#AppStories: 5 apps for cryptocurrency trading in India
World's most popular cryptocurrency Bitcoin's valuation has had some dramatic fluctuations over the past one year. It picked up the pace in May'17 from $2,000 to $20,000 in Dec'17 and plummeted to $6,046 in Feb'18. However, Bitcoin is finally regaining, reaching $6,300 as on 1 July'18. It's a good time for investments as the price is comparatively low. Here are 5 apps you can use for cryptocurrency trading in India.
Zebpay: Lets you check prices of cryptocurrencies with 'rate widget'
Leading Bitcoin exchange Zebpay is one of India's most popular Bitcoin platforms. Users need to verify their account, complete eKYC, and link bank account to transact on Zebpay. Money deposited in their Zebpay-account will be used to buy Bitcoin. Limits (per transaction) are: 0.000001 (min) and 100 BTC (max) for deposits; and 0.0005 (min) and 5 BTC (max) for withdrawals.
Bitbns: In addition to banks, also accepts payments via Paytm
The next best crypto trading app is 'Bitbns' which lets you trade multiple virtual currencies including Bitcoin, Ripple, Ethereum, and many more at real-time prices. In addition to banks, it allows you to make instant deposits and payments using UPI apps like BHIM, Paytm, PhonePe, and Tez. It also supports NEFT, RTGS, and IMPS for all INR deposits.
Unocoin: Besides trading, allows you to recharge mobile/DTH with Bitcoins
You may also choose to trade in cryptocurrencies using the mobile app called 'Unocoin Wallet'. Unocoin charges 1% fee for buying/selling. It also has SIP (Systematic Investment Planning) option for Bitcoin. After account registration/verification, users can deposit money to Unocoin wallet to buy up to 10 BTC and sell 2 BTC (per day). It also lets you recharge your mobile phones/DTH with Bitcoins.
WazirX: Allows minute-by-minute price tracking of cryptocurrencies
The next app for trading in virtual currencies like Bitcoin, Ethereum, Ripple, Zilliqa, Litecoin and various others is 'WazirX'. It comes with a simple and powerful user interface with real-time open order books, trade histories, deposits, and withdrawals. It also lets you keep a minute-by-minute track of the prices of all virtual currencies. They themselves claim it to be "India's most secure exchange."
Coinomi Wallet: Lets you trade in 100+ digital coins anonymously
The last but definitely not the least app which has featured on our list is 'Coinomi Wallet'. This app allows you to trade 100+ digital coins including Bitcoin, Ethereum and a number of Altcoins and Tokens. Moreover, this app does not require you to submit any KYC or IP association details, thereby allowing you to trade anonymously.
Read this before you start investing in Bitcoin
It is essential to understand that while Bitcoin platforms often try to provide security to users' assets, their investments are not always safe. For example, in April'18, Coinsecure reported that it lost over 438 BTC in India's largest Bitcoin theft that affected as many as 11,000 users. Also, India's Finance Ministry and RBI issued warnings against cryptocurrency investments, cautioning investors about potential risks.
