Cryptocurrency exchanges across the globe have turned over a hundred-fold in the past four years. Not everyone has bought a cryptosecurities in India, as Indian entrepreneurs and investors have found value in bitcoin as it allows people to carry out cross border transactions without the government's intervention. Several foreign currency exchange companies are also set to launch platforms in India, or already running their services.
Since the supreme court lifted the RBI ban, more people have been looking to buy bitcoin and other cryptocurrencies in India. Responding to community feedback, a number of cryptocurrency exchanges have lowered their fees as the Indian crypto sector continues to grow.
The cryptocurrency market in India reached a new all-time high even in this lockdown, according to data from Coinometrics. Investors looking to buy bitcoins or other cryptocurrencies should keep a wary eye on their local wallets and exchanges. These wallets could have been hacked, having access to stored funds removed. Risks to storing a large amount of bitcoin, bitcoin cash, ether or any other digital currency in a offline is a better idea. India is well-known for its reliability and stability, and an index tracking the local stock market is the benchmark for international investors to hedge their risk in the country.
In India, since the monetary ban was lifted, the most popular cryptocurrencies by market capitalization are bitcoin and ether. Here's a breakdown of the many leading cryptocurrencies in India: The online trading platform coinsecure.io was created with the goal of filling the gap between the customer and the seller. With the recent strengthening of cryptocurrency regulation, the trading platform began having competition between them.
Wazirx, a popular crypto exchange in the country, charges 0.1% when paid through WRX, CEO Nischal Shetty told news.Bitcoin.com. “We lowered our USDT fees to make it zero fees for transfer to Binance,” he detailed. “So effectively maximum users in India now enjoy 0 fee USDT transfer from Wazirx to Binance and for other withdrawals, the fee has been lowered to 1.5 USDT.” The CEO further shared, “We’re planning to lower withdrawal fees for other tokens as well over time.” Wazirx’s fees can be found here.
