Bitcoin is gathering popularity in India because of its legal status. However, there are still many websites providing bitcoins and altcoins trading services, but only a few websites are listed are the most trustworthy category in terms of their ease of use and popularity.
Cryptocurrency exchanges work in a similar way to the stock market where an investor can buy, sell or hold the cryptocurrencies.
In India, the government is taking various steps to monitor transactions in cryptocurrencies, since it is difficult for them to trace the movement of funds.
Note that investing in virtual currencies like Bitcoin, Ethereum, and Mon-roe falls in a grey area in India. Before making any transactions, we need to wait to see how the government treats crypto-currency investments.
Here are some of India’s cryptocurrency exchanges that have gained prominence:
WazirX is India’s most successful crypto exchange, which started trading on 8 March and aims to become India’s most trustworthy cryptocurrency exchange. The platform provides its customers with peer-to-peer transaction capabilities and manages a technology that is capable of processing millions of transactions and can scale up the framework to satisfy rising demands.
WazirX provides a smooth and efficient trading experience across all platforms-web, Android & iOS mobile, Windows, and Mac applications. The exchange has an innovative KYC system in which identity verification takes place within a few hours of registration.
BuyUcoin is another pioneer in the crypto-currency market in India. It provides a convenient and trustworthy forum for several cryptocurrencies such as Bitcoin, Ethereum, Ethereum Classic, List, NEM, Civic, Litecoin, Bitcoin Cash, and many others to purchase, exchange.
The functionality of periodic transactions has now been introduced to Buy You Coin so that users can participate in crypto as a SIP. To stop the risk of a blanket ban on cryptos in India, BuyUcoin has created and proposed a “sandbox” system to monitor cryptocurrencies in India. To have unhackable protection, the platform stores 95% of your funds offline.
It was launched on April 7, 2018, with the goal of offering a user-friendly experience where users can access a wide variety of financial products and services enabled by industry-leading security and insurance protection processes.
Other than bank transfers, different payment strategies such as UPI and IMPS are also approved.
Bitbns is a peer-peer (P2P) sharing site to offer and take bitcoins. The P2P model allows users to purchase and sell cryptocurrency without the intervention of a third party. Bitbns lets you automate your orders with advanced tools & features. With 98+ cryptocurrencies currently listed, Bitbns allows users to purchase and sell cryptocurrencies at the best available rates and provides ease of trading like no other cryptocurrency exchange.