Even as India faces its worst economic crisis in almost three decades, local crypto trading, especially on peer-to-peer exchanges, has peaked.

This is believed to be a direct impact of the Supreme Court lifting RBIs unconstitutional two-year ban on cryptocurrencies in March, only three weeks before the country went into lockdown.

Anticipating a favourable result, not only did new crypto exchanges and bitcoin trading platforms launch in India, but some also relaunched their apps.

Photo: Shutterstock

Further, the crypto boom in the last three months has coincided with one of the biggest depreciations of the Indian rupee the yearly inflation rate is almost 10 percent now leading to an overall peaking interest in alternate forms of wealth, particularly bitcoins.

The founder of a global bitcoin exchange told YourStory recently,

Bitcoin trading volumes in India have surpassed the spike of December 2017, when the digital currency was enjoying an unprecedented bull run globally. Since the lockdown began, BTC volumes have increased 10X, according to Bitcoin.com.

As per the latest exchange rates on Coin Dance, one Bitcoin the most popular cryptocurrency in the world is worth Rs 7.04 lakh.

YourStory lists a few apps that allow users to seamlessly trade in not just Bitcoin, but hundreds of other popular cryptocurrencies across the globe.

Coinbase is among the most well-recognised cryptocurrency exchanges in the world, with over 25 million users in 32 countries. It allows users to securely buy, store, and sell cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and others.

About 98 percent of cryptocurrencies on Coinbase are stored offline, and the app claims to be as secure as a traditional bank. It has over 10 million downloads on Google Play Store, and is rated 3.8 out of 5.

Photo: Shutterstock

Binance is the worlds largest cryptocurrency exchange by trading volume. It blends blockchain tech with finance access, and allows trading in more than 150 cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Link, Tezos, Cardano, and Binance Coin.

The app has a recurring buy option, where users can choose how much and how frequently they want to buy a certain cryptocurrency, and Binance automates the rest of the process. Users can even send and receive crypto from friends or family through their Binance wallets by scanning QR codes.

It counts over a million downloads on Google Play Store, and is rated 4.5 out of 5.

Cryptocurrency exchange WazirX promises lightning fast INR deposits and withdrawals. Its advanced trading interface allows traders to buy and sell cryptocurrencies through a Live Open Order Book system.

The app supports digital assets, including Bitcoin, Bitcoin Cash, Litecoin, Dash, XRP, Ethereum, Zilliqa, and others. Users can deposit or withdraw cryptocurrencies and also cash in or cash out USDT (a cryptocurrency which corresponds to the value of the US dollar) via P2P trading.

The app has over 1,00,000 downloads on Google Play Store, and is rated 4.2 out of 5.

Photo: Unocoin | Medium

Unocoin is among Indias leading crypto asset and blockchain companies, with over a million customers. It is backed by leading VCs like Blume Ventures, Huiyin Blockchain Ventures, Mumbai Angels, and others.

It also allows mobile and DTH recharges with bitcoins, and subscriptions of Bitcoin or Ethereum. The app has more than a million downloads on Google Play Store, and is rated 3.9 out of 5.

Zebpay relaunched its app in India in January 2020, ahead of SC's hearing on RBIs crypto ban. It enables crypto traders to buy and sell across 130 countries, with zero trading fees.

Zebpay also comes with features like real-time and historical crypto market data tracking, 24X7 price alerts for users favourite crypto assets, and instant fund deposits through Zebpays third-party partners.

The app claims to have over three million customers worldwide. It has crossed a million downloads on Google Play Store, and is rated 3.7 out of 5.

Bitbns is a marketplace that allows multi-currency trading, and supports over 70 cryptos, including Bitcoin, Ethereum, Ripple, Litecoin, Binance Coin, Monero, Stellar, and Neo. The platform recently enabled USDT, where cryptocurrencies can be traded against the US dollar.

Bitbns lets users store their funds in a secure, 2FA-enabled cryptocurrency wallet with the option to withdraw, transfer, deposit, or trade instantly. It also allows users to trade at 4X their net worth by borrowing from others.

Bitbns has over 1,00,000 downloads on Google Play Store, and is rated 4.1 out of 5.

BitBuddy, a marketplace dedicated to bitcoin trading, launched in April 2020 to make the most of Indias ongoing crypto boom. It allows users to buy and sell bitcoins with multiple payment modes, including Google Pay and PayPal.

BitBuddy rolled out with a two-month introductory offer of zero trading fees. The app has crossed 1,000 downloads on Google Play Store, and is rated 4.2 out of 5.

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Indias crypto trading boom: 7 apps to buy, sell, store bitcoins and other cryptocurrencies - YourStory