by Looking for the best WazirX alternatives?
And why would you not?
| Exchange Name | Transaction fee | Native Token | Markets |
| KuCoin | 0.1% | Yes (KCS) | 400 |
| CoinDCX | 0.04-0.1% | NA | 379 |
| Binance | 0.03-0.25% | BNB | 265 |
| ZebPay | 0.10-0.25% | NA | 42 |
WazirX Cyber Attack Incident has shocked the entire crypto community of India, as hackers seem to have stolen close to $230 million in. crypto-assets from WazirX. While this may take some time (months or more) before WazirX resumes its normal operations, for you as a user, it is better to use a secure alternative to WazirX for crypto trading and investment.
WazirX used to be one of the top Indian crypto exchanges, it is currently struggling with hacking issues, and struggling to keep up with the huge demand by Indian users. This results in poor customer support, and a lot of queries are unresolved even after weeks of follow-up.
Just because of the incompetence of WazirX, you don’t want to miss out on investing in projects that could be bigger in no time. After all, every second matters in the world of the cryptosphere. To ease your pain, here I’m sharing a list of alternatives to WazirX that directly or indirectly deal in INR, and help you invest or trade in cryptocurrencies.
Note: India instituted a 30% tax on profits and a 1% tax deducted at source (TDS) on all transactions for the crypto sector in 2022
Disclaimer – Cryptocurrencies are unregulated in India, and investing in cryptocurrencies could be risky for your capital. Make sure to understand crypto investing and consult your local law before starting crypto investing or trading in India. CoinSutra is an international publication and takes no responsibility of any financial loss. This list of WazirX alternatives is for educational purposes only.
Moving ahead, here are the top WazirX competitors that you could sign up for.
Page Contents
Top WazirX Alternatives for Indians 🇮🇳:
1. Binance – Resumed its services in India
Many of you might not be aware of this, but Binance is now a compliant entity with India’s Financial Intelligence Unit (FIU-IND. On 15th August 2024, Binance announced that it has now resumed its services in India, and now you can legally use Binance in India.
Last year, Binance was banned by Indian authorities, and their website, apps were blocked and removed from India. After KuCoin, Binance become the 2nd top International exchange that is offering its services to Indian users. Binance’s website and application are now fully available for Indian users, providing them with access to Binance’s comprehensive suite of services and tools tailored to meet their needs.
Note: At this moment, Binance is the best WazirX alternative for trading. INR deposits and withdrawals are available via P2P, and it might take time to see direct bank integration. TDS reporting feature like what WazirX used to offer, is yet to be available on Binance.
2. KuCoin – India’s First Compliant Global Crypto Exchange
KuCoin is one of the first global crypto exchange to meet FIU (Financial Intelligence Unit) in India. Globally it is #7 crypto exchange, and with KuCoin, you will be able to buy/sell and trade in all majority of cryptocurrency.
KuCoin is also integrating an internal system for TDS submission which will take away the headache from Indian users, and let them enjoy the exposure of global crypto exchange.
If you are looking for best alternatives to Indian exchange such as WazirX or others, KuCoin is your best solution.
3. CoinDCX:
CoinDCX is an Indian crypto exchange that offers decent liquidity, instant INR deposit, and withdrawals, has an excellent reputation, and perhaps better customer support than WazirX.
If you have used WazirX before, you will have no problem getting started with CoinDCX.
CoinDCX was founded on 7th April, 2018 and has offices across India.
When writing this resource, CoinDCX lets you invest or trade in almost 375+ Cryptocurrencies. CoinDCX is available on the web and has a mobile app for Android and iOS.
If you want to learn more about CoinDCX, you can read my earlier CoinDCX review.
4. ZebPay:
ZebPay is the oldest Indian crypto exchange, and they have quite a story. The one complaint I have with ZebPay is, when regulations become tough in India (After RBI’s temporary Ban), ZebPay shuts down its operations in India.
It was only in recent times, ZebPay resumed its service in India, and based on the traffic and engagement chart, they rank the lowest as a WazirX alternative. It would be exciting to see if ZebPay could get back its old status of #1 exchange back or not.
Also, see: ZebPay Alternatives
However, this should not be meant their service quality is poor, as they have one of the finest mobile apps for Indian crypto investors. According to the CoinMarketcap data, ZebPay lets you invest in only 42 crypto-assets. ZebPay also charges membership fees from users not actively trading on the platform.
Conclusion: Which is the best WazirX alternative:
Well, the answer lies in your understanding of the cryptocurrency world. If you are a complete newbie, you are better off using something like Binance or KuCoin.
They have been around for a while and are adding quality projects at speed.
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