You’ve probably heard a lot about Bitcoin, Dogecoin, and other cryptocurrencies in recent years. Ever wondered why, because of several benefits it provides to customers, it’s suddenly all over the market, in the news, on social media, and even in commercials? Cryptocurrency made its way to the every individual by providing addition benefit.
Benefits of Cryptocurrency
The sudden rise of cryptocurrency is because of the benefits it provides to the investors.
- Purchases and withdrawals are unlimited.
- Unlike opening a bank account, which requires proper documentation, anyone can use cryptocurrency.
- The time it takes to complete the transfer is usually less than 15 seconds.
- When compared to what banks offer, the transfer fees are low or even non-existent.
For people who want to trade and monitor their crypto holdings from anywhere at any time, there are several trading apps on the market. However, given the large number of apps available, deciding which one to download/install can be difficult for a beginner.
Best apps to Buy Cryptocurrency in India
To assist new investors, we have compiled a list of Best apps to buy cryptocurrency in India, from which you can choose which apps to download and which to avoid. Please note that the order of the apps on the list does not indicate which app is the best; rather, it is a list of apps from which you can choose.
WazirX is currently among the most popular cryptocurrency trading apps in India, due to its marketing and additional benefits. INR, USDT, BTC, and even P2P can be used to invest in a variety of coins. The information page informs you about various contests. Through the settings page, you can also invite and earn.
WazirX provides you with two-factor authentication and an app passcode for added security, as well as notifications for every buy or sell trade you’ve made. It charges a 0.2% charger and maker fees, which is not a part of transaction fee. What separates WazirX from other apps is that you can also use UPI with very less transaction fees, and the minimum deposit can be a low as 100 rupees.
When withdrawing, you can choose ‘make instant withdrawal’ for a fee of 10 rupees and a transaction limit of 2 lakhs. If you need to withdraw more money, you can use NEFT, which has a fee of 5 rupees and a transaction limit of 10 lakh rupees.
Along with the benefits, one should remember that there is no fingerprint lock option available in the app. WazirX has more transaction fees when depositing through bank transfer.
ZebPay, also known as the “Bitcoin Ki Dukaan,” has been offering cryptocurrency investment services since 2015. You can start crypto trading by signing up with your mobile number and completing their “quick KYC.”
ZebPay charges a monthly membership fee of 0.0001 BTC. However, if you are an active investor, you can avoid paying the membership fee. A 0.15 percent maker fee and a 0.25 percent taker fee are charged by the platform. If you enter and exit your order on the same day, ZebPay will reduce your trading fee to 0.10 percent.
The app has a four-digit pin for account security, and you can also access it with your fingerprint.
The app has a refer-and-earn feature, which means that if you successfully sell the idea of crypto trading via Zebpay to someone and they sign up, you will receive 50% of the trading fees generated through your links for a year.
At ZebPay, all crypto deposits are free. On the other hand, there is an INR 15 deposit fee for UPI and 1.77 percent for Net Banking. For all fiat withdrawals, there is a fee of INR 10 and a fee of 0.0006 BTC per BTC withdrawal.
The CoinSwitch Kuber app has a straightforward signup process, and you can create an account simply by entering your phone number. To begin crypto trading, however, you must first complete your KYC. EQUOIA, Ribbit Capital, and Paradigm, one of the most well-known cryptocurrency firms, have all backed the app.
You can trade with more than 100 cryptocurrencies at the best rates and with a variety of payment methods here. During the pre-launch of CoinSwitch Kuber, the company made an offer to the first 100,000 users. They will not be charged a trading fee for the next 100 days.
Some issues faced by the users are: graphs are sometimes inaccurate, slow response from customer support and login issues
Bitbns is a cryptocurrency investment platform based in India that aims to keep things simple, appealing, and secure. Margin trading, pool sales, and crypto drops are all available through the app.
The app requires video verification to complete your KYC. For the wallet’s personal security, Bitbns also employs two-factor authentication and a Google authenticator. You can use your MobiKwik wallet or a credit card to make a deposit. You can also pay using IMPS, NEFT, bank transfer, USDT P2P, UPI, and bank P2P through the app.
The app also has a Fixed Income Plan, which guarantees you a return on your cryptocurrency investments. Their trading fees depends on your trading volume and varies with the amount. However, while looking at the app reviews we found out that they have a slow support system, and the queries of investors weren’t being resolved properly.
Colodax allows you to start investing immediately after downloading the app. They offer a simple and quick signup process as well as KYC verification.
After you’ve completed the verification process, you’ll be able to deposit INR and begin investing. In India, there are currently no laws governing cryptocurrency. Colodax, on the other hand, guarantees that its users will always adhere to government regulations as soon as they are made public.
Colodax offers two-factor authentication and email OTP protection to its users. From the settings tab, you can also enable an authenticator. You can contact their customer service team by submitting a ticket on their website.
You are not charged for deposits on the platform; however, you must pay transaction fees when depositing using specific methods. The trading fee at Colodax is calculated based on the amount of money you trade in a 30-day period.
You can use any of the cryptocurrencies available on the platform to make a deposit. INR can be deposited via bank transfer, NEFT, IMPS, RTGS, and UPI.
Now is not the time to rush; examine the apps and make your own decision.
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