Home » Best Crypto Exchange in India in October 2022 – Forbes Advisor INDIA

Best Crypto Exchange in India in October 2022 – Forbes Advisor INDIA

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In India, different cryptocurrency exchanges impose different fees and commissions. Let’s take a closer look at what these charges are.

Admission fee

The majority of Indian cryptocurrency exchanges, such as WazirX, Zebpay, Bitbns and Unocoin, have completely waived joining fees. However, inactive accounts may incur a nominal membership fee.

deposit fee

This fee is charged when a user deposits money or coins to a cryptocurrency exchange and starts buying or selling. The amount of the deposit fee depends entirely on how the user made the transfer: payment service provider, Mobikwik, crypto wallet, UPI, net banking, bank transfer.

transaction fee

Transaction fees are the most important part of the cryptocurrency exchange fee mechanism. Transaction fees may be charged as a percentage of the amount of cryptocurrency a trader buys and sells, or they may be charged by the exchange depending on the order placed, such as makers and takers, and the amount charged varies. increase. Therefore, it is important to understand Maker and Taker fees before proceeding further.

Manufacturer A party that creates liquidity on an exchange by selling cryptocurrencies

A taker is a party that buys cryptocurrencies to remove liquidity.

Both makers and takers pay a fixed fee for their transactions. However, manufacturers generally pay less.

Transaction fees vary by exchange and range from almost 0% to 0.25% on most exchanges. However, it should be noted that certain exchanges claim to charge no fees to their users. If you are billing in the form of spreads, you should consider carefully. And, in general, this rate is high compared to transaction fees.

withdrawal fee

Some exchanges charge users for withdrawals to fiat currency. Money is withdrawn when a user places a sell order on the exchange and the funds are reflected in the user’s wallet. Users here can withdraw all or part to their registered bank account. Users can also make withdrawals in coins, but this comes at a cost.

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