The legality of cryptocurrency in India is still up in the air, you can invest in the digital currency and book profits. Regulators have finally opened the arena for companies to start their own ventures, and this has given rise to a number of cryptocurrency exchange apps over the years that let you invest in cryptos like Bitcoin, Ethereum, Dogecoin, and more, instead of large ones. Use your smartphone – heavy machines like laptops. But before we get into the list of best online cryptocurrency exchange apps that you can try in India (along with their features and fees), here’s what cryptocurrency exchange apps do.
What does a cryptocurrency exchange app do?
For those unaware, cryptocurrency exchange apps help you have quick access to various cryptos available in the market and let you trade (buy and sell) on the go. You do not need to mine crypto using a laptop. Instead, these apps are facilitating your desire to trade in crypto and enter the world of decentralized digital currency networks. The entire process is simplified for anyone to sign up, and the mobile app interface completes the quick learning. You have crypto exchange apps for mobiles available on Google Play Store and Apple App Store that work on Android and iOS phones respectively.
Best Cryptocurrency Exchange Apps in India
You must have heard this name quite a lot on social media recently, which shows that it is quite popular among the people. This crypto exchange app allows you to invest using INR, US Dollars, BTC and even P2P. In fact, WazirX has its own coin called WRX which can be bought using INR. You can then use WRX to invest in other cryptos. One of the popular features of WazirX is that you can earn coins through various contests which are available on the information section of the app. Users can secure their account using 2FA or in app passcode which can be enabled from the phone’s settings.
WazirX charges a 0.2 percent fee to the payer and creator. You can deposit any amount above Rs 100 in WazirX Wallet through NEFT, RTGS, IMPS and UPI. The first three transactions come with a fee of Rs 5.9, while the UPI transactions are without any charges.
Next you have Unocoin, which is known for its simple user interface and support for multiple cryptocurrencies. While signing up for the app, a user has to create an account and ensure to complete all the KYC (Know Your Customer) details. The app also includes a schedule sale feature that lets you auto-sell from the Profile tab. Unocoin users are charged a fee of 0.7 percent when buying and selling their assets, which is higher than what WazirX ordered. This rate is applicable for minimum 60 days of usage. After that, the app charges a 0.5 percent fee and also upgrades you to a Gold membership.
Unocoin allows deposit minimum of Rs 1,000 which is higher than what WazirX offers. But when you deposit money using NEFT, RTGS, IMPS or UPI, no fee is charged from the users. That said, there is a transaction fee of 2 per cent for using MobiKwik wallet and for debit or credit cards as well, you will have to pay a fee as prescribed by banks. Unocoin also provides biometric security features via Finger ID and Passcode. But suppose you type wrong code along with Biometric ID, then the app will log you out.
CoinDCX is recognized as the most versatile trading app for crypto assets in the country. It lets you buy or sell up to 200+ trading coins. Along with this, the entire setup process has been simplified by using One-Time Password (OTP) on your registered mobile number and email ID.
If you go to the Settings tab of the app, you can learn a lot about investing in cryptocurrencies and how they work in the virtual world. CoinDCX charges a maker and a taker fee of 0.1 percent with a minimum withdrawal limit of Rs 1,000 without any fees. This cryptocurrency exchange app supports only INR for you to trade in crypto. You can deposit money into the account using NEFT, IMPS, RTGS, UPI, or even a simple bank transfer.
CoinDCX has a comprehensive set of security measures and that is a good thing. First, users need to verify themselves using the Google authenticated app. Because without this you cannot start trading on the app. You will also need to set a withdrawal password that must be confirmed for each withdrawal you make.
Another cryptocurrency exchange app that you may be familiar with is Zebpay. It is one of the oldest crypto trading apps in the market. It lets you signup and complete KYC details through your mobile number to start trading. The platform complements the refer-and-earn feature. So if you manage to sell the idea of crypto trading through Zebpay to others, and they sign up, you get 50 percent of the trading fees done through your link for one year. The minimum deposit amount is Rs 100 using UPI, and Rs 1,000 for other forms of payment.
Zebpay has charges in all brackets. Its membership fee is 0.0001 BTC per month. The app says that you can avoid fees by actively investing in it. Zebpay also has a 0.15 percent maker fee and a 0.25 percent taker fee. But let’s say if your trading (buying and selling) happens on the same day, you are charged only 0.10 percent trading fee. Zebpay offers free deposit of all crypto. But if you deposit using UPI, there is a charge of Rs 15, while netbanking charges 1.77 per cent. The platform also charges Rs 10 for all withdrawals and for bitcoin it is 0.0006 BTC.
Coinswitch Kuber was an always present advertising feature during the recent IPL. The platform has received funding from popular investors and VC firms like Sequoia. It claims to let you trade in 100+ cryptos and promises the best trading rates in the market. Use your mobile number to create an account for trading on the app. But obviously you cannot start trading before completing the KYC process.
To secure the account on the app, you get a four-digit PIN code option. CoinSwitch Kuber says that the first 100,000 users on the platform will not have to pay trading fees for 100 days. The simple user interface and aggressive marketing have attracted people to CoinSwitch Kuber. The best crypto exchange app offers deposits in INR via NEFT, Bank Transfer and UPI. But the platform fails to share information about its security measures to keep crypto assets safe. The overall service system needs improvement and the business details are not detailed.
The Gemini App
As one of the first significant exchanges and currently one of the largest by assets, Gemini is a popular platform for investing in cryptocurrencies. Gemini offers great support and partnerships, supports most major cryptocurrencies, and offers reasonable interest rates on assets, provided you meet the requirements.
Additionally, if you open a Gemini account and trade $100 in cryptocurrency, you will receive $25 in bitcoin. Other features include a simple user interface and accepting almost all payment options. Although there are limited payment and deposit methods, customer service can be mixed as well. The Gemini app is available on both Android and iOS devices.
Because you can invest directly with USD, Coinbase is by far the most well-known and best cryptocurrency exchange. Currently, the platform allows you to buy Bitcoin, Ethereum, Litecoin and more than 30 additional coins and tokens. Additionally, by completing specific tasks, you can earn token incentives and interest on your USDT.
Additionally, if you sign up for Coinbase using our link, you will receive a $10 BTC bonus after you trade $100. Although users do not control the private keys in the wallet, the transaction fees are very high, except if you are using Coinbase Pro. In the end, Coinbase is short on adapting to the new cryptocurrencies.
Binance is one of the great starting points for investing in currencies like Cardano or Neo. They offer one of the most powerful trading platforms available, despite not being as user-friendly as the other top platforms on this list. They have a great mobile app, but we’re annoyed at how difficult it is to use. Here, try Binance.
There are fewer coins and tokens available for investment on Binance.us than on the international version of the platform. In addition, Binance has fast transaction times, low fee charges compared to other apps on the list of best apps for investing in cryptocurrencies, and is full of known and unknown coins. However, it is limited in some areas and has limited customer support.
यह भी पढ़े – पेटीएम से लोन कैसे ले 2022 ?
More recently, eToro has been available to traders in the US, in addition to the UK and other parts of Europe. They have a huge selection of digital assets available for purchase and sale on their platform, and even better, you can practice trading with virtual money before using real money.
If you trade that amount you can currently deposit $100 in crypto assets and get a $10 bonus from eToro. Only US users are eligible for this promotion. Other features include the ability to copy portfolios of other traders, have a low minimum start-up fee and are not limited to areas like most of the apps in this list of the best apps for investing in cryptocurrencies. However, eToro does not support most coins like other crypto apps.
You can invest in cryptocurrencies through bitcoin lending and interest earning platform BlockFi. You can borrow money against your assets instead of selling your coins and tokens. You can just let your tokens sit there and generate interest if you just want to stick to them.
Receive a bonus of up to $250 when you deposit $25 and keep it there for the required amount of time. With BlockFi, there are no commission fees, although it does have a free withdrawal limit.
One of the first cryptocurrency trading platforms, Kraken has a good selection of coins and tokens available to trade and invest in. They also allow margin trading. It is a genuine exchange, although less user-friendly than some of the top platforms on this list.
One of the few websites on this list that lets you trade in DOGE and other, risky tokens is Kraken. Notably, US users have access to a smaller selection of coins and tokens than customers in other countries.
Kraken is one of the apps on my list of best apps for investing in cryptocurrencies with high security and safekeeping. However, users complain about the lack of customer support.
Due to its easy low-cost fees, Bittrex is a desirable option for cryptocurrency investors, especially those who trade large numbers. If you trade less than $50,000 per 30 days, you will pay between 0.25 and 0.35 percent in commissions, but if you trade a lot of money, the cost drops quickly.
Additionally, neither USD deposits nor ACH withdrawals are charged on Bittrex. Hard-core crypto fans will also appreciate Bittrex’s availability of over 250 cryptocurrencies for trading. Including top coins like bitcoin, ethereum etc. Both the more obscure entries and the most famous coins are available.
Although Robinhood is best known for its sleek trading interface for stocks, options and ETFs, it has since diversified into the cryptocurrency market. Additionally, it brings its no-commission structure to the crypto industry.
Although trading may be free, Robinhood incorporates the cost into the purchase or sale price of a coin by charging a spread markup rather than a direct fee. With Robinhood’s rapid transfer feature, you can start trading almost immediately, so all you have to do is download the app.
If you are on a tight budget or only want to risk a modest amount, Weebly could be one of the greatest cryptocurrency applications for this use. Importantly, not only can you open a Weebly account without making a minimum deposit, but you can also buy and sell cryptocurrencies for as little as $1 per transaction.
It enables you to learn the ropes of cryptocurrency trading with a negligible investment. Webull offers all its markets on a spread only basis in terms of fees and commissions.
We found that the minimum spread for cryptocurrency trades was 1%, which is not particularly competitive. You have two options for funding your Webull account: ACH or a bank wire. However, the latter will cost you $25 to withdraw cash and $8 to deposit.
इसे भी पढें-Mobile Se Youtube Channel Kaise Banaye 2022 ?
When it comes to auto-trading it is challenging to find an app that performs seamlessly like Pionex. This cross-platform program has 16 free built-in trading bots that make auto trading possible.
That's why I added it to my list of best apps to invest in cryptocurrency. One of the most secure cryptocurrency apps available is Pionex, which has garnered a solid reputation in the industry. It collects liquidity from platforms like Binance and Huobi which is closer to ticker pricing. In fact, Pionex is a market maker on Huobi and one of the largest brokers on Binance.
Additionally, Pionex holds the FinCEN MSB license, which is highly regarded. Another element that makes Pionex worth exploring is the extremely low trading fees compared to other exchanges.
Conclusion on the Best Apps to Invest in Cryptocurrencies
There are lots of mobile apps that can help you invest in crypto. However, these are the best apps for investing in cryptocurrencies. As you have read, each has a unique feature that draws attention to it. And they all have protection and they are safe so I have listed them in the list.
Plus, each of these apps has good audience reviews. However, there are some complaints about some. Let us hear your thoughts on these best apps for investing in cryptocurrency in the comment box below.