- The Indian cryptocurrency market is expected to grow by 9.83% from 2023 to 2027.
- India’s top-five crypto exchanges based on users include WazirX, Bitbns, KoinBX, CoinDCX, and ZebPay.
- CoinDCX claims to be the crypto exchange with the highest number of listed tokens in India.
According to Statista, the online global economic data portal, the Indian cryptocurrency market is expected to grow by 9.83% from 2023 to 2027. That would result in a market volume of $324 million for the sector by 2027. Among the frontrunners in the Indian crypto industry are the top-five crypto exchanges based on number of users. They include WazirX, Bitbns, KoinBX, CoinDCX, and ZebPay.
WazirX
WazirX was created in 2018 and is acclaimed to be India’s fastest-growing crypto exchange. It boasts of serving over 15 million users, according to reports. WazirX is available for the global audience and allows instant fiat deposits and withdrawals. The platform has a “Login via Binance” option.
Bitbns
Bitbns was founded in 2017 and has grown to become one of the top crypto exchanges in India. Bitbns has attracted more than 3 million users. According to internal sources from Bitbns, it is the first crypto exchange to introduce Bracket Orders. Over 468 tokens are currently listed on the platform of the crypto exchange, according to data on its website. Bitbns also has a P2P FIAT deposit and withdrawal mechanism.
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KoinBX
KoinBX is a global cryptocurrency exchange with a significant presence in India. It is a platform that allows users to buy, sell, and trade Bitcoin and other cryptocurrencies. CoinmarketCap data shows that KoinBX accommodates 94 crypto tokens that users can trade and exchange in different markets. It also has a mobile version that allows users to trade cryptocurrencies on the go.
CoinDCX
CoinDCX is another crypto exchange that started in India in 2018. It claims to offer zero-fee transactions that are instant, as well as a single access point for multiple financial services. Data from CoinMarketCap shows that CoinDCX accommodates more than 500 different tokens and claims to be the crypto exchange with the highest number of listed crypto tokens in India. The crypto exchange has an estimated user base of over 13 million. CoinDCX is backed by several investors, including Polychain Capital, Coinbase Ventures, Bain Capital Ventures, and HDR Group, operator of BitMEX.
ZebPay
ZebPay is another top crypto exchange with a significant presence in India. It was established in 2014 and has spread to different parts of the world. ZebPay’s Indian users are in their millions and can access the crypto exchange via the mobile app or the web interface. OTC services are also available on ZebPay for high-volume traders. CoinMarketCap data shows that 105 different crypto tokens are listed on the ZebPay platform. There are over 5 million users on ZebPay.
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