These are the top places to buy Bitcoins in India.
Zebpay is India’s first Bitcoin company and also the most popular app-enabled exchange. Established in 2012, Zebpay let’s Indian users link their bank accounts to their Zebpay accounts and seamlessly trade Bitcoins via NEFT. Zebpay is the most trusted Bitcoin exchange in India since it has been around for several years. Therefore it is the first platform that new users look at when getting into Bitcoin. But since Zebpay is the most popular exchange in India, it gets a lot of verification requests which causes delays up to several weeks in getting verified. In addition to slow verification times, the exchange rates on Zebpay are not as competitive as on other exchanges. But its stable exchange service makes it an excellent platform for beginners.
Unocoin is India’s leading Bitcoin & Blockchain company with over 1,30,000 customers. Unocoin is a member of NASSCOM, The National Association of Software and Services Companies, which is a trade association of Indian Information Technology and Business Process Outsourcing industry. Unocoin lets users fund their INR wallers by either PayU Money balance or by Netbanking. To get verified on Unocoin, users have to submit a copy of their PAN Card, Aadhar Card and a photo of themselves. It takes about 3-5 days to confirm the account details before which users cannot make trades on the platform. After the verification is complete, users have a hard cap of 20 Bitcoins to trade per day.
Even though Koinex is relatively new in the Indian Bitcoin exchange space, it still has the edge over the other Bitcoin exchanges because of its Open Book Exchange, which gives a better experience to traders for making trades by providing better rates to its customers. They have a pretty fast and straightforward KYC verification process and to top it all, their Open Book Exchange delivers much better prices than any other mainstream Indian exchanges. Koinex lets users trade Bitcoin, Ripple, Bitcoin cash, Ether and Litecoin in real time which leads to much better rates compared to any other exchanges in India.
Polish Bitcoin exchange BitBay has started operations in India, as part of a move geared towards the expansion of its cryptocurrency trading business making, it the first international venture to enter the Indian cryptocurrency space. BitBay currently accounts for more than 60% of the cryptocurrency market in central Europe, so it is undoubtedly a major player among the cryptocurrency exchanges. In addition to Bitcoin, the exchange will allow for trading of six other cryptocurrencies, including Ether, Lisk, Litecoin, Monero, GameCredits and Dash. In its home country of Poland, BitBay enables users to pay at stores and restaurants with cryptocurrency. Poland-based customers also issued special debit cards that can be used for ATM withdrawals. While it is not clear if BitBay is planning to offer similar services to its Indian users, it still has the potential to become one of the largest exchanges based on the number of cryptocurrencies it is proposing to trade on its platform.
LocalBitcoins is one of the oldest ways to trade Bitcoins over-the-counter around the world where users can post their buy and sell offers. Users can make the exchange in the currency used in their country, and this method does not require any middlemen. In addition to the physical exchange of money, LocalBitcoins also offers IMPS Bank transfers in India where LBTC acts as an escrow service which holds both the Bitcoins and the currency required to make the trade. Once the money is deposited using a bank transfer, LocalBitcoins releases the Bitcoins. LocalBitcoins has a reputation and feedback mechanism which makes it easier for users to select their vendors more carefully.