8 Best Cryptocurrency Apps in India
Best Cryptocurrency Trading App 2024 - Bybit
| App | Best For |
|---|---|
Best for novice and experienced traders |
|
Best of All |
|
Most Trustable |
|
Best for crypto-to-crypto trading |
|
Best Local Exchange |
|
Best for NFT |
|
Best Tokenized Exchange |
In this article, we analyze and compare the different cryptocurrency investing and trading applications allowed to operate in India. From features like the maker and taker fee to the number of coins offered, you can make your choice depending on your preference for features.
Best Crypto Trading Apps in India Comparison
A comparison table for the above-listed cryptocurrency applications.
| Min/Max Taker Fee | Min/Max Maker Fee | Bank Card Deposit | INR Support (Yes/NO) | Number of Coins | ||
|---|---|---|---|---|---|---|
0.1% |
0.1% |
Yes |
No |
320 |
||
0.03% |
0.015% |
Yes |
Yes |
397 |
||
0.04/0.5% |
0%/0.5% |
Yes |
No |
153 |
||
0.10%/0.26% |
0%/0.16% |
Yes |
Yes |
110 |
||
0.2% |
0.2% |
Yes |
Yes |
224 |
||
0.1%/0.4% |
0.4%/0.4% |
Yes |
No |
169 |
||
0.75% |
0.25% |
Yes |
No |
30 |
Bybit
Bybit is one of the best apps for cryptocurrency in India. This user-friendly app is the best crypto app in India for both novice and experienced traders. It also offers various services and features that both guide users to greater levels of efficiency and facilitate their level of expertise. In the past couple of years, the cryptocurrency world has experienced meaningful innovation and growth, capturing the attention of people and investors around the globe. Therefore, competition has increased. Here are the most outstanding features of Bybit to help you decide whether or not it is for you:
👍 Pros
•Bybit has up to 100 x influences on crypto: Traders could trade a position of $10,000 from a $100 investment.
•It has advanced tools sustained by great equipment: Bybit can handle 100,000 dealings per second, which is suggestively faster than its contenders.
•Bybit provides a risk-free test atmosphere to study and try out. It has a testnet site where novice traders can test approaches and practice how to use the site without using actual money.
•It also provides educational resources.
👎 Cons
•The crypto derivatives are particularly risky, so the trader could lose all their money if the bet goes wrong.
•Bybit is not suited for spot trading.
•The app may share your information with third parties for advertising.
Binance - Best of All
Photo: Binance trading app
Binance is a centralized crypto exchange that was founded in 2017. Binance is the largest global crypto exchange by trading volume, and it offers over 365 cryptocurrencies for trade on its platform.
Binance has an official wallet for its users called Trust Wallet, which is a free app used to store cryptocurrency. However, users are free to use their personal wallets.
Binance has three trading platforms; basic, advanced, and OTC for peer-to-peer trading. As a new trader, it is better to start with the basic trading platform with features like spot price, trading volume, and 24-hour price performance.
👍 Pros
•The Binance mobile app is one of the best with new updates like automating recurring buys, easier login with QR-code scanner, and switching between lite and pro versions with one click.
•On the Binance app, you can earn passive income and keep track of all your internal transactions.
👎 Cons
•Binance has faced league issues in recent times and could pose a problem.
•Binance is banned in some countries.
Coinbase – Most Trustable
Photo: Coinbase trading appp
Coinbase is a cryptocurrency platform where users can trade and invest in over 100 cryptocurrencies, including Ethereum, Bitcoin, and Cardano. Coinbase is a platform that started in 2012 to trade bitcoin. Over the years, it has grown to add over 100 tradable cryptocurrencies and above 2700 global employees. With over 73 million users, Coinbase has $255 billion in assets traded on the platform.
There are two versions of the Coinbase platform, the original Coinbase platform, and the Coinbase Pro platform. New traders and investors prefer the original Coinbase platform. In contrast, more professional and seasoned traders have access to additional features and tools. Also, users can access additional order types on the Coinbase Pro, which is available to all Coinbase users.
👍 Pros
•However, it is one of the safest exchanges with insurance on all its digital currency held online.
•The exchange stores 98% of its user's funds offline in cold storage.
•Low minimum account balance when funding.
👎 Cons
•Most users have expressed dissatisfaction with the high transaction fees on the primary coinbase platform.
•No control of private keys when you store coins in your account.
Kraken – Best for Crypto-to-Crypto trading
Photo: Kraken trading app
One of the oldest Bitcoin exchanges, Kraken, is a cryptocurrency exchange that currently supports over 92 different coins. The company was founded in San Francisco in 2011 with customers in 185 countries. Kraken is accessible to both institutional and individual investors with competitive prices.
Users can buy, sell and trade various cryptocurrencies with affordable exchange fees on Kraken. Kraken is widely known for supporting spot trading at cryptocurrency futures and current market rates.
New crypto investors should start with the main Kraken platform. At the same time, experienced traders can use the Kraken Pro platform, which is more active, has lower costs, has advanced margin and futures features.
Kraken has 130 trading pairs and offers multiple apps for both iOS and Android.
👍 Pros
•Many users have commended their customer support service. The trading platform provides live phone support on weekdays with a 24-hour web chat option.
•Also, the company provides a personal representative for their consistent traders.
•Lower costs than most exchanges.
👎 Cons
•While Kraken supports a variety of altcoins, it still lags behind many of its competitors, and many users would prefer if more coins were added.
•Another disadvantage of using Kraken is that the making Kraken platform charges higher transaction fees than the Kraken pro platform.
•Also, users have complained about losing funds due to hacks and breaches.
WazirX – Best Local Exchange
Photo: WazirX trading app
WazirX is an Indian cryptocurrency exchange that was launched in 2018. WazirX charges two types of fees, trading fees, and deposit and withdrawal fees. On WazirX, you can trade cryptocurrencies in three markets, the P2P market, STF trading, and spot market. Also, you can save 50% on fees if you pay through the WRX token, the crypto trading platform's official token .
Most cryptocurrency exchange users do so for its interactive and user-friendly interface. Also, there have been reports that making deposits and withdrawals is seamless on the crypto exchange.
WazirX has advanced trading tools for its users by integrating all features and charting tools of TradingView.
👍 Pros
•The app offers low trading fees for its users and has a mobile app for crypto trading.
•WazirX's users say the app's integration with the Binance app allows for investment into global currencies.
•The execution speed on WazirX is competitive as the crypto trading platform can handle millions of simultaneous transactions with no problems.
👎 Cons
•There are occasional complaints about delays and lack of response during peak trading hours.
Crypto.com – Best for NFT
Photo: Crypto.com trading app
Crypto.com is a cryptocurrency exchange ideal for traders and investors who need access to a wide range of cryptocurrencies. Also, users who prefer carrying our transactions on a mobile phone or any other device have found crypto.com their preferred trading platform.
Through the crypto.com app, users can buy, sell and trade over 100 popular cryptocurrencies at their real cost. Users can also earn high interest on their crypto assets; users are offered a crypto.com Visa card to manage their crypto with the possibility of making crypto payments.
👍 Pros
•Users using crypto.com's DeFi wallet have complete control of their private keys, and the wallet is non-custodial.
•Using crypto.com's Visa card gives you access to up to 8% cashback on all transactions. Also, when you deposit crypto on the app, you will earn up to 8% interest or up to 14% interest on stable coins. This interest is paid weekly and added to your deposited crypto.
•Also, the company's Crypto Credit service allows users to access crypto loans with up to 50% LTV.
•The most impressive feature on Cryto.com is the range of NFT collections offered by the app. Users can buy NFTs with their debit cards and sell their collections with a minimum bid of $0.
👎 Cons
•Higher fees unless CRO is used
•Customer support could be improved.
Currency.com – Best Tokenized Exchange
Photo: Currency.com trading app
Currency.com is a cryptocurrency exchange launched in 2019 with its headquarters in Minsk, Belarus. The crypto exchange is well known for its tokenized securities, including different cryptocurrencies like Ethereum, Bitcoin, Litecoin, etc.
The exchange charges two fees; platform fees and deposit and withdrawal fees. The platform fees can be broken into exchange fees, trading costs, funding fees, and asset management fees. Currency.com's crypto takers fee is 0.075%and its maker fee is -0.025%. Its exchange fee for cryptocurrencies is 0.2%, and funding fees depend on market rates.
👍 Pros
•The crypto exchange is safe due to its notable security features, including; 97% of its user funds being held in a cold wallet.
•It has a robust order matching engine that can handle over 50 operations per second.
•Also, currency.com is regulated by three international institutions with high-level virtual and physical security.
👎 Cons
•Not enough regulatory oversight
What to look for in a Crypto Trading App
Real-time updates
One of the features to look out for in trading apps is their ability to deliver immediate updates as the values of currencies fluctuate or as markets change. This is because you will not make urgent informed trades without real-time updates, which can lead to losses. You should ensure your mobile phone can handle live trades as most phones have been known to crash to lag during a trade.
Trading education resources
As a new trader, you should ensure you find a broker that has adequate educational and research resources. This is because most professional brokers have adequate knowledge about the trading app they use, coupled with information about market movements and market analysis. Your broker should have a wide range of articles, videos, and other resources to guide you on using their platform sufficiently.
Advanced Analytics and Tracking
In trading, you will need to stay abreast with currencies to sell or buy on a day-to-day basis. Most professional traders use this to keep up with movements in currencies and markets, and you should look out for the feature. Ensure your preferred broker has advanced analytic tools to aid your daily trading journey. With advanced analytics and tracking, you can set up alerts for currencies when they reach a particular price.
Accommodating for Experts and Beginners
The best brokers are the ones that have the resources and features to accommodate both new traders and experienced traders. As a beginner, you will need an app that will carry you along as you invest. Also, as you gain experience, you will become a seasoned trader. You will need a customer-focused app, so you don't spend resources switching trading apps when you advance in your profession.
Minimal Spreads
With spread being the difference between the bid and ask price of a currency, you will need to ensure your preferred broker has low spreads. This is because the spread is your forex broker's commission for executing a trade. Although spreads are a fraction of the unit of currency you're trading, it could mean a huge loss in profits for high-frequency traders. While you search for a trading app, it is advisable to find one that offers low spreads, as this will help reduce losses while trading.
How to Choose the Best Crypto App in India?
1. Learn regulation and reliability
Before you decide on the trading app to trade with, the first thing you have to do is learn the regulations surrounding forex trading in your country and state of residence. You should ensure you look out for trading apps regulated by your local regulator or with an internationally recognized regulator.
Another thing to consider first when shopping for a trading app is its reliability in protecting funds and the security of private information. You need an app with a history of reliability, which can be found by checking user reviews.
2. Research Trading assets
There are many trading assets and knowing that your preferred trading app offers the essential trading assets you'll need is the second step. Making a list of the trading assets you'll trade either in the short term, or long term will help you narrow down your options. Some popular trading assets include
3. Explore App's Features
The third step after narrowing down your app by trading assets is to explore the app's features. A trader is as successful as the range of functionalities available to them. Professional and profitable traders understand the importance of the features offered by their brokers. Features like charting, analytical tools, execution speed can differ between profitable trades and losses. You should screen your trading app to ensure they offer the best features in the market.
4. Try demo
As a new trader, you won't become an expert overnight, which means you have to spend some time practicing. To practice without using real funds, you need a demo account. A demo account allows you to place live trades with demo money, limiting your risk while giving you ample time to practice. You should ensure your trading app or choice has a demo account.
5. Open an account
After the four steps, the next step is to open an account with your preferred broker. Different brokers have their conditions for opening an account, and you need to know what these conditions are. Also, there are different types of trading accounts. Depending on your experience level, you should choose the account type suitable for you.
Best Crypto Trading App for Beginners in India
For new cryptocurrency traders and investors, the best trading app has copy trading capabilities and a good selection of educational materials. As a beginner, you may need to depend on professional traders to stay profitable. This can be done through copy trading. Also, a cryptocurrency trading app with good educational materials will expedite your learning process. The best cryptocurrency app in India that fulfills these conditions is Coinbase.
Is Crypto Trading Legal In India? Is it Safe?
Cryptocurrency trading is legal in India, but it is restricted to regulated exchanges and platforms. It is advisable to use only well-proven and regulated crypto exchanges to be safe.
Where Should I Keep My Crypto in India?
When it comes to stowing cryptocurrency holdings, traders have these top three options to consider:
Cold Wallet Storage
A cold wallet is a device that safeguards users’ crypto by creating and storing their private keys offline. Like hardware wallets, cold wallet storage provides a secure and offline way to store users’ cryptocurrencies. It is regarded as one of the safest options because they aren’t linked to the internet, thus decreasing the risk of hacking.
Hot Wallet Storage
Hot wallet storage is the opposite of cold wallets in that it stores private keys online. Like mobile apps or software wallets, it offers more convenience for regular transactions. It is, however, more vulnerable to cyber-attacks.
Physical Wallet Storage
Physical wallets provide an additional layer of security by storing users’ private keys offline in a physical format.
FAQs
Which Crypto App Is Legal in India?
Many cryptocurrency apps are legal in India, including WazirX, Kraken, Bybit, and Coinbase.
Which Is the Safest Crypto App in India?
The safety of a crypto app is contingent on numerous factors, such as user reviews, security measures and regulatory compliance. For example, CoinDCX is considered one of the most transparent and safest crypto apps in India.
Which Is the No 1 Crypto Exchange in India?
The ranking and popularity of crypto exchanges may fluctuate over time. WazirX is regarded as one of the fastest-developing cryptocurrency exchanges in India.
Is Binance Legal in India?
Given the blanket ban on cryptocurrency trading in India in 2018 was lifted by the Supreme Court in 2020, and Binance is among the best-performing apps in India, it is safe to assume that it is legal.
How do I buy crypto in India?
You can buy cryptocurrency from any of the regulated exchanges available in India.
Do I have to pay extra to buy cryptocurrency?
Yes, some exchanges charge a deposit fee, but this depends on the application.
Which cryptocurrency is best for Indian residents?
According to our expert reviews, the best cryptocurrency for Indian residents is Coinbase.
Can I buy crypto in INR?
Not all cryptocurrency applications support the Indian Rupee, but WazirX, Binance, and Kraken do.
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Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).