Best Crypto Exchanges in India (FIU-Registered) — 2026
What is FIU-IND registration and why does it matter?
Since March 2023, the Government of India requires all Virtual Digital Asset Service Providers (VDASPs) — including crypto exchanges — that serve Indian users to register with the Financial Intelligence Unit India (FIU-IND) under the Prevention of Money Laundering Act (PMLA). Registration obligates exchanges to conduct KYC on users, report suspicious transactions, and maintain transaction records for law enforcement.
An exchange that is not FIU-registered and continues serving Indian users is operating outside the law. Deposits to such platforms carry heightened risk: there is no regulatory recourse if something goes wrong. Always verify an exchange’s registration status on fiuindia.gov.in before depositing funds.
What about Bybit and Binance? Both exchanges received FIU-IND penalties in early 2024 for operating without registration. Both subsequently registered with FIU-IND and resumed compliant India operations — Binance in August 2024, Bybit by mid-2024. Their registrations are reflected in the table below. This history does not mean current services are unsafe, but it is context every Indian user should know.
Top 7 Crypto Exchanges for India — Ranked & Compared
All exchanges in this table are registered with FIU-IND as of the review date. Fee data is sourced from each exchange’s official fee schedule; where a live page was inaccessible, the source is noted. Verify fees directly before trading.
| # | Exchange | FIU-IND Status | Spot Fees | INR Deposit | KYC | Coins (approx.) | India Note |
|---|---|---|---|---|---|---|---|
|
1
|
Bybit Global CEX — Bybit Fintech Ltd. |
Registered
Registered after Jan 2024 penalty (₹9.27 Cr). Re-registered mid-2024.
|
0.10% maker & taker (standard) Source: CoinMarketCap / Bybit fee schedule |
P2P (INR via UPI); no direct UPI bank transfer | PAN + Aadhaar / passport | 300+ spot pairs, 100+ tokens |
Spot + Derivatives
Best global liquidity for Indian traders. Futures & copy trading available. INR on-ramp via P2P. Read full Bybit India review → |
|
2
|
CoinDCX India CEX — Primestack Pte. Ltd. |
Registered
India-domiciled; registered with FIU-IND from 2023 rollout.
|
~0.20% taker / 0.10% maker Source: CoinDCX fee page (verify at coindcx.com/trade/fees) |
UPI & bank transfer (IMPS/NEFT) | PAN + Aadhaar / live selfie | 400+ tokens (largest India listing) |
Spot + Futures
Largest crypto selection on any India-registered exchange. INR deposits via UPI are seamless. Good for intermediate traders. |
|
3
|
CoinSwitch India CEX — CoinSwitch Kuber (Bitcipher Labs) |
Registered
India-domiciled; registered with FIU-IND from 2023 rollout.
|
~0.25% flat (simple mode); CoinSwitch Pro has lower maker/taker rates Source: CoinSwitch official fee disclosures (verify at coinswitch.co) |
UPI & bank transfer | PAN + Aadhaar | 100+ tokens |
Spot only
Extremely beginner-friendly app. No derivatives. Best choice for first-time crypto buyers in India who want UPI simplicity. |
|
4
|
Mudrex India platform — Mudrex Inc. |
Registered
India-domiciled; registered with FIU-IND from 2023 rollout.
|
Zero platform fee (earns via spread); basket/coin set investing model Source: Mudrex fee disclosures (verify at mudrex.com) |
UPI & bank transfer | PAN + Aadhaar | 300+ tokens via coin sets |
Spot + Coin Sets
Unique “coin set” model lets you invest in themed baskets (e.g., DeFi index). No derivatives. Best for passive/thematic investors. |
|
5
|
WazirX India CEX — Zanmai Labs Pvt. Ltd. |
Registered
India-domiciled; registered with FIU-IND from 2023 rollout.
|
Zero trading fees with ₹99/month subscription; standard rates for non-subscribers Source: CoinMarketCap / WazirX fee schedule |
UPI & bank transfer (status subject to change post-hack recovery) | PAN + Aadhaar | 200+ tokens |
Caution: Post-hack
Important: WazirX suffered a major security breach in July 2024 (~$235M lost). INR withdrawals were suspended during restructuring. Verify current withdrawal status and any fund recovery plan directly on wazirx.com before depositing. FIU registration is unaffected, but operational risk is elevated.
|
|
6
|
Unocoin India CEX — Unocoin Technologies Pvt. Ltd. |
Registered
India’s oldest Bitcoin exchange; registered with FIU-IND from 2023 rollout.
|
~0.50% flat per trade Source: Unocoin fee page (verify at unocoin.com) |
UPI & bank transfer | PAN + Aadhaar | ~100 tokens (BTC-focused) |
Spot only
India’s longest-running exchange (est. 2013). Conservative coin selection; higher fees than peers. Best for Bitcoin-only buyers who value longevity. |
|
7
|
Binance Global CEX — BAM Trading Services / Binance Holdings Ltd. |
Registered
Penalised ~$2.25M by FIU-IND (Jun 2024); re-registered August 2024. Futures unavailable for India.
|
0.10% maker & taker (standard); BNB discount available Source: CoinMarketCap / Binance fee schedule |
P2P (INR via UPI); no direct bank transfer | PAN + India ID | 500+ tokens; 1,500+ pairs globally |
Spot only for India
Deepest global liquidity and largest coin selection. Futures and derivatives remain unavailable for Indian users post-2024 compliance changes. INR on-ramp via P2P only. |
Exchange Notes — What Indian Traders Should Know
Bybit: FIU-registered after Jan 2024 penalty — now compliant
Bybit received a ₹9.27 crore (approx. $1.1M) penalty from FIU-IND in January 2024 for operating as a VDASP without registration. Bybit subsequently registered with FIU-IND and re-entered the Indian market on a compliant basis. The site’s own affiliate relationship with Bybit is disclosed on our Affiliate Disclosure page. For a full review of Bybit’s India product — P2P INR deposits, KYC flow, copy trading, and welcome bonus — see the Bybit India Review.
Binance: Returned to India after $2.25M FIU-IND penalty
Binance — the world’s largest exchange by volume — was penalised approximately $2.25 million (roughly ₹18.8 crore) by FIU-IND in June 2024 for PMLA violations and operating without registration. Binance paid the penalty and registered with FIU-IND in August 2024. However, as part of its compliance posture for India, Binance restricted futures and derivatives trading for Indian-resident users. Spot trading with P2P INR on-ramp is available. Given the restricted product set and offshore nature, Indian users who want derivatives should look at Bybit or CoinDCX.
WazirX: FIU-registered but operationally impaired after July 2024 hack
WazirX held one of India’s largest user bases until July 2024, when a sophisticated exploit drained approximately $235 million from its multisig wallet. The exchange suspended INR and crypto withdrawals while it worked with creditors and regulators on a restructuring plan. FIU-IND registration is unaffected by the hack — WazirX remains a registered VDASP. However, the operational situation remained fluid as of our review date. Do not deposit funds on WazirX without checking the current withdrawal status on wazirx.com first.
CoinDCX, CoinSwitch, Mudrex, Unocoin: India-domiciled, registered from day one
These four exchanges are India-incorporated entities that registered with FIU-IND when the PMLA VDASP registration framework launched in March 2023. They have not faced FIU-IND penalties. All four accept direct UPI and bank transfer deposits, which is the easiest INR on-ramp for Indian users. Derivatives availability differs: CoinDCX offers futures; CoinSwitch, Mudrex, and Unocoin are spot-only.
Frequently Asked Questions
Is crypto exchange legal in India?
Yes. Buying, selling, and holding cryptocurrency is legal in India. Since March 2023, all exchanges serving Indian users must be registered with the Financial Intelligence Unit India (FIU-IND) under the Prevention of Money Laundering Act (PMLA). The Reserve Bank of India (RBI) has issued advisories urging caution around crypto, but there is no law prohibiting individuals from owning or trading crypto assets. The government has imposed a 30% flat tax on crypto gains and a 1% TDS on qualifying transactions — obligations that come with legally recognised status, not a ban.
Which crypto exchange is best for beginners in India?
For first-time buyers, CoinSwitch and Mudrex are the most beginner-friendly options: both have simple UPI deposit flows, no confusing order types, and clean apps. CoinDCX is the natural next step if you want access to more coins and eventually try futures. Bybit is the best choice if you want the most features (300+ spot pairs, copy trading, P2P INR) and are willing to use P2P for INR deposits rather than direct UPI.
Do I need to pay tax on crypto in India?
Yes. Under the Finance Act 2022, all cryptocurrency gains in India are taxed at a flat 30% rate (plus surcharge and cess), regardless of your income slab or how long you held the asset. A 1% TDS is deducted on crypto transactions exceeding ₹10,000 per financial year (₹50,000 for specified persons). Losses from one crypto asset cannot be set off against gains from another, and crypto losses cannot be carried forward under the current rules. This is general information — consult a Chartered Accountant for advice specific to your situation. We are not a tax adviser.
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Not investment advice. Rankings and commentary are for educational and informational purposes only. Crypto assets are volatile; past performance does not predict future returns. Always conduct your own research before depositing funds.