Top Workarounds to Buy Crypto in India

Anisa Batabyal
| 09 June, 2020 | 2 min

The Reserve Bank of India (RBI) imposed a ban on crypto trading in April 2018, which got lifted by the Supreme Court of India on March 4, 2020. That marked as an epic day for the cryptizens in India- the traders, the crypto institutions, the enthusiasts, the miners, etc. Now the users can easily buy crypto with INR without any fear of getting caught. Now, cryptocurrency trading has been legalized, and there are many workarounds that have been established for buying crypto after the RBI ban got lifted on cryptocurrency trading.

Let discuss the top ways for buying cryptos after the crypto ban got lifted:

#1 Binance

Binance is one of the world’s leading cryptocurrency exchange, which works as an ecosystem, comprising of an exchange, wallet, Labs, Charity info, etc. as stated by the CEO- Changpeng Zhao. Binance has its own coin called Binance coin (BNB), which is one of the top ten cryptocurrencies by market capitalization. Headquartered in Malta, Binance supports multiple tradeable cryptocurrencies and is one of the best exchanges to buy cryptocurrencies. Binance is known to have one of the best cryptocurrency exchange apps.

#2 Huobi

Another cryptocurrency exchange is Huobi, which was founded in China, supporting around 250 cryptocurrencies. Huobi has two different versions- Huobi OTC (that allows trading of cryptocurrencies with fiat currencies at zero fees) and Huobi Pro (that is for advanced trading capabilities). Huobi also came up with a cryptocurrency exchange-traded fund (ETF), named HB10.

#3 OKEx

OKEx is one of the most popular crypto exchanges supporting more than 145 cryptocurrencies and is based out of Hong Kong. They even have their own cryptocurrency- OKB. OKEx has around 0.02% to 0.2% maker and taker fee. OKEx is not far behind when it comes to trading per day, and it has experienced around $1.5 million in bitcoin futures every day. It is one of the trusted global crypto exchanges.

#4 KuCoin

KuCoin was founded in 2011, with a predominantly modern outlook, backed with a secured platform. Based out of Hong Kong, KuCoin is a profit-sharing platform, distributing 50% of its overall revenue to holders holding exchange-based token- KuCoin Shares (KCS). Even the Holders get a 1% discount for every 1000 KCS they hold. The fees are comparatively lower as compared to other exchanges.

#5 CoinSwitch

CoinSwitch is not an exchange, but a crypto exchange aggregator, which has the benefits of all the exchanges put together. So you can get to compare the rates of all the above-mentioned exchanges and then choose the best as per your own choice. The best part is that you will experience the best security measures at the most competitive rate. CoinSwitch has its own API, which you can use for your custom made products or services. You can buy bitcoin in India at CoinSwitch at the best rates.

CoinSwitch supports more than 300 cryptocurrencies and 45,000 conversion pairs. CoinSwitch has an instant crypto converter, where you can get the fiat to crypto or crypto to crypto conversion rate in real-time, without even having to sign up. The best part is that it is renowned in the market as some of its partners include Binance, HitBTC, Guarda, and many more, hence considered one of the best crypto exchanges for the Indian users. Convert INR to Bitcoin at the best rate here.

Frequently Asked Questions (FAQ)

  1. Is crypto legal in India?

Yes, cryptocurrencies are legal in India, as the Supreme Court of India rightfully lifted the ban on March 4, 2020.

  1. Are bitcoins legal to own in India?

Yes, owning bitcoins and any other cryptocurrency is legal in India.

  1. How can I buy Bitcoins in India?

You can buy Bitcoins easily, securely, and instantly here.

  1. How can I buy Bitcoins in India?

You can buy Bitcoins in India at the best rate here.

About CoinSwitch is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!