Bybit vs WazirX India 2026: Which Exchange is Better?
Top crypto exchange offers in India
FIU-IND registered · P2P INR · Affiliate link
Bybit vs WazirX: Side-by-Side Comparison
Key metrics for Indian traders as of June 2026. Verify current fees and availability directly on each exchange before depositing.
| Feature | Bybit | WazirX |
|---|---|---|
| FIU-IND Status | Registered (Aug 2024; penalty ₹9.27 Cr paid) | Registered (India-domiciled from 2023) |
| Operational Status | Fully operational since Sep 2025 | Impaired — post-July 2024 hack; withdrawal status variable |
| Spot Trading Fees | 0.10% maker / 0.10% taker (standard) | Zero fees with ₹99/month subscription; standard rates otherwise |
| INR Deposit Methods | P2P (UPI, IMPS, bank transfer via peer traders) | UPI & bank transfer (direct) — availability disrupted post-hack |
| INR Deposit Fee | Zero P2P platform fee (peer sets rate) | Historically zero; verify current status |
| Coins Available | 300+ spot pairs, 100+ tokens | 200+ tokens (pre-hack listing; verify current) |
| Derivatives / Futures | Yes — perpetual contracts, options, copy trading | No (spot only) |
| Welcome Bonus | Up to ₹30,000 INR equivalent (new users) | None currently advertised |
| KYC Requirements | PAN + Aadhaar / Passport (Bybit global KYC) | PAN + Aadhaar (India-native KYC) |
| Mobile App | Android & iOS; 4.5-star rating; P2P available in-app | Android & iOS; simplified trading interface |
| Exchange Type | Global CEX (Bybit Fintech Ltd.) | India CEX (Zanmai Labs Pvt. Ltd.) |
Pros & Cons
Bybit — Pros
- Fully operational with global liquidity
- 300+ spot pairs and 100+ tokens
- Futures, perpetuals, and copy trading
- Up to ₹30,000 welcome bonus for new users
- P2P INR deposits via UPI/IMPS — zero platform fee
- 4.5-star mobile app with in-app P2P
- FIU-IND registered and fully compliant
Bybit — Cons
- No direct UPI deposit — P2P only for INR
- Complex interface for beginners
- Received FIU-IND penalty before registering
- Offshore entity (Dubai-based)
WazirX — Pros
- India-incorporated, FIU-IND registered from 2023
- Historically: direct UPI deposits (easy INR on-ramp)
- Zero fee subscription model (₹99/month)
- Large user base and India brand recognition
- Simple, beginner-friendly interface
WazirX — Cons
- $235M hack in July 2024 — operational disruption
- INR withdrawal status remains uncertain
- No derivatives / futures trading
- Binance decoupling added uncertainty
- Fund recovery plan ongoing — timeline unclear
Bybit India: What You Need to Know
Bybit is a global cryptocurrency exchange headquartered in Dubai and regulated in multiple jurisdictions. For Indian users, Bybit registered with FIU-IND in August 2024 after paying a ₹9.27 crore penalty for earlier operation without registration. Bybit fully resumed India services in September 2025.
Indian users fund their Bybit accounts via the P2P marketplace, where you buy USDT from a peer seller using UPI, IMPS, or bank transfer. The P2P platform charges zero platform fee, though you pay the peer's spread (typically 0.5–1% above spot). Once funded, you can trade 300+ spot pairs with 0.10% maker/taker fees, or access perpetual contracts and copy trading.
The welcome bonus — up to ₹30,000 INR equivalent in trading rewards — is available for new Indian registrations. Bybit's mobile app (Android and iOS) carries a 4.5-star rating and supports full P2P trading in-app. KYC requires PAN card plus Aadhaar or passport — typically verified within minutes.
Bybit is our top pick for Indian traders in 2026
FIU-IND registered · P2P INR · 300+ pairs · Up to ₹30,000 bonus
WazirX India: Current Status & Risks
WazirX is operated by Zanmai Labs Pvt. Ltd., an India-incorporated entity, and was one of India's largest crypto exchanges before July 2024. WazirX has been FIU-IND registered since the 2023 PMLA registration rollout and complies with AML/KYC requirements.
The July 2024 hack: A sophisticated exploit targeting WazirX's Gnosis Safe multisig wallet drained approximately $235 million (roughly half of WazirX's holdings under management) in July 2024. WazirX suspended INR and crypto withdrawals shortly after and entered a creditor restructuring process. The exchange filed for a moratorium in Singapore's courts to facilitate an orderly recovery plan.
Binance decoupling: WazirX and Binance had a pre-existing relationship that was disputed at the time of the hack. Binance publicly distanced itself from WazirX, stating it had sold its stake back. This means WazirX operates entirely independently — it is an India-registered entity without a major-exchange parent backing its balance sheet.
Our Verdict: Bybit vs WazirX India 2026
Winner: Bybit for most Indian traders
For traders who want a fully operational exchange with global liquidity, futures access, and a welcome bonus, Bybit is the clear choice in 2026. Its FIU-IND registration is in order, the P2P INR deposit route is well-established, and the product range — 300+ spot pairs, perpetuals, copy trading — is broader than anything WazirX offered even before the hack.
WazirX was a strong option historically but is currently in a recovery phase. Until the fund recovery plan is finalised and full withdrawal functionality is restored, WazirX carries meaningful operational risk that most Indian traders should avoid.
If you specifically want a direct UPI deposit (not P2P), consider CoinDCX or CoinSwitch, which are India-incorporated and offer direct UPI deposits with no hack history.
Frequently Asked Questions
Is Bybit better than WazirX in India?
In 2026, yes. Bybit is fully operational, FIU-IND registered, offers more coins (300+ vs 200+), includes futures and copy trading, and provides a ₹30,000 welcome bonus. WazirX is still recovering from the July 2024 $235M hack with uncertain withdrawal timelines.
Is WazirX safe to use in 2026?
WazirX remains FIU-IND registered, so it is a legal platform. However, after the July 2024 security breach that drained ~$235M, operational risk is elevated. Withdrawal functionality has been disrupted during the recovery process. We recommend verifying current withdrawal status directly on wazirx.com before depositing any funds.
Can I deposit INR on Bybit in India?
Yes, via Bybit's P2P marketplace. You buy USDT from a peer seller using UPI, IMPS, or bank transfer. The P2P platform itself charges zero platform fee, though peer sellers set their own exchange rate (typically 0.5–1% above the spot price). There is no direct bank transfer or UPI deposit option on Bybit for Indian users.
What happened to WazirX and Binance?
Binance and WazirX had a commercial relationship and an earlier acquisition agreement that was disputed. At the time of the July 2024 hack, Binance publicly stated it had sold its WazirX stake back to Zanmai Labs and bore no responsibility for the hack. WazirX now operates as a fully independent India-incorporated entity (Zanmai Labs Pvt. Ltd.) with no Binance backing.
Our top pick for Indian traders: Bybit
FIU-IND registered · P2P INR deposits · 300+ pairs · Derivatives · Up to ₹30,000 bonus
Visit Bybit →Affiliate link. See our Affiliate Disclosure.
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Not investment advice. This comparison is for informational purposes only. Always conduct your own research before depositing funds on any exchange.