Depending on the payment method, it could take anywhere from a couple of minutes to days for the funds to arrive at the exchange. After signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all exchanges in India. The KYC requirements include a photo of ID issued by the government, a full legal name, and a selfie. The platform does not support NFTs, DeFi, dApps, or margin trading. To complete this step you will need your photo ID readily available to take pictures of both the front and back sides of the document.
This cryptocurrency wallet helped me set trading alerts, trade pairs, and buy various cryptocurrencies. Leaving your coins on an exchange poses a security risk as many exchanges are targets for hackers to steal user funds. Storing your own coins on your personal hardware wallet mitigates bitcoin wallet address blockchain how to trade in ethereum in india that risk. It’s rise to popularity can be attributed to the impressive number of cryptocurrencies they offer, professional attitude, friendly and transparent CEO, and low trading fees. I reviewed Kraken and found it to be one of the most secure and transparent crypto exchanges in the global market. It has prioritized trust, regulatory compliance, and user protection.
Features:
The platform provides cryptography-verified proof of reserve audits. These audits verify the total amount of cryptocurrency held by Kraken. I explored Binance and discovered it to be an amazing platform in India.
Which Crypto Wallet/Exchanges is Right for You?
The tool is one of the easiest ways to trade and store cryptocurrencies. I would recommend this wallet to anyone who is looking for the best option in crypto wallets. Exchanges will differ by fees, security, payment methods, and other features, so explore the “info” tab on the exchanges listed above to find which one is the right fit for you.
BEST Crypto Wallet in India (
CoinDCX has been a game-changer for crypto investors since 2018, tackling the tough problems that held them back. Now, it’s easier than ever for anyone – from casual traders to big institutions – to invest and trade crypto I could access all the features quickly, which was impressive. Once you’ve purchased bitcoin or your cryptocurrency of choice it’s important to withdraw it to your own secure personal wallet.
- India has 5 trusted exchanges available for you to sign up for, with the most popular being Binance and Kraken, which account for a combined 230,000,000 active users.
- The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support.
- Leaving your coins on an exchange poses a security risk as many exchanges are targets for hackers to steal user funds.
- CoinDCX has been a game-changer for crypto investors since 2018, tackling the tough problems that held them back.
Best Bitcoin Wallets for India
There are no geographical restrictions to the service that Changelly provides, so it can be accessed from anywhere in the world. ByBit user funds are stored securely offline in cold wallets and routinely provides Proof of Reserves audits and publishes them to the public. During my analysis, I found CoinDCX to be India’s safest crypto exchange.
- This cryptocurrency wallet helped me set trading alerts, trade pairs, and buy various cryptocurrencies.
- This is an unavoidable legal requirement for almost all exchanges in India.
- I reviewed Kraken and found it to be one of the most secure and transparent crypto exchanges in the global market.
- There are no geographical restrictions to the service that Changelly provides, so it can be accessed from anywhere in the world.
- OKX is a leading cryptocurrency exchange known for its vast selection of cryptocurrencies.
Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency. The exchange you choose will be interoperable with most devices, desktop and mobile, and will allow you to withdraw to your own personal hardware wallet. The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process. It depends on your risk tolerance capacity and your specific needs. For most people, the most secure wallet is a hardware wallet like the Ledger Nano S or Nano X. However, they are more expensive than a paper wallet. It’s best to spread your investments across two or three wallet types.
Also it’s important to note that you can always sign up to other exchanges later.
The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support. Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies. After buying bitcoin from an exchange, it’s important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin. As of now, there is no explicit regulations or any bans on the use of Bitcoin or other cryptocurrencies in India. The Reserve Bank of India’s (RBI) previous ban from banks supporting cryptocurrency transactions, was reversed by the Supreme Court in March 2020.