KEY TAKEAWAYS

1. The cryptocurrency market in India is unregulated but not illegal, with a significant market size expected to grow from $2.6 billion in 2024 to $13.9 billion by 2033.

2. The Indian government is reviewing its regulatory policy on cryptocurrency due to rising global adoption, indicating a potential positive shift in the future.

3. The blog lists leading cryptocurrency platforms in India, including BitSave, CoinDCX, ZebPay, Mudrex, Bitbns, Binance, Coinswitch Kuber, Unocoin, and Delta Exchange, highlighting their features and contributions to the crypto industry.

4. Despite regulatory uncertainties and high taxation, the Indian crypto market continues to grow, driven by innovative platforms offering diverse features for both novice and experienced investors.

5. The future of cryptocurrency in India looks promising, with platforms focusing on security, user education, and innovative investment options, potentially integrating digital currencies into the mainstream financial ecosystem.

Unregulated, but not illegal. That’s what pretty much sums up the status of cryptocurrency in India, right? But despite this tricky status and high taxation, the size of India’s crypto market had already reached a value of $2.6 billion in 2024, and is further expected to hit the $13.9 billion mark by 2033.

And, what can be seen as a good sign for the future of crypto in India, a recent report had mentioned that the Indian government, which has historically been opposed to cryptocurrency, is now reviewing its regulatory policy in response to rising adoption by other countries.

With that ray of hope in mind, let us bring to you the list of leading cryptocurrency platforms in India, who are competing to find newer ways to innovate the crypto industry and make it more secure and transparent.

List Of Crypto Platforms In India

1. BitSave

Founded: 2022

Founders: Zakhil Suresh, Asif Kattakath, Vishnu Karthikeyan and Sajal Sarwar Sharma

Bitsave is a simplified crypto investing platform. A first of its kind, Bitsave brings in a mutual fund approach to the crypto market.

Key Features:

• Similar to what the Nifty50 does, but for crypto!

• Offers retail investors the access to buy the units of crypto index fund.

• India's only platform offering access to the Bloomberg Galaxy Crypto Index (BGCI). BGCI tracks the world’s top 12 cryptocurrencies.

• Minimum investment size is not too big: $50 (approx ₹4500).

We had written an in-depth article on BitSave, which you can check out below!

2.Mudrex

Founded: 2018

Founders: Alankar Saxena and Edul Patel

Another big player in the Indian crypto market is Mudrex. It is a US-headquartered and Bengaluru-based crypto platform which aims to make crypto accessible to the masses. It is a crypto buying, trading and investment platform designed to benefit retail investors to earn better risk-adjusted returns in a volatile market in the long term.

Key Features:

• Besides crypto coins and futures, Murdex also offers ’Coin Sets’, which are theme-based baskets of cryptocurrencies to help you invest systematically. Very few crypto platforms offer crypto baskets at present.

• Operates in complete compliance with local regulatory bodies such as with Financial Intelligence Unit (FIU) in India, Virtual Asset Service Provider (VASP) in the European Union, and Organismo Agenti e Mediatori (OAM) in Italy.

• Offers a wide range of crypto tools such as crypto tax calculator, crypto price tracker, fear and greed index, crypto to fiat converter, crypto to crypto price converter, etc.

• Also offers a separate ‘Saber Money’ platform, a B2B service provider which enables businesses to seamlessly integrate crypto and fiat payment solutions.

3. CoinDCX

Founded: 2019

Founders: Neeraj Khandelwal and Sumit Gupta

Besides being among the popular crypto platforms in India, CoinDCX is also an instrumental player in building the broader Web3 ecosystem. Recently in January 2025, CoinDCX had announced a new crypto literacy project in Mumbai, called ‘Bitcoin Chai Cafe', which will attempt to kickstart discussions on crypto and digital assets at a popular meeting place in the city — tea stalls.

Key Features:

• Supports over 500 cryptocurrencies, including Bitcoin, Ethereum, and other altcoins.

• Offers high liquidity for seamless trading and withdrawals.

• Has advanced tools like futures trading, staking, and margin trading.

• Offers educational tools under its “CoinDCX Learn” program, helping users understand the crypto market better.

4. ZebPay

Founded: 2014

Founders: Sandeep Goenka, Mahin Gupta and Saurabh Agrawal

ZebPay is one of the oldest and leading crypto exchange platforms in India. Also, if you remember, we had explained the concept of bond baskets in one of our previous articles. A similar concept is being offered by ZebPay for cryptocurrency investment, through ‘crypto packs’. These help you effortlessly invest in a bundle of cryptocurrencies at the click of a button. Moreover, these crypto baskets are curated by experienced professionals, who hand pick the crypto tokens and pre-balance the basket to optimise risk and returns.

Key Features:

• ZebPay has an easy-to-use interface for buying, selling, holding and even lending cryptocurrencies.

• Strong focus on security, with >98% coin storage in cold wallets and third-party security testing.

• It has a long-standing reputation as one of the oldest crypto exchanges in India.

5. Bitbns

Founded: 2017

Founders: Gaurav Dahake and Prashant Singh

Bitbns is another crypto exchange in India, with a P2P (Peer-to-Peer) system for purchasing cryptocurrency with FIAT in India. It claims to globally be the first crypto platform to start P2P ecosystem for FIAT deposits/withdrawals, Arbitrage Chrome Extension, Margin trading of 165+ cryptocurrencies with 4x leverage,etc.

Key Features:

• Supports a variety of cryptocurrencies and trading pairs.

• Crypto FD and SIP (Systematic Investment Plan) features available. Moreover, investors can enjoy zero TDS on SIP investments on Bitdroplet, one of the first crypto SIP platforms globally.

• Offers refund of withdrawal fee charged by other exchanges for every crypto deposit made on Bitbns.

6. Binance

Founded: 2017

Founders: CZ (Changpeng Zhao) and Yi He

If you even mildly follow crypto news, you must have heard of the world's largest crypto exchange Binance, right? Not only did they come into the headlines after announcing partnership with Cristiano Ronaldo in 2023, they were again in the news for their role in FTX’s collapse. But nonetheless, Binance has been among the global leaders in crypto space.

Key Features:

• Offers a massive collection of over 600 cryptocurrencies and diverse trading options like spot trading, futures, margin trading, P2P trading, etc

• Through its high trading volume, Binance offers unmatched global high liquidity by ensuring investors can execute trades quickly and at favorable prices.

• Offers low trading fees, which can further be reduced by using BNB (Binance Coin) for transactions.

• Prioritizes user security with features like two-factor authentication, cold storage for funds, and a Secure Asset Fund for Users (SAFU) to protect against potential losses from security breaches.

• As Binance operates in multiple countries and complies with regulatory standards in various jurisdictions, this enhances its credibility as a trusted exchange.

7. Coinswitch Kuber

• Founded: 2017

• Founders: Ashish Singhal, Govind Soni and Vimal Sagar Tiwari

Coinswitch is another leading crypto exchange platform in India, whose focus on customer obsession is visible through its platform and its offerings, aimed at making them simple, safe and accessible to everyone, be it a retail investor or HNIs or institutional investors.

Key Features:

• Offers a lot of calculator tools for investors-such as crypto return and tax calculator, EMI calculator, SIP calculator etc.

• Its focus on simplicity in user interface and features makes it appealing to first-time crypto investors.

• Offers many personalized investment approaches such as Smart Invest and CoinSwitch Pro.

• By acting as a crypto exchange aggregator platform as well, CoinSwitch is able to offer real-time prices and liquidity from other crypto exchanges, thus enabling users like you to compare rates and choose the most favorable ones for trading.

8. Unocoin

• Founded: 2013

• Founders: Sathvik Vishwanath, Harish BV, Abhinand Kaseti and Sunny Ray

Unocoin was the first crypto exchange platform to enter the Bitcoin space in India, more than a decade ago in 2013. It aims to help investors unlock financial freedom through the crypto ecosystem. It also runs a ‘Crypto Wealth Club’, which is an exclusive community for individuals who want to maximize their crypto wealth.

Key Features:

• Enables investors to buy/sell Bitcoin instantly

• Allows high-frequency order matching engine with open order book

• Offer a consolidated wallet for crypto-holdings

• Also shows a live price tracker widget

• Offers a feature to do Mobile/DTH recharge with Bitcoin

• Enables you to hedge against the market volatility using Unocoin SBP (Systematic Buy Plan) module to automate bitcoin buying with fixed amount and frequency.

• Lets you view merchant transactions by providing complete history through the merchant gateway.

9. Delta Exchange

Founded: 2018

Founders: Pankaj Balani, Jitender Tokas and Saurabh Goyal

Delta Exchange is a high-performance crypto derivatives exchange for both retail and institutional traders. While it was founded in 2018, Delta officially launched its Indian platform in June 2024, and it claims to be India’s first and only crypto platform to offer options trading.

Key Features:

• Enables you to trade crypto without owning it. You cannot deposit or withdraw crypto through the platform, but can trade in crypto by depositing and withdrawing in Indian currency (Rupees).

• Offers Futures, Perpetuals & Options trading across Bitcoin and leading Altcoins with up to 100x leverage.

• Delta also has a suite of innovative product offerings such as Interest Rate Swaps, Calendar Spreads, Turbo Options and Robo Trading Strategies.

• Offers pro-trading features such as basket orders with margin benefits, strategy builder, Deep trading through OTM/ITM options strikes, P&L analytics.

*10. WazirX

Founded: 2017

Founders: Nischal Shetty, Sameer Mhatre and Siddharth Menon

It's fair to say that WazirX was once India's leading cryptocurrency exchange. But last year in July, a cyber-attack against WazirX did not just whisk away more than $230 million in assets, but also sent shockwaves into the lives of thousands of its investors, as crypto withdrawals were halted on the platform. Post that huge hack, WazirX has stopped taking fresh crypto investments and deposits.

• Some ray of hope?

  Earlier this year, in January 2025, WazirX’s founder Nischal Shetty had mentioned that WazirX had managed to freeze about $3 million in stolen assets (USDT),i and s fully committed to recovering the stolen funds “leaving no stone unturned to maximize recoveries under a scheme. And then in February 2025, WazirX mentioned it has completed rebalancing of net liquid assets on the platform and will resume trading within 10 days of the implementation of the restructuring scheme. If creditors approve WazirX’s restructuring proposals, users may be able to start receiving stolen crypto assets as early as April 2025.

  

Conclusion

In conclusion, we all can agree that the cryptocurrency landscape in India is vibrant and rapidly evolving, with several platforms leading the charge in innovation and user engagement. Despite regulatory uncertainties and high taxation, the crypto market continues to grow, driven by platforms like BitSave, CoinDCX, ZebPay, Murdex and others, which offer diverse features and services to cater to both novice and experienced investors.

With the Indian government seeming to become ready to review its otherwise opposing stance on cryptocurrency, the future holds promise for further growth and integration of digital currencies into the mainstream financial ecosystem. With a focus on security, user education, and innovative investment options, its fair to say that these crypto platforms are well-positioned to capitalize on the expanding crypto market in India.

Please note that this is an opinion blog and not official research advice. This blog aims to promote informed decision-making and neither encourages nor discourages you from investing in any asset class.

We plan to come up with more blogs discussing different types of instruments available in the world of startup investing, write on due diligence for some platforms, and also existing and upcoming alt investment deals in the Indian market. If you want to dig deeper into the world of alternative investments and reach out to various founders, leaders and investors in this industry, join our free community by clicking here!