive site.
Binance’s native coin is called Binance coin (BNB). Additionally, there is a clear advantage if you use BNB with them.
You don’t pay a deposit on Binance.
Users are assigned VIP levels according to their trading volume. As you trade more, you increase your VIP level, and each level up results in lower trading costs.
Binance has a great reputation and exceptional versatility. However, newbies can find it intimidating because of the sheer amount of possibilities. For medium users, then, it works best.
2) Unocoin
India’s own cryptocurrency marketplace, Unocoin, allows users to buy Tether, Ether, and Bitcoin. From the start, the website feels natural and easy to navigate.
Additionally, there is a calculator on the main screen that gives you information about fees such as transaction fees, service fees, and the current price in Indian Rupees.
Unocoin is also an exchange platform with 38 cryptocurrencies. They have planned purchases that are procedures for making sporadic, modest investments. For a specified period, you can also choose to earn interest on your cryptocurrency holdings.
When buying or selling Bitcoin, there is a 0.5% transaction charge. In addition, they will add an additional 18% to each transaction as GST.
Additionally, there are no fees when trading Bitcoin with other Unocoin users. Additionally, receiving Bitcoin in your Unocoin wallet is free. Likewise, cryptocurrency to cryptocurrency trading incurs no overhead costs other than unavoidable network fees.
3) BitBns
India-based BitBns is a crypto exchange with a hint of sophistication. It supports a large number of cryptocurrencies. Before making a purchase, you can easily verify the current price, the lowest possible purchase amount and the associated costs.
Even though it can be overwhelming for newcomers, it is incredibly educational. The BitBns wallet allows you to store your cryptocurrency holdings, and it supports third-party wallets.
It is interesting to note that BitBns has its own cold wallet; however, as of this writing, it was out of stock.
There are programs that allow you to stake your cryptocurrency and earn interest. Best of all, you can buy cryptocurrency assets with as little as INR 100 to get started.
Fees associated with BitBns vary by coin, amount and trading level. Overall, this platform offers the best options to get you started with cryptocurrency. It is available as a web application or through apps for iOS and Android devices.
4) Paxful
A peer-to-peer (P2P) cryptocurrency marketplace is called Paxful. You can see different merchants creating offers to accept buyers on Paxful.
Payment options are specific to each seller. However, you will have a lot more freedom when using any form of payment.
The transaction fees Paxful pays merchants according to your chosen wallet. These amounts are lower if you use Paxful’s own wallet and vary based on transaction size.
It is interesting that cryptocurrency prices and trading restrictions are customized for Paxful vendors. With them, you can buy Tether, Ether, and Bitcoin. Although Paxful claims to make trading easy, I would only recommend it for experienced users.
5) Zebpay
One of the trusted sites for buying cryptocurrency in India is Zebpay. One can buy several cryptocurrencies, such as Bitcoin, Bitcoin Cash, Ripple, Litecoin, and others.
Zebpay encourages its users to use 98% of their storage as “cold.” In short, cold storage is very secure because it is not connected to the Internet when not in use.
If you do not trade at least once a month, there is an additional membership fee for this site. Zebpay offers up to 6% interest on cryptocurrency holdings. If you lend cryptocurrency, you will pay an additional 12% interest.
They have a wallet to hold the purchased cryptocurrency apart from the exchange platform. Zebay is a global company headquartered in Singapore.
6) CoinSwitch Kuber
India’s only mobile cryptocurrency trading platform is called CoinSwitch.
CoinSwitch Kuber allows you to buy over 80 cryptocurrencies, including Litecoin, Ethereum, and Bitcoin.
This platform can be used for just INR 100. For the Indian financial system, It offers numerous alternatives for making payments, such as bank transfers, UPI, credit and debit cards, and more.
Finally,
Please be advised that there is considerable market risk while investing in cryptocurrencies. It is only advisable for those who are willing to take significant risks and have a technical understanding of cryptocurrency.
For those who are willing to venture into the realm of cryptocurrency, the above-mentioned platforms are the most suitable.
