- India has no license for crypto exchanges. An exchange that serves Indian users must register with FIU-IND as a reporting entity under the money-laundering law. On 9 March 2026, 54 providers were registered, including CoinDCX, CoinSwitch, ZebPay, WazirX, Mudrex, Giottus, Bitbns, Unocoin, Binance, KuCoin, Bybit and Coinbase.
- FIU-IND does not publish its register. The list here comes from the government’s answer to the Lok Sabha of 30 March 2026.
- FIU-IND has ordered the blocking of apps and websites of unregistered offshore exchanges, among them OKX, Bitget, MEXC, Kraken, Gate.io and Crypto.com, and fined Binance ₹18.82 crore and Bybit ₹9.27 crore.
- Fees differ: from 0.1% to 0.45% on the order book and 0.5% or more for a simple buy, with 18% GST on top. Some exchanges limit or block withdrawals to your own wallet, for example CoinSwitch PRO.
- There is no deposit guarantee or compensation scheme for crypto. The government warns there “may be no regulatory recourse for any loss”.
This page compares the crypto exchanges that serve residents of India and explains how to check one. We do not rank or recommend any exchange, and there are no affiliate links. Fees change often: the figures below are what each exchange published on its own pages in October 2026. Whether a provider is registered comes from the Ministry of Finance’s list given to Parliament. The rules behind registration are on regulation.
Who may serve you
Since March 2023 every provider that exchanges VDAs and fiat currencies, transfers VDAs or holds them for customers must register with the Financial Intelligence Unit-India (FIU-IND) as a reporting entity, also if it is based abroad. This is a registration for anti-money laundering purposes, not a license: the government says crypto-assets “are unregulated in India”. FIU-IND has not made its list public, because a public list “may create the impression that registered entities are licensed, approved, or endorsed by the government”. The Ministry of Finance did give the full list to the Lok Sabha.
These are the exchanges most used by consumers in India, as they appear among the 54 VDA service providers registered with FIU-IND on 9 March 2026:
| Exchange (trade name) | Registered entity | Country (as listed) | Also on the list of December 2024 |
|---|---|---|---|
| Binance | Nest Services Limited (earlier Binance International Limited) | Seychelles | Yes |
| Bitbns | Bitbns Internet Private Limited | India | Yes |
| BuyUcoin | IBLOCK Technologies Private Limited | India | Yes |
| Bybit | Bybit Fintech Limited | Seychelles | No |
| Coinbase | Coinbase India Private Limited (linked to global Coinbase) | India | No |
| CoinDCX | Neblio Technologies Private Limited | India | Yes |
| CoinSwitch | Bitcipher Labs LLP | India | Yes |
| CoinSwitchX | Nextgendev Solutions Private Limited | India | Yes |
| Delta Exchange | Excelium Technologies Private Limited | India | Yes |
| Giottus | Giottus Technologies Pvt Ltd | India | Yes |
| KoinBX | Kooz Advisors and Technologies Private Limited | India | Yes |
| KuCoin | Peken Global Limited | Seychelles | Yes |
| Mudrex | RPFAS Technologies Private Limited | India | Yes |
| Pi42 | Lightningnodes Technologies Private Limited | India | Yes |
| Unocoin | Unocoin Technologies Pvt Ltd | India | Yes |
| WazirX | Zanmai Labs Pvt Ltd | India | Yes |
| ZebPay | Awlencan Innovations India Limited | India | Yes |
FIU-IND publishes no registration dates. The last column shows whether the provider was already on the list of 47 registered providers that the government gave the Lok Sabha on 2 December 2024. In the March 2026 list, nine providers are marked as not operational or wound up, and three (PlatinX, Parracrypto and BitDelta) as “conditionally on-boarded”. Many of the 54 are not exchanges for consumers but, for example, payment on-ramps, NFT platforms or custody firms.
Not registered
FIU-IND says it keeps “a dynamic list of virtual asset service providers who are not registered”. By 9 March 2026 it had directed the takedown of the apps and websites of 53 exchanges, including OKX, Bitget, MEXC Global, Kraken, Gate.io, Bitfinex, Bitstamp, Crypto.com, Gemini, Huobi, Bitmart, BingX, Phemex, Poloniex, Paxful and Moonpay. On 9 September 2026 it added 15 more, including WhiteBIT, XT.com, WOO X, Pionex, ChangeNOW, SimpleSwap, FixedFloat and Blofin. The takedown list of March 2026 also names Binance, KuCoin, Bybit and Coinbase, which appear on the registered list as well.
Fees compared
The table shows what each exchange’s own pages said on 8 October 2026, for a normal customer at the lowest fee level. “Simple buy” is the buy button in the app; “order book” is the trading screen (maker / taker). A spread is the difference between the buying and selling price and is an extra cost on top of the fee. “Not found” means we could not find or read the figure on the exchange’s own pages. CoinDCX and Bitbns blocked access from our location, so their figures come from archived copies of their own pages (January to September 2026).
| Exchange | Simple buy | Order book (maker / taker) | INR deposit | INR withdrawal | Bitcoin to your own wallet |
|---|---|---|---|---|---|
| Binance | Not found | 0.10% / 0.10% (no INR spot market) | Not found | Not found | Yes, 0.00002 BTC |
| Bitbns | Not found | 0.25% flat | Not found | See below | Yes, 0.0005 BTC |
| Bybit | Not found | 0.15% / 0.20% on fiat pairs, 0.10% / 0.10% on crypto pairs | Not found | Not found | Yes, fee not found |
| CoinDCX | Not found | Not found | Free (IMPS) | Not found | Yes, fee “varies across tokens” |
| CoinSwitch | Included in the price, rate not stated | 0.40% / 0.40% (CoinSwitch PRO) | Not found | Free | No: crypto withdrawals not enabled on CoinSwitch PRO |
| Giottus | No separate fee stated | 0.4% / 0.4% in its fee table; its home page advertises zero fees on INR pairs | Free | Free | Yes, 0.00004 BTC |
| KuCoin | Convert: no fee, but the rate “may include a spread” | 0.1% / 0.1% (no INR pairs) | Only through P2P | Only through P2P | Yes, 0.00009 BTC |
| Mudrex | 0.45% (below ₹2 lakh in 30 days) | Not found | Free | Free | Yes, 2% (minimum $0.5), including GST |
| Unocoin | 0.5% for bitcoin, 0.7% for ETH and USDT | 0.2% / 0.3% | Not found | Not found | Yes, 0.0005 to 0.0009 BTC |
| WazirX | Not found | 0.40% on INR markets, 0% on USDT markets, or a ₹99 monthly plan without trading fees | Not found | ₹10, including taxes | Yes, fee “varies by asset”; see below |
| ZebPay | 0.5% and up | 0.45% / 0.45% | Free | ₹15 | Yes, 0.0002 BTC |
A few things the table does not show:
- GST comes on top. ZebPay, Giottus, Mudrex, Unocoin and WazirX say their fees exclude GST; Giottus, Mudrex and Unocoin name 18%. Bybit says it has charged 18% GST on top of all fees and spreads since 7 July 2025.
- TDS. ZebPay, WazirX, CoinDCX, CoinSwitch, Giottus, Mudrex, KuCoin and Bybit describe on their pages how they deduct the 1% TDS on sales; several also deduct it on both sides of a crypto-to-crypto trade. KuCoin says it applies TDS when your KYC and IP address are Indian, and Bybit since 1 December 2025.
- Unocoin’s spread. Its quoted buy and sell prices for bitcoin on 8 October 2026 were about 8% apart (our calculation), on top of the fee. Only BTC, ETH and USDT traded against rupees on its exchange.
- Bitbns withdrawals. The data behind its fee page lists a free normal rupee withdrawal with delays of “more than 60 bank-working days”, a “temporarily paused” option and an instant option for ₹9. The page does not show which one applies.
- WazirX withdrawals. Its help center says crypto withdrawals “are temporarily blocked after your first INR deposit”, without a timeline.
- Other charges. ZebPay charges 0.0001 BTC a month if you make no trade, and Unocoin 0.0001 BTC a month for inactive accounts.
Features compared
| Exchange | Number of coins (its own claim) | Staking or earn | Recurring buy (SIP) | Futures | Says on its site it is FIU-registered |
|---|---|---|---|---|---|
| Binance | 600+ | Yes | Yes (Convert Recurring) | Listed, availability in India not confirmed | Yes |
| Bitbns | Not stated | Fixed deposits and lending | Through Bitdroplet | Yes | Yes |
| Bybit | 500+ | Yes | Yes (Auto-Invest) | Yes | Says it is “registered with the Indian authorities” |
| CoinDCX | 500+ with INR | Simple Earn | Yes | Yes | Yes |
| CoinSwitch | 400+ | Yes | Yes | Yes, also options | Yes |
| Giottus | 450+ | Yes (SOL, ADA, ETH, TRX) | Yes | Yes | Yes |
| KuCoin | 1,000+ | Yes | Yes | Not found for India | Yes |
| Mudrex | 650+ | Not found | Yes | Yes | Yes |
| Unocoin | 100+ (3 on its exchange) | Earn on USDT | Yes | Yes | Not found |
| WazirX | Not found | No (staking ended in 2020) | Not found | Yes, since 13 May 2026 | Not stated as such |
| ZebPay | 100+ assets | Yes (Earn) | Yes | Yes | Yes |
We found no Indian exchange that offers Bitcoin Lightning withdrawals to Indian users. Earn and lending products and futures carry extra risk, and no Indian regulator supervises them.
How to check a provider
- Look the provider up in the government’s list of registered VDA service providers (Annexure I of Lok Sabha question 5805 of 30 March 2026). Check that the legal entity you sign up with is the one on the list; FIU-IND itself does not publish a register.
- Check the takedown list (Annexure II of the same answer) and FIU-IND’s press releases of 28 December 2023, 1 October 2025 and 9 September 2026 on non-compliant offshore providers.
- Make sure the exchange deducts the 1% TDS on sales and shows it in your Form 26AS or AIS. An exchange that does not is a warning sign, and the tax remains yours to report.
- Read the fee page before you deposit. Look at the spread as well as the fee, at GST on top, and at the cost of withdrawing coins.
Registration with FIU-IND only means the provider must meet anti-money laundering obligations. FIU-IND says that “the Crypto products and NFTs are unregulated and can be highly risky”.
Fines and blocking orders
FIU-IND has published these measures under section 13 of the PMLA against large exchanges that served Indian users without meeting their obligations:
| Provider | Measure by FIU-IND |
|---|---|
| Nine offshore exchanges, including Binance, KuCoin, Kraken, Huobi, Gate.io, Bitstamp, MEXC and Bitfinex | Show-cause notices and request to block their websites (28 December 2023) |
| Peken Global Limited (KuCoin) | Penalty of ₹34,50,000 (22 March 2024) |
| Binance | Penalty of ₹18,82,00,000, about ₹18.82 crore (19 June 2024) |
| Bybit Fintech Limited | Penalty of ₹9,27,00,000, about ₹9.27 crore (31 January 2025) |
| Coinbase India Private Limited | Warning; Coinbase had “ceased its operations in India” at the time (6 March 2025) |
| 25 offshore providers, including BC.game, Paxful, BingX, Poloniex, BitMex and Phemex | Non-compliance notices and takedown notices for apps and websites (1 October 2025) |
| 15 providers, including Weex, Blofin, XT.com, WOO X, Pionex and WhiteBIT | Non-compliance notices and takedown notices (9 September 2026) |
Binance, KuCoin and Bybit are on the March 2026 list of registered providers, after these measures. The GST authorities separately detected evasion of ₹722.43 crore by Nest Services Limited, a Binance group company (see business tax).
If an exchange fails
We found no deposit guarantee or investor compensation scheme for crypto in India, and no rule that requires an exchange to keep customers’ crypto separate from its own. Because crypto is unregulated, FIU-IND warns that “there may be no regulatory recourse for any loss from such transactions”. A failure can mean a long wait and only a partial recovery.
The largest case so far is WazirX. According to its own pages, a cyberattack on one of its multisig wallets on 18 July 2024 caused a loss “exceeding $230 million”. A scheme of arrangement for creditors was sanctioned by the Singapore High Court on 13 October 2025 and took effect on 15 October 2025, and trading resumed in phases from 24 October 2025. WazirX says the first distribution to creditors is completed, but that about 34% of rupee balances from before the hack remain frozen because of law-enforcement investigations, without a timeline. These are WazirX’s own statements, not checked by a regulator.
Coins in your own wallet do not depend on an exchange at all; the rules for that are on regulation. If you move a larger amount of bitcoin into self-custody, this comparison of a single hardware wallet and a multisig setup explains the options.
Where to complain
- The exchange first. Use its support or grievance channel and keep the ticket number.
- No ombudsman. We found no ombudsman or dispute body for crypto exchanges (October 2026). FIU-IND’s mandate is limited to anti-money laundering compliance, and the government stresses that registration does not mean regulatory protection.
- Fraud. If you were defrauded, report it on cybercrime.gov.in (see where to report).
- Court. You can start legal proceedings. Check the exchange’s terms for the court or arbitration they name.
Sources
- Lok Sabha: Unstarred question 5805, Regulation of Virtual Digital Assets in the Country, with Annexure I (54 registered VDA SPs) and Annexure II (takedowns) (30 March 2026) (last checked October 2026)
- Lok Sabha: Unstarred question 966, GST Evasion by Cryptocurrency Exchanges, with Annexure A (47 registered VDA SPs) (2 December 2024) (last checked October 2026)
- Lok Sabha: Unstarred question 15, Action against Illegal Offshore Cryptocurrency Platforms (21 July 2025) (last checked October 2026)
- PIB: FIU IND issues compliance Show Cause Notices to nine offshore VDA SPs (28 December 2023) (last checked October 2026)
- PIB: FIU IND issues notices for non-compliance to 25 offshore VDA SPs (1 October 2025) (last checked October 2026)
- PIB: FIU-IND issues notices for non-compliance to 15 VDA SPs (9 September 2026) (last checked October 2026)
- FIU-IND: Compliance orders (last checked October 2026)
- FIU-IND: Order in original No. 08/DIR/FIU-IND/2024, Peken Global Limited (KuCoin) (last checked October 2026)
- FIU-IND: Order in original No. 10/DIR/FIU-IND/2024, Binance (last checked October 2026)
- FIU-IND: Order in original No. 15/DIR/FIU-IND/2024, Bybit Fintech Limited (last checked October 2026)
- FIU-IND: Order in original No. 16/DIR/FIU-IND/2024, Coinbase India Private Limited (last checked October 2026)
Exchange pages (not official sources)
Fees and features come from each exchange’s own pages, checked in October 2026. They are the exchange’s own statements, not checked by a regulator.
- ZebPay: Pricing (last checked October 2026)
- WazirX: Revised fee structure (December 2025, updated March 2026) (last checked October 2026)
- WazirX: INR withdrawal fees (help center) (last checked October 2026)
- WazirX: Crypto withdrawals after an INR deposit (help center) (last checked October 2026)
- WazirX: Status of INR balances (help center) (last checked October 2026)
- WazirX: Preliminary report on the cyberattack (July 2024) (last checked October 2026)
- WazirX: Singapore court sanctions restructuring scheme (October 2025) (last checked October 2026)
- WazirX: The scheme of arrangement is now effective (October 2025) (last checked October 2026)
- WazirX: Crypto futures launch (May 2026) (last checked October 2026)
- CoinDCX: Home page and support pages (archived copies, 2026) (last checked October 2026)
- CoinSwitch: PRO fees (last checked October 2026)
- CoinSwitch: Terms of use (last checked October 2026)
- Mudrex: Fees (last checked October 2026)
- Giottus: Fees (last checked October 2026)
- Giottus: Fees and charges (help center) (last checked October 2026)
- Bitbns: Fees (archived copy, August 2026) (last checked October 2026)
- Unocoin: Fees (last checked October 2026)
- Binance: Fee schedule (India) (last checked October 2026)
- KuCoin: TDS for Indian users (help center) (last checked October 2026)
- KuCoin: Spot trading fees (help center) (last checked October 2026)
- Bybit: Trading fee structure (last checked October 2026)
- Bybit: FAQ, Goods and Services Tax (GST) in India (last checked October 2026)
This page is general information, not financial advice. Fees and registrations change, so check the government’s list and the exchange’s own fee page before you open an account.