- Indian cryptocurrency market projected to grow at 9.83% between 2023-2027.
- WazirX, Bitbns, KoinBX, CoinDCX, and ZebPay lead Indian crypto industry.
- CoinDCX supports over 500 tokens, with a user base of 13 million.
Based on the analysis conducted by Statista, a renowned online global economic data portal, it is projected that the Indian cryptocurrency market will witness a substantial growth rate of 9.83% between 2023 and 2027. This growth trajectory is anticipated to culminate in a market volume of $324 million for the sector by 2027. Notably, the Indian crypto industry is spearheaded by the top-five crypto exchanges, namely WazirX, Bitbns, KoinBX, CoinDCX, and ZebPay, which have emerged as frontrunners regarding user base.
WazirX
Established in 2018, WazirX has gained recognition as India’s premier cryptocurrency exchange, renowned for its rapid growth. Reports indicate that it caters to a staggering user base of over 15 million individuals. WazirX extends its services to a global audience, facilitating swift fiat deposits and withdrawals. Notably, the platform offers a convenient “Login via Binance” feature, further enhancing user accessibility.
Bitbns
Established in 2017, Bitbns has swiftly emerged as a leading cryptocurrency exchange in India, garnering a user base of over 3 million individuals. Notably, Bitbns has pioneered the introduction of Bracket Orders, making it the first crypto exchange to do so, per internal sources. The platform currently boasts an extensive selection of 468 tokens listed for trading, as indicated on its official website. Additionally, Bitbns offers a convenient P2P FIAT deposit and withdrawal mechanism, enhancing its user experience.
KoinBX
KoinBX is a prominent international cryptocurrency exchange renowned in the Indian market. This cutting-edge platform empowers users to effortlessly buy, sell, and trade Bitcoin and an extensive range of other cryptocurrencies. According to the comprehensive data provided by CoinmarketCap, KoinBX supports an impressive array of 94 crypto tokens, enabling users to trade and exchange them across various markets seamlessly. Additionally, KoinBX offers a convenient mobile version, empowering users to trade cryptocurrencies while on the move conveniently.
CoinDCX
CoinDCX, established in 2018, is a prominent cryptocurrency exchange from India. It prides itself on providing swift and feeless transactions and a unified platform for various financial services. CoinMarketCap data reveals that CoinDCX supports an extensive range of more than 500 tokens, making it the leading crypto exchange in India regarding listed cryptocurrencies. Boasting an impressive user base exceeding 13 million, CoinDCX has garnered support from esteemed investors such as Polychain Capital, Coinbase Ventures, Bain Capital Ventures, and HDR Group, the operator of BitMEX.
ZebPay
ZebPay, a prominent cryptocurrency exchange, holds a strong foothold in the Indian market. Since its inception in 2014, ZebPay has expanded its operations to various global regions. With a user base in the millions, Indian customers can conveniently access the exchange through either the mobile app or web interface. Additionally, ZebPay offers over-the-counter (OTC) services catering to high-volume traders. According to CoinMarketCap, ZebPay boasts an impressive listing of 105 crypto tokens. The platform’s user count has surpassed the 5 million mark, further solidifying its position in the industry.
