Exchanges to buy Bitcoin Altcoins in India

What are exchanges?

Exchanges are platforms that facilitate buying and selling of cryptocurrencies like Bitcoin, Ether, Ripple, Litecoin and more. These exchanges allow exchange of Rupees against cryptocurrencies. Koinex, Coindelta, and Coinome are few examples of Indian cryptocurrency exchanges. Besides exchanges, there are broker services which allow purchase of cryptocurrenceis at a fixed price. These broker services are easier for beginners but charge comparetively higher fees. Zebpay and BuyUcoin are examples of Indian broker services.

What is trade/transaction fee?

This is the fee that exchanges charge on every transaction you make on their platform. This fee ranges from 0% - 3% per transaction depending on your order and trading volumes. Contrary, broker services charge a fixed fee. Often this fee is included within the buy/sell price of the cryptocurrency.

What is the verification process?

According to Indian government regulation, all of these exchanges and broker services require KYC verification process. Based on the process supported by exchanges, there are 2 ways to verify your account 1. Manual KYC - You will have to upload your pan card and bank details which they will verify Manually on their end. This process might take upto few days. 2. E-KYC - In this, you can verify your account directly by linking your Aadhaar card. This process will take only few minutes.

How do I buy cryptocurrency from an exchange in India?

To buy Bitcoin, Ripple, Ether, Litecoin or any other cryptocurrencies, you will have to deposit money in your exchange from you linked bank account. You can deposit money via net banking or using supported payment gateways. Once the money is deposited in the exchange, you can buy any cryptocurrency from that money.

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