1. Coinome
This is a new transaction conducted by the team behind BillDesk (the earliest and most popular receipt payment). The difference between Coinome is that they have E-KYC verification like Indian Telecom. This makes it easy to fill in the information required for the exchange.
Currently, Coinome supports Bitcoin and Litecoin – currently the two largest cryptocurrencies. You can trade 24/7, and the transactions on your mobile device are also flawless. If you can't sell or buy more bitcoins during the journey, that's great. We found that the platform is very suitable for beginners, which is a great advantage.
2. Zebpay
If you’re interested in trading Bitcoin with your mobile, then Zebpay is the choice for you. Formerly known as BuySellBitco, Zebpay is an app-only exchange. They also allow for buying services using Bitcoin such as Amazon gift cards, Cafe Coffee Day, Flipkart and PizzaHut, you can pay with Bitcoin to recharge your mobile phone, DTH, and data card. They are soon adding the ability to pay for Broadband, landline & electricity bills.
This exchange is quite different from the rest of the exchanges in this list. This is a great exchange for those that want to be able to use their bitcoins rather than only trading them, as well as for those that want to buy bitcoin in India with their mobile.
It’s user-friendly and it is easy for a beginner to get started right away. You just download the app and register yourself, upload a picture of your PAN card and voilá, you can start buying and selling Bitcoin – right from your mobile phone.
We highly recommend you to use this app, available for both Android and iOS, if you want an exchange that allows you to actually use the bitcoin you’ve bought.
3. Koinex
Next on our list of the best cryptocurrency exchanges in India is Koinex. With a wide set of cryptocurrencies offered (however, not as many as Coindelta), this is a great candidate for the top spot. They allow trading with BTC, BCH (Bitcoin Cash), Ethereum, Ripple, and Litecoin. The best part about this exchange is the time it takes to deposit INR – since they have automated the system, it doesn’t need to go through humans before being deposited – which greatly speeds up the process (since machines can work 24/7). The normal KYC verification takes about 24-48 hours, which might seem like a long time at first, but once you’re accepted, there’s no waiting time involved. Koinex has launched new services to make crypto trading possible in India.
4. Unocoin
Unocoin is often referred to as the most beginner-friendly of them all, and we highly agree. Getting started is easy and they offer a lot of features and consistently adding more. If you want to use Bitcoin as a SIP (Systematic Investment Plan), then Unocoin is the coin for you. You can set a daily, weekly and monthly budget for buying Bitcoin with.
This is what Unocoin says about their SIP feature:
“Systematic Investment Plan is a new and exciting way to acquire Bitcoin – the first of its kind that is introduced by Unocoin. This is a more conservative approach to investing in bitcoin than spending all your money on Bitcoin at once. This technique allows you to commit to a fixed INR amount on Bitcoin on a regular schedule regardless of the price. […] This feature helps with financial discipline by averaging out your cost and thereby reducing risk resulting in generating better returns.”
As of right now, you can invest 50,000 INR on a daily, weekly or monthly basis.
Other features that make Unocoin an excellent Bitcoin exchange:
Over the counter trading (OTC Bitcoin trading)
Auto-selling Bitcoin (set a rule on when, and it will sell – even if you’re asleep)
Netki: Makes it easy to generate a human-readable address for your Bitcoins
Powerful API: With a powerful API you can use Unocoin to integrate Bitcoin as a payment method in your app or in your business
2-step authentication to always make sure your account is secure
As mentioned earlier, Unocoin has an Android and iOS app which makes it easy for you to trade Bitcoin even if you’re on the go. This is good if any news about bitcoin is dropped and the price plummets (so that you can buy more BTC in the dip, that is).
5. LocalBitcoins
LocalBitcoins is a peer-to-peer exchange that is available worldwide. It’s not an exchange per se, rather it is a marketplace where those who want to buy bitcoin connect with those that want to sell it. You can find many types of payment methods available such as cash, PayPal, WesternUnion, Amazon Gift Codes, to name a few.
There are many that look into buying Bitcoin in India with PayPal, and for those LocalBitcoins is really the best choice to date. They have a 2-step authentication each time you log in, and yet another authentication if you log in from a new device.
The only con about this exchange is the price of it. Bitcoin can often be over-sold on LocalBitcoins or priced way over market price. This can be worth it if you want to buy Bitcoin anonymously, but if you’re looking to buy it and hold it long-term, go for one with a lower price (fees).
Buying Bitcoin with cash requires a physical transaction. Make sure to do it in a public space with people around you so that you don’t get robbed.
