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Top 5 Cryptocurrency Apps in India (2024)
Looking for the top 5 crypto apps in India? Read this article to know the details, pros, and cons of India's top 5 crypto apps.
This article is related to an affiliate advertising program and The New Indian Express's journalists were not involved in production of this article.
In finance, cryptocurrency trading is a brand-new frontier with countless opportunities. You must, however, have the appropriate tools available to take full advantage of this new world. Mobile apps have bought, sold, and exchanged cryptocurrencies for fiat money. So it stands to reason that the cryptocurrency trading app is one of the most important of these tools.
Cryptocurrencies use a decentralised mechanism to track transactions and create new units rather than a central body to issue or regulate them.
This article consists of reviews of the leading cryptocurrency apps available in India. In addition, this article will explain what to look for in these applications and how to choose the ideal one for your trading style.
The top cryptocurrency app on this list is Delta Exchange. It offers a platform and several tools to simplify trading cryptocurrencies. The platform can be downloaded for free and has several tools to help you manage your trades and portfolio, conduct analysis, and automate trading.
CoinDCx is the best cryptocurrency app for advanced crypto traders. There are maker/taker fees of 0.2%, the cryptocurrency is available in 340+ markets, and the minimum investment is Rs.100.
Unocoin is the best crypto app for novice and intermediate traders. Trading is made easy and safe with this user-friendly platform.
In this comparison, we look at the different cryptocurrency apps available in India:
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A list of the top Crypto Apps in India can be found below:
Delta Exchange is a reliable and reputable trading platform for cryptocurrencies and derivatives. The Delta exchange offers leverage of 1:100 for futures, options, and interest rate swaps.
Cryptocurrency assets such as Bitcoin, Litecoin, Ethereum, Ripple, Tether, Bitcoin Cash, Stellar, and Tezos are traded on the platform; fiat money is not used.
Two-factor authentication, multilevel encryption, and cold storage of cryptocurrency are employed to protect user information and funds.
Why We Picked?
We chose the delta exchange because it is one of the safest exchanges for providing users with cryptocurrency portfolios. It has implemented stringent security measures and two-factor authentication to protect its users' money. In addition, no hacker has ever been able to access this exchange.
Key Characteristics:
1. Basket Orders
You can place multiple orders simultaneously using Basket Orders.
2. Strategy Builder
You can develop and evaluate your trading and strategy.
3. Easy Options
Predict the direction in which the price will increase or decrease to receive trade ideas.
4. Effective Margining Scheme
Less margin requirement allows for increased trading. Options trading can begin with an Rs. 800 minimum margin.
5. Deep OTM/IM Options
The option strikes of deep OTM and ITM can also be traded with daily and weekly expirations.
6. PNL Analytics
The best-in-class PNL Analytics feature lets you quickly calculate your daily gains and losses.
Unocoin, the original cryptocurrency trading platform, has its headquarters in India. It has handled more than 11.7 million transactions since its debut in 2013. For high-volume trading, Unocoin offers dynamic and competitive gas fees. You can gain the upper hand over other traders by automating your trades and building trading bots that use real-time market updates.
Since its launch in 2013, Unocoin has been a key player in India's fight for cryptocurrency rights and in facilitating cryptocurrency trading.
Why We Picked It?
UnoCoin is one of the most popular and well-known exchanges for purchasing, selling, and storing Bitcoin and performing other merchant processing tasks. Users can trade in more than 80 different kinds of digital currencies on this platform. Users also get free Bitcoins when they sign up and 15% of their trading fees are reimbursed.
Key Characteristics:
Another Indian cryptocurrency trading platform, ZebPay, was established in 2014. It asserts to have handled transaction volumes totaling more than $10 billion since its inception. The team has demonstrated a commitment to making cryptocurrency accessible to all by serving more than 5 million users since its Indian relaunch in May 2020.
Why We Picked It?
Investors in cryptocurrencies are familiar with ZebPay because it pays interest on unutilized holdings. For lending crypto, it offers a 4% fixed return that is guaranteed. With almost 50 lakh registered users, the exchange currently supports over 100 crypto coins on its platform. It is also ideal for intraday cryptocurrency trading because it enables rapid payments with minimal maker fees.
Key Characteristics:
WazirX is a cryptocurrency trading application that offers users a platform for managing, tracking, trading, and analysing digital assets. WazirX is undoubtedly one of India's most widely used cryptocurrency trading apps with more than 12 million users.
Why We Picked It?
With more than 60 lakh registered users, WazirX is one of India's exchanges for cryptocurrencies that is expanding the fastest. This exchange provides a huge selection of coins and tradeable pairs at affordable trading fees. Additionally well-known for its user-friendly design and sophisticated trading charts, WazirX offers web, Android, iOS, and Windows apps.
Key Features:
CoinSwitch Kuber is one of the most dependable exchanges for trading cryptocurrencies. Its goal is to simplify cryptocurrency trading for ordinary people, and Sequoia Capital is backing it.
Their mission statement states they want to "challenge the status quo" and give every man the tools necessary to become financially independent without a college degree or inherited wealth.
Why We Picked It?
The best choice for beginners is CoinSwitch Kuber because it doesn't impose any trading fees on any Bitcoin transactions. Users can trade over 80 cryptocurrencies for as little as INR 100. The trading pairs available on this platform include INR-to-cryptocurrency exchange, cryptocurrency-to-cryptocurrency trading, and cryptocurrency-to-INR trading.
Key Characteristics:
Listed below are some of the features of the cryptocurrency trading apps in India:
The variety of currencies that are available for trading differs greatly between exchanges. If you're a new trader, you're probably only interested in Bitcoin and maybe a few other well-known currencies. Thus, a large selection can make the platform too complicated for you.
Cryptocurrency may appear shady to some due to the lack of government regulation and its use on the black market. Instead, look for security features like cold storage, encryption, and two-factor authentication (2FA) (offline storage to protect against theft and hacking).
According to the rules, can you utilise the exchange while in your nation and state? If an exchange isn't offered in your state, keep a watch out because businesses frequently grow.
You can connect your bank account to transfer funds to fund your account and purchase cryptocurrency. You can also make use of a debit or credit card.
Not all exchange platforms include a wallet for storing your cryptocurrency holdings. Therefore, it might be more convenient to be able to trade and manage your money on the same platform.
Centralized cryptocurrency exchanges serve as a middleman between buyers and sellers and generate revenue through commissions and transaction fees. A CEX can be compared to a stock exchange but deals in digital assets.
Unocoin, WazriX, and Binance are well-known cryptocurrency exchanges. Similar to stock trading websites or programmes, these exchanges allow cryptocurrency investors to buy and sell digital assets at the current price, known as spot, or leave orders that get executed when the asset reaches the investor's specified price objective, known as limit orders.
In the order book method employed by CEXs, the buy and sell orders are listed and organised according to the anticipated buy or sell price. The exchange's matching engine then matches buyers and sellers based on the best executable price given the requisite lot size. The supply and demand of a digital asset in relation to other assets will therefore determine the price of that asset, whether it be in the form of fiat money or a cryptocurrency.
Crypto wallets technically don't store your crypto, unlike a typical wallet, which can hold real money. Your holdings are stored on the blockchain but require a private key. You can't access your money if you misplace your secret keys. Instead, use a reliable wallet service like Unicoin or keep your hardware wallet secure.
You can easily access your cryptocurrency assets using an app like Exodus or Coinbase Wallet. You can:
Swap is essentially the classic method of trade. It is excellent for modest sums of money because a person may just utilise the current currency to exchange it for whatever they want.
On the other hand, cryptocurrency brokers let their clients utilise whatever funds are available in the broker's account for deposits and trades, skipping many trades to get the right currency for a given transaction. For this reason, it is advised to use crypto brokers for crypto moons.
In essence, brokers will choose the best buyer or seller for your transaction so that both of you can acquire the currency you want. In most situations, brokers will be the best choice; no other person will be engaged. By working with a cryptocurrency broker, you can take advantage of chances like leverage situations, for instance, if the broker needs your currency to complete a transaction with another user on their platform.
Contrarily, the crypto exchange, in this case, leaves you on your own, so if you want to sell your cryptocurrency, you will need to find buyers on your own or wait for someone to approach you directly through the crypto platform.
Listed below are the answers to which is the best cryptocurrency app in India.
The best cryptocurrency app in India is WazirX since its fees are about 4% lower than those of the others.
Among the cryptocurrency, companies are UnoCoin, CoinSwitch, CoinDCX, ZebPay, and WazirX.
For cryptocurrency trading, ZebPay is the most secure app.
This article reviews five of the best cryptocurrency trading apps in India. Each of these cryptocurrency trading apps offers unique features that make it stand out from other apps. In addition to WazirX, we have covered CoinSwitch Kuber, Unocoin, ZebPay, and CoinDCX. This post should have provided you with some information about the best crypto trading app.
Unlike traditional assets, cryptocurrencies are unregulated virtual assets that do not involve market risk or legal tender.
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