These days, cryptocurrency seems to be a hot topic. This might be explained by the sudden increase in the price of digital assets and the barrage of advertisements with your favourite Bollywood actor telling you that cryptocurrency is the future. But how do you enter the market and begin investing in cryptocurrencies to make money quickly? Apps that exchange cryptocurrencies are the solution. In assessing the entire crypto ecosystem, these apps are essential. They may be used to manage your account, purchase and sell other cryptocurrencies, and check the prices of such cryptocurrencies.
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What do cryptocurrency exchange apps do?
For those who are unaware, cryptocurrency exchange apps allow you to trade (buy and sell) a variety of crypto on the move and give you instant access to the market’s offerings. Cryptocurrency mining does not require a laptop. These apps are actually making it easier for you to trade cryptocurrencies and explore the world of decentralized digital currency networks. Anyone may sign up now because the process has been made simple, and the mobile app’s user experience is designed for speedy learning. On the Google Play Store and the Apple App Store, you may find mobile crypto exchange apps that function on Android and iOS devices, respectively.
Top Indian apps for cryptocurrency trading
It is important to note that there is no firm ruling on whether cryptocurrencies are legal in India. As of yet, the nation has not proclaimed it to be legal tender. A number of cryptocurrency exchange apps have emerged in recent years that allow you to invest in cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and more using your smartphone rather than large, heavy machines like laptops as a result of regulators finally opening up the market for businesses to start their ventures. Here are the top crypto exchange apps available in India according to Forbes are listed below:
You may have recently heard a lot about WazirX on social media, indicating that it is well-liked by users. You can invest using INR, US dollars, BTC, and even P2P utilizing this cryptocurrency exchange app. WazirX really has a coin of its own called WRX that can be purchased with INR. WRX can then be used to invest in other cryptocurrencies. You can earn coins through a variety of contests that are featured on the info page of the app, which is one of WazirX’s most well-liked features. Using 2FA or an app passcode that may be enabled in the phone’s settings, users can secure their accounts.
The taker and creator are both subject to a 0.2 percent charge fee on WazirX. Any sum greater than Rs 100 may be deposited in the WazirX wallet using NEFT, RTGS, IMPS, and UPI. While UPI transactions are free of charge, the first three have a transaction cost of Rs 5.9.
The most flexible trading app for crypto assets in the nation is considered to be CoinDCX. You can purchase or sell more than 200 different trade coins. Additionally, the entire setup procedure has been made simpler by the use of a one-time password (OTP) sent to your registered email address and mobile number.
You can learn a lot about investing in cryptocurrencies and how they work in the virtual world by visiting the Settings page on the app. The maker and taker costs on CoinDCX are 0.1 percent, and the minimum withdrawal amount is fixed at Rs 1,000 with no additional fees. This cryptocurrency trading app only allows you to trade in INR. You can fund the account through NEFT, IMPS, RTGS, UPI, or even just a straightforward bank transfer.
It’s a good thing that CoinDCX has a robust set of safety measures in place. Using the Google Authenticate app, users must first authenticate themselves. You cannot start trading on the app without this, after all. Additionally, you must create a password for withdrawals that must be verified each time one is made.
CoinSwitch Kuber was a recurring advertisement during the most recent IPL. Popular investors and venture capital firms like Sequoia and others have provided investment for this platform. It guarantees the greatest trading rates on the market and says you can trade in up to 100+ cryptocurrencies. To register for an account to trade on the app, use your mobile number. However, it is evident that you cannot begin trading before the KYC procedure is finished.
You can use a four-digit pin code to protect your account on the app. According to CoinSwitch Kuber, the first 100,000 users of the site won’t be charged a trading fee for a period of 100 days. People have joined CoinSwitch Kuber because of its straightforward user interface and strong promotion. Deposits can be made in INR via NEFT, bank transfer, and UPI on the finest cryptocurrency exchange app. But the platform doesn’t disclose any information regarding the security procedures it has in place to protect the cryptocurrency assets. The overall service method needs work, and the trade specifics are lacking.
Unocoin is the next option, and it is renowned for both its user-friendly interface and compatibility with a variety of cryptocurrencies. A user must create an account and provide all necessary KYC (Know Your Customer) information while downloading the app. Additionally, the app has a timetable sale function that enables auto-selling from the profile tab. Users of Unocoin pay a fee of 0.7 percent when purchasing and selling assets, which is more than WazirX does. This tariff is valid for usage lasting at least 60 days. Following that, the software asks for a 0.5 percent fee and also upgrades you to a Gold membership.
Unocoin deposits require a minimum of Rs 1,000, which is greater than what WazirX provides. However, there are no costs for users who deposit money through NEFT, RTGS, IMPS, or UPI. Nevertheless, there are transaction costs of 2% when using the MobiKwik wallet, and there may be additional fees from the banks when using debit or credit cards. In addition, Unocoin provides finger ID and passcode biometric security measures. However, if you enter the incorrect code in addition to your biometric ID, the app will log you out.
Another crypto trading app available is Bitbns. The programme, which is available for both Android and iPhone users to download, enables you to purchase and sell alternative coins without the involvement of a third party. The programme lists more than 100 cryptocurrencies, from the well-known Shiba Inu and Ethereum to the more recent Bitcoin and Ethereum. Additionally, because of its affiliation with the major cryptocurrency exchange OKEx, Bitbns provides trading simplicity unmatched by any other cryptocurrency exchange.
Traders in India can purchase USDT, LINK, AAVE, MATIC, and USDC with a rupee via bank transfers, IMPS, and UPI by selecting Bitbns using OKEx’s buy/sell tool. Through the partnership, the company also hopes to provide Indian traders with access to a fiat gateway, a variety of more recent trading pairs, early access to the launch of new coins and tokens, and high return staking products.
Five of the top cryptocurrency trading apps in India have been covered in this post. These all stand out from other crypto trading applications because of the unique features that each of them possesses. We discussed WazirX, CoinDCX, CoinSwitch Kuber, Unocoin, and Bitbns. Hopefully, this post has given you some information regarding the best software to use for crypto trading.