India is considered as one of the fastest developing countries. The banking ban, imposed by central bank The Reserve Bank of India, was upheld by the Supreme Court of India. Since then the sector of online crypto trade is growing more and more. Now that people are showing interest in bitcoin and other cryptocurrencies. All local crypto exchanges are growing fast and gaining increased trade volume and signups. This is shifting the nation’s interest at the time of lockdown.
The less fee and simple access structure is one of the main factors users are choosing a crypto exchange. The growing demand on social media made the exchange centers or crypto trading platform have now lowered their platform. Here is a list of some popular bitcoin and crypto exchanges in India and their charging structure.
Flitpay is one of the most popular exchanges in the country, with free sign up and a minimum charge for trade-in crypto exchange. The Trade commission for filtpay is 0.2% of the trade amount. This cost of trade can be easily recovered from the free gifts from the organization. They give a scratch coupon on every new signup of up to 1000 FTL token which is our own crypto coin. They also have a referral (https://www.flitpay.com/referral) program where people can earn FLT tokens. After getting in touch with the head of the organizer they told us about their new plans “We are planning to lower withdrawal fees for our users over time”.
Zebpay is one of the international organizations for crypto trade. They work in about 162 countries. It has recently been relaunched in the country and began its trade from April 10. For now, they only allow net banking for trade. They charge a minimum amount for joining and charge a monthly membership fee which is in regard to bitcoin approximately ₹75.
Competitive Fees of Crypto trade in India
With the uplift of ban, many new exchanges have emerged to rule in the market. The main focus of these exchanges is offering a competitive fee to their users. One of the popular Indian crypto exchanges is Coindcx, they charge 0.0005 BTC for withdrawals. They have been a competitive organization since the beginning. They deal with all kinds of cryptocurrencies but their specialization in bitcoin.
Another exchange is Unocoin is one of the oldest exchanges in India. They charge 0.7% to buy or sell bitcoin. They also provide a gold membership where the fee can reduce to 0.5%. The Unocoin called itself a place for trade on digital currency.
Cashaa is a London based banking platform. It got itself launched in India last year. It is the most trusted brand in the UK. They trade in Bitcoin, Ethereum, Cashaa, and Tether. They are highly secure and support multiple currencies.
There are many crypto trades in India including Pocketbits where they have 0% trade fees and 0.0003 BTC fee for withdrawal. You can check the fee structure of Pockebits. Another is Giottus offers a minimal joining fee and 0.0001 BTC. A newly developed platform for crypto trade is Bitbns. They charge BTC for every withdrawal of 0.0005 BTC.
In almost all exchange platforms, Indians can deal with INR. The peer-to-peer marketplace is a new platform for online trade and can be seen as a new emerging platform in India. You can use Flitpay for trade as they deal in INR with the simplest format use. India has no direct cryptocurrency regulation but the government is reportedly discussing a regulatory framework for cryptocurrencies with the central bank.