Best platform to buy cryptocurrencies India 2021
The extraordinary power of digital goods
The cryptocurrency itself has only been around since 2009. Since its introduction, countless new coins have appeared, adding to the long list of options currently available. This has created a lot of interest in trading cryptocurrencies, the prices of which rise and fall dramatically on the market.
In the early days of cryptocurrency, the values of the various currencies, especially bitcoin, fluctuated in all directions. Since they are purely digital assets, no direct value could be assigned to them. This meant that their prices fluctuated wildly in the early years. Although this market still has potential for large movements, it has calmed down somewhat in recent years.
The more stable currencies have led to even more traders taking an interest in the market. One of the most popular ways to do this is through trading. In these cases, traders exchange one asset for another through the market and hold them for a long time to profit from the moving values. Not surprisingly, this has led to an increase in the number of new exchanges around the world.
As the market adapts, the exchanges available to you change as well.
What is a crypto exchange?
To review an exchange, you should know how it generally works.
A crypto exchange is a platform where you can exchange one cryptocurrency for another. Most exchanges also allow you to exchange your digital assets for other types of assets like regular fiat currencies.
Basically, the process is simple enough to understand. Just connect to one of these platforms, enter the currency and the amount you have and want to trade, and start trading. You'll be dealing with real people and exchanging real assets with them. You can then trade the new assets with other people or hold them until their value increases.
These digital currencies behave just like other commodities on the market. They are traded at a fair market value, which is influenced by a variety of external factors, primarily supply and demand. Since cryptocurrencies have no real value, prices are largely influenced by these external factors.
To fund your account at a crypto exchange, you need a crypto wallet. This is where you store your own coins and then you can take them to the exchange market. You can fill this wallet with any coin that is accepted on the exchange, mostly some kind of crypto. For this reason, most major exchanges offer crypto wallets through their own system to help users protect their funds.
Once you have loaded this amount into the exchange, you enter either a buy or sell order into the system. This is commonly referred to as an order book. This is where all buy and sell orders are published so that other traders can check what happened. It is essentially a service that brings interested parties together. When one side sees a buy or sell order that they want to participate in, they place that order. Each exchange will run its market in a slightly different way.
Factors affecting the value of crypto
Digital assets are not based on a tangible resource and have a volatile value.
Before you jump into the major cryptocurrency exchanges, you should take some time to analyze which factors have the biggest impact on cryptocurrencies. While this list can never be exhaustive, it is beneficial to learn more about how these values can change.
- 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.
For Bitcoin, the maximum possible number of coins that can be minted is 21 million. This is a low number for a coin and an important reason why it is so highly valued. When this limit is reached, which will be very soon, there will be fluctuations as coin owners consider what will happen when no more coins are 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 depends on other factors, such as the general benefits that each currency offers and the regulations that affect the different currencies. Knowing how much interest there is in these currencies will help you predict how much demand will affect the 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, the use of these currencies may be restricted by regulations. This will understandably affect the demand for these assets as they lose some of their real value. The integration of cryptocurrencies will continue to change and grow, attracting and depressing 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 more factors that affect the value of these assets, so keep these in mind
There are many crypto exchanges today, and it's harder than ever to choose. Each exchange has a similar offering, but with its own unique composition. Understanding what to expect from some of the best options will help you find the one that best suits your way of trading.
A big part of a good crypto exchange is the level of security it offers its customers. This is especially important in an online environment, which is the vast majority of them. How different exchanges handle this is a good indicator of how reliable they are and what you can trust.
Your market environment can be an important factor in your 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 trustworthy. They offer two different accounts, a standard and a pro version.
Coinbase has pretty high fees unless you use the professional account. This professional account also offers more charting options and even some comprehensive indicators that track subtle changes in the market. They offer a number of different cryptocurrencies, but there is a good selection available.
Despite the variety they offer, there are other exchanges that offer even more variety than this one. The Coinbase system is intuitive to use, so even new users can find their way around relatively easily. There are also insurance policies that are provided to customers to protect their crypto wallets.
Overall, this is certainly a comprehensive crypto 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 for working with crypto.
|Cryptocurrencies||23 types of digital currencies;|
|Commissions and fees||For all transactions under $200, the following interest rates apply:$0.99 - for transactions under $10;$1.49 - for transactions from $10 to $25;$1.99 - for transactions from $25 to $50;$2.99 - for transactions from $50 to $200.For transactions over $200, a fixed interest rate comes into play. Its size depends on the payment method;|
|Wallet||Free mobile and online. The advantage of this wallet is that transactions can be made outside the block;|
|Payment method||You can make deposits and withdrawals with a bank card, by bank transfer and with a number of payment systems. SEPA transfers are available for EU citizens;|
|Security||Two-factor authentication; All website traffic is encrypted using SSL cryptographic protocol; All wallet keys are protected by AES-256 encryption; Only 2% of your customers' cryptocurrency funds are stored online and are insured in case of loss;|
|Mobile application||Mobile applications for Android and iOS.|
This crypto exchange has been around since 2017, and since it is a relatively new company, it has managed to significantly expand its offer. Perhaps the main attraction of this exchange is that it has deliberately focused its offer on a wide range of different cryptocurrencies, including over 150 options. There are even some options for fiat currencies, but these are significantly more limited than the existing cryptocurrencies.
Binance has become one of the biggest names in the global exchange arena, with huge volumes traded every day. The diversity of assets and low fees have made it more than competitive globally. This has led to a substantial user base and the company continues to grow at an impressive rate.
Users can make deposits using cryptocurrencies or a handful of fiat currencies that Binance allows. This is an often underestimated benefit that provides easier access for users around the world. Perhaps the only real downside to this exchange is that it is a bit more complicated in structure than some other exchanges, and is perhaps best suited for those who have experience with crypto systems like these.
|Cryptocurrencies||740 different crypto and fiat pairs, including the BNB token itself;|
|Commissions and fees||Binance offers competitive trading fees (commissions): 0.1% on each side of the trade or 0.075% when using your Binance (BNB) tokens;|
|Wallet||Trust Wallet mobile application;|
|Payment method||Bank transfer, debit/credit cards, various P2P payment channels;|
|Security||The exchange has launched the CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts, and regulatory compliance firms. It is the first comprehensive tool to monitor and protect against threats in a decentralized data exchange environment;|
|Mobile application||A free app is available in the Google Play Store or the App Store.|
The Kraken crypto exchange was founded in 2011. After its relatively early start, this group quickly became one of the most popular exchanges on the Euro market. They are very reasonably priced and offer a good mix of altcoins and fiat currencies to trade. This offering may not be their strongest feature, but they do offer other resources to help you out.
The features that Kraken offers include impressive graphical tools and even margin trading. This exchange is also aimed at experienced users and its interface may seem complicated to beginners. This may be the exchange to switch to once you understand more about the experience and how to manage these trades.
This is definitely a high-end wallet with all the important features to support even the most advanced users. One notable downside is that there aren't that many payment options that you can use to fund your account. While there are ways around this, it is still a drawback for some.
|Cryptocurrencies||8 tokens are available for trading;|
|Commissions and fees||For transactions below 50,000 units of a given currency, a commission of 0.16% is charged to the seller and 0.26% to the buyer. For amounts above 50,000 units, the commissions are reduced to 0.14% and 0.24% respectively;|
|Wallet||No crypto wallet is offered on the website;|
|Payment method||Crypto wallets and money transfers via bank transfer. Deposits/withdrawals via bank cards are not possible;|
|Security||The exchange offers users two-factor authentication (2FA), PGP encryption, and a global settings lock that prevents account changes within a certain time period;|
|Mobile application||Kraken Pro and Kraken Futures trading applications.|
Around the same time as many other exchanges, Bittrex was first introduced in 2014. Perhaps the biggest advantage this exchange offers its users is the wide range of different assets they can trade. This allows for an important diversification of their market strategies.
Like many of the leading crypto exchanges, Bittrex has wallets connected to the system that can be used to safely store any currency. They also have extensive security features and technologically advanced software that protect these online wallets and the platform itself.
|Cryptocurrencies||More than 250 trading pairs are available;|
|Commissions and fees||Fiat Withdrawals to a bank account are possible with an international wire transfer, and for Euros a SEPA is supported.The withdrawal fee depends on the selected cryptocurrency: in Bitcoin it is 0.0005 BTC, in Ethereum - 0.00600000 ETH. The website has a fixed trading fee of 0.25% of the total value of the order;|
|Wallet||No cryptographic wallet;|
|Payment method||Banküberweisungen, Kredit-/Debit Karten;|
|Security||Two-factor authentication (2FA); IP verification requiring email confirmation of entering a new IP address; IP whitelisting; Cold storage for 80%-90% of goods;|
|Mobile application||There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.|
Bitmex was founded in 2014 and has grown rapidly thanks to its enticing margin trading offers. They offer both open-ended contracts and futures, the latter being more similar to binary trading than regular trading. For futures, they also offer leverage, which allows you to both make money quickly and lose it all quickly. This environment is perhaps more suitable for more experienced users.
Bitmex offers good security, but the registration process is almost too simple. This is a reasonable trade-off between added convenience and some additional risk. Overall, this crypto exchange has become a popular option, especially for margin trading.
|Cryptocurrencies||55 trading pairs;|
|Commissions and fees||BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin Network commissions are applied; Trading commissions for buyers are 0.075% of the total order value, while manufacturers receive an additional 0.025% for each transaction;|
|Portfolio||BitMEX crypto wallet;|
|Payment method||Apart from cryptocurrencies, BitMEX does not accept any other deposits;|
|Security||Funds are stored in cold wallets; Two-factor authentication;Registration via SMS notifications; Multi signature Wallets for transactions; Email communication is encrypted with PGP encryption;|
|Mobile application||BitMEX Mobile will launch in September 2020.|
It was founded at the end of 2012 and is one of the very first crypto exchanges. The company has been a trendsetter from the very beginning and is now known for the trading spread that it offers to its users. The leverage they offer here allows for significant investments in the market. Like all margin exchanges, this can be a risky venture, but if you trade well, it can be very rewarding.
Bitfinex doesn't have the largest number of assets that can be traded, but they do have some options for fiat currencies that they introduced in 2015 to bring some variety to their crypto 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||No additional payments for deposits and withdrawals in digital currencies. When depositing USD, you have to pay a commission of 0.1%, but not less than $20;The minimum fee for withdrawing fiat money is $60;With a minimum turnover of foreign exchange per month, the trading fee is 0.1% for the maker and 0.2% for the taker;|
|Portfolio||Users have three wallets to choose from - Exchange Wallet, Margin Wallet and Financing Wallet;|
|Payment method||In addition to cryptocurrencies, users can also make bank transfers and cash withdrawals on the card;|
|Security||Only 0.5% of crypto assets are held online to support daily transactions. The rest of the coins are stored in cold wallets out of reach of hackers. Manual approval by multiple members of the management team is required for these wallets to become available;|
Another crypto exchange, Localbitcoins, started back in 2012. This is a unique exchange service that does not focus on volume trading, but operates as a peer-to-peer (P2P) service. This means that while they operate globally, their users have traditionally been more local trading experiences.
On this platform you can meet other traders and trade their trades. They provide an escrow account to facilitate these trades and maintain strict portfolios for their members. This creates a trusting environment, especially for newer traders who are not yet interested in high trading volumes. The exchange rates at Localbitcoins can be a bit high compared to other options.
|Commissions and fees||The service does not charge commission to the buyer. For sellers there is a flat commission of 1% on each sale.|
|Payment method||Bank transfers, bank cards, electronic systems;|
|Security||The security of transactions is ensured by the escrow method, which has proven to be extremely effective; user accounts are protected by two-factor authentication.|
Since 2014, Poloniex has thrived in its role as a crypto exchange. It offers over 100 crypto pairs and a secure environment where users can manage their transactions. Fees are also relatively low, with certain factors influencing these costs. One such factor is trading volume, with higher volume rewarded with lower fees.
They also share the fee for makers and buyers in the market. A maker creates the position and a taker closes it. Makers have fewer fees, which will likely result in more positions available for other users. There are also other features to help users navigate the platform, from live chat boxes to data analysis tools.
|Cryptocurrencies||More than 100 currency pairs;|
|Commissions and fees||All deposits are possible without additional fees;Withdrawal fee is fixed and depends on the type of cryptocurrency;Trading commission is 0 to 0.25%; Manufacturer commission is 0 to 0.15%; Borrower commission is 0.1 to 0.25%;The higher the volume of transactions completed in a month, the lower the commission for all transactions completed thereafter;|
|Payment method||Topping up an account with a bank card or withdrawing to a card is not possible for users in some countries;|
|Security||The administration strongly recommends that you add two-factor authentication to your account;|
|Mobile application||Available at.|
Kucoin is a Singapore-based exchange that was only founded in 2017. Compared to many of the top platforms, it is a young company. Nevertheless, the developers behind this company certainly have no shortage of experience in the field of cryptocurrencies and demonstrate this expertise in their platform. As a result, it has grown quickly and is now used in several countries around the world.
As for security, Kucoin says that they use systems that are equal to those used by banks and create an environment that is protected at the highest level. This is done through extensive encryption and multi-level authentication. While this is impressive, it is perhaps too early in the career of this young crypto exchange to say how secure it all is.
|Cryptocurrencies||More than 200 currencies and over 450 trading pairs;|
|Commissions and fees||All deposits are free on the site and there is a flat fee for withdrawals. KuCoin offers a flat trading commission of 0.10%, which is lower than the industry average;|
|Wallet||Internal cryptographic wallet of the website;|
|Payment method||A variety of payment methods supported by P2P fiat services;|
|Security||The exchange gives you the option to set up two-factor authentication through Google Authenticator;|
|Mobile application||Available at.|
They have a range of contact options for their support team and in a selection of different languages. With companies that have not been on the market as long as many of the others, there is still some risk. However, the longer Kucoin goes without dramatic incidents or security breaches, the more trust it will build with traders everywhere.
This is an Austria-based exchange that started in 2014. It was originally called Coinimal, but has since been renamed Bitpanda. Their whole mission is to make crypto trading as easy as possible for everyone. They use an intuitive platform with easy access and navigation. Whatever you do, it seems to work, as they currently have over a million users.
While the focus is on cryptocurrencies, Bitpanda also offers trading in certain metals like silver and gold. They also have various tools and features that make buying cryptocurrencies even easier. This includes a fully automated trading platform. You can trade cryptocurrencies and metals, all with the assurance that they are secured by Switzerland.
Apart from that, Bitpanda has many other branches that open interesting sides of the market to discover. These help with better savings, trading at a higher volume, and even come with their own Bitpanda tokens. Just like other in-house tokens, these can be used for various benefits such as reduced fees when trading. The fees for this exchange are relatively low.
|Cryptocurrencies||Bitcoin, Ethereum and over 30 digital assets;|
|Commissions and fees||The commission for the trading service depends on the type of currency and the type of transaction. When buying bitcoins you pay 1.49%, when selling - 1.29%; the commission for replenishment and withdrawal is fixed for each currency and is deducted from the account;|
|Wallet||Bitpanda crypto wallet;|
|Payment method||You can make a deposit by bank transfer, credit card or electronic payment system;|
|Security||Bitpanda refers to systems that independently manage 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; authentication and validation via email;|
CoinMama is another good exchange. This company, which started in 2013 during the golden age of crypto exchanges, has used its experience to its advantage. It's important to note that while it's still technically an exchange, there is no actual exchange available. Instead, you buy and sell cryptocurrencies at and from Coinmama itself.
They offer a decent selection of payment methods and services. Also, there are high limits for Bitcoin purchases with credit or debit cards. These high limits come with comparable fees. The platform itself is multilingual as it addresses a large global market.
|Cryptocurrencies||A plataforma vende Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos und EOS;|
|Commissions and fees||There is a 5% service fee when using credit or debit cards. In addition, the platform charges 3.90% for the purchase of coins and 0.9% for their sale;|
|Payment method||Credit/debit cards and bank transfers; supports SEPA and SWIFT payments;|
|Security||Coinmama is a reputable company with a secure website that uses Trust Guard and Comodo technologies. Both services have confirmed that 256-bit SSL encryption is actively used on pages containing personal data;|
This is another exchange that is great for beginners due to its intuitive interface and global reputation. One downside is that users have to have their own crypto wallets. This is not a bad thing, just a bit more inconvenient, especially for new users. Another factor to consider is the fact that the support available is not as good as other providers.
This exchange was established in the United States in 2015. The first thing you should know about this platform is that it serves as many countries as possible, mainly in Europe and the United States. This system, which calls itself the "Uber" of crypto exchanges, has a very simple model. The security is of good quality and the respective fees for using their services are quite low.
The main feature of Paxful is that it is another P2P exchange. Each trader on the platform develops their own portfolio with the information about their respective trades. This way you can check who you are trading with and make sure that they are a trustworthy candidate.
The biggest drawback is that merchants on this platform 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 fees, but there is a flat 1% fee for each sale. Even with all the payment services that Paxful accepts, the more obscure ones will likely have higher fees in the form of reduced conversion rates for Bitcoins.
|Cryptocurrencies||Bitcoin und Tether;|
|Commissions and fees||Commissions are charged for crypto sales:0.5% for bank transfers;1% for bank cards and electronic payments;3-5% for gift cards;No commission is charged for cryptocurrency purchases;Paxful charges a transfer fee for sending funds to an external wallet.$0 - $9.99 = 0.0001 BTC $10 - $19.99 = 0.0002 BTC Over $20 = 0.0005 BTC;|
|Portfolio||The Paxful Wallet app makes it easy to store and manage coins with their mobile cryptocurrency wallet;|
|Payment method||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, escrow and mandatory verification procedure when working with large volumes;|
|Mobile application||Paxful wallet for Android and iOS.|
Denmark-based HitBTC entered the market in 2013. The main focus of this exchange is the sheer number of assets available to its clients. According to reports, there are over 800 pairs that you can trade. This allows you to trade some of the most obscure and lesser-known cryptocurrencies in the world. It's ideal for diversifying your investments and benefiting from small increases between them.
They offer a demo account to test the platform and various other features to make the market even more exciting. One of the most important features that this exchange says it has worked hard on is the security of its customers. This is, of course, an essential part of any online trading experience. They have high liquidity and allow trading with large volumes.
HitBTC only allows you to deposit certain cryptocurrencies and does not accept fiat options for them. However, they do offer an integrated system that allows you to buy and deposit these cryptocurrencies with debit or credit cards. Overall, this is a highly rated exchange, and for good reason.
|Cryptocurrencies||800 currency pairs are traded on the platform today;|
|Commissions and fees||No commissions for deposits and a fixed commission for withdrawals, depending on the currency;HitBTC uses a multi-level system to calculate trading fees. The more a user trades, the lower your commission;|
|Portfolio||No crypto wallet;|
|Payment method||The HitBTC exchange can be replenished with digital currency only;|
|Security||The platform offers 2-factor authentication, high-quality encryption technology and cold storage of funds;|
There are many good crypto exchanges on the internet. We hope you now know what some of these platforms offer and which one is best for you.