Best cryptocurrency trading platforms India 2021
The extraordinary power of digital assets
The cryptocurrency itself has only been around since 2009. Since its inception, several new currencies have emerged to add to the long list of available options. This has sparked a great deal of interest in cryptocurrency trading, as their prices rise and fall dramatically in the market.
In the early days of cryptocurrencies, the values of different currencies, especially bitcoin, varied widely. As fully digital assets, they could not be assigned a direct value. This meant that their price fluctuations were very high in the early years. Although there is still the potential for large movements in this market, it has stabilized somewhat in recent years.
The increased stability of currencies has made more traders interested in the market. One of the most popular methods is foreign exchange. In this case, traders exchange one asset for another in the market and hold them for a long period of time to profit from the change in values. Not surprisingly, this has led to a surge of new exchanges around the world.
As the market adapts, so do the bags available to you.
What is a cryptocurrency exchange?
To review the exchanges, it is necessary to know how they work in general
A cryptocurrency exchange is a platform that allows you to exchange one cryptocurrency for another. On most exchanges, you can also exchange your digital assets for other types of assets, such as regular fiat currencies.
Basically, the process is quite simple to understand. You just log on to one of these platforms, enter the currency and the amount you have and want to trade and start trading. You deal with real people and trade real goods. You can then trade these new assets with other people or hold them until their value increases.
These digital currencies function largely like other market assets. They trade at approximately their fair market value, which is influenced by many external factors, primarily supply and demand. Since cryptocurrency is unique in the sense that it has no real value, prices are largely influenced by these external factors.
To fund your cryptocurrency exchange account, you need a cryptocurrency wallet. This is where you store the coins you hold and can transfer to the exchange. You can fill this wallet with any coin that is accepted on the exchange, usually a type of cryptocurrency. For this reason, most major exchanges offer cryptocurrency wallets through their own system, which helps users protect their balances.
Once this amount has been loaded into the exchange, you submit a buy or sell order to the system. This is commonly referred to as the order book. All buy and sell orders are placed there so that other traders can see what is going on. It is basically a service that connects the parties involved. When a party sees a buy or sell order that it wants to be part of, it places an order. Each exchange will manage its market slightly differently.
Factors affecting the value of cryptocurrencies
Digital assets are not based on tangible assets and have a variable value.
Before jumping into the biggest cryptocurrency exchanges, it's worth taking some time to analyze what factors have the biggest impact on cryptocurrency values. While this list can never be truly exhaustive, better understanding how these values can change has its advantages.
- Limited Supply. One of the largest factors currently affecting cryptocurrency, in particular bitcoin, is a limit on the available supply. This is significant because there is a fixed limit of how many are out right now and how many more can possibly be released. Due to the way crypto is created, the release of more coins becomes increasingly more difficult the closer it gets to the maximum.
In the case of bitcoin, the maximum possible number of coins that can be minted is 21 million. This is a low figure for any coin and is a big reason why they are so highly valued. When this limit is reached, which is very close, there will be fluctuations as owners of the coin wonder what will happen when there are no more coins that can be put into circulation.
- Demand. The other side to the supply of crypto is the relative demand for that specific crypto. The more people that want to have and use cryptocurrency, the higher the value will go, if the supply stays the same. While supply is not fixed, there is an end limit and the demand will react to this as the limit gets closer.
The demand for each cryptocurrency will vary depending on other factors, such as the overall benefits provided by each and the regulations affecting the different currencies. Knowing the level of interest in these currencies will help predict the extent to which demand will affect overall value.
- Regulations. Tagging alongside the demand for crypto is the various regulations that have been created for this type of asset. In some regions, there are no regulations at all. This is because they are still relatively new forms of currency and have been less readily adopted by certain institutions. The more regulations that support these assets, the more likely their value will grow because they have more uses.
In other cases, regulations may restrict the use of these currencies. This will understandably affect the demand for these assets as they lose some of their real value. The integration of cryptocurrencies will constantly change and grow, which will attract and push value in the market in different ways.
- Media. The news and other forms of media will always influence the value of assets on the market. This is because these sources of information are often highly valued and affect the way the general public will react to these assets. This affects the demand and subsequently the value of each crypto. Media is also easy enough to follow and react to, which makes it a popular form of trying to predict these price shifts.
There are even more factors that affect the value of these assets, so pay attention to
Stock Market Overview
Today there are many cryptocurrency exchanges available and the choice is more difficult than ever. Each exchange has a similar offering, but with its own makeup. Understanding what to expect from some of the best will allow traders to find the ones that best suit the way they trade.
A big part of a good cryptocurrency exchange is the level of security it provides to its customers. This is especially important in an online environment, which is most of the time. How different exchanges handle this is a good indicator of how much you can trust and rely on them.
Your market environment can be an important factor in your overall experience and success.
Coinbase is a very popular exchange. It was founded in 2012, just a few years after the launch of Bitcoin. This exchange is mainly based in the United States and operates with all the necessary regulations that make it certified and reliable. They offer two different accounts, a standard version and a pro version.
Coinbase has quite high commissions unless you use their pro account. This pro account also allows for more charting options, and even some powerful indicators that track subtle changes in the market. However, they offer several different cryptocurrencies, so there are plenty of options.
Although they offer this range, there are other exchanges that offer even more variety. Coinbase's system is intuitive to use, so even new users will be able to navigate it with ease. Insurance policies are also available to help protect customers' cryptocurrency portfolios.
Overall, this is certainly a very comprehensive cryptocurrency exchange that offers all the necessary options, especially for new users. With all the bells and whistles included here, you can be sure that you are in a good environment to work with cryptocurrencies.
|Cryptocurrencies||23 types of digital currencies.|
|Commissions and fees||All transactions under $200 carry the following fees:$0.99 - for transactions under $10;$1.49 - for transactions between $10 and $25; $1.99 - for transactions between $25 and $50;$2.99 - for transactions between $50 and $200. For transactions over $200, a fixed interest rate comes into play. Its amount depends on the method of payment.|
|Portfel||Free on mobile and online. The advantage of this wallet is that transactions can be made out of block.|
|Form of payment||Funds can be deposited and withdrawn by bank card, wire transfer and a number of other payment systems. SEPA transfers are available for EU residents;|
|Security||Two-factor authentication; All website traffic is encrypted using SSL cryptographic protocol; All wallet keys are protected with AES-256 encryption; Only 2% of your customers' cryptocurrency funds are stored online and are insured against loss;|
|Mobile application||Mobile applications for Android and iOS.|
This cryptocurrency exchange first appeared in 2017. Being a relatively new company, they have managed to significantly increase their offer. Perhaps the main advantage of this exchange is that it has deliberately focused on a wide range of different cryptocurrencies, including more than 150 options. There are even coin options, but these are much more limited than cryptocurrencies.
Binance has become one of the biggest names in the global forex arena, where large volumes are traded on a daily basis. The variety of assets and low commissions have made it more than competitive worldwide. This has led to a significant user base and as a result, the company continues to grow and at an impressive rate.
Users can make deposits using cryptocurrencies or various fiat currencies that Binance allows. This is an often underrated advantage that serves to provide easy access to users around the world. Perhaps the only real downside to this exchange is that it has a slightly more complicated design than other exchanges, and is perhaps best suited for those who are experienced with these types of cryptocurrency systems.
|Cryptocurrencies||740 different cryptocurrency and fiat currency pairs, including BNB's own token;|
|Commissions and fees||Binance offers competitive transaction fees (commissions): 0.1% on each side of the transaction or 0.075% if you use your Binance tokens (BNB);|
|Portfel||Trust Wallet mobile application;|
|Form of payment||Bank transfer, debit/credit cards, various P2P payment channels;|
|Security||The exchange has launched the CryptoSafe Alliance (CSA). The initiative will bring together exchanges, blockchain protocols, cybersecurity experts and compliance firms. It is the first comprehensive threat monitoring and protection tool in a decentralized exchange environment.|
|Mobile application||The free app is available on the Google Play Store or App Store.|
The Kraken cryptocurrency exchange was first launched in 2011. After a relatively early start, the group quickly became one of the most popular exchanges in the euro market. They are highly rated and offer a good mix of altcoins as well as options for trading fiat currencies. This range of assets may not be their strongest point, but they offer other resources to help in this regard.
Some of the features offered by Kraken include impressive charting tools and even margin trading. This exchange is also aimed at more experienced users, and its interface may seem complicated for beginners. Perhaps this is the exchange you will move to once you have a better understanding of the experience and how to manage these trades.
This is definitely a high-end exchange with all the important features that support the most advanced users. One drawback is that there are not as many payment options that can be used to deposit into your account. There are ways around this problem, but it is still a drawback for some.
|Cryptocurrencies||There are 8 tokens available for trading;|
|Commissions and fees||Transactions of less than 50,000 units of a currency are subject to a commission of 0.16% for the seller and 0.26% for the buyer; for amounts over 50,000 units, the commissions are reduced to 0.14% and 0.24% respectively;|
|Portfel||No cryptocurrency wallet is offered on the site;|
|Form of payment||Cryptocurrency wallets and money transfers via bank. Deposit/withdrawal via bank cards is not available;|
|Security||The exchange offers users two-factor authentication (2FA), PGP encryption and a global configuration lock that prevents any changes to the account within a certain period of time;|
|Mobile application||Kraken Pro and Kraken Futures trading applications.|
Bittrex was created around the same time as many other exchanges, having first been introduced in 2014. Perhaps the biggest advantage of this exchange is the wide range of different assets that can be traded. This allows for significant diversification of your market strategy.
Like many other top cryptocurrency exchanges, Bittrex has wallets in its system that can be used to securely store any coin. It also has extensive security features and high-tech software to protect these online wallets and the platform itself.
|Cryptocurrencies||More than 250 pairs of tents are available;|
|Commissions and fees||Topping up in euros is possible through: SEPA; international bank transfer; bank card. Fiat credit. The withdrawal commission depends on the chosen cryptocurrency: in bitcoin it is 0.0005 BTC, in Ethereum - 0.00600000 ETH. The site has a fixed trading commission of 0.25% of the total value of the order;|
|Portfel||There is no cryptocurrency wallet;|
|Form of payment||Bank transfers, credit/debit cards;|
|Security||Two-factor authentication (2FA); IP verification, which requires email confirmation of entry from a new IP address;|
|Mobile application||There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.|
Bitmex started in 2014 and has grown rapidly with enticing margin trading offerings. It offers both perpetual contracts and futures, the latter being more akin to binary trading than the regular stock market. In the case of futures, they also offer leverage, which can be both a powerful way to make money quickly and a quick way to potentially lose it all. This is perhaps a more suitable environment for more experienced users.
Bitmex has good security, but its registration process is almost too simple. It is a reasonable compromise between additional convenience and some additional risk. Overall, this cryptocurrency exchange has become a popular choice, especially for margin trading.
|Cryptocurrencies||55 trading pairs;|
|Commissions and fees||BitMEX does not charge any deposit or withdrawal fee. 075% of the total order value, while creators receive an additional 0.025% on each transaction;|
|Portfel||BitMEX cryptocurrency portfolio|
|Form of payment||Apart from cryptocurrencies, BitMEX does not accept any other type of deposit;|
|Security||Funds are stored in cold wallets;Two-factor authentication;Registration via SMS notifications;Multiple signatures Email communications are encrypted using PGP encryption;|
|Mobile application||BitMEX Mobile will be launched in September 2020.|
Founded at the end of 2012, it is one of the first cryptocurrency exchanges. A trendsetter since its inception, it is now known for the hedging offers it provides to its users. Leverage makes it possible to make significant investments in the market. Like any margin trading, it can be a risky venture, but with good trading it can be very profitable.
Bitfinex does not have the largest amount of assets to trade, but it has several exchange options that it introduced in 2015 to diversify its cryptocurrency market. This exchange is also available to users from all over the world.
|Cryptocurrencies||More than 140 currencies and 300 trading pairs;|
|Commissions and fees||There are no additional commissions for deposits and withdrawals in digital currencies. When depositing dollars, you must pay a commission of 0.1%, but not less than $20;The minimum commission for withdrawing fiat money is $60;With a minimum volume of transactions per month, the trading commission is 0.1% for the creator and 0.2% for the acceptor;|
|Portfel||Users are offered three portfolios to choose from: Exchange Portfolio, Margin Portfolio and Funding Portfolio;|
|Form of payment||In addition to cryptocurrencies, bank transfers and card withdrawals are available to users;|
|Security||Only 0.5% of cryptocurrency assets are stored online to support daily transactions. The rest of the coins are stored in cold wallets out of hackers' reach. Manual authorization from several members of the management team is required to make these wallets available;|
Another cryptocurrency exchange play, Localbitcoins started in 2012. It is a unique exchange service because, rather than focusing on volume trading, it operates as a peer-to-peer (P2P) service. This means that, although it operates globally, its users have traditionally had a more local trading experience.
Through this platform you can meet other traders and trade your trades. To facilitate these transactions, you provide a deposit account and maintain accurate portfolios of your members. This creates an environment of trust, especially for novice traders who are not yet interested in trading on a large scale. Exchange rates on Localbitcoins may be slightly higher compared to other options.
|Commissions and fees||The site does not receive commission from the buyer. A commission of 1% of each sale is established for sellers.|
|Form of payment||Bank transfers, bank cards, electronic systems;|
|Security||Transaction security is provided by the escrow method, which has proven to be very effective; user accounts are protected by two-factor authentication.|
As of 2014, Poloniex has performed well as a cryptocurrency exchange. Its offering includes more than 100 cryptocurrency pairs and a secure environment for users to manage their transactions. Fees are also relatively low, with certain factors influencing these costs. One such factor is the volume traded, as higher volume is rewarded with lower fees.
Fees are also split between brokers and buyers in the market. The initiator creates the position and the taker closes it. Brokers have lower commissions, which is likely to increase the number of positions for other users. In addition, there are other features that help users as they navigate the platform, from live chat to data analysis tools.
|Cryptocurrencies||More than 100 currency pairs;|
|Commissions and fees||All deposits are allowed without any additional commission;Withdrawal commission is fixed and depends on the type of cryptocurrency;Trading commission ranges from 0 to 0.25%;Producer commission ranges from 0% to 0.15%;Receiver commission ranges from 0.1% to 0.25%;The higher the number of completed transactions in a month, the lower the commission for all completed transactions thereafter;|
|Form of payment||Topping up with a bank card or withdrawing funds to a card is not available for users in some countries;|
|Security||The administration strongly recommends that you add two-factor authentication to your account;|
|Mobile application||Available in.|
Kucoin is a Singapore-based exchange that only launched in 2017. Relative to many of the leading platforms, it is a young company. Despite this, the developers behind this company certainly have no shortage of cryptocurrency experience and demonstrate this knowledge in their platform. As a result, it has grown rapidly and is now used in several countries around the world.
In terms of security, Kucoin said it uses bank-grade systems, creating a protected environment at the highest level. This is done through extensive encryption and multi-level authentication. This is impressive, but perhaps it is too early in the career of this young cryptocurrency exchange to say how secure it all is.
|Cryptocurrencies||More than 200 currencies and more than 450 trading pairs;|
|Commissions and fees||All deposits on the site are free and there is a flat fee for withdrawals; KuCoin offers a flat trading fee of 0.10%, which is lower than the industry average.|
|Portfel||The inside of a cryptocurrency wallet;|
|Form of payment||Variety of payment methods supported by fiat P2P services;|
|Security||The Exchange offers you the possibility to set up a two-factor authentication through Google Authenticator.|
|Mobile application||Available in.|
You have several options for contacting the support team, all in different languages. Companies that have not been in business that long are at some risk. However, the longer Kucoin continues to operate without dramatic incidents or security breaches, the more confidence it inspires in traders around the world.
It is an Austrian-based exchange that was launched in 2014. It was originally called Coinimal, but has since changed to Bitpanda. Their whole mission is to make cryptocurrency trading as easy as possible for everyone. They use an intuitive platform that is easy to access and navigate. Whatever they do, it seems to be working, as they currently have over a million users.
Although their main focus is cryptocurrency, Bitpanda also offers trading in some metals, such as silver and gold. They also have several tools and features that make it even easier to buy cryptocurrencies. This includes a fully automated trading platform. You can trade both cryptocurrencies and metals, all with the security that they are backed by Switzerland.
In addition, Bitpanda has many other branches that open up interesting sides of the market to explore. They help you save better, trade in higher volumes and even have their own Bitpanda tokens. Like other internal tokens, they can be used to gain various benefits, such as reduced commissions during trades. The fees for this exchange are relatively small.
|Cryptocurrencies||Bitcoin, Ethereum and more than 30 other digital assets;|
|Commissions and fees||The commission for the trading service depends on the type of currency and the nature of the transaction. When buying bitcoin you pay 1.49%, when selling - 1.29%; the commission for reloading and withdrawal is fixed for each currency and is charged to your account;|
|Portfel||Bitpanda cryptocurrency wallet;|
|Form of payment||Payment can be made by bank transfer, credit card or electronic payment system;|
|Security||Bitpanda refers to systems that auto-generate the user's wallet keys. In addition, the following security measures are offered:Cold storage;Session control. Each login attempt from a new device requires confirmation of two-factor authentication; email authentication and validation;|
CoinMama is another good exchange. This company, which started in the golden age of cryptocurrency exchanges in 2013, has leveraged its experience to its ultimate advantage. It is important to note that while it is still technically an exchange, there is actually no exchange. Instead, you buy and sell cryptocurrencies to and from Coinmama itself.
They offer a decent range of options in terms of payment goods and services. There are also high limits associated with buying bitcoin through credit or debit cards. These high limits come at the cost of comparable fees. The platform itself allows for multiple languages, as it is designed for a large global market.
|Cryptocurrencies||Plataforma sprzedaje Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos i EOS;|
|Commissions and fees||The use of credit or debit cards carries a 5% service charge. In addition, the platform charges 3.90% for the purchase of coins and 0.9% for their sale;|
|Form of payment||Credit/debit cards and bank transfers; supports SEPA and SWIFT payments;|
|Security||Coinmama is a reputable company with a secure website using Trust Guard and Comodo technology. Both sites have confirmed that 256-bit SSL encryption is actively used on pages containing personal information;|
This is another exchange that is great for beginners because of its intuitive interface and worldwide reputation. The only downside is that they require users to have their own cryptocurrency wallets. This is not a bad thing, just a bit more cumbersome, especially for new users. Another factor to keep in mind is that their available support is a bit picky and doesn't provide as much direct help as others.
This exchange started operations in 2015, based in the United States. The first thing to note about this platform is that it serves as many countries as possible, mainly in Europe and the United States. Considering itself the "Uber" of cryptocurrency exchanges, this system has a very basic model. The security is of good quality and the fees associated with the use of its services are quite low.
The main feature of Paxful is that it is another P2P exchange. Each trader on their platform creates their own wallet, with information about their transactions. This allows you to see who you are trading with and make sure they are a credible candidate.
The most notable disadvantage is that on this platform, traders only sell bitcoin. There are many different payment methods and they accept a number of currencies that you can use to buy bitcoin, but you can only sell bitcoin. There are no purchase commissions, but there is a flat 1% commission for each sale. Even with all the payment services that Paxful accepts, for the more complicated ones, there are likely to be higher fees in the form of reduced exchange rates.
|Cryptocurrencies||Bitcoin i Tether;|
|Commissions and fees||A commission is charged for the sale of cryptocurrencies:0.5% for bank transfers;1% for bank cards and electronic payments;3-5% for gift cards;No commission is charged for the purchase of cryptocurrencies;Paxful charges a commission for transferring funds to an external wallet.$0 - $9.99 = 0.0001 BTC $10 - $19.99 = 0.0002 BTC Over $20 = 0.0005 BTC.|
|Portfel||The Paxful Wallet app makes it easy to store and manage coins with a mobile cryptocurrency wallet;|
|Form of payment||Over 300 ways to buy coins, including bank transfer, credit and debit cards, PayPal, Western Union and even Amazon, iTunes or Steam gift cards;|
|Security||The security of the system is ensured by two-factor authentication, the deposit and a mandatory verification procedure when working with large quantities.|
|Mobile application||Paxful Wallet for Android and iOS.|
HitBTC, based in Denmark, first appeared in 2013. The main feature of this exchange is the huge amount of assets available to customers. It is said that there are more than 800 pairs that you can trade on. This allows you to trade some of the most obscure and lesser-known cryptocurrencies in the world. This is great for diversifying your investments and taking advantage of the small increments between each one.
They offer a demo account to test the platform and several other features to make the market even more exciting. One of the most important features that this exchange works on is the security of their customers. Obviously, this is an important part of any online trading experience. The exchange has great liquidity and allows for a large number of trades.
HitBTC only allows you to deposit specific cryptocurrencies and does not accept any fiat options. However, it does offer an integrated system where you can purchase these cryptocurrencies for deposit using debit or credit cards. Overall, this is a highly valued exchange for good reasons.
|Cryptocurrencies||Today there are 800 currency pairs traded on the platform;|
|Commissions and fees||There is no commission on deposits and a fixed commission on withdrawals depending on the currency; HitBTC uses a multi-stage system to calculate commissions on trades. The more a user trades, the lower his commission will be;|
|Portfel||There is no cryptocurrency portfolio;|
|Form of payment||The HitBTC exchange can only be reloaded with digital currency;|
|Security||The platform offers two-factor authentication, state-of-the-art encryption technology and cold storage;|
There are many good cryptocurrency exchanges available online. Hopefully you now know what some of these platforms offer and which one may be best for you.