There could be many who can argue that Satoshi Nakamoto invented Bitcoin. But the unknown/unfamiliar fact is India is the first country to fortify its integrity as a backup monetary system. To recollect, in 2013, India dispersed Bitcoin as Wild West territory and put an end to black money exchange on illegal activities. Thus, without knowing that it was the right time, India made Bitcoin a perfect match for its political and economic conditions.
In 2019, over 500 merchants and India’s five largest companies had initiated cryptocurrency as one of their payment methods. Dell is one of the five that started accepting crypto for payments. On one hand, the number of cryptocurrency users, especially Bitcoin, has been rising day by day.
It is also true that Bitcoin has reached its popular stage and most Indians choose fiat money for investing. While a recent article published by Forbes says that the craze for Bitcoins among investors in India has caught fire. So far there are over 600,000 users in the country who have invested in Bitcoins.
Experts say that the prediction of India regulating Bitcoins will happen in stages. The Indian government will show their acceptance towards these changes and make cryptocurrency the backing of its needs. Since India’s Prime Minister has a vision towards making India completely digitized, several security checks and cross-governance processes have been implemented towards the users of the Bitcoin industry. Thus, we can expect the Bitcoin investment in India to take a toss furthermore.
If you have any plans for Bitcoin investment in India, here are the best cryptocurrency exchange centers you can count upon.
WazirX has scored a 5-star rating among investors for its renowned features and excellent support. This company was newly launched and recently captured by Binance, in March 2020. The company focuses to become the most trusted crypto exchange company in India and support various cryptocurrency pairs. The company has also introduced its own token, the WRX coin, where the buyer can earn 100 free WRX coins as a joining bonus.
CoinDCX is India’s safest and largest cryptocurrency exchange that provides fiat currency to crypto transfers without charging any fees. This enables users to access a distinct suite of financial products and services that are supported by high-end security processes and insurance protection by leading industries. Users are benefited with an integrated suite of products that consists of DCX Insta, a one-stop-shop for peer-peer to purchase hundreds of cryptocurrencies instantaneously with the Indian rupee.
Bitbns is an India-based cryptocurrency exchange started by IIT graduates in the year 2017. After the Reserve Bank of India’s ban, peer-peer (P2P) lending has become the only way to give and take bitcoins. Therefore, along with Bitbns, several other Indian exchanges are working to implement the P2P model. This will enable users to buy and sell cryptocurrency without any intervention of a third-party. Bitbns requires its users to complete the KYC formalities and then start trading with them.
Remitano is a cryptocurrency exchange based out of Seychelles that operates in more than 30 countries including India. It is already following the P2P model and allows users to buy, sell, and trade their cryptocurrencies including bitcoin. The company offers an extensive user interface and provides around-the-clock support to users. Users are enabled to make payments through bank transfer, cash deposit, and mobile money. The company also has a mobile app for both Apple and Android devices even to trade on-the-go.
Giottus is also a newly launched cryptocurrency exchange that works even with the P2P model. It has a quick KYC process and makes it mandatory for users. The exchange center allows the trading of Bitcoin, Ethereum, BCH, Ripple, and Litecoin. It enables a free selling of cryptos and a flat fee of 0.25% for buying. The mode of withdrawals is through Payment gateways, NEFT, IMPS, and RTGS.
#6: Cashaa India
Cashaa was launched in India in 2019, and it is a UK-based crypto banking solution. The exchange allows users to buy Bitcoin, Ethereum, and several other coins and the list does not stop with this. Cashaa is the native cryptocurrency coin of this platform. It initiates and completes same day KYC verification and updates for its users. Users are given a keycard through which they can recover their funds easily.
CoinSwitch allows you to trade among more than 400 cryptocurrencies instantly. The user interface design is very simple and user-friendly too. It allows users to use their credit cards to buy cryptocurrency of their choice.
Wrapping up, the list mentioned in this blog is not an end to cryptocurrency exchange centers. Several other exchange centers can help you with unique benefits/features. Anyhow, Bitcoin investment in India predicts a great future down the line. Do research as much as you can and look for reviews about which crypto exchange is the best to invest in.