Buy Bitcoin & Crypto in India
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India is a mixed bag in terms of its stance on Bitcoin and blockchain. While you are allowed to own and buy Bitcoin in India, its use is heavily regulated and monitored. India is also considering issuing its own digital currency (to fight what it calls ‘black money’).
LocalBitcoins daily trading volume in India is .... The current price of Bitcoin is .... There are ... Bitcoin ATMs available to India residents. And ... businesses accept Bitcoin in India.
Most Popular Exchanges in India
Kraken
Founded 2011
Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.
Bitcoin & Cryptocurrency Trading in India
The cryptocurrency exchange you use will depend on what your goals are. Some people buy only bitcoin, while some buy many cryptos. Some trade, while some buy and hold.
We'll outline some of the best options for each type of buyer and trader.
Best for Trading
If you plan on trading in and out of different coins, the following exchanges support many cryptocurrencies:
- — Cex.io
- — Kraken Pro
Now, let's give a bit deeper into some of the exchanges mentioned above with our detailed overviews.
Top Cryptocurrency & Bitcoin Exchanges in India
Founded 2011
Kraken Popular
Founded 2011Kraken Popular
Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.
Visit Site MorePROS
CONS
Supported Fiat:Yes
Payment methods include:Debit Card Bank Transfer Cash BACs Chaps
Headquarters: San Francisco, USA
Ease of Use
Super easy
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Excellent
Limits
Medium
Best Bitcoin Wallet for India
Bitcoin wallets are just software or hardware, so the truth is that wallets can work in any country.
However, we've highlighted some Bitcoin wallets we think would be good for India users here.
Trezor Model T
Secure storage with high res color touch screen
Read ReviewThe Trezor Model T is perfect for long term holders of many coins. It's full color high resolution touch screen makes it easy to navigate and advanced features make it the most secure hardware wallet
Ledger Nano X
Secure Storage with Bluetooth Functionality
Read ReviewThe Ledger Nano X is great for traders who need to access their coins on the go. The on-board Bluetooth functionality allows you to access your coins on your mobile device.
Electrum
Multi-feature desktop wallet that works with hardware wallets.
Visit WebsiteElectrum is a Bitcoin-only desktop wallet that offers many advanced features for higher level users. It is best paired with a hardware wallet.
More Bitcoin Exchanges in India
Most Popular Exchanges in India
Kraken
Founded 2011
Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.
Founded 2013
Cex.io
Founded 2013Cex.io
Since its founding in 2013, CEX.io has never lost any user funds. As a pioneer in credit card payments for crypto, CEX has kept it easy to access and buy coins. Since it supports 99% of all counties,you can use CEX no matter where you are to buy and sell your favorite crypto assets
Visit Site MorePROS
CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Bank Transfer SEPA SWIFT
Headquarters: London, GBR
Ease of Use
Easy
Privacy
Low
Speed
Slow
Fees
Medium
Reputation
Good
Limits
High
Founded 2014
BitMEX
Founded 2014BitMEX
Started by commodities trader Arthur Hayes in 2014, BitMEX quickly became the leading place to make leveraged bets on the price of bitcoin. Thier unique Bitcoin only depoist/withdraw system, along with top notch security have continued to set it apart from challengers.
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CONS
Supported Fiat:No
Payment methods include:Bitcoin
Headquarters: SYC
Ease of Use
Easy
Privacy
Low
Speed
Super fast
Fees
Low
Reputation
Excellent
Limits
Unlimited
Founded 2011
BTCC
Founded 2011BTCC
As the oldest exchange in China, BTCC has a good reputation that only longevity can earn. Easy fiat on and off ramps and many cryptocurriencies to trade continue to make BTCC China's premere exchange
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CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Coin Payments Wire Transfer
Headquarters: Hong Kong, China
Ease of Use
Easy
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Good
Limits
High
Founded 2012
LocalCryptos
Founded 2012LocalCryptos
LocalCryptos is a Peer to Peer exchange that escrows funds, allowing two parties to trade cryptocurriences with no prior knowledge of each other.
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CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Bank Transfer Coin Payments Cash
Headquarters: Richmond, Australia
Ease of Use
Average
Privacy
High
Speed
Slow
Fees
Low
Reputation
Good
Limits
-
Founded 2013
KuCoin
Founded 2013KuCoin
As one of the first exchanges anywhere, KuCoin has grown into a very large operation, supporting hundreds of trading pairs along with derivatives and futures.
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CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Bank Transfer Paypal Interac e-Transfer
Headquarters: Singapore
Ease of Use
Easy
Privacy
Low
Speed
Super fast
Fees
Low
Reputation
Good
Limits
High
Founded 2006
eToro
Founded 2006eToro
eToro was started before bitcoin existed, however it recently has added bitcoin and cryptocurrency trading to its platform. Now it is one of the most trusted places to buy, sell and trade various cryptocurriencies. It's large platform allows it to have low fees and spreads.
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CONS
Supported Fiat:Yes
Payment methods include:Bank Transfer
Headquarters: UK
Ease of Use
Easy
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Excellent
Limits
Unlimited
Founded 2014
Bittrex
Founded 2014Bittrex
Founded in 2014, Bittrex was a mainstay of crypto trading during the 2017 bull market. It has many cryptocurrency paiirs and now even allows Fiat on boarding.
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CONS
Supported Fiat:Yes
Payment methods include:-
Headquarters: Seattle, Washington, USA
Ease of Use
Average
Privacy
Low
Speed
-
Fees
Low
Reputation
Good
Limits
Medium
Founded 2011
Paymium
Founded 2011Paymium
Paymium is one of the oldest exchanges in Europe. It is compliant with all EU regulations and is extremily well trusted. Paymium is based in France and supports several payment methods, including SEPA transfers and credit card purchases.
Visit Site MorePROS
CONS
Supported Fiat:-
Payment methods include:Credit Card Bank Transfer SEPA SWIFT Apple Pay
Headquarters: Paris, FRA
Ease of Use
Easy
Privacy
Low
Speed
Super fast
Fees
Low
Reputation
Good
Limits
High
Founded 2015
Bitit
Founded 2015Bitit
EU based exchange supporting 15 different fiat trading pairs and dozens of coins beyond Bitcoin. This is one of the more established exchanges with a long track record and a clean UI that is easy for newbies and veterans alike.
Visit Site MorePROS
CONS
Supported Fiat:Yes
Payment methods include:Credit Card Bank Transfer Cash Cash Libs Wire Transfer
Headquarters: Paris, FRA
Ease of Use
Easy
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Average
Limits
Medium
The history of Bitcoin in India
In 2016, using a very flawed premise, Indian Prime Minister Narendra Modi made the controversial decision to demonetize 500- and 1000-rupee banknotes––in a country where nearly 90% of all transactions are made in cash. As a result of demonetization, huge lineups began to form outside banks throughout the country and stayed that way for weeks.
This famously polarizing decision sparked a new interest in digital currency throughout India's 1+ billion population, including credit cards, digital wallets, and Bitcoin.
The current status of Bitcoin in India
From early on, the government of India has taken a firm stance on Bitcoin and cryptocurrency trading. In a statement released in early 2018, cryptocurrencies were deemed not legal tender in India. But more than that.
The Reserve Bank of India (RBI) supported the government’s claim by releasing a statement of their own in mid-2018, prohibiting banks, lenders, and other regulated financial institutions in the country from dealing with Bitcoin or other virtual currencies, highlighting the risks involved for purchasers. They went even further by stating that any regulated institutions that were (at the time) currently providing virtual currency exchanges would have to exit such relationships in no less than three months from the date of the statement's release, citing claims that crypto assets had been accused of financing illegitimate activities. There was even a draft put forth in 2019 entitled “The Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019”.
In March 2020, however, India’s supreme court revoked the RBI’s ban on the cryptocurrency trade, making Bitcoin and other currencies legal. Yet despite this, there has been a minimal movement to put together a regulatory framework for virtual trading.
Some of the most popular exchanges for buying Bitcoin in India include Unocoin (billed as the leading bitcoin exchange in the country), WazirX (billed as the most trusted), and Paxful (for peer-to-peer trading).