Best Crypto Exchange in India: Top Crypto Exchanges with Low Fees and P2P Options

I. Introduction

Indians have been investing in, trading in, and transferring money using cryptocurrencies for several years now. Despite the setback caused by the Supreme Court ban, the lifting of the ban in 2020 and increasing demand for cryptocurrencies have led to the emergence of numerous exchanges in India. However, Indians are particularly concerned with the availability of INR trading pairs, competitive fees, security, and the legal status of the exchange.

This article will give you an overview of the Indian crypto-exchange ecosystem, list the parameters to consider when choosing an ideal exchange, and finally, list the top 10 Indian exchanges, including P2P platforms.

Beginners looking to buy crypto in India should first compare exchange fees, INR support, and security features.

II. Overview of Indian Crypto-Exchanges

Size: India ranks as the tenth-largest market in the world in terms of trading volume, with the daily volume amounting to over $2 billion.

Legality: Although the Supreme Court lifted the ban in 2020, the RBI still prohibits banks from providing services to cryptocurrency exchanges. The government is drafting a Crypto Regulation Bill to license the exchanges and outline the scope of permitted activities.

INR Deposits and Withdrawals: Majority of Indian exchanges offer INR deposits and withdrawals through UPI, IMPS, NEFT, and bank transfers. Thus, you do not need to deal with foreign exchanges.

No. of Users: The Indian exchanges have more than 10 million registered users, consisting mostly of retail traders. Institutional players are also beginning to take part.

Top Players: Indian exchanges include WazirX, CoinDCX, ZebPay, Bitbns, Unocoin, and CoinSwitch Kuber. International exchanges offering INR pairs include Binance and KuCoin.

Three key parameters have emerged in the Indian market:

Fees and commissions: Indians are keenly comparing maker-taker fees, withdrawal fees, and other hidden fees.

Liquidity: Exchanges offering liquid markets, especially for high volume pairs such as BTC/INR, ETH/INR, etc., are attracting traders.

Trust and Compliance: Given the sensitive nature of the RBI restrictions on banks, exchanges that comply with the KYC regulations and clearly communicate their policies are gaining trust.

III. Parameters for Choosing the Best Indian Crypto-Exchanges

Below are the parameters you must consider when selecting the best Indian exchange.

Compliance with Indian laws: Exchanges adhering to the RBI and upcoming crypto bill regulations minimize the risk of freezing accounts.

Fees and commissions: With high volumes, even a small maker-taker fee and withdrawal fee could eat into your profits. Moreover, ensure the exchange does not charge hidden fees.

INR support: Exchanges that offer INR on-ramp and off-ramp reduce the complexity of transferring money via UPI, IMPS, and bank transfers. Ensure the exchange offers this service.

Liquidity and Order Book Depth: High liquidity and order book depth ensure that your trades are executed at a fair market price.

Note: You can also use our crypto exchange finder tool to find the best exchange for yourself.

Top 10 Best Bitcoin Exchanges in India

Every exchange in India is evaluated against five key criteria to be considered the best Bitcoin exchange:

Security Protocols: Two‑factor authentication (2FA), cold‑storage ratios, and insurance cover protect against hacks, a critical concern after high‑profile breaches worldwide. Long-term investors should also learn how to store crypto safely using secure wallets and cold storage solutions.

Asset Variety: Availability of popular tokens (BTC, ETH, USDT, BNB) as well as emerging DeFi and NFT‑related assets.

User Experience: Intuitive mobile/web interfaces, educational resources, and responsive customer support foster adoption among newcomers. Many investors also compare the best crypto apps before choosing a platform for daily trading.

P2P Functionality: Peer‑to‑peer marketplaces allow users to bypass banking restrictions and obtain better rates via direct buyer‑seller matching.

Reputation & Longevity: Established platforms with a track record of stable operations inspire confidence.

An exchange that scores well across these dimensions can be deemed the best crypto exchange for India.

Detailed Review of the Top 10 Crypto Exchanges in India

Below is a concise yet comprehensive assessment of the ten most prominent exchanges that Indian traders rely on. Each entry includes core features, fee overview, legal standing, and a brief “pros‑cons” snapshot.

WazirX

Founded: 2018 (acquired by Binance in 2019)

INR Support: Direct UPI, IMPS, NEFT deposits/withdrawals.

Fees: 0.2 % maker, 0.2 % taker; free INR deposits, INR withdrawal ₹25 (up to ₹5,000 per day).

Security: 96 % funds in cold storage, 2FA, device‑based authentication.

P2P: Integrated WazirX P2P marketplace with zero‑fee trades (platform charges only a nominal network fee).

Legal Status: Operates under KYC/AML guidelines; complies with RBI’s banking restrictions by partnering with third‑party payment aggregators.

Pros: Largest domestic user base, robust liquidity, seamless Binance integration for cross‑exchange arbitrage.

Cons: Customer support can be slow during peak traffic; occasional UI lag on low‑end devices.

CoinDCX

Founded: 2018

INR Support: UPI, bank transfers, and crypto‑to‑crypto deposits via CoinDCX Pay.

Fees: 0.1 % maker, 0.2 % taker; INR withdrawal ₹15 (minimum).

Security: 95 % cold storage, biometric login, regular security audits.

P2P: CoinDCX P2P (beta) enables direct INR trades without exchange fees.

Legal Status: Fully KYC‑compliant; maintains a liaison with RBI to ensure banking continuity.

Pros: Low fees, extensive token list (300+ assets), educational “DCX Academy”.

Cons: Limited fiat‑on‑ramp for certain smaller banks; higher spreads on low‑volume altcoins.

ZebPay

Founded: 2014 (one of India’s oldest exchanges)

INR Support: UPI, NEFT/RTGS, and wallet‑linked payments.

Fees: 0.15 % maker, 0.15 % taker; INR withdrawal ₹20 (free up to ₹2,000 per month).

Security: 90 % cold storage, 2FA, device fingerprinting, and a “ZebPay Shield” insurance fund.

P2P: No native P2P; users can use external P2P platforms.

Legal Status: Self-Regulatory Organization (SRO), adhering to the latest RBI policy.

Advantages: Industry pioneer, intuitive interface for new users, mobile-first interface.

Disadvantages: Lower liquidity compared to WazirX & CoinDCX, relatively basic charting interface.

Bitbns

Established: 2017

INR Deposit & Withdrawal: UPI, IMPS, NEFT. Bitbns also supports instant INR deposits via Razorpay.

Trade Fee: 0.25 maker %, 0.25 taker %

INR Withdrawal Fee: ₹20 (first three withdrawals are free in a month)

Security Features: 94 cold storage, 2-factor authentication, anti-phishing code.

P2P: Though still in the pilot phase, Bitbns P2P allows users to trade directly in INR with fixed prices.

Legal Status: Though fully KYC-compliant, Bitbns abides by RBI’s “no direct banking policy” through its partner banks.

Advantages: Most Indian tokens like SAND, MATIC are listed on this platform, staking & Earn offerings.

Disadvantages: High trade fee for low volume users, large INR withdrawals can take some time.

Unocoin

Established: 2013 (initially a Bitcoin wallet).

INR Deposit & Withdrawal: UPI, IMPS, NEFT. Unocoin also offers Systematic Investment Plan (SIP) for Bitcoin & ETH.

Trade Fee: Flat 0.2 % on trade

INR Withdrawal Fee: ₹30 (free up to ₹1,000 in a month)

Security Features: 95 cold storage, 2-factor authentication, device registration.

P2P: No direct P2P support, but Unocoin is associated with 3rd party fiat to crypto P2P platforms.

Legal Status: Runs with a “Money-Transfer license” & follows RBI’s KYC guidelines.

Advantages: Instant “Buy Crypto” interface, SIP for users, brand value.

Disadvantages: Only a limited number of assets (primarily BTC, ETH & USDT) are available, high altcoin spread.

CoinSwitch Kuber

Established: 2017 (aggregator).

INR Deposit & Withdrawal: UPI, bank transfer, and deposit/withdrawal support for various exchanges.

Trade Fee: No trade fee, only spread earned from partner exchanges

INR Withdrawal Fee: ₹25

Security Features: 2-factor authentication, wallet encryption, security audits on partner exchanges.

P2P: No direct P2P support, only available on the partner exchange.

Legal Status: Being an aggregator, it doesn’t fall under the direct purview of RBI, yet it mandates KYC for users.

Advantages: An aggregate interface to trade on 30+ exchanges at once, good for rate-sensitive users.

Disadvantages: Low order book depth, dependent on partner exchange.

Binance India (Binance P2P)

Established: 2017 (globally).

INR Deposit & Withdrawal: UPI, bank transfer, Binance P2P for fiat-crypto trade.

Trade Fee: 0 trading fee on P2P, standard 0.1 maker % & 0.1 taker % on spot.

INR Withdrawal Fee: NA

Security Features: 95 cold storage, SAFU fund, device-based 2-factor authentication.

P2P: A good P2P marketplace with 0 trading fee, zero trading fees, seller sets INR price & buyer pays only network fees.

Legal Status: Operates under a foreign exchange model, follows RBI’s KYC & AML guidelines but often gets scrutiny from the RBI.

Advantages: High liquidity, token offerings, futures & options interface.

Disadvantages: Lack of clarity on the legal front, Intermitting connectivity issues with fiat gateway

KuCoin

Year Established: Global (2017)

INR Support: Supported through KuCoin Pay and other third-party gateways (UPI, Bank Transfers, etc.)

Trading Fee: 0.1% (Maker), 0.1% (Taker), ₹30 (INR Withdrawal Fee)

Security Features: 93% assets in cold storage, Two-factor Authentication, Multi-signature technology

P2P Trading: Supported (Beta version of KuCoin P2P) with minimal trading fees, direct trading in INR

Legality in India: Currently operating as a ‘Crypto to Crypto’ platform, KYC mandatory before any fiat transactions

Advantages: Listing of various DeFi and relatively new tokens, Newly listed token projects can be found in ‘KuCoin Spotlight’

Disadvantages: Comparatively lower liquidity in INR market, Restrictions from the banking end, in some cases

Giottus

Year Established: Fast growing (2020)

INR Support: Supported (UPI, IMPS, NEFT), instant deposit possible through Paytm

Trading Fee: 0.1% (Maker), 0.2% (Taker), ₹15 (INR Withdrawal Fee), free up to ₹2500 per month

Security Features: 95% assets in cold storage, Two-factor Authentication, Device Whitelisting

P2P Trading: Giottus P2P (launch in 2023), enables peer-to-peer trading in INR, zero trading fees applicable

Legality in India: Compliant to the KYC norms, partnered to RBI registered Payment Gateways

Advantages: Lower trading fees, Faster settlement of INR, Excellent mobile application

Disadvantages: Limited number of coins listed, Limited knowledge resources

Bitbns

(Note: Bitbns is listed twice, as a reminder of the exchange’s popularity. Second listing is for Bitbns’s staking and lending feature.)

Staking and Lending: Offers up to 12% APY on certain coins, ideal for long term investors

Fees on Staking: Nil, only trading fees are applicable

Legality: Same as above (listed as S. No. 8), fully KYC compliant

Advantages: Passive income option, ‘Earn’ section available in a very user friendly interface

Disadvantages: APY may vary, Lock in period to be monitored

Legality and Regulation of Crypto Exchanges in India

Supreme Court Judgment (2020): The ban on cryptocurrency trading was declared unconstitutional, and hence the exchanges resumed functioning

RBI Circular (2022): Banks were restricted from serving cryptocurrency businesses. To overcome this issue, exchanges collaborate with ‘payment aggregators’ (for example, Razorpay, PayU), who mediate the transaction between the bank and the exchange

Cryptocurrency Regulation Bill (proposed, yet to be implemented in 2024): Likely to propose a license system for exchanges, tax implications, and anti money-laundering (AML) compliances. Though the bill is pending in the parliament for approval, compliant exchanges are already strengthening the KYC/AML compliances

Tax implications: W.e.f. FY 2023-24, profit from cryptocurrencies shall be taxed @30% (plus surcharge and cess), without any provision to adjust against loss from other investments. Exchanges have now started providing ‘tax statement generator’ to ease the process

Implication to the User: Choosing an exchange, with a defined compliance policy, will reduce the risk of account suspension, and ease tax reporting

Low Fee Exchanges and P2P Options

Low Fee Exchanges

CoinDCX: 0.1% maker fees, nominal withdrawal fees

Giottus: 0.1% maker, ₹15 withdrawal fee in INR.

CoinSwitch Kuber: No trading fee (only spread).

The above-mentioned exchanges are the best for Frequent Traders & Institutional Players who want to minimize their trading cost.

Benefits of P2P Exchanges

No Trading Fee: On P2P exchanges like WazirX P2P, Binance P2P & Giottus P2P, there are no trading fees, only network fees.

No Banking Restrictions: Most P2P transactions happen through UPI which is not restricted by any bank which has discontinued its services for fiat-crypto transactions.

Cheaper Rates: Buyers can see multiple rates (offered by different sellers) in real time and buy at the best rate. In many cases, it is cheaper than regular exchanges.

Cheapest P2P Exchanges For Indians

WazirX P2P: ₹100 minimum order, 0.5% – 1% spread, Instant (UPI) settlement

Binance P2P: ₹500 minimum order, 0.4% – 0.9% spread, < 5 minutes settlement

Giottus P2P: ₹200 minimum order, 0.6% – 1.2% spread, Instant (UPI) settlement

What’s Next For Indian Exchanges?

Investors trying to understand the crypto market should monitor regulation, institutional adoption, and exchange liquidity trends.

Licensing: Once the Crypto Regulation Bill is passed, there will be a concept of licensing which will create a hierarchy of exchanges into “Licensed Exchanges” who will have access to banking services and “Un-Licensed Exchanges” who might not have access to the same.

UPI Integration: With UPI integration, time taken to settle fiat-crypto transactions will become instant. It will make the P2P & Spot market almost the same.

Staking & Yield Farming: To circumvent the regulation, most exchanges will start offering staking & yield farming options to their users. We can also expect liquidity mining, synthetic asset offerings & loan offerings against cryptos based on Indian credit profile.

Institutional Players: Once there is clarity on the regulations, we will see a lot of institutional players entering the market. We can expect mutual funds, hedge funds & corporate treasuries to enter the market. All of them will be looking for high liquidity & low fee platforms.

Overall, in the next 2-3 years, things will look very positive for the retail investors in India in terms of security, cost & accessibility.

Conclusion

India has one of the most active crypto-exchange markets. While choosing an exchange, an Indian user should look at factors like,

Regulatory (Compliance Status): Are they complying with the existing regulations? Will they be able to get a license once it is legal?

Fees (Trading, Withdrawal, Deposit): What are their fees? Are they the lowest in the industry?

INR Support: Do they support fiat (INR)? Do they have a P2P option?

Liquidity (For Trading): Do they have high liquidity? Will I be able to buy/sell my cryptos whenever I want?

Security (For Assets): Are they secure? Is my money safe with them?

Understanding platform security is essential for anyone interested in trading crypto safely in India.

P2P (For Better Rates): Do they have a P2P option? Will I get better rates?

Based on the above factors,

WazirX & CoinDCX are overall best exchanges which offer a wide array of asset classes & high liquidity.

ZebPay & Unocoin are great for new investors as they have a simple user interface.

Giottus & CoinSwitch Kuber are great for people looking for the lowest trading fee. They also offer best price across exchanges.

Binance & KuCoin offer one of the best global markets. However, as an Indian user, you should be cautious & keep a watch on how the regulations unfold.

In short, there is nothing called as the “best crypto exchange” in India. It depends on what you value the most. Is it the lowest possible fee, best rates via P2P, a wide array of token listings or the most secure infrastructure for your assets? As long as you keep yourself updated about the regulatory environment & utilize the benefits of the platforms mentioned above, you are all set to reap the benefits of the crypto market.

For broader exchange reviews, wallet tips, and market education, explore this complete India crypto guide.