Bitcoin boom in India and 5 best bitcoin trading apps for Indians – Star of Mysore
While the world economy battles amidst such tough times, there is one market that managed to grow and flourish i.e. Cryptocurrency market. Speaking of which, we will discuss the scenario in India which has seen a striking shift since March 5, when the Supreme Court of India lifted the RBI’s two-year ban on cryptocurrencies and opened this market for the Indian people.
To everyone’s surprise, the move was well-accepted by the Indian market and we saw a sudden surge in Bitcoin trading during the lockdown. While on one side, people were losing their jobs and saw their income going down, this market emerged as an additional source of secret income for many.
This market trend created the need of having reliable and authentic Bitcoin trading apps in the market and demand was well-met by various existing and new industry leaders. The result of which was a 10 times higher trading volume than the previous highest of December 2017.
The shift has just not been in the trade but also in the attitudes of people, who now see Bitcoin as a secure medium of exchange and a long-term financial investment. Owing to which many people have come to explore the platform bitcoin evolution.
To help them decide which trading platform they should go for, we have here compiled a list of top-performing Bitcoin trading apps that one can consider:
Unocoin– It has emerged as one of the most lucrative and reliable Bitcoin trading platforms in the past few months. The platform charges a meager 0.7% t0 0.5% fee for trading depending on the volume. In that trade it lets the users buy and sell Bitcoin up to the tune of to buy 10 BTC and sell 2 BTC per day, respectively.
Depositing money to the Unocoin wallet is very easy and can be done via IMPS, NEFT, and RTGS bank deposits. It is very quick and efficient with a great user interface. The best feature of the app is that it allows automated buying and selling with good profits at the end of the transaction.
Binance – Taking the world trading volume, this platform has emerged as one of the most preferred platforms worldwide. Last year, the platform was a host to the highest number of trade transactions, and it is expected to repeat the stats this year too. The reason for this huge popularity is its superb functionality which lets the users’ trade in more than 150 cryptocurrencies of all sorts.
Apart from that, it has another set of added features too which helps and guides the users to crack a profitable deal.
These features include:
Setting price alerts
Comparing price charts
Transfer your cryptocurrency to your accounts smoothly and easily
Secure your asset fund
Transact with over 50 million traders worldwide
The users have had a great experience using the app and if you visit google play store you will get to hear hundreds of positive things about it.
WazirX- The app promises “lightning-fast” trading and believes you me it stands true to it. It is one of the best trading platforms when it comes to a user interface which is simple yet super powerful, simple yet very effective.
It offers a real-time open order book system that has taken the trade experience to another level of simplicity. The user can check the trade histories, make withdrawals, and deposits right away without a hassle. The app lets you trade in any of your preferred cryptocurrency via P2P trading. The best part of which is you get 50% commission on every referral which has made it even more fun.
Another feature that makes the app great is its secure and safe algorithm which keeps your account protected from any kind of cyberattack or theft. This is one reason the app has become such a highly favorable option as you know your account and money are safe with WazirX.
Coinbase– It is another popular trading platform that has managed to gain the trust of millions of users because of its easy functionality and safe database. The platform lets users trade in over 100 Cryptocurrency in a very safe and secure way. Starting from your trading history to payment transactions, wallet safety, and account information, your whole profile at Coinbase is safe and secure.
Adding to this is its advanced and sophisticated algorithm which keeps the users ahead of the rest of the market offering them high returns on their investment. It keeps the users updated about the latest trends and news on the Cryptocurrency market which further increases their chances of success in the same.
It is the most suitable app for beginners because of its easy interface and functionality. The commission is a bit on the higher side but at that cost, you get to trade at a maximum limit of $5,000 daily.
Zebpay – This highly popular app has one reason to be the most preferred and favorite of the users and that is zero trading fees it charges for trading. It allows users to trade in pair wherein one kind cryptocurrency can be traded with other while reaping benefits on the exchange.
It keeps the users updated with 24X7 price alerts and instant transaction value with real-time access. It is a safe trading platform and the users need to complete eKYC before trading begins. These security features and zero trading fees has made it one of the most popular trading platforms in India.
Trading in Bitcoin would not be that difficult if you have chosen the right platform for it. Now, there are several apps in the industry, and you must carefully analyze each of them and do your part of research to arrive at the right decision. Now, all these apps come with their specific set of features and functionalities out of which you must make a careful choice. There are several criteria which you should consider before that, so you get the expected results out of your trading experience.