As cryptos evolve all over the world and in India, there is a need for buying and selling of cryptos. In order to achieve this, we require crypto exchanges. This allow us to swap cryptos, say we can swap Bitcoins with Litecoins. We can make purchases of cryptos using fiat currency. Exchanges indicate the ruling market prices of cryptos. These exchanges also convert cryptos into regular fiat currency, which is credited in the account at the exchange or transferred to a normal bank account.

Indians have shown great interest in crypto investments. CoinSwitch Kuber is one crypto exchange to leverage this digital revolution. It is an institution that brings opportunities to the doors of not only the high-net-worth individuals but also to the common people.

Cryptos have a bull run after the SC lifted a blanket ban on them in 2020. And cryptos have been validated by global giants who made investments in them. Crypto transactions are made by these exchanges as simple as buying anything on e-commerce site. Most of crypto investors in India come from smaller towns and cities. They are young people below 28. They are not averse to taking risk.

Crypto exchanges interact with the government through channels like IAMAI and IndiaTech. They have data set to show to the authorities. They self-regulate themselves. They follow the guidelines by SEBI, PMLA and RBI. They follow KYC norms. They accept money from a white-listed bank account. They operate within blockchain model and fintech model. They monitor the transactions for fraud.

There are four big crypto exchanges in India. CoinDCX has become India’s first crypto unicorn. It has raised $90 million recently. It will double its manpower. CoinDCX was registered in Singapore in 2018. It has 3.5 million users. It wants to expand its user base to 50 million over the next few years. There could be many more crypto unicorns in India in the next few years.

WazirX, a cryptocurrency exchange, in India has shown massive growth. It has participation from smaller cities, especially, of women. It has 7.3 million users.