Bitcoin Forum

This is the list of the India's Peer to Peer exchange sites. The Founder and CEO of all sites are Indian except LocalBitcoins. Post below if I forget to mention any site Or entered any wrong information.

1. WazirX (https://wazirx.com/): Founded in 2018 by Nischal Shetty (https://twitter.com/NischalShetty). 0.0005 BTC is withdrawal fee (https://wazirx.com/fees), Users can withdraw 0.001 BTC to 3 BTC once. Trade fees are almost the same for all coins. Makers 0.1% and 0.25% for takers. KYC is must to withdraw coin according to their KYC guide page (https://support.wazirx.com/hc/en-us/articles/360000504293-Guide-to-Signing-Up-KYC-Verification). WazirX support is very active on telegram, twitter, ticket.

They have Android and iOS App.

Security: KYC, 2FA and Mobile SMS.

Offer: Earn free 100 WRX Coins on first trade!

2. Koinex (https://koinex.in/): It has a similar function as LocalBitcoins has. Loop rating, users can rate on scale of 1 – 5 rating depends on various factors mentioned here (https://koinex.in/loop/how_user_rating_works). Collateral (https://koinex.in/loop/whyCollateral), buyers or sellers can ask for collateral, 25% of total trade need to be collateral. They have 0.00% of trade fees. Recently they went on Maintenace  (https://twitter.com/koinexindia/status/1126414344416313344)without letting users know, it let loose of funds of traders. They are active on Twitter and support.

They have Android App  (https://play.google.com/store/apps/details?id=in.koinex.android)with 1 lakh download with 3.3 ratings from 3400+ users.

Security: KYC, 2FA and Email confirmation.

3. Localbitcoins (https://localbitcoins.com): This is not India based company. Localbitcoins founded by Nikolaus Kangas in Finland in 2012. This is the one of the best of best Peer 2 Peer Bitcoin exchange. Currently supporting  (https://localbitcoins.com/statistics)248 countries and more than 16,729 cities are supported. Users can use PayTM, Cash, NEFT and bank account.

4. CoinDCX (https://coindcx.com/): Founded by Sumit Gupta (https://www.linkedin.com/in/iamsumit) in 2018. Supports more than 160 cryptocurrencies against BTC. The trade fee is same for both maker and taker is 0.1%. Withdrawal fees are 0.0003 BTC and the minimum withdrawal is 0.001 BTC. Support is active on Telegram and support

5. Bitbns (https://bitbns.com): Started in Dec 2017 by the team of IIT graduates. 0.25% is flat trade fee. Bitcoin withdrawal fees are 0.0005 BTC. KYC required to enable transactions. Users can deposit using NEFT and using Payment Gateway. Support is active on Telegram and support. "Trade superquick on Bitbns from Binance, through a chrome extension (https://chrome.google.com/webstore/detail/bitbns-extension/chohglfmmlfhnkloampcdmnnhnhegbfg)".

APP is available on iOS and Android.

Security: 2FA, Mobile SMS and Email.

6. Giottus (https://www.giottus.com/): Founded by Vikram Subburaj. 0.25% trade fee on buy orders and no fees on sell orders. Deposit charge is 0.2% on INR and withdrawal fee is 0.0004 BTC and 0.2% INR. Support is active on Telegram and support.

7. BuyUcoin: Started in 2016 founded by Shivam Thakral. Maker fee is 0.42% and taker fee is 0.84%. IMPS and UPI deposit is free and payment gateway charge is 2%. Support is active on WhatsApp and support. KYC is required to enable the transaction.


This is going to be published on my website soon with my referral link.  ;)  :D

@ankit11 aka ankit10 i did not have a clue about Wazirx founder and it is publicly available, they have a shitty customer support and with the current situation regarding bitcoin in India, are they registered in India, i really do not think so and i am not sure how they are running their business in India other than the P2P aspect of transaction, either the owner have close ties to the government to run the exchange when all the prominent exchange had to close down and went down the drains because of RBI circular, so which part is true in this aspect.
I contacted Wazirx in telegram sometime back and they never responded but i got a bunch of strangers messaging me about solving the issuee and someone contacted me telling me they are Wazirx support team and asked me to send 1 ETH in an account to verify that i am having issues since i did have an issue with the ETH i deposited, since i am not a fool, i knew what those fuckers are trying to do and hence i played well with those strangers and when they understood that i understood their shit, they just left the scene. The situation was resolved after that, but that does not mean that they have a good support team.

I am still not sure about the use of WRX coins, i got over 2000 WRX coins in my account  :D.

Are Koinex founders anonymous?

They dont directly deal with the banks. They are just acting as escrow providers among the traders.  They are not doing anything illegal or against RBI policies. So they can run their business without any problems.

Following two are to be added IMHO. None of these require KYC...

For ETH: https://localethereum.com

For BCH: https://local.bitcoin.com

WazirX is going great and having better customer care service if dispute in P2P

Yes, WazirX is the best and ran by experienced folks.

- Nischal Shetty (https://twitter.com/NischalShetty)
- Sameer Mhatre
- Siddharth Menon (https://twitter.com/Buddhasource)

Thanks for this list. Was really looking for this one. I have been personally using WazirX for sometime and never faced any sort of an issue. Though the liquidity and Market Making can be more proactive on WazirX but everything works smoothly.

I wanted a review of CoinDCX. How is the overall network. Any sort of issues that anyone has faced till date? Also, the founders (Sumit Gupta) linkedin seems to be inactive.

I only used localbitcoin for buying bitcoin until now even if I am here for years now because where the prices are good and no need to pay any extra fee,once you got bitcoin from there then we can use it for buying altcoins by moving them into any exchanges like biance.

Would like to add instashift (https://instashift.io), it has been running since rbi ban came into effect, they act as escrow between buyer and sellers. 1% fees.

Shapeshift needs KYC and for some reasons they are not allowing to trade me even after completing KYC,maybe they are not going to be useful if government of India ban it.

Of the list given by the OP,

Koinex has Shutdown

Source: https://medium.com/koinex-crunch/koinex-shutdown-announcement-termination-of-exchange-services-bea4a472ea79 (https://medium.com/koinex-crunch/koinex-shutdown-announcement-termination-of-exchange-services-bea4a472ea79)

Be little mindful when reading. I said instashift not shapeshift.

Lot of look a like names though,I only know shapeshit never heard of instashift. ::)

Yes you are right. WazirX is not registered in India but it is registered outside of India which means it is an International exchange providing a major support to India.
I have been using WazirX since a long time without any hassles. After Zebpay was liquidated, WazirX became the most widely used crypto exchange in India.