After several weeks of trading in narrow ranges, bitcoin breached $10,000-mark on July 27 for the first time when you consider that early June. In addition to struggling pricing blows due to the economic fallout from the covid-19 outbreak, the digital currency went via its third so-called halving on May 11, which reduce the rewards given to these who “mine” bitcoin to 6.25 new coins from 12.5. In 2018, the RBI had put a blanket ban on buying and selling in cryptocurrency. However, the order was set apart by the Supreme Court this year in March. Here is a listing of exchanges that permit trading in cryptocurrencies:
WazirX
The exchange is operated by using Finance, one of the largest cryptocurrency exchanges in the world. WazirX has received traction among Indian traders for its easy-to-use interface and less expensive structure (0.2 %), however, it has an orderbook that some new customers may find difficult to use.
Coinmama
One of the main cryptocurrency exchange platforms, Coinmama allows customers in almost every country to buy or sell bitcoin. It also affords one of the best limits for buying bitcoins with a credit card, even though the fee is slightly higher at 4.9 % – 5.9 % (depending on the volume) on each purchase.
Local Bitcoins
This peer-to-peer exchange allows people from different nations to exchange their local currencies for bitcoins. Users submit commercials on the trade stating their price and desired payment technique for buying or selling bitcoins. By replying to these advertisements, an alternate is opened and escrow safety is automatically activated. Escrow protects both consumer and seller by retaining the bitcoins safe until the payment is done and the seller releases bitcoins to the buyer. Bitcoins are placed in Local Bitcoins web wallet from where one can pay for their bitcoin purchases directly. However, investors need to be careful, as they are dealing directly with other people, unlike different stock-like exchanges or centralised bitcoin buying and selling sites.
Kraken
Founded in 2011, this US-based cryptocurrency trade is now available in most countries. Deposits can be made by way of bank wire, SEPA, ACH and SWIFT. The brokerage charged through Kraken is one of the lowest in the industry. Taker charge (order taker) is 0.25 % and can fall as low as 0.1 % with sufficient buying and selling volume. Meanwhile, maker rate (order maker) can be nil with sufficient trading volumes.
Unocoin
One of the main exchanges in India, Unocoin serves a patron base of over a million. It is a member of NASSCOM and has featured amongst the Top 20 out of 350 companies in The FinTech 20: India list. Users are also given a risk to earn free bitcoin through referring the exchange to friends and family.
ZebPay
The trade relaunched its app in India in January 2020. Users can buy and sell cryptocurrencies across 130 countries, with zero buying and selling fees. Zebpay’s app facilitates buying and selling in Ethereum, Litecoin, Ripple, EOS, and various other cryptocurrencies. Users can additionally access crypto-to-Euro and crypto-to-Australian Dollar trading.
CoinSwitch Kuber
Apart from a plethora of services it provides to customers comparable to different crypto exchanges, CoinSwitch Kuber permits customers to buy cryptocurrencies with a credit card at an effective price. Funded by using Sequoia Capital, the trade allows customers to access the pooled liquidity of the main exchanges in India to get the best charge and trade instantaneously.
