Many of these platforms accept INR for purchases and trading fees as low as 0.1% so simple, fast, and secure platforms present a lucrative opportunity for both first-time investors and local traders.WazirX is one of the leading cryptocurrency exchange platforms with over 900,000 users that provides customers with peer-to-peer transaction capabilities.
CoinSwitch Kuber provides the best cryptocurrency exchange platform for Indians and is ideal for beginners as well as daily doers. Unocoin is one of the oldest cryptocurrency exchange platforms in India that account for over a million traders through mobile applications.
CoinDCX provides users with 100+ cryptocurrencies as an option to make exchanges and even provides investors with insurance to innosillicon losses in case of a security breach. So, global investors are eyeing the plethora of cryptocurrency exchange platforms in India to take advantage of the emerging market.
The legislative bill regarding a ban against a virtual currency that would criminalize anyone engaged in possession, issuance, mining, trading, and transferring crypto assets might get enacted into law. However, Finance and Corporate Affair Minister Nirmala Sitharaman eased some investor’s concerns saying that the government has not planned to completely bar cryptocurrency use.
In a statement given to a leading English newspaper, Deccan Herald, the Finance Minister said, “From our side, we are very clear that we are not shutting all options. We will allow certain windows for people to do experiments on the blockchain, bitcoins, or cryptocurrency.” It is evident that the government is still scrutinizing the national security risks posed by cryptocurrencies before deciding on putting a complete ban.