Tag: cryptocurrency

Best cryptocurrency Exchange in India?

I had a similar question when I thought to diversify my portfolio to cryptocurrency, After a lot of research I zeroed on these factors and selected my cryptoexchange

  • Security

The first and foremost thing you should look for is security. Despite the fact that bitcoin is developing at unprecedented rates, there have been a number of cyber-attacks and digital heists in which hackers stole large sums of money and then vanished.

Check to see if the exchange site is HTTPS or HTTP. HTTPS indicates that the site uses secure protocols. What type of wallet does the exchange offer? Is there cold wallet storage or hot wallet storage? Because it works offline and is physical, cold wallet storage is more secure. Hot wallets, on the other hand, may be the best option for regular transactions. Other factors to consider are if the exchange provides secure logins, whether two-factor authentication is used, and so on.

  • Volume and Liquidity

Another critical issue to consider is liquidity. A higher liquidity level indicates that the exchange is more stable. If a cryptocurrency exchange is unable to complete a transaction or fulfill an order, it is most likely due to a liquidity shortage. A crypto exchange with sufficient liquidity, on the other hand, allows traders to complete their transactions quickly and easily. As a result, traders and cryptocurrency exchanges will be protected from market fluctuations.

  • Exchange and Transaction Fees

Essentially, cryptocurrency exchanges function as an intermediary between the buyer and seller by facilitating the exchanging of cryptocurrencies for other assets. As a result, they mostly profit from commissions and transaction fees. 

Given that crypto exchanges require a large amount of capital to operate in addition to offering a secure trading environment, some crypto trading platforms may be justified in charging high transaction fees. However, in order to make big profits, numerous crypto exchanges frequently charge double the fees required, and most users are unaware of this. This is why, before making a final decision, individuals should always perform research and compare exchange and transaction fees across various trading platforms. Otherwise, there’s a good chance that you will get ripped off. 

Other than these, users should also consider other factors such as ease of using the trading platform, user experience and navigation, and transparency of the exchange before they get started on their crypto trading journey. 

Why WazirX is the best bitcoin trading platform in India

Taking into consideration several factors, including the ones mentioned above, WazirX is undoubtedly the best cryptocurrency trading platform in India. Here are some features of WazirX which make it the best.

  • Best-in-class security – In order to make WazirX India’s most secure exchange, the platform undertakes regular security audits to ensure that no security flaws are overlooked.
  • Quick KYC procedures – Wazir has industry-leading identity verification solutions with significantly reduced verification timeframes.
  • Fast transactions – With the potential to handle over a million transactions, the platform architecture can readily scale up in seconds to meet demand.
  • Integration across various platforms – WazirX is supported on Web, Android, iOS, macOS, and Windows. WazirX trading app is available on Google Play Store and App Store.
  • Easy user navigation – The platform includes a simple and easy-to-navigate interface that makes it easier for users, especially beginners, to start trading. The interface also makes it simple for users to go through the various options, whether you wish to deposit or withdraw money.
  • Low transaction fees – WazirX continues to attract more customers with each passing day thanks to significantly cheaper transaction fees than other platforms.
  • Supports global currencies – WazirX is integrated with the Binance app to allow for global currency investing.
  • Own utility token – WazirX also has its own utility token, the WRX, which can be used to pay the transaction fees. 
  • Availability of more than 150+ cryptocurrencies and 140+ trading pairs – WazirX allows you to trade in any major cryptocurrency, including Bitcoin, Litecoin, Ethereum, and even the WRX token, thanks to its availability of over 150 cryptocurrencies and 140 trading pairings.
  • P2P Trades – WazirX also has a peer-to-peer (P2P) trading engine that matches users to trade with one another.

You can open an account online in 5 minutes – To open an account online click here

Which is the best broker to invest in cryptocurrency in india?

My priority when it comes to buying cryptocurrencies is that I want to grab the best market price on each of my purchases.

That’s why I choose WazirX, which is one such exchange that helps me achieve my goal of fetching the best prices.

Because it is not just another exchange but a crypto aggregator that pools liquidity from some of the top exchanges in the world and presents the best rate on its app for every buys and sell, apart from that their customer support is also very hands-on and thus it is my preferred choice.

Other notable features of WazirX are:

Liquidity

With respect to liquidity, WazirX is still on its way up. The exchange had a 24-hour trading volume of USD 3.37 million, placings it on place no. 153 on the list of the exchanges in the world with the highest 24-hour trading volumes.

WazirX Fees

WazirX Trading fees

The fees at WazirX are what we call flat fees, meaning that makers and takers are charged the same fee. WazirX’s fees are 0.20% for both takers and makers. This is in line with the industry average, which has historically been around 0.25%. Today, which is quite normal.

WazirX Withdrawal fees

WazirX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the global industry average and thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market. The global industry average is 0.000812 BTC per BTC-withdrawal, so WazirX is roughly 40% lower than that.

WazirX Security

This is actually the only place where this particular cryptocurrency exchange takes the “gold medal” among Indian cryptocurrency exchanges. The security score received by this Indian cryptocurrency exchange site is C when performing the test at Observatory by Mozilla. No other Indian cryptocurrency exchange has a higher security score. A “C” is also in line with the global industry average.

If u want to join WazirX, Join with my referral code ksppe42b, you will get an extra 1 WRX or alternatively open an account online – Click here

I personally feel WazirX is the best for trading cryptocurrencies in India. WazirX looked to me like a fresh grad student out of the university, who felt that he could take on the world right then. But the fact that Binance had acquired WazirX, elevated its status in front of my eyes. Intuitively, I started researching WazirX. And the more I read, the more still the raging waters turned in my mind. Without waiting for another night, I created my account on WazirX.

Apart from this, the association of Binance with WazirX provides its legitimate security. So far I can undoubtedly say that I am happy with my decision.

Hope that answers your question.