The cryptocurrency market has been on a tear of late, with Bitcoin, for example, reaching its all-time high of $20,000 in December 2017.
However, the cryptocurrency market is very volatile and can experience wild swings on a daily basis. If you are looking to buy some Bitcoin or other cryptocurrencies in India then you will need to first find an app that lets you do so.
Here are the 6 best apps to buy cryptocurrency in India. Check out the list below.
What is a cryptocurrency exchange App?
A cryptocurrency exchange app is a software application that helps in trading or exchanging cryptocurrencies. A cryptocurrency exchange app allows transactions of digital currencies such as bitcoins, Ethereum, and Litecoin.
The following are the 3 types of cryptocurrency exchanges:
Centralized Exchange: In this type of exchange, the company that owns the platform controls the money and data flow. The centralized exchanges have been hacked in the past.
Decentralized Exchange: In this type of exchange, no single person or organization has control over funds and data. It is a peer-to-peer network instead of a public ledger for transactions.
Hybrid Exchange: Hybrid Exchange means an entity is not centralized but also not fully decentralized either; It is somewhere between these two types of exchanges that generally have less.
Hybrid exchanges are a new type of cryptocurrency exchange that utilizes both centralized and decentralized services. Hybrid exchanges use centralized systems to provide stability and uptime, while also using decentralized networks to provide users with more options and greater control over their funds.
Also Read: Best 5 Cryptocurrency Stocks to buy now
Is Cryptocurrency App safe to buy?
Cryptocurrency App is a free mobile app for iOS and Android which helps you trade Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies.
The answer to the question is not 100% yes or no. The cryptocurrency app is safe if it has been downloaded from the official website of the company.
So there are many things that can be monitored to ensure that it is a safe app to download and use.
There are many things that can be monitored before downloading or using a new app on your phone.
You should also set up a security code for your device and make sure that any passwords you have are strong and modern-day thieves are more technologically savvy than ever.
They can see right through your old-fashioned security measures. That’s where good, strong passwords come in.
You should also set up a security code for your device and make sure that any passwords you have are strong and difficult to guess.
6 Best Apps to Buy Cryptocurrency in India
WazirX is a popular crypto trading app that allows you to trade in Bitcoin and other cryptocurrencies.
It is a new exchange that was founded in April 2018 by the team behind WazirX.com, an online cryptocurrency trading platform.
The app is available both on the App Store and on the Google Play store.
The company offers two types of accounts, standard and premium accounts. Standard account holders can trade in Indian Rupees (INR).
Premium account holders can trade with 15 different cryptocurrencies including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Litecoin (LTC). They also have two types of exchanges- instant orders and a limit orders.
As the instant order is a small-ticket item, users will only be charged a small amount each time they place their order. The orders can be paid at any time and the items will be delivered within the next business day.
The cost of using WazirX is not specified. It charges 0.2% per trade but does not list the fee per transaction.
2. Binance- popular global crypto exchange
Binance is one of the most popular global crypto exchanges.
Binance was founded in 2017 by Changpeng Zhao with an ICO (Initial Coin Offering) in July of that year. It’s headquartered in Hong Kong and has offices in Tokyo, Ho Chi Minh City, and New York.
The company offers a variety of digital assets for trading and investing including cryptocurrency coins such as Bitcoin, Ethereum, XRP, EOS, Litecoin, and many more.
The website also offers a beta test platform for the new decentralized exchange which Changpeng Zhao announced on Twitter in January 2018.
Binance has grown rapidly after surpassing Bittrex as the largest cryptocurrency exchange by trade volume.
Binance offers different trading fees with the default being 0.1% with an option to lower down to 0.5% for instant buy/sell trades.
Also Read: 5 best cryptocurrency to invest
Zebpay is one of the oldest apps for cryptocurrency trading. They offer mobile trading of Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
To sign up for services, users first have to complete their KYC or Know-Your-Customer. This process typically requires users to upload a photo ID and fill out an online form. For this service, all you need is your phone number.
It has a user-friendly interface and security features to ensure the safety of your transactions.
The app offers the following services:
- Mobile cryptocurrency trading
- Instant conversion to Indian rupees on all transactions
- Wallet service for storing cryptocurrencies securely
- Latest news about cryptocurrencies and their market prices
The platform charges you a 0.15% maker fee and a 0.25% taker fee. This means that you are charged 0.15% when you buy an asset and 0.25% when you sell an asset, which is the same as the industry average for exchanges that operate this way.
CoinSwitch is a cryptocurrency exchange platform that is designed keeping in mind the needs of both newbies and experienced traders. The platform offers more than 300 different cryptocurrencies to trade across more than 45,000 crypto pairs.
CoinSwitch acts as a crypto-exchange aggregator, comparing rates across various exchanges for any given trade. This means that it doesn’t actually hold onto its customers’ funds or coins at any point in the process of buying or selling coins.
This app has been backed up by SEQUOIA, Ribbit Capital, and Paradigm. The app is designed to “save you time and help you make the most of your ideas.” Users can access templates for blog posts, social media posts, articles, emails & more at a fraction of the cost.
They will not be charged a trading fee for 100 days.
Also Read: How to start bitcoin trading in India
Bitbns is an Indian crypto exchange platform. It offers trading in BTC, ETH, LTC, BNB, BTG, and a few other altcoins. The platform currently has about 160 listed coins and tokens with a daily trade volume of $4.2 million USD.
This is the beta version of our new UI/UX design where you can create your own account and experience what it feels like to trade on Bitbns.
Bitbns uses AI to create its crypto content strategies that are designed to increase crypto awareness among customers. The platform recently raised $1 million in funding.
Bitbns, a Bangalore-based cryptocurrency exchange platform, has announced a flat 0.25% trading fee on all transactions. In comparison to other platforms that charge anywhere between 0.5-1% in fees, this is one of the highest in the market.
Also Read: 5 cryptocurrency scams you should avoid
Unocoin is one of the most popular cryptocurrency apps in India. It has an easy-to-use interface and offers a lot of convenience for digital asset trading and investing in the Indian rupee.
Unocoin, which was founded by Sunny Ray and Sathvik Vishwanath, has been on the market for over three years with just a few interruptions due to maintenance. The app is available on both iOS and Android platforms with an intuitive user interface that enables users to trade cryptocurrencies without any hassles.
India’s first Bitcoin exchange started out in 2014 while the country’s central bank still considered cryptocurrencies illegal under present regulations.
Now, the company boasts over six million users around the world who need to access their crypto holdings through the Unocoin app on Android or iPhone devices.
Unocoin charges a 2.3% fee on both buy and sell transactions with no minimum transaction amount. After you meet the 60-day minimum, they charge effectively a 0.7% fee on all transactions with cards marked ‘Gold’ or higher (0-1% maker fee and 0-1% taker fee).
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