Indian crypto exchanges review

Crypto exchanges in India


If you are still not aware of cryptocurrency, let me try to explain it before talking about exchanges. 

cryptocurrency is a digital asset or digital currency which is mostly not controlled by any centralized authority, sometimes referred as tokens. They are built on top of blockchain technology which is evolving day by day.

Advanced cryptographic algorithms are used to build these coins, so transactions made using any crypto is secure and cannot be modified or hacked once initiated. Also to note that the transactions are irreversible, this means we should be careful and make sure that we are using right address while transferring any cryptocurrency to other wallets.


Transactions made using crypto are generally recorded in a distributed ledger normally maintained by the community.

Transaction status/balances can be viewed by anyone but cannot be modified once recorded. Each transaction must me confirmed by set of nodes which are run by miners. For example any etherium transaction/node confirmations can be viewed at or, similarly ripple transactions @ We need to just enter the transaction hash to find out the transaction status.

How it works ?

You own a wallet which generally has a public address, if anyone has to transfer you crypto they transfer it to your public wallet address. 

Wallets can be normal wallets which are generally created at any crypto exchange and you own that wallet.

You could also own a private wallet, for example you could create a wallet address at myetherwallet. Here you need to save your private key to access your wallet anytime. There is more explanation about private wallets below.

Crypto Exchanges in India

At this point there are few trusted Indian websites where you can buy and sell cryptocurrency, some are like zebpay, unocoin etc.. Here you should buy at a specified rate and sell at specified rate as mentioned in the website, there could be lot of difference between the buy and sell rates.

But there are also few trusted exchange sites where you can trade crypto like koinex, coinsecure, bitbns, coinome etc.. The main benefit here is that you could sell crypto at market rate and there are always buyers who would like to buy at that rate. You could also define/set a buy or sell rate at which you would like to buy/sell crypto.

Website reviews, where to buy crypto in India

Even though there are many sites where you can trade crypto, there are very few which are good in terms of trust, exchange fees, email support etc..

coinsecure was one of the first exchanges in India where you could buy sell bitcoin. The main disadvantage of coinsecure is their trade fee (0.4%) which is little higher than few other exchanges like koinex, bitbns and coinome. It only supports bitcoin for now.

koinex provides good exchange rate at low trade fee (only upto 0.25%) and millions have already registered there. They support more coins like bitcoin, ethereum, bitcoin cash, ripple and litecoin. They used to provide instant deposits, withdrawal of INR earlier, at this point they have some limitations on INR withdrawal/deposits and trying for a permanent fix.

bitbns is a new exchange site started in December 2017, it is developed/maintained by the team behind famous buyhatke extension. Site supports bitcoin, ripple and have plans to add neo and tron. They are providing very low exchange fees. Deposits are instant using UPI, withdrawal time is also better compared to few other sites at this point. KYC is also super quick.

coinome is a crypto exchange with supported coins like bitcoin, bitcoin cash, litecoin and dash. It is backed by billdesk team and attracts new investors with very low exchange fee. KYC is approved within an hour and deposit/withdrawal of INR is also fast.

btcxindia and ethexindia offers crypto trading of ripple and ethereum, both are operated by the same company. They are not so good exchanges since they never approve your KYC or allow new signups at this point.

I will keep updating this space as new crypto exchanges emerge in India or major changes with above mentioned exchanges

  • Exchange – koinex
  • Buyer fee – 0.25%
  • Seller fee – 0.2%
  • Lower fee for large trade volume.

Withdrawal fee

  • INR – free
  • BTC – 0.001 BTC
  • BCH – 0.001 BCH
  • ETH – 0.003 ETH
  • LTC – 0.01 LTC
  • XRP – 0.02 XRP
  • Exchange – coinsecure
  • Buyer fee – 0.4%
  • Seller fee – 0.4%

Withdrawal fee

  • INR – free
  • BTC – 0.0001 BTC
  • Exchange – bitbns
  • Buyer fee – 0.25%
  • Seller fee – 0.25%
  • Lower fee for large trade volume.

Withdrawal fee

  • INR – free
  • BTC – 0.001 BTC
  • XRP – 0.1 XRP
  • Exchange – coinome
  • Maker-Taker model
  • Maker fee – 0.1%
  • Taker fee – 0.3%

Withdrawal fee

  • INR – free
  • BTC – 0.001 BTC
  • BCH – 0.001 BCH
  • LTC – 0.005 LTC
  • DASH – 0.001 DASH

* BTC – bitcoin, BCH – bitcoin cash, ETH – ethereum, LTC – litecoin, XRP – ripple

More about maker-taker at

Wallets and security

We need to make sure to enable 2 factor authentication in any exchange so that our account doesn’t get hacked.

For crypto like ethereum there are few trusted sites like myetherwallet where we can create our own private wallet. It is very simple to create a wallet address and access it using private key or keystore file. It is our responsibility to safely store the private key or keystore file, if they are lost there is no way to gain access the wallet again.

We could transfer ethereum or erc20 tokens to the private wallet from exchange sites and vice versa. People unaware of security risks related to private wallet should first read comments at

We could also download wallets specific to any coin for windows/linux/mac from the official website of any crypto and create our own private wallet address. 

There are also hardware wallets like ledger nano, trezor etc.. where crypto coins can be stored offline and supports multiple cryptocurrencies.

Global exchanges

We can transfer any cryptocurrency from indian exchanges to global exchanges and start trading other coins which are not supported by local exchanges. For example we can transfer bitcoin, eth, xrp ..etc from local exchange to sites like binance, bitrex, cryptopia, bithumb etc.. and start trading other coins with BTC or ETH. Make sure to check the coin withdrawal and trading fee of the local and global exchanges, transferring ripple would cost much lower than ethereum or bitcoin. We need to transfer back crypto to any local exchange to convert it to INR.

ICO’s and blockchain related apps

A group of blockchain enthusiasts, companies raise funds for their projects using tokens in the form of initial coin offerings(ico), anyone can help raise funds by buying their tokens/coins using ethereum or bitcoin. Investors get tokens and as the project succeeds/progress, value of the token rises and there is more scope of trading the tokens at higher price at any exchanges later. 

It is said that many of the ICO’s could be fake, so we need to be careful while investing into any of them, read the whitepaper and reviews.


There are many apps already built and live on top of existing blockchain technology like ethereum, for example the famous cryptokitties which is a virtual game built on top of blockchain technology.

Most of the icos make use of ethereum blockchain and build erc20 tokens, they differ from ether. Tokens are digital assets and hold a value, they are smart contracts that make use of ethereum blockchain.

There are many other applications coming up as blockchain technology is emerging in every segment which is either controlled by a centralized authority or there is middle man involvement.

Government and crypto markets

There are many ups and downs in the crypto market due to the news which come up regularly with some governments banning the trade of cryptocurrency, people generally panic in this situation and sell off their digital assets.

Since millions of users are already in the market and invested a lot of their hard earned money, most of the govts are trying to regulate the exchanges and make sure the capital gains are taxed properly.

Almost all the exchanges deal with KYC process before allowing the users to invest into crypto. Eventhough trading can be done in any foreign exchanges without the need of any KYC, in the end one has to withdraw from local exchanges which makes tracking of capital gains. So it is difficult for anyone to evade tax on their gains. Their are some guidelines on how to file the income tax for the gains from crypto.

Finally it looks like crypto market is gaining a lot of interest from public from past few months and many technology enthusiasts are getting involved. Big players in the market already have the plans to get involved into blockchain technology and develop their own coins.

This post is just based on my understanding and I believe that this is the right time to invest. Remember, always make sure to buy the dips and hodl till you get some profits out of your investments, and don’t forget to pay the taxes for the capital gains.

 Do let me know your thoughts in the comments section.

6 thoughts to “Indian crypto exchanges review”

  1. Bitcoin has increased in value by over 3000 in the last few years alone. The Crypto World is exploding with potential right now – this is the time to start and profit!

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