Because of this rise in popularity, millions of Indians have used crypto exchanges to buy and sell cryptocurrencies. Although the country has yet to regulate cryptocurrencies, Indian investment in the space has surged by nearly 20,000% to $40 billion (from $200 million) in the previous year.
However, the prospect of putting money into cryptocurrency can be intimidating to newbies. Exchanges specifically designed to trade crypto are the most reliable and secure option.
Markets vary in trading pairings, deposit methods, and fees. These markets may offer the most essential feature: security. Keeping your holdings safe and trading on trusted exchanges is the most important as digital asset market capitalization rises. Exchanges have improved and become safer as the crypto industry has grown.
Despite the government’s ambiguity, Indians are buying more cryptocurrency. Why the spike?
Falling internet costs, growing real estate values, and greater taxes on metals such as Silver and Gold could be factors in the shift away from digital assets to physical assets. Indian entrepreneurs recognized an opportunity to create crypto exchanges due to high inflation and inefficient investing options.
If you want to know which exchanges are the most secure, you should read this article and visit Coinwire news to read more daily crypto news. We’ll discuss the safest crypto exchanges which are both international and local.
eToro
eToro, the industry veteran, predates Bitcoin. eToro is among the first online brokerages since 2007. Clients can now invest in shares, ETFs, commodities, and cryptocurrencies thanks to the firm’s growth. It simplifies financial planning and transactions.
Coinbase
Coinbase is the safest for user funds among the world’s largest cryptocurrency exchanges. With offline cold storage, the exchange stores most customers’ digital assets. Coinbase requires a text message code to validate your phone number. Coinbase uses 2FA (two-factor authentication) to secure your account. Coinbase has cleared tighter financial and safety restrictions because it’s publicly traded.
If you remove your Coinbase account, you can still retrieve your data. Request Coinbase to delete your data. User data is handled responsibly by Coinbase.
Gemini
Gemini could be the most secure exchange. Gemini, a NY trust business, must pass its regular bank tests as well as comply with the New York Department of Financial Services’ strict cyber security rules. In the crypto world, Gemini is the first exchange, also custodian to pass SOC 2 Type 2, SOC 1 Type 2, and ISO 27001.
Gemini’s SOC 1 report investigates its reporting controls and financial operations while its SOC 2 report examines its availability, security, and confidentiality.
Gemini stores most of its cryptocurrency offline in an air-gapped cold storing system. Keep a small amount in your insured “hot wallet” for quick purchases. This site uses hardware security solution and two-factor authentication.
Kraken
Kraken and Gemini may offer similar transaction security. They follow Canadian, US, UK, Australian, and other banking norms. The exchange remains safe since 2011. Kraken’s servers are guarded 24/7 by armed security staff.
Kraken holds all of its funds in cold storage and uses air-gapped cold storage to protect 95% of its deposits. In order to find security flaws, they use bug bounties and penetration testing. Two-factor authentication and phone/chat support are offered around the clock, every day of the week.
CoinSpot
CoinSpot is a reliable Australian cryptocurrency exchange. AUSTRAC’s AML (Anti-Money Laundering) requirements are followed. The Australian Digital Commerce Association also includes it.
CoinSpot users undergo thorough verification. Bank-grade security and a method that enables many cryptocurrencies in a single wallet minimize the risk of a breach or hack. CoinSpot enables two-factor authentication which requires phone approval for transactions.
WazirX
WazirX is India’s most popular cryptocurrency exchange with 1.5 crore users. WazirX offers many cryptocurrencies. WazirX is functional and simple to use. The exchange allows the transactions of its native cryptocurrency, WRX. Also, WazirX is an Indian peer-to-peer cryptocurrency exchange. Moreover, WazirX supports web, Android, iOS, and Windows.
CoinDCX
Another famous Indian cryptocurrency exchange, CoinDCX, is trusted by users. CoinDCX offers futures, margin trading, staking, loans, and more. CoinDCX’s advanced trading features will please well-versed cryptocurrency traders. CoinDCX uses industry-leading two-factor authentication. Cryptocurrency holders can earn interest via staking.
Coinswitch Kuber
Coinswitch Kuber is ideal for cryptocurrency beginners. Even if the exchange needs more features and coins, users still like it, thanks to its high security. To educate people about cryptocurrency, the exchange has created many manuals and videos. Coinswitch Kuber offers free Bitcoin transaction fees.