Cryptocurrency exchange India 2021
The extraordinary power of digital assets
The cryptocurrency itself has only been around since 2009. Since its inception, a myriad of new currencies have emerged and added to the long list of options available today. 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 cryptocurrency, the values of the various currencies, especially bitcoin, came and went. As fully digital assets, there was no direct value to attribute to them. As a result, their price fluctuations were very large 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 ways to do this is through trading. In this case, traders exchange one asset for another through the market and hold them for a period of time to profit from the change in values. Not surprisingly, this has led to an increase in the number of new exchanges available around the world.
The market is adapting, as are the exchanges offered to it.
What is a cryptocurrency exchange?
In order to review an exchange, you need to know how they usually work
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, it is a fairly simple process to understand. You just log into one of these platforms, enter the currency and the amount of money you have and want to trade and start trading. You deal with real people and trade real goods. You can then trade the new goods with other people or hold them until their value increases.
These digital currencies act much like other assets in the market. They trade at approximately their fair market value, which is affected by various external factors, primarily supply and demand. Since cryptocurrencies are unique in that they have no real-world value, prices are largely affected by these external factors.
To fund your account on a cryptocurrency exchange, you need a cryptocurrency wallet. This is where you store the coins you own and can move them around the exchange. You can fill that wallet with any coin accepted on the exchange, almost always a type of cryptocurrency. This is why most major exchanges offer cryptocurrency wallets through their own systems, which helps users protect their balances.
Once you have loaded that amount into the exchange, you place a buy or sell order in the system. This is commonly referred to as an order book. This is where all the buy and sell orders will be displayed so that other traders can check what is happening. It is essentially a service that puts interested parties in contact with each other. When a party sees a buy or sell order that they want to participate in, they place an order. Each exchange will operate its market slightly differently.
Factors affecting the value of cryptocurrencies
Digital assets are not based on a tangible resource and have a volatile value.
Before jumping into the major cryptocurrency exchanges, it is worth considering the factors that have the greatest effect 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 number of coins that can be minted is 21 million. For any coin, this is a low figure and is one of the reasons why they are so valuable. When bitcoin reaches this limit, which is very close, there will be fluctuations as owners of the coin consider what will happen when there is nothing left to 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 crypto will also 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 coins will help predict the extent to which demand will influence 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.
At other times, regulations may restrict the use of these currencies. This will naturally affect the demand for these assets as they lose some of their value in the real world. The integration of cryptocurrencies will continue to change and grow, which will drag and value 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 also other factors that influence the value of these assets, so keep these in mind
Review of exchanges
Each exchange offers similar offerings, but with its own composition. 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 offers its customers. This is especially critical in an online environment, which is where the vast majority of them are located. How these different exchanges address this issue is a good indicator of the degree of trust that can be placed in 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 keep it certified and reliable. It offers two different accounts, a standard account and a pro version.
Coinbase has fairly high commissions unless you use their pro account. This pro account also allows for more charting capabilities and even some extended indicators that track subtle changes in the market. However, they do offer a number of different cryptocurrencies, so there is a good selection available.
Despite the range they provide, there are other exchanges that offer even more variety than this one. The operation of the Coinbase system is intuitive, so even new users will be able to find their way around fairly easily. There are also insurance policies that are available to customers to help protect their cryptocurrency portfolios.
Overall, this is definitely a comprehensive crypto bag 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 cryptography.
|Cryptocurrencies||23 types of digital parts.|
|Commissions and fees||All transactions under $200 are subject to 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. The amount depends on the method of payment.|
|Portfolio||Free on mobile and online. The advantage of this wallet is that transactions can be made outside the blockchain.|
|Form of payment||Funds can be deposited and withdrawn by bank card, credit transfer and a number of 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 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 cryptocurrency exchange emerged in 2017. Being a relatively new company, they have managed to expand their offering considerably. Perhaps the main attraction of this exchange is that they have deliberately focused their offering on a wide range of different cryptocurrencies, including over 150 options. There are even some fiat currency options available, but they are significantly more limited than the cryptocurrencies present.
Binance has become one of the biggest names in global trading, with huge volumes traded every day. Their variety of assets and low commissions have made them more than competitive worldwide. This has resulted in a large user base and as a result, the company continues to grow at an impressive rate.
Users can make deposits using cryptocurrencies or the handful of fiat currencies that Binance allows. This is an often underrated advantage that facilitates access to users from all over the world. The only real drawback to this exchange is that it has a slightly more complex structure than other exchanges and is perhaps best suited for those who have experience with cryptocurrency systems such as these.
|Cryptocurrencies||740 different crypto and fiat 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);|
|Portfolio||Mobile portfolio of the fund;|
|Form of payment||Bank transfer, debit/credit cards, various P2P payment channels;|
|Security||The exchange launched the CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts and regulatory compliance firms. It is the first comprehensive threat monitoring and protection tool in a decentralized data exchange environment.|
|Mobile application||A free app is available in the Google Play store or the App Store.|
The Kraken cryptocurrency exchange was first launched in 2011. After relatively early beginnings, this group has quickly risen to become one of the most popular exchanges in the euro market. They are highly rated and offer a good mix of altcoins as well as fiat currency options to trade. This range of assets may not be their strongest feature, but they provide other resources to achieve this.
Some of the features offered by Kraken include impressive charting instruments and even margin trading. This exchange is again aimed at more experienced users and its interface may seem complicated for beginners. This may be the exchange you move to once you have a better understanding of the experience and how to manage these trades.
This is certainly a high-end exchange with all the important features to support its more advanced users. One notable drawback is that there are not as many payment options available that you can use to make deposits into your account. There are ways around this, but for some it is still a drawback.
|Cryptocurrencies||There are 8 tokens available for trading;|
|Commissions and fees||Transactions of less than 50,000 units of a given 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;|
|Portfolio||No cryptocurrency wallets are offered on the site;|
|Form of payment||Cryptocurrency wallets and wire transfer money transfers. Deposit/withdrawal by credit card is not possible;|
|Security||The exchange offers users two-factor authentication (2FA), PGP encryption and global configuration lock, which prevents changes to the account for a certain period of time;|
|Mobile application||Kraken Pro and Kraken Futures trading applications.|
Starting 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 significant diversification of their strategies in the market.
Like many of the best cryptocurrency exchange options, Bittrex has wallets attached to their system that can be used for secure storage of any currency. They also have extensive security features and technologically advanced software that will protect these online wallets and the platform itself.
|Cryptocurrencies||More than 250 trading pairs are available;|
|Commissions and fees||Topping up your account in euros is possible by means of: a SEPA transfer an international bank transfer a bank card.Withdrawal of funds in Fiat is possible on a bank account via an international bank transfer, and for euros, a SEPA transfer is handled.The withdrawal fee depends on the chosen cryptocurrency: in bitcoin it is 0.0005 BTC, in Ethereum 0.00600000 ETH. The site applies a fixed transaction fee of 0.25% of the total order value;|
|Portfolio||No cryptographic wallet;|
|Form of payment||Bank transfers, credit/debit cards;|
|Security||Two-factor authentication (2FA); IP verification requiring email confirmation of new IP address entry; IP whitelisting; cold storage for 80-90% of assets;|
|Mobile application||There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.|
Bitmex started in 2014 and has grown rapidly with their enticing margin trading offerings. They offer both perpetual and futures contracts, with the latter being more akin to binary trading than regular trading. 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 offers good security, but its registration process is almost too simple. It is a justifiable trade-off between added convenience and some added risk. Overall, this cryptocurrency exchange has become a popular choice, especially for margin trading.
|Cryptocurrencies||55 commercial pairs;|
|Commissions and fees||BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin A network fee applies; Trading fees for takers are 0.075% of the total order value, while makers receive an additional 0.025% for each transaction;|
|Cartera||BitMEX cryptocurrency portfolio|
|Form of payment||Apart from cryptocurrencies, BitMEX does not accept other deposits;|
|Security||Funds are stored in cold wallets; two-factor authentication; registration via SMS notifications; multi-signature Wallets for transactions; email communications are encrypted using PGP encryption;|
|Mobile application||BitMEX Mobile was launched in September 2020.|
Founded at the end of 2012, this cryptocurrency exchange is one of the oldest in existence. A trend setter from the beginning, it is now well known for the trading advantage it offers its users. The leverage offered here makes it possible to invest significantly in the market. Like all margin trading, it can be a risky business, but if traded well, it can be very rewarding.
Bitfinex doesn't have the largest number of assets to trade, but they do have some fiat currency options that they introduced in 2015 to add some variety to their cryptocurrency marketplace. That exchange is also available to users around the world.
|Cryptocurrencies||More than 140 pieces and 300 pairs of exchanges;|
|Commissions and fees||There is no additional fee for deposits and withdrawals in digital currencies. When depositing dollars, you will have to pay a fee of 0.1%, but not less than $20; The minimum fee for withdrawing fiat money is $60; With the minimum volume of coins per month, the transaction fee is 0.1% for the one who makes and 0.2% for the one who receives;|
|Cartera||Users can choose from three portfolios: currency portfolio, margin portfolio and fund portfolio;|
|Form of payment||In addition to cryptocurrencies, bank transfers and card cash withdrawals are available to users.|
|Security||Only 0.5% of cryptoassets are held online for daily transactions. The rest of the coins are stored in cold wallets, out of hackers' reach. To make these wallets available, manual authorization is required from several members of the administrative team;|
Another pioneer in the field of cryptocurrency trading, Localbitcoins, started in 2012. It is a unique exchange service in that, rather than focusing on volume trading, it operates as a peer-to-peer (P2P) service. This means that, although they operate globally, their users will traditionally have a more local exchange experience.
With this platform, you can meet other traders and trade your trades. They provide a deposit account to facilitate these trades and maintain strict portfolios with their members. This creates an environment of trust, especially for new traders who are not yet interested in large trading volumes. Exchange rates with Localbitcoins can be a bit high compared to other options.
|Commissions and fees||The service does not charge a commission to the buyer. For sellers, there is a flat 1% commission on each sale;|
|Form of payment||Bank transfers, bank cards, electronic systems;|
|Security||Transaction security is ensured by the escrow method, which has proven to be very effective. User accounts are protected by two-factor authentication.|
As of 2014, Poloniex has done well as a cryptocurrency exchange. Its offerings include more than 100 cryptocurrency pairs and a secure environment for users to manage their trades. Fees are also relatively low, although some factors weigh on those costs. One such factor is the volume at which it trades, as higher volumes are rewarded with lower fees.
They also share the costs for the makers and takers in the market. A maker creates the position and a taker closes it. Makers have lower fees, which should encourage other users to work with more positions. There are also other features that 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 allowed without additional fees; withdrawal fees are fixed and depend on the type of cryptocurrency; trading commissions are 0-0.25%; maker's commission is 0%-0.15%; maker's commission is 0.1%-0.25%; the higher the volume of trades made in a month, the lower the commission for all trades made thereafter;|
|Form of payment||Replenishing an account with a bank card or withdrawing money from 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 was only established in 2017. Compared to many major platforms, it is a young company. However, the creators of this company do not lack experience in the field of cryptocurrency and it shows in their platform. Thanks to this, it has grown rapidly and is now used in several countries around the world.
In terms of security, Kucoin said it employs systems similar to those of banks, creating a protected environment at the highest level. This is achieved through extensive encryption and multi-level authentication. While this is impressive, it is perhaps too early in the young cryptocurrency exchanger's career to say how secure it all is.
|Cryptocurrencies||More than 200 pieces and more than 450 pairs of exchanges;|
|Commissions and fees||All deposits are free on the site and there is a flat fee for withdrawals. KuCoin offers a flat trading fee of 0.10%, which is below the industry average;|
|Portfolio||Internal website cryptographic wallet;|
|Form of payment||A 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.|
Your support team has a number of contact options, all in a selection of different languages. With companies that haven't been around as long as others, there are always some risks. However, the longer Kucoin goes without a dramatic incident or security breach, the more trust it will gain from merchants around the world.
It is an Austrian-based exchange that started in 2014. It was originally called Coinimal, but has since changed to Bitpanda. Their mission is to make cryptocurrency trading as easy as possible for everyone. They employ an intuitive platform that is easy to access and navigate. In any case, it seems to be working, as they currently have over a million users.
Although they focus primarily on cryptocurrencies, Bitpanda also offers the ability to trade certain metals such as silver and gold. They also have several tools and features that make it even easier to buy crypto. This includes a fully automated trading platform. You can trade between cryptocurrencies and metals, safe in the knowledge that these are insured in Switzerland.
In addition, Bitpanda has many other branches that open up interesting aspects of the market to explore. These allow for better savings, higher transaction volume and even come with their own Bitpanda tokens. Like other internal tokens, they can be used for various benefits, such as reduced fees during transactions. The fees for this exchange are relatively low.
|Cryptocurrencies||Bitcoin, Ethereum and more than 30 other digital assets;|
|Commissions and fees||The commission for trading service depends on the type of currency and the nature of the transaction. When buying bitcoins, 1.49% is paid, when selling - 1.29%; the commission for resetting and withdrawal is fixed for each currency and is charged to the account;|
|Portfolio||Bitpanda cryptocurrency wallet;|
|Form of payment||You can make a deposit by bank transfer, credit card or electronic payment system;|
|Security||Bitpanda refers to systems that independently manage the keys of users' wallets. In addition, the following security measures are provided: cold storage of funds; session control. Each login attempt from a new device requires confirmation of two-factor authentication; e-mail authentication and validation;|
CoinMama is another good exchange. Having started during the golden age of cryptocurrency exchanges in 2013, this company has used its experience to its advantage. It's important to note that while technically still an exchange, there isn't really an exchange available. 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. Purchasing bitcoins with a credit or debit card also has high limits. These high limits carry a comparable cost of fees. The platform itself allows for multiple languages, as it caters to a large global market.
|Cryptocurrencies||La plataforma vende Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos y EOS;|
|Commissions and fees||The use of credit or debit cards carries a 5% service fee. In addition, the platform charges 3.90% for the purchase of coins and 0.9% for the sale;|
|Form of payment||Credit/debit cards and bank transfers; supports SEPA and SWIFT payments;|
|Security||Coinmama is a reputable company whose site is secured by Trust Guard and Comodo Technologies. Both services 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. One of the downsides is that they require users to have their own cryptocurrency wallets. This is not a bad thing, just a bit more annoying, especially for new users. Another factor to consider is that the support available is somewhat sparse, not providing as much practical help as others.
This exchange was created in 2015, based in the United States. The first thing to note about this platform is that it serves as many countries as it can, 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 respective fees for using their services are quite low.
The main feature of Paxful is that it is another P2P exchange. Each trader on their platform develops their own portfolio, with information about their respective trades. This allows you to check who you are trading with and make sure they are a reliable candidate.
The most notable drawback is that merchants only sell bitcoins on this platform. There are many different payment methods and they accept a number of currencies to buy bitcoins, but only bitcoins can be sold. There is no purchase commission, but there is a flat 1% commission on any sale. Even with all the payment services that Paxful accepts, the more obscure will likely see a higher fee in the form of reduced conversion rates for bitcoins.
|Cryptocurrencies||Bitcoin y Tether|
|Commissions and fees||Fees apply for cryptocurrency sales: 0.5% for bank transfers; 1% for bank cards and electronic payments; 3-5% for gift cards; No fee applies for cryptocurrency purchases; Paxful will charge a transfer fee to send funds to an external wallet.0 - $9.99 = 0.0001 BTC 10 - $19.99 = 0.0002 BTC Over $20 = 0.0005 BTC;|
|Cartera||The Paxful Wallet app makes it easy to store and manage coins with its 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 guaranteed by the two-factor authentication, the deposit and the mandatory verification procedure when working with large quantities;|
|Mobile application||Wallet for Android and iOS.|
HitBTC, based in Denmark, was established in 2013. The highlight of this exchange is the impressive number of assets available to its customers. There are reportedly more than 800 pairs to trade. This allows you to trade some of the most obscure and lesser-known crypto options in the world. This is ideal for diversifying investments and taking advantage of the small gains between each one.
They offer a demo account to test the platform and various other features to make the market even more exciting. The security of their customers is one of the most important features that this exchange claims to have worked on extensively. This is, of course, an essential part of any online trading experience. They have great liquidity and allow for large volumes to be traded.
HitBTC only allows you to deposit certain cryptocurrencies and does not accept any fiat options for this. However, it does offer an integrated system that allows you to purchase these cryptocurrencies for deposit using debit or credit cards. Overall, this is a highly valued exchange for a reason.
|Cryptocurrencies||Currently, 800 currency pairs are traded on the platform;|
|Commissions and fees||There is no commission for deposits and a fixed commission for withdrawals depending on the currency; HitBTC uses a tiered trading commission calculation system. The more a user trades, the lower the commission;|
|Cartera||There is no cryptocurrency portfolio;|
|Form of payment||The HitBTC exchange can be replenished exclusively with digital currency;|
|Security||The platform offers two-factor authentication, high-level encryption technology and cold storage of funds;|
There are many good cryptocurrency exchanges available online. Hopefully you now know what some of these platforms offer and which one may be the best for you.