5 Best Apps to Buy Cryptocurrency in India – Learn How to Invest in Cryptocurrency 2022

Cryptocurrency is booming market since last 4 to 5 years and it’s growing rapidly all over the world. Many users have started investing huge money in Cryptocurrency and getting good returns as well. As per some high end business people Cryptocurrency is the future and we need to start building our surroundings accordingly.

If you are young and would love to invest your money to get good returns then stock market and cryptocurrencies are one of the best investment strategies to follow in 2022.

Everything is going digital and people started accepting this fact soon thus they are building their wealth by investing in Cryptocurrency. If you don’t have any idea about Cryptocurrency then don’t worry we will explain everything in detail soon.

Before guiding you to invest in Cryptocurrency, let me tell you that it’s not legal yet in some of the major countries including India. But, recently finance minister of India Nirmala Sitharaman announced 30% tax on digital virtual assets which included Cryptocurrency in recent 2022 Budget. So, finally Indian government is opening doors for young investors to start investing in Cryptocurrency. Many existing Cryptocurrency holders disagreed with finance minister of India due to high tax on Cryptocurrency and they have raised this issue on social media as well.

What is Cryptocurrency?

Cryptocurrency is one type of digital and virtual currency which is extremely secured. Cryptocurrency is distributed across a large number of computers and this structure allows them to work outside the government control and other agencies.

Cryptocurrency is based on blockchain technology which makes the transfer of Cryptocurrency extremely faster and cheaper. The value of each Cryptocurrency fluctuates based on it’s volume and other factors so, if you buy Cryptocurrency today then it may go up or even down tomorrow. Cryptocurrency is very risky investment as well so, make sure to research about the coin before making any investment.

What does Cryptocurrency Exchange do?

Cryptocurrency exchange is a platform where users can exchange their fiat currency (Government issued currency) to cryptocurrencies. These platforms are being used to buy the cryptocurrencies securely and in a faster manner.

Currently three Cryptocurrency exchanges are there including Centralized exchanges (CEX), Decentralized exchanges & Hybrid exchanges are the Cryptocurrency exchange.

Centralized exchanges are currently widely used in the world to exchange Cryptocurrency. In general centralized exchange platforms are fully controlled by a central authority and acts as an intermediary or investor’s custodian, which holds the investors all money like a bank.

Decentralized exchanges are known as peer to peer marketplace which directly connects buyers and sellers for transactions in exchange of crypto. Decentralized doesn’t have any intermediary and aren’t secure as well because it can be hacked or shut down by government easily.

The third Cryptocurrency exchange is known as hybrid exchange which is form of both exchanges and will be favorite exchange for users soon.

Best Cryptocurrency to invest in 2022 for Beginners

Bitcoin was the first ever Cryptocurrency released back in 2009. Currently Bitcoin is possible the most popular Cryptocurrency in the world but the price of Bitcoin is very high and beginners can’t afford it now at any cost.

Last year 2021 we have seen many Alternative coins (No link to bitcoin) to grew like almost 11000%. These coins are Solana & Terra and apart from that other coins performed well. Here are some top Cryptocurrency to invest in 2022.

  • Polkadot
  • Cardano
  • Monero
  • Litecoin
  • Chainlink
  • Shib
  • Dogecoin

Best Apps to Buy Cryptocurrency in India 2022

#1 Binance

Binance is one of the most popular Cryptocurrency apps to buy & sell crypto within minutes. Binance is leading Cryptocurrency exchange to trade in coins. Binance currently has 2 Billion daily volume, 1,400,000+ transactions per second and it provides 24 x 7 support.

Users has plenty of Cryptocurrency options to buy & sell on Binance platform including bitcoin, ethereum, shib, dogecoin and many others.

How to buy Cryptocurrency from Binance?

Well, we need to create separate guide to explain this step as it will be much detail. But if you want to buy Cryptocurrency from Binance then kindly follow below steps.

  • Sign Up to Binance Platform
  • Verify your account by providing all the information
  • Wait till Binance verifies your account
  • Go to P2P Trading Platform where you need to buy some coins first in exchange of INR
  • Prefer buying USDT from list of other verified sellers in exchange of INR
  • Go to Binance Exchange and open any Cryptocurrency you want to buy
  • Enter the amount and click on Buy Button

Once you buy any Cryptocurrency then it will appear in Binance wallet. User can watch daily profit & loss easily on this platform. One can easily sell or trade crypto coins directly from Binance wallets.

Binance has their own Cryptocurrency called Binance Coin (BNB) which is also considered as one of the most popular coin to buy for investors.

Pros

  • World’s largest crypto exchange
  • Plenty of cryptocurrencies options to buy & sell on platform
  • Competitive crypto trading fees
  • High quality iOS and Android trading apps

Cons

  • Customer support could be better

Binance Trading Fees

  • Each trade has a standard fee of 0.1% if you don’t use BNB coin to pay trading fees
  • If you use BNB as transaction fees then it will have pretty good discount

Binance Deposit & Withdrawal Fees

  • Deposit is completely free – There are no fees to deposit cryptos
  • Binance withdrawal fees are dynamic and adjusted based on market status

#2 WazirX

WazirX is one of the most popular Cryptocurrency apps in India. WazirX was founded in 2018 by Nischal Shetty and currently most trustworthy app platform in India to trade in Cryptocurrency. Later, WazirX was acquired by Binance in 2019 which opened the global market for Wazirx investors.

WazirX has their own crypto coin of token called WRX which user can also use to pay transaction fees. WazirX platform has many popular cryptocurrencies to invest in including Bitcoin, Shib, Matic, Ethereum, Doge, TRX, Ripple and many more.

Investors can trade their cryptocurrencies in 3 different forms or markets including spot market, P2P market and STF trading. 

Once you buy any Cryptocurrency from wazirx platform then simply go to funds and see entire portfolio. Investors can directly withdraw their investments from portfolio section only.

Pro

  • Easy user interface
  • Quickbuy option in Mobile App
  • Easy to deposit and withdraw funds
  • Easy integration with Binance app
  • Trading & Transfer fees are low

Cons

  • Payment transfer platform doesn’t work most of the times (UPI & Other Methods)

WazirX Deposit Fees

  • WazirX has 5.90 INR fees for IMPS, NEFT & RTGS Transfer
  • WazirX has 4 INR fees for UPI Transfer

WazirX Trading Fees

  • The trading fee on WazirX is 0.2% for most of the Cryptocurrency
  • If you pay trading fees in WazirX token format then you may get 50% discount

WazirX Withdrawal Fees

  • Withdrawal fees are different based on Cryptocurrency
  • Withdrawal fees for bitcoin is 0.0006 BTC

#3 CoinBase

Coinbase is one of the easiest platforms to buy & sell Cryptocurrency within seconds. Coinbase has currently 73 Million+ users and this app/platform are supported in 100+ Countries. As per latest number released by Coinbase, the platform has $327 Billion quarterly volume trading which makes this platform as one of the best app to buy Cryptocurrency.

Coinbase was founded back in 2012 to send and receive bitcoin on the platform. But later this platform has shown amazing growth and currently has 2700 worldwide employees.

Cryptocurrencies Available on Coinbase

As mentioned Coinbase has 100+ cryptocurrencies available but here we are listing some of the most popular cryptocurrencies on coinbase platform.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Solana (SOL)
  • Polkadot (DOT)
  • USD Coin (USDC)
  • Dogecoin (DOGE)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Shiba Inu (SHIB)
  • Algorand (ALGO)
  • Stellar Lumens (XLM)
  • Polygon (MATIC)
  • DAI (DAI)
  • SushiSwap (SUSHI)

Pros

  • Best app to invest in crypto for beginners
  • 100+ cryptocurrencies available to invest
  • Earn Cryptocurrency
  • Coinbase Pro available with low fees

Cons

  • High transaction / trading fees
  • Customer Service response is slow
  • Not many altcoins are available on the platform

#4 ZebPay

ZebPay is one of the simple and easiest trading platform to buy & sell cryptocurrencies in India. Investors can access ZebPay as mobile app format along with web as well. In India if any investor wants to buy & sell cryptocurrencies from any platform then they must need to complete KYC process on that platform.

Zebpay was founded in 2014 to trade coins like Bitcoins, Ethereum, Ripple and Litecoin. In 2018 RBI puts ban on many exchange platform including ZebPay so it was closed temporarily but now it working fine for Indian investors.

If you want to receive bitcoin from other users then do use ZebPay app as it’s one of the safest

Pros

  • Deposit & Withdraw INR
  • Accessible from Mobile App & Web Applications
  • Fast & Easy payments
  • Get fixed returns on crypto holdings
  • One of the oldest app or platform in India
  • Crypto wallet is available

Cons

  • Frequent technical issues on mobile app
  • Poor reviews from existing users
  • Customer support should be more fast

#5 CoinDCX

CoinDCX is by far #1 app to invest in cryptocurrencies in India. Currently CoinDCX has 10 million+ users in India and having 4.5 star ratings on Android play store which is one of the highest for any crypto app in India.

On CoinDCX users can start investing within 10 minutes after signing up for the account. On CoinDCX platform 75 Billion+ Cryptocurrency purchased so far. CoinDCX platform has some solid investors and very high level encrypted technology will make sure it’s safe and secure.

Pros

  • Wide range of coins available for trading
  • Trading fees are low compared to other platforms
  • Accepts payment methods in UPI and IMPS form
  • Available in Android, iOS and Web Applications

Cons

  • FIAT currency is only INR and don’t have other options as of now
  • Higher FIAT value

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