Cryptocurrency has emerged rapidly over the past decade, which led to the need for reliable and efficient trading platforms. WazirX is one of the biggest and most well-known cryptocurrency exchanges in India. It serves as a threshold to trade digital assets. However, with the changing scenarios of the market conditions and regulations, many traders are seeking alternatives to WazirX. This article delves into some of the best alternatives of WazirX, whether you are looking for a range of cryptocurrencies or a platform with lower costs and security.
1. Binance India
It is a part of Binance, a top global market-leading exchange. Their product offerings are vast and include buying and selling cryptocurrency with Indian rupees (INR), trading, futures, vaults or liquidity farm programs, loans, and NFTs. With more than 28 million members, more than 500 cryptocurrencies, and daily trading of billions, Binance is the largest exchange globally.
2. KuCoin
KuCoin is one of the earliest cryptocurrency exchanges worldwide, which has met with the Financial Intelligence Unit (FIU) in India. KuCoin is the seventh-ranked cryptocurrency exchange worldwide, enabling users to trade, buy, and sell a majority of cryptocurrencies.
Additionally, KuCoin is implementing an internal mechanism for TDS submission. It will relieve Indian users of their stress and allow them to benefit from exposure to international cryptocurrency exchanges.
3. CoinDCX
CoinDCX is an Indian cryptocurrency exchange that offers decent liquidity, and instant INR deposit and withdrawals. It has better customer support than WazirX. You won't have any trouble using CoinDCX if you've already utilized WazirX.
Found on April 7th, 2018, CoinDCX operates locations around India.
4. ZebPay
ZebPay is one of the oldest cryptocurrency exchanges in India, which has a fascinating background. However, it allows users to buy, trade, and sell digital currencies like Bitcoin, Ethereum and more.
It’s popular for its user-friendly interface and focus on mobile devices. It provides trading choices from fiat to crypto as well as from crypto to crypto. Bank transfers are among the payment options accepted by the exchange. While Zebpay is well-known in India, it caters to clients all around the world. With features like multi-signature transactions and cold wallets, it prioritizes security.
5. CoinSwitch
Found in 2017, CoinSwitch is headquartered in Bengaluru. Their accessibility, ease of usage, and non-custodial nature have made them one of the best cryptocurrency exchange alternatives available in India. With far over 10 million downloads on Google Play alone, they are an app-only exchange. The distinctive feature of CoinSwitch is that it doesn't produce its liquidity. It enables traders to connect to multiple exchanges to locate the best exchange rates.
The need for reliable and effective trading platforms is growing along with the bitcoin sector. Despite WazirX's dominance in India, traders are being compelled to consider other choices because of shifting legislation and market conditions. Numerous features, including increased security and lower fees, are available on platforms such as Binance, KuCoin, CoinDCX, ZebPay, and CoinSwitch.
Traders can select an option that best suits their requirements, be it convenience of use, access to global markets, or local regulatory compliance, as each option has something special to offer.