If you trade cryptocurrencies, you might certainly have scratched your head over the features offered by Indian crypto exchanges at least a few times. And that’s pretty obvious actually, because there’re more than half a dozen crypto exchanges in India with different features and their own jargon. But now when you’ve come to this page, you won’t have to bother about it again! That is because here we’ll provide you complete information about all the features offered by major crypto exchanges of India. Let’s begin:
Crypto to crypto trading: Zebpay was the first Indian exchange after CoinDCX to launch crypto-to-crypto trading in India. And since CoinDCX is much newer than them, arguably it was also the first exchange to make crypto-pair trading mainstream in India. Today it has 26 different trading pairs available for crypto-to-crypto trading. The maker and taker fee for crypto-to-crypto trades are 0.20% and 0.25%, respectively.
Crypto to crypto trading: Unodax offers 17 different crypto-to-crypto trading pairs on its platform with Bitcoin, Ethereum and Ripple (XRP) being the base currencies. The maker and taker fee for this service is 0.4% and 0.6%, respectively. But note that this service is relatively new on this exchange in comparison to other platforms – Unodax launched crypto-to-crypto trading on 25th of July only (that’s two days ago)!
- Crypto to crypto trading : Coinex offers 40 different crypto-to-crypto trading pairs with BTC, ETH and XRP being the base currencies. That way it’s arguably the richest exchange in terms of crypto trading pairs. The choice of 3 base currencies also gives a lot of flexibility to the traders.
- P2P trading (Loop):The P2P trading platform of Koinex, dubbed Koinex Loop, went live on 18th of July (9 days ago). Currently it offers buying and selling of Bitcoin, XRP and Ethereum only. So you can purchase either of these cryptocurrencies from a seller on their P2P platform and then use it to trade any other cryptocurrencies. To withdraw your gains you can convert your holdings in other cryptocurrencies to either of these 3 and then sell the converted BTC, ETH or XRP holdings on Koinex Loop for INR.
- Margin trading: BitBns is the only cryptocurrency exchange in India to offer margin trading for cryptocurrencies. This feature allows you to take advantage of leverage and brings your crypto trading experience on par with stock trading.
- EOS RAM trading: BitBns is also the first crypto exchange globallyto launch trading of EOS RAM. EOS RAM is the memory on EOS network that is used by the developers to store data that’s used by their dApps. As developers on the network will increase, the demand for this RAM will also increase. And in that case the price of EOS RAM will also increase. That’s why EOS RAM has also been tokenized and listed on BitBns for sale. Those who own it stand to earn a lot of gains in future as EOS becomes more mainstream.
- Crypto to crypto trading: WazirX offers 34 different crypto-to-crypto pairs on its exchange with BTC and USDT being the base currencies. That’s a fairly large number of trading pairs, but the number of base currencies is less here in comparison to other major exchanges like Zebpay and Koinex.
- P2P trading:WazirX was the first exchange in India to announce and then launch the P2P crypto trading functionality. And the first pair they introduced was that of USDT-INR. The reasoning behind this choice was stability offered by USDT. Since USDT is pegged to the value of dollar, it works as sort of a USD equivalent on the platform. You buy some USDT tokens on WazirX P2P with your INR, and then you can purchase any cryptocurrency of your choice with those USDT tokens. Same applies to withdrawals as well – you sell your cryptocurrency and receive USDT in return, and then you sell those USDT tokens on P2P platform of company to convert them to INR. The entire P2P purchase and transfer process is absolutely free!
- Own token (WRX): WazirX also has its own token called WRX. The token is not available for being traded at any exchange right now, but WazirX plans to list it for trading once its volume reaches at least 50 BTC daily. For now users can earn WRX by participating in certain activities (i.e. signing up, winning contests, referral rewards etc.).
- Crypto to crypto: Coindelta currently offers 33 different crypto to crypto trading pairs. But there’s a catch: they’re offered with USDT base currency only! Depending on your trading requirements and preferences this may be a boon or a bane! But there’s also a clear advantage of this exchange over its competitors: its low maker and take fees of 0.15% only.
- P2P trading (Flux): The Flux P2P platform of Coindelta allows you to buy and sell BTC, ETH, XRP and USDT directly from the users. More cryptocurrencies may be added soon, but for now these are the only options. Coindelta requires you to migrate your funds and holdings from your Coindelta account to Flux account. So it’s not as seamless of an integration as you’ll find in other exchanges (i.e. WazirX and Koinex).
So this was our list of major features being offered by Indian cryptocurrency exchanges. We’ll keep updating this page, so you can use it whenever you want to learn about the features of any Indian exchange. Bookmark it and keep revisiting on regular intervals!