5 Best Bitcoin exchanges in India to buy & sell Bitcoins 2018
If you are an Indian and looking for best Bitcoin exchanges in India to buy & sell Bitcoins and altcoins in INR than this article is for you.
As you all know Bitcoin price is skyrocketing and touching new heights. Bitcoin exchanges provide a platform to buy & sell and trade cryptocurrency using altcoins and fiat currency.
Thus a primary user wants a legit, transparent and secure platform to invest.
All exchanges in this article are Indian born and are specifically for Indians to trade, buy & sell Bitcoins.
Bitcoin exchanges listed below are the best Bitcoin exchanges in India to buy & sell Bitcoins 2018
These exchanges are legit, trusted and secure so you don’t need to worry about a thing before investing your hard-earned money.
I have also written an article on most trusted Bitcoin exchange worldwide to buy, sell or trade altcoins. Indians can also trade, buy & sell Bitcoins and altcoins on these exchanges.
The only difference is the exchanges in this article are Indian born, and in the later all exchanges are foreign-based.
So here is my list of 5 best Bitcoin exchanges in India to buy & sell Bitcoins.
Unocoin — As the post suggests, Unocoin Exchange is an Indian company and only designed for Indian clients.
Unocoin was established in 2013 and based in Karnataka. To date, they have about 560000 customers and more than 1400 million in revenue.
Unocoin exchange ranked first on the list of 5 best Bitcoin exchanges in India to buy & sell Bitcoins.
It was not a multi-coin exchange till February 28th, till now it only offers Bitcoin to sell & buy directly from their platform. ( Read below for new update)
The best part of Unocoin is its user-friendly interface which is smooth, clean and beginner friendly. It is effortless to buy & sell bitcoins on the platform.
So if you are new to the cryptocurrency world then Unocoin exchange is the most recommended and best Bitcoin exchange in India to make your first Bitcoin purchase.
Before buying bitcoins on Unocoin, you have to get your account KYC verified.
For verification, you have to provide your personal information along bank account details. Then upload the scanned copy of the documents, Unocoin will call you next day to confirm your account details hence, You will be allowed to buy & sell Bitcoin on the exchange.
They are consistently adding new features to their platform and some recent additions are SIP (Systematic Investment Plan), OTC (Over the counter purchase and sell), and Netki address.
“SIP (Systematic Investment Plan) is a more conservative approach to investing in bitcoin than spending all your money on Bitcoin at once. This technique allows you to commit to a fixed INR amount on Bitcoin on a regular schedule regardless of the price. You need to fund your INR wallet and schedule the orders to start with SIP. This feature helps with financial discipline by averaging out your cost and thereby reducing risk resulting in generating better returns.” That’s how Unocoin explains SIP
Unocoin set daily, a weekly, and a monthly budget for purchasing Bitcoin and they allow up to maximum 50000 INR investment at once either in daily, weekly and monthly schedule.
OTC is also a recent addition to their platform which allows Over the Counter Trading.
There is also a new feature called Netki which let the user create human-readable wallet address.
Unocoin is also an online wallet which allows you to create your personal Bitcoin wallet address or paper wallet address. Which allow a user to send & receive Bitcoins to and from your Bitcoin wallet address.
You can also store your Bitcoins on the exchange but it is not safe to leave your coins on an online exchange.
Always store your coins in the hardware wallet 2018
For security purposes, enabling two-factor authentication is necessary.
Unocoin Exchange is also available for the mobile device (ios and android). You can download their app to use on mobile.
They also offer well documented and simple API for developers to integrate.
Overall, Unocoin Exchange provides a user-friendly and secure platform to buy & sell Bitcoins in India.
.Ease of use, perfect for beginners.
.Offers variety of features like SIP, OTC, and Netki address
.Security is of the high standard.
.Has good member base in India.
.Mobile app (ios & android) for your mobile device
.Simple and well-documented API for merchants.
Customer support is pathetic (takes ever to respond)
Offers only Bitcoin to buy & sell directly from the exchange (update - unocoin exchange is now a multicoin exchange)
Payment options are limited
They don’t lock transaction even for a minute If during transaction Bitcoin price changed than transaction will not occur you have to do it again from scratch.
Use Code — UNOWEEK200
[Update - Unocoin exchange is now a crypto asset exchange]
[ Multiple crypto assets to include Bitcoin Gold, Bitcoin Cash, Litecoin, Ripple, Ethereum, and Bitcoin
This is what Sathvik Vishwanath, Co-founder, and CEO, Unocoin said at launching event on 28 February in Bangalore
("Underlining its focus on ensuring seamless and convenient trading of digital assets, Unocoin, India’s leading cryptocurrency exchange, has now launched a new order-based trading feature on its platform as part of a suite of updates on its iOS and Android application.
The new feature on the platform is currently built to support six major cryptoassets, i.e. Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). The Stellar (XLM) coin will soon be released and further plans to support trading of other cryptoassets in the near future.
The launch of the new updates, along with its existing Bitcoin trading services, further strengthens Unocoin offers for its users. The crypto-asset exchange aims to plug the surge in demand for digital asset trading by providing a highly transparent price discovery mechanism with minimal spreads between buyers and sellers through its enhanced platform. In addition, users will have the option of making both deposits and withdrawals in the corresponding crypto assets, thus enabling them to hold and transact digital assets in different crypto assets directly from their Unocoin wallet itself. With the adoption of the maker (fee 0.4%) & taker (fee 0.6%) model, the platform now also offers a reduced fee structure on purchase and sale of crypto assets. In addition, users will now be able to take charge of price dictation, vouch for their desired price levels, and even trade beyond their daily limits through the new model
Therefore, the new Unocoin platform will bring a significant edge to both new, and existing users’ crypto assets transactions, supported by a reduced fee structure on trades.”
Incepted in 2013, Unocoin has been at the forefront of the bitcoin revolution in India. It was the first company in India to offer a full-featured mobile bitcoin app, with 24/7 access to real-time bitcoin market prices and instantaneous trading transactions. The company currently operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin.")]
Coin secure exchange is a trading platform in India with open ledgers.
It is a real trading site, Unlike Unocoin Bitcoin wallet or Zebpay wallet which is only online Bitcoin wallet. Coin Secure offers automated Bitcoin deposits and withdrawals.
It is true Bitcoin Exchange network and is at second on my list of 5 best Bitcoin exchanges in India to buy & sell Bitcoins.
The platform is a member of NASSCOM and is ISO 9001:9008 complaint. Coin Secure was founded in the year 2014 and launched at the starting of 2015. It is based in New Delhi.
Before buying bitcoins, you have to get verified by submitting your all personal documents along with your bank account scanned copy.
What I most like about Coinsecure is that the spread of money is only 1000 to 2000 INR, which is much better than Unocoin and Zeb pay wallet. Transaction fees are 0.3% of the total sale.
It is fast real-time Bitcoin exchange (first in India) and first Bitcoin exchange which can let you trade in Indian Rupees.
The interface is not beginner friendly, but their platform is full of information for experienced users.
Buying, selling, and other trading activities can be monitored live on the dashboard.
It is good for facilitating remittances through Blockchain technology in partnership with OKLink
Coinsecure uses a hybrid wallet, where a part of your funds are stored in the cold wallet, and a small percentage of funds are saved in the hot wallet which you can withdraw anytime.
The coinsecure exchange also has their android app which you can use as the trading platform on mobile.
Hence, if you are looking for a cryptocurrency exchange, than Coinsecure is one of the best Bitcoin exchanges in India to trade, buy & sell Bitcoins and other altcoins.
NOTE — If you wish to sell your Bitcoins in India than Coinsecure exchange is the best option because price variation is less compared to other exchanges.
.1st Bitcoin exchange in India which provides easy to use trading platform.
.Transactions are fast
.Transaction fee is low only 0.3% of the total transaction.
.Also offers an Android app which is for mobile users
.There are other altcoins along with bitcoin to trade.
.Payments options are few.
.Limitted number of altcoins to trade.
.Do not have ios mobile app
.Interface is not newbie-friendly but, will take a week to get accustomed to exchange
Koinex is a new cryptocurrency exchange which was launched in June 2017 by a group of cryptocurrency professionals who wants the trusted altcoin trading platform in India.
The founders include Rahul Raj(IIT Kharagpur), Rakesh Yadav(IIT Delhi), Aditya Naik(BITS Pilani).
Although Koinex is a new cryptocurrency trading exchange in India it was an instant hit and Cryptocurrency users in India welcomed it with open hands.
There is other best Bitcoin exchange in India to buy & sell Bitcoins like coinsecure exchange. But they have some drawbacks like the limited number of cryptocurrencies to trade and depositing fiat currency take ever.
But koinex came with keeping in mind that drawback deposit and withdrawal of funds are instant. It also allows to buy & sell Bitcoins instantly against INR.
Ethereum, Litecoins, Ripple, Bitcoin Cash, IOTA, OmesiGo, Golem
On top of this, they are rigorously adding new cryptocurrencies on their platform thus giving more trading altcoins.
The interface is intuitive, and it is effortless for even new cryptocurrency traders.
Account verification is compulsory before initiating a trade on the platform. You need to add basic information and upload a valid id like aadhar card, address proof, and pan card. You also need to add your bank account. KYC verification will take about 2 days and then you are ready to go.
There are various payment methods to add funds like net banking and lot of third-party apps like Paytm, Payza, Mobikwik, jio recharge, Airtel money, and OLA money. They don’t support credit card & the debit card for directly adding funds.
Koinex charges 0.25% to 0.10% trading fee depending upon the amount of transaction
Rs.0 to Rs.25,00,000 they charge 0.20% to0.25% trading fee
Rs.25,00,001 to Rs. 1,00,00,000 Koinex charge 0.15% to 0.20%
Rs.1,00,00,001 and above Koinex charge 0.10% to 0.15% trading fee
Withdrawal fee is relatively high as Bitcoin withdrawal fee is 0.001 BTC.
Security of the cryptocurrency exchange is formidable they use the DDoS integrating platform along with 2-factor authentication.
Customer support is relatively poor it takes ever to get the response.
Koinex is rated fifth in the list of 5 best Bitcoin exchanges in India to buy & sell Bitcoins and other altcoins 2018
Decent range of altcoins offered
Platform interface is easy to use and beginner-friendly
Multiple payment methods to add fiat money
Support is robust
Competitive trading fee.
Relatively high withdrawal fee
Customer support is not up to the mark
Doesn’t support mobile app
No leverage and margin trading
Zeb Pay exchange comes at fourth on the list of 5 best Bitcoin exchanges in India to buy & sell Bitcoins 2018.
You need to download the application to buy or trade cryptocurrency because ZebPay exchange only supports the mobile device.
Zebpay wallet is an app-only ecosystem to buy & sell Bitcoin located in Ahmedabad, India
Here you can make transactions using Bitcoin. You can buy vouchers for popular stores Amazon, Flipkart, Book my show, Pizza Hut etc. ZebPay also supports mobile phone, DTH, and data card recharge using Bitcoin.
It was the first bitcoin wallet app developed in India. It is available for both android and ios.
Zebpay has a straightforward interface, and it is effortless to buy Bitcoin from the exchange. For verification, you just have to submit your pan card.
ZebPay supports Bitcoin wallet, Litecoin wallet, and Bitcoin Cash wallet. You can buy & sell Bitcoin along Litecoin and Bitcoin Cash on the app.
Note - I always suggest to store your cryptocurrencies in top hardware wallets.
Payment methods accepted are online banking and the Credit & debit card
Zeb Pay is not for those who deal with a large amount. It is a mobile wallet which you can use for day to day small transactions.
.First mobile Bitcoin wallet app (android & ios) developed in India.
.Interface is very simple.
.Verification is not very intensive. Only submit pan card to get verified.
.Support Bitcoin, Litecoin, and Bitcoin Cash
.Transferring from bank account to Zeb pay wallet takes forever, It is frustrating.
.Can’t place any auto buy or sell orders based on cut-off prices.
.Security is weaker than Unocoin. There is no two-factor authentication.
Note — Download app using above link to receive Bitcoin worth 100 INR bonus
Coinome cryptocurrency exchange a recent addition to the list of 5 best Bitcoin exchanges in India to buy & sell Bitcoins 2018.
Coinome is based in Mumbai, India is incorporated with Hatio Innovations Ltd a subsidiary of Billdesk, a giant payment services brand in India.
BillDesk is the leader in driving electronic digital payment and digital commerce from last 17 years in India.
Coinome is basically a cryptocurrency trading platform and currently offers the trading of Bitcoin, Bitcoin Cash, and Litecoin. But they are going to support 20 mainstream cryptocurrencies including Ripple coin within a few months from now
This is what CEO Vivek Steve Francis of Coinome exchange had said during the launch of exchange “The aim is to bolster blockchain technology in India. We have had a soft launch of Coinome (β) on October 10, this year; and, after the successful run of β-Coinome, we have now officially launched Coinome exchange. Currently, offering the trading of Bitcoin and Bitcoin Cash, the plan is to launch five-six more leading cryptocurrencies by next month.”
Coinome allows users to onboard via an instant e-KYC process. Under the process, a user needs to Aadhaar add mobile no, a valid email id, and aadhar card, a post which an OTP is sent for the verification and activation of the account.
If you do not have any Indian Mobile number and aadhar card than you should look for other best Bitcoin exchanges in India to buy & sell Bitcoins with Rupees.
The user has to link his/her bank account in order to deposit money in your coinome account. Online payment transfer, Netbanking is the only option to deposit money. Deposit and withdrawal of funds are instant and fast.
For buying cryptocurrencies user have to place the order manually and have to enter the amount of cryptocurrency he/she want to buy on this ‘best Bitcoin exchange India’ then place the trade request. For buying different cryptocurrencies user have to place the specific trade request for each cryptocurrency.
Same can be done for selling cryptocurrencies. The transaction is instant and fast.
Coinome follows a maker-taker fee model. “Maker” is the user who places a limit order request that sits on the open exchange book.
Taker is the user who places a market order request that matches or crosses an order already on the book.
The fee is relatively low in comparing to other 5 best Bitcoin exchanges in India.
The interface is easy to use and beginner friendly.
Coinome has also launched a mobile app. Coinome offers the trading value as low as $1.546 (this is about 100 INR) and trading Bitcoins up to eight decimals.
Launched by a subsidiary of BillDsek which is highly trusted online payment system in India
Transactions are instant and fast
The offering of 20 mainstream cryptocurrencies to trade with INR.
Security is of the high standard
An interface is easy to use and beginner friendly
The trading fee is relatively low
Offers the Coinome mobile app with the same user-friendly-interface
At present does not have many cryptocurrencies to trade
Customer support takes time to respond