India’s cryptocurrency market has continued to expand after the country’s Supreme Court lifted the banking restriction previously imposed by the Reserve Bank of India. As interest in bitcoin and other digital assets rises, local exchanges are reporting stronger signups and trading activity, even during the nationwide lockdown period described in the report.
Fees become a key battleground
Trading and withdrawal costs remain one of the biggest factors when users choose between platforms, and several Indian exchanges have responded by cutting fees. Wazirx said its trading fee can be as low as 0.1% when paid with WRX. The exchange also reduced USDT costs, making transfers from Wazirx to Binance effectively zero-fee, while other USDT withdrawals were lowered to 1.5 USDT. The company added that it plans to reduce withdrawal fees for more tokens over time.
Zebpay, which recently relaunched in India, also introduced promotional pricing. The platform said it would waive its usual 1.5% netbanking fee through a specified period and offer zero trading fees for selected pairs including BTC-USDT, ETH-USDT, XRP-USDT, ETH-BTC, and TUSD-USDT during the month. Its bitcoin withdrawal fee currently stands at 0.00049 BTC.
Low-cost models already in place
Some platforms were already competing on fees before the latest wave of cuts. Coindcx charges 0.0005 BTC for bitcoin withdrawals, and its leadership said the company has maintained competitive pricing from the start as part of a broader crypto adoption strategy. Unocoin, one of India’s oldest exchanges, charges 0.7% to buy or sell bitcoin, with the rate dropping to 0.5% for users who upgrade to a Gold membership.
Other notable exchanges mentioned in the report include Cashaa, Pocketbits, Giottus, and Bitbns. Pocketbits advertises 0% trading fees and a bitcoin withdrawal fee of 0.0003 BTC. Giottus lists a bitcoin withdrawal fee of 0.0001 BTC, while Bitbns charges 0.0005 BTC.
P2P options and regulation remain part of the picture
Beyond centralized exchanges, Indian users can also buy and sell bitcoin in INR through peer-to-peer marketplaces such as Localbitcoins and Paxful, while BCH trading is available through local.Bitcoin.com. The report notes that India still does not have direct cryptocurrency regulation, although the government is reportedly discussing a regulatory framework with the central bank. With user demand rising and fee competition intensifying, India’s crypto trading market appears to be entering a more aggressive growth phase.