India’s crypto landscape has evolved rapidly in the last five years. Today, over 25 million Indians are estimated to own digital assets, and crypto exchanges have grown into major fintech platforms, some now rival traditional financial institutions in terms of scale and user base.
Even as the regulatory environment remains uncertain, with a 30% tax on crypto gains and growing interest in Web3, a few Indian exchanges have managed to thrive. They’ve built credibility by focusing on compliance, transparency, and offering strong, user-friendly features.
In this article, we explore India’s top 7 crypto exchanges in 2025, ranked based on popularity, reliability, features, and overall user experience.
1. CoinSwitch: India’s Most Popular Crypto Platform
Founded: 2017
Founders: Ashish Singhal, Govind Soni, Vimal Sagar Tiwari
Headquarters: Bengaluru
Estimated Users: 20 million+
CoinSwitch didn’t just enter the market; it understood what India needed. What began as a basic crypto aggregator quickly evolved into a platform used by over 20 million people across the country.
The team knew that not everyone’s a pro, so they built two separate apps: Kuber, which keeps things simple for beginners, and PRO, which gives traders more depth and control.
What really worked in CoinSwitch’s favor? Simplicity. Signing up is smooth, INR deposits happen instantly through UPI and NEFT, and there’s no clutter or confusion in the app. For a lot of users, especially in smaller cities, that clarity makes all the difference.
In addition to their transparency around reserves and solid focus on compliance, it’s easy to see why CoinSwitch became a household name in Indian crypto.
Key Features
- Dual app system: Kuber (simplified), PRO (advanced trading tools)
- INR on-ramp through UPI, IMPS, and bank transfers
- Live charts, order books, and price alerts on PRO
- Over 170 listed tokens
- Proof-of-reserves transparency, SOC 2 compliant
Pros
- User-friendly for beginners
- Rapid KYC and instant INR settlement
- Regular educational campaigns and updates
Cons
- Fully custodial (no external wallet withdrawals)
- Higher fees on Kuber compared to PRO
CoinSwitch has become the first real mass-market crypto app in India. While its custodial nature limits freedom for advanced users, it remains unmatched in scale and user trust.
2. CoinDCX: Feature-Packed and Regulation-Focused
Founded: 2018
Founders: Sumit Gupta, Neeraj Khandelwal
Headquarters: Mumbai
Estimated Users: 16 million+
CoinDCX combines a compliance-first architecture with deep functionality. It has consistently led India’s push toward institutional legitimacy, registering with the Financial Intelligence Unit (FIU) and adopting ISO-certified information systems.
CoinDCX is especially popular among full-time traders and crypto professionals, offering margin trading, derivatives, lending, and staking across over 500 assets. Its educational initiative, DCX Learn, and its INR 50 crore protection fund add another layer of user safety.
Key Features
- Over 500 supported cryptocurrencies
- Margin and futures trading with up to 10x leverage
- Staking and crypto lending services
- Dedicated CoinDCX Pro app for serious traders
- Tax-friendly tools and 24/7 support
Pros
- Rich trading and investment features
- High-grade security and compliance
- Fast INR deposits and withdrawals
Cons
- Crypto cannot be withdrawn to external wallets
- Some reports of slow app performance during market surges
CoinDCX is perfect for experienced traders seeking both functionality and compliance. While its custodial model has its critics, the exchange’s focus on regulation helps it stay future-proof.
3. ZebPay: India’s Oldest and Most Trusted Brand
Founded: 2014 (relaunched 2020)
Founders: Sandeep Goenka, Mahin Gupta, Saurabh Agrawal
Headquarters: Singapore (operational presence in India)
Estimated Users: ~6 million
ZebPay has been around longer than most. Launched in 2014, it saw the early ups and downs of India’s crypto scene, from RBI restrictions to regulatory uncertainty, and still managed to stick around. After a brief pause, it made a comeback in 2020 and has since rebuilt its place in the market.
What sets ZebPay apart even today is the freedom it offers: users can withdraw their crypto to personal wallets, something that many Indian platforms still don’t allow. For a lot of long-time users, that’s a big deal.
This simple feature makes it a top choice for users who believe in the foundational ethos of crypto: financial sovereignty. ZebPay also offers lending services, allowing users to earn passive income from idle assets.
Key Features
- 100+ cryptocurrencies supported
- Crypto lending with up to 8.5% APY
- Full crypto withdrawal access
- Insured cold storage custody (98%)
- Minimalist, mobile-first design
Pros
- Supports external crypto wallets
- Strong security and withdrawal reliability
- Lending features for passive income
Cons
- The interface feels dated compared to newer platforms
- Inactivity and withdrawal fees on some tokens
ZebPay appeals most to users who prioritize control, withdrawal rights, and security over flashy UI and new-age integrations.
4. Mudrex: Passive Investing for the Indian Masses
Founded: 2018
Founders: Edul Patel, Alankar Saxena, Rohit Goyal, Prince Arora
Headquarters: Bengaluru
Estimated Users: 1 million+
Mudrex was made for people who don’t want to sit and track crypto prices all day. Instead of active trading, it lets users invest in ready-made bundles of coins called Coin Sets—these are grouped by themes like DeFi, Layer 1 blockchains, or the Metaverse.
There’s also a Vaults feature that lets you stake your crypto and earn passive income. It’s a solid option for anyone who wants to invest smartly without getting into the daily grind of trading.
Security is a big focus for Mudrex, with assets custodied via Binance and protected by insurance and biometric controls. It’s a low-fee model that supports both casual and disciplined investing.
Key Features
- Coin Sets based on sectoral themes
- Vaults with fixed yield offerings
- Fee discounts for premium tiers
- 150–600 tokens, depending on the plan
- FIU-registered with global custody partners
Pros
- Great for long-term investors
- Transparent fee model
- Easy-to-use even for non-tech users
Cons
- Limited tools for active traders
- Some delays reported in Fiat withdrawals
Mudrex is ideal for salaried professionals, students, and anyone seeking hands-off wealth building in crypto.
5. Unocoin: Legacy Simplicity, Proven Stability
Founded: 2013
Founder: Sathvik Vishwanath
Headquarters: Bengaluru
Estimated Users: ~3 million
Unocoin earned its stripes when crypto was still a grey area in India, long before it became mainstream. As the country’s first Bitcoin exchange, it built trust at a time when most people didn’t even know what crypto was.
Today, it sticks to the basics: simple buy-sell options, SIPs for regular investments, staking to earn passive returns, and the freedom to withdraw crypto to your own wallet.
Its strength lies in reliability. INR deposits and withdrawals work seamlessly, even for users in rural regions. While Unocoin hasn’t embraced every feature trend, it remains a stronghold of trust.
Key Features
- Supports top 50–80 crypto assets
- Bitcoin SIP plans with auto-dedication
- Staking rewards for long-term holders
- External wallet support
- Quick KYC and bank integration
Pros
- Seamless fiat onboarding
- Simple interface ideal for elders/new users
- Crypto exit and entry support
Cons
- Limited asset variety
- No derivatives or margin tools
Unocoin is a low-friction platform for conservative crypto users who value reliability over range.
6. BuyUcoin: SIPs, OTC, and Affordable Trading
Founded: 2016
Founders: Shivam Thakral, Devesh Aggarwal, Atulya Bhatt
Headquarters: Delhi NCR
Estimated Users: Moderate (est. under 2 million)
BuyUcoin is a mid-tier platform with unique appeal among large-volume traders and disciplined investors. It supports over 100 cryptocurrencies and offers tools like zero-fee OTC desks and systematic investment plans (SIPs).
It may not be the flashiest platform, but it provides strong INR support and compliance. However, users have occasionally flagged concerns about withdrawal lags and sluggish customer service.
Key Features
- OTC desk for large volume trades
- SIP investing tools
- INR via UPI, RTGS, IMPS
- Custodial wallet protection
- Regulated and FIU-registered
Pros
- Best for SIP and high-volume trades
- Strong fiat-to-crypto rails
- Simple, clean UX
Cons
- Moderate liquidity for less popular tokens
- Withdrawal delays were reported during peak hours
BuyUcoin serves a niche, but growing, audience of professionals seeking consistent crypto access without overwhelming complexity.
7. Bitbns: From Rising Star to Reputation Risk
Founded: 2017
Founder: Gaurav Dahake
Headquarters: Bengaluru
Estimated Users: Declining (previously several million)
Bitbns used to be one of the more innovative names in India’s crypto space. It was the first to roll out features like crypto SIPs, futures trading, and tokenized assets, well ahead of the curve. But things took a turn after 2022.
Users began facing serious issues with stuck withdrawals, and when things got rough, the platform pretty much went silent. No updates, no clarity, just radio silence when people were looking for answers.
Even with over 400 coins and all the advanced tools, the damage was done. Bitbns lost a lot of trust, and in crypto, once that trust is gone, it’s tough to earn it back.
Key Features
- Wide token access (400+)
- Futures, SIPs, and margin trading
- BNS token loyalty benefits
- Smart APIs for algorithmic trading
Pros
- Rich in features
- Fee discounts through native token
- Institutional tool access
Cons
- Withdrawal freezes reported since 2022
- Legal concerns and opaque communication
Bitbns might still have some loyal users, but for anyone new to crypto, it’s just not worth the risk unless there’s solid proof that your funds are safe.
Final thoughts
In crypto, trust and transparency aren’t optional; they’re everything.
The Indian crypto exchange space is growing, but not without lessons. While new features and token listings are important, nothing trumps the importance of user fund security, withdrawal rights, and regulatory compliance.
Platforms like CoinSwitch and CoinDCX offer broad reach and features, but restrict wallet freedom. ZebPay and Unocoin provide old-school control with modern touches. Mudrex leads in automation, and BuyUcoin supports disciplined strategies. Bitbns, once a leader, now struggles with trust.
As India slowly figures out its stand on crypto, the platforms that’ll survive are the ones that stay transparent, play it safe, and put users first, not just chase numbers. So pick your exchange wisely.
Disclaimer: This piece is just for info, not financial advice. Always do your own research before investing.
Also Read: The 11 Best Crypto Exchanges to Use in 2025