Sell cryptocurrency, use an exchange
Using a centralized exchange like Coinbase is one of the simplest methods to cash out your Bitcoin or cryptocurrency. You may select which cryptocurrency you wish to sell and how much with Coinbase’s user-friendly “buy/sell” button. With Coinbase, you may easily convert cryptocurrencies into cash by accessing your cash balance. If you’d like, you may move the funds to your bank account.
Furthermore, if you don’t already have custody of your coins, it’s probably best to sell them through the exchange that now has them, even if Coinbase is a well-liked choice. The top exchanges are Kraken and BitNasdaq, among others.
Sell Cryptocurrency Using your Broker
The simplest option is to work with the broker who currently owns your cryptocurrency. You’ll have the money in your account and be able to trade once more when the deal is finished.
Select a Peer-to-Peer Exchange
Selling Bitcoin to someone directly through an intermediary is another option. Though it is possible to do it in person if necessary, the most common method is through a peer-to-peer internet platform that enables sellers to discover the best deals through an exchange.
Peer-to-peer internet trading allows you to sell cryptocurrencies for US dollars. An exchange frequently facilitates these transactions, and BitNasdaq as well as Binance operate the well-known peer-to-peer P2P online platform. Your cryptocurrency is escrowed by the site once you accept a deal.
Binance will release the cryptocurrency to the buyer. The site escrows your cryptocurrency transaction record in the payment account and confirms that you have received the money from the buyer.
The internet portal Paxful is an additional well-liked choice. In addition to having the freedom to determine their own prices, sellers have access to over 350 different payment methods, including cash, gift cards, and other virtual currencies. The platform’s website states clients may sell directly to more than 12 million customers globally.
Leading Cryptocurrency Trading Platforms in India
After extensive research on over 15 important cryptocurrency platforms, we have identified the top exchanges for Indian investors:
Binance is the best overall cryptocurrency exchange in India, with the safest and most user-friendly trading interface. Binance India provides a dynamic and broad trading environment with over 350 trading pairs and quick Indian Rupee deposits. Binance India’s steadfast commitment to complying with local regulations further solidifies its position as the best overall exchange in the country.
- Expense: Spot trading is 0.1% and derivatives have maker/taker fees of 0.02%/0.04%.
- Supported cryptocurrencies: More than 350 cryptocurrencies are available on Binance.
- Regulation and licensing: Licensed, regulated globally and available in India
- Customer service: 24/7 live chat in Indian, Discord, Twitter, Email and more.
- INR deposit method: Bank transfers, IMPS transfers, NFTs, IPS, debit cards, credit cards and more.
It is one of the best alternative platforms for investing and trading cryptocurrencies in India. This Singapore-based exchange offers up to 100x leverage on perpetual contracts, making it one of the largest and most popular cryptocurrency exchanges in the industry.
- Supported Tokens: More than 400 cryptocurrencies.
- Proof of reserve: Providing transparency
- Customer support options: Live chat, email, ticketing system, phone, and social media.
- INR deposit method: Bank transfer, debit card, credit card, and UPI
CoinDCX is a crypto exchange founded in 2018. It is the largest cryptocurrency exchange in India with over 13 million registered users and holdings of over 20 billion USD cryptocurrency. CoinDCX has many features, including spot and derivatives trading, cryptocurrency staking, and an advanced trading platform called CoinDCX Pro.
- Expense: There are no fees for depositing or withdrawing funds from CoinDCX. There is a 0.% spot market rate and the futures maker/taker discount is 0.02%/0.05%.
- Supported Tokens: More than 200 cryptocurrencies.
- Proof of reserve: No proof of booking provided.
Best Cryptocurrencies by Market Capitalization
The term “market capitalization” is often used to determine the best cryptocurrency exchange in India to buy and sell bitcoin instantly. Cryptocurrencies with larger market capitalization for cryptocurrency are considered desirable by investors. Since the emergence of cryptocurrency in 2009, Bitcoin has remained at the top in terms of market capitalization.
Since market capitalization fluctuates based on the price of a cryptocurrency, receiving up-to-the-minute updates is essential. Most cryptocurrency aggregators and exchanges like BitNasdaq provide real-time updates on the market capitalization, price, and circulating supply of an asset.