Trading on the platform was halted, and reports suggest that nearly 43% of users may never recover their funds. This has caused widespread concern among investors. Also, from October 2022 to March 2023, WazirX received 431 law enforcement requests related to transactions totaling $390 million.
In July 2024, the Indian crypto community was shaken by a major hack on WazirX, resulting in the loss of approximately $234.9 million. The breach, attributed to North Korea’s Lazarus Group, exploited vulnerabilities in WazirX’s multisignature wallet system, allowing hackers to gain control of both hot and cold wallets.
With trust in WazirX declining, many users are now seeking safer, more transparent, and more compliant alternatives. This article reviews the five best WazirX alternatives that offer better security, lower fees, and stronger regulatory practices.
Whether you are a beginner or an experienced trader, these options can help safeguard your digital assets in an unpredictable market.
| S. No. | Best Blockchain Courses | Website Link |
| 1 | Binance | Click Here |
| 2 | KuCoin | Click Here |
| 3 | CoinDCX | Click Here |
| 4 | ZebPay | Click Here |
| 5 | CoinSwitch | Click Here |
Key Factors to Consider When Choosing a WazirX Alternative
- Regulatory Compliance: Choose exchanges registered with India’s FIU and fully compliant with KYC/AML guidelines.
- Security Measures: Look for platforms with strong security, like 2FA, cold wallet storage, and regular audits.
- Fee Transparency: Consider trading platforms with clear, competitive fee structures and no hidden charges.
- User Interface & Experience: A smooth, intuitive interface improves the trading experience, especially for beginners.
- Crypto Availability: Ensure the exchange supports a wide variety of cryptocurrencies, including popular and emerging tokens.
- Liquidity & Volume: Higher liquidity allows faster trade execution and better price stability during high volatility.
- Customer Support: Opt for exchanges with responsive support teams and helpful resources for issue resolution.
- INR Support & Payment Options: Exchanges should allow INR deposits and withdrawals via UPI, NEFT, or IMPS seamlessly.
- Reputation & Transparency: Research user reviews and the platform’s history to avoid exchanges with past controversies.
- Advanced Features: Features like staking, SIPs, and margin trading can enhance your strategy if you’re an active trader.
Top 5 WazirX Alternatives in India
With WazirX facing regulatory challenges in India, several alternatives have emerged, offering competitive trading options. These platforms not only provide a diverse range of cryptocurrencies but also ensure secure transactions and user-friendly interfaces for Indian traders.
1. Binance: Best for Pro Traders and Advanced Features
Binance is a leading cryptocurrency exchange designed to cater to both beginners and advanced traders. For professionals, it offers an array of sophisticated tools and features to facilitate complex trading strategies and risk management. Below is a detailed overview of what makes Binance the go-to platform for pro traders:
- Advanced Trading Tools: Binance provides features like grid trading, TWAP, and advanced TP/SL orders, allowing for automated strategies and precise risk management. Multi-symbol trading and drag-and-adjust TP/SL levels further enhance trading flexibility.
- Comprehensive Charting & Order Types: Integrated with TradingView, Binance offers advanced charting tools and various order types, including market, limit, stop-limit, OCO, and TWAP, supporting complex trading strategies.
- Robust Security & Risk Management: Binance ensures security with features like the Secure Asset Fund for Users (SAFU), multi-factor authentication, and liquidation protection, minimizing risks during volatile market conditions.
- API & Algorithmic Trading: With robust API integration, Binance allows professional traders to automate strategies through custom bots and seamless algorithmic trading, backed by deep market liquidity.
- Binance VIP Program: High-volume traders benefit from tiered fee discounts, personalized support, and access to exclusive tools and VIP-only events, rewarding consistent trading activity..
- Innovative Features: Binance continuously innovates by launching new features, such as DeFi products, staking, and yield farming, which can be leveraged by advanced traders looking to diversify their portfolios.
Read Also: Top 5 Crypto Portfolio Trackers To Watch (Safe & Secure)
Pros Of Binance
- Comprehensive Ecosystem: Offers staking, savings, and Binance Launchpad for portfolio growth.
- Global Accessibility: Available in over 180 countries, supporting multiple languages and payment methods.
- Educational Resources: Binance Academy provides tutorials and articles for all experience levels.
Cons of Binance
- Regulatory Scrutiny: Facing increasing regulatory challenges that are affecting service in some regions.
- Variable Withdrawal Fees: Fees for withdrawals change based on network conditions, causing unpredictability.
2. KuCoin – Best for Variety and Low Fees
KuCoin stands out as a premier cryptocurrency exchange, especially for Indian traders seeking a diverse range of altcoins and cost-effective trading options. With its extensive selection of over 900 cryptocurrencies and competitive fee structure, KuCoin caters to both novice and seasoned investors.
- Extensive Cryptocurrency Selection: KuCoin offers access to over 900 digital assets, including many emerging and lesser-known tokens, providing traders with ample opportunities to diversify their portfolios.
- Competitive Trading Fees: The platform charges a base spot trading fee of 0.1%, which can be further reduced by 20% when using KuCoin’s native token, KCS, making it one of the most cost-effective exchanges for active traders.
- Advanced Trading Features: KuCoin supports various trading options, including spot, futures, margin trading, and offers built-in trading bots, catering to traders with different strategies and experience levels.
- User-Friendly Interface: The platform provides an intuitive and responsive interface on both desktop and mobile applications, ensuring a seamless trading experience for users.
- Security Measures: KuCoin employs robust security protocols, including multi-factor authentication and cold storage solutions, to safeguard user assets.
- Regulatory Compliance in India: In May 2024, KuCoin registered with India’s Financial Intelligence Unit (FIU) as a Virtual Asset Service Provider (VASP), reinforcing its commitment to regulatory compliance within the Indian market.
Pros of KuCoin
- Early Access to Emerging Tokens
KuCoin is often among the first exchanges to list new and trending cryptocurrencies, providing traders with early investment opportunities in promising projects. - Flexible Account Setup
The platform allows users to start trading with just an email or phone number, without mandatory KYC verification, offering quick access for those prioritizing privacy. - Diverse Passive Income Opportunities
KuCoin offers various avenues for earning passive income, including staking, lending, and savings programs, enabling users to grow their holdings beyond active trading.
Read Also: 6 Top Free Crypto Airdrop Checker Tools To Maximize Your Rewards!
Cons of KuCoin
- Limited Fiat Currency Support
KuCoin does not support direct fiat deposits or withdrawals, requiring users to utilize third-party services or peer-to-peer (P2P) platforms for fiat transactions. - Regulatory Concerns
KuCoin has faced legal challenges, including charges related to anti-money laundering violations in the U.S., raising concerns about its regulatory compliance in certain jurisdictions.
3. CoinDCX – Best for Beginners and Security
CoinDCX has established itself as a premier cryptocurrency exchange in India, particularly favored by beginners for its user-friendly interface and robust security protocols. The platform’s commitment to simplifying crypto trading while ensuring the highest standards of safety makes it an ideal choice for newcomers venturing into the digital asset space.
- Seamless Onboarding: With a streamlined registration process and quick KYC verification, users can start trading with minimal hassle.
- ISO/IEC 27001:2022 Certification: CoinDCX is among the first Virtual Digital Assets (VDA) exchanges in India to achieve the ISO/IEC 27001:2022 certification, demonstrating its commitment to robust information security practices.
- BitGo Insurance: The platform has partnered with BitGo to provide a $100 million insurance policy, safeguarding users’ digital assets against potential breaches.
- Cold Wallet Storage: Approximately 95% of user funds are stored in geographically distributed, multi-signature cold wallets, minimizing exposure to online threats.
- Multi-Factor Authentication (MFA): Users can secure their accounts with MFA, adding an extra layer of protection against unauthorized access.
- Regular Security Audits: CoinDCX conducts frequent stress tests and security audits to identify and mitigate vulnerabilities proactively.
- Address Whitelisting: Users can enable “Trusted Wallet Transactions,” ensuring that withdrawals are only processed to pre-approved addresses.
Pros of CoinDCX
- Competitive Trading Fees: The platform offers low trading fees, with taker fees at 0.04% and maker fees at 0.06%, which are below the industry average, making it cost-effective for frequent traders.
- Robust Security Measures: CoinDCX employs advanced security protocols, including two-factor authentication (2FA), cold wallet storage for the majority of funds, and regular security audits, ensuring a secure trading environment.
- Educational Initiatives: Through CoinDCX Academy, the platform offers educational resources aimed at helping users understand cryptocurrency trading and blockchain technology, catering especially to beginners.
Cons of CoinDCX
- Limited Fiat Currency Support: CoinDCX primarily supports INR for fiat transactions, which may pose challenges for international users seeking to deposit or withdraw in other currencies.
- Higher Withdrawal Fees: While trading fees are competitive, withdrawal fees for certain cryptocurrencies can be higher than the industry average, potentially affecting users who frequently move assets off the platform.
- Restricted Leverage Options: The platform offers limited leverage for margin and futures trading (capped at 6x and 15x, respectively), which might not meet the needs of traders accustomed to higher leverage options.
4. ZebPay – Best for Trusted Indian Exchange
ZebPay is one of India’s oldest and most trusted cryptocurrency exchanges, offering a secure and user-friendly platform for trading digital assets. While it has faced challenges in the past, its commitment to security, regulatory compliance, and user experience makes it a reliable choice for cryptocurrency trading.
Read Also: Top 5 Crypto Trading Tools In 2025 (Latest!)
- Cold Wallet Storage: Approximately 98% of user funds are stored in multi-signature cold wallets, signed using Hardware Security Modules (HSM) on air-gapped machines located in different cities and countries.
- Omnitrixx Security Protocol: ZebPay employs its proprietary Omnitrixx platform, a multi-chain security system that safeguards all transactions between cold and hot storage wallets.
- Two-Factor Authentication (2FA): Mandatory 2FA is required for all transactions and account changes, enhancing account security.
- Regular Security Audits: The platform undergoes continuous evaluation by internal and external security experts to ensure system integrity.
- FIU-India Registration: ZebPay is registered with the Financial Intelligence Unit (FIU) of India and complies with the Prevention of Money Laundering Act (PMLA).
- International Compliance: The exchange is also registered under the Australian Transaction Reports and Analysis Centre (AUSTRAC) and is a member of the Digital Economy Council of Australia (DECA) and the Bharat Web3 Association (BWA) in India.
- Crypto Lending: ZebPay offers up to 8.5% returns for crypto fixed deposits, allowing users to earn passive income on their holdings.
Pros of ZebPay
- Transparent Fee Structure: ZebPay maintains a clear and transparent fee policy, helping users understand the costs associated with trading.
- No Deposit Fees on Cryptocurrencies: Depositing cryptocurrencies into ZebPay accounts does not incur any fees, making it more economical for frequent traders.
- OTC Desk for High-Volume Traders: ZebPay provides an Over-The-Counter (OTC) desk, offering personalized support for users trading large volumes of cryptocurrency assets.
Cons of ZebPay
- Limited Cryptocurrency Variety: While ZebPay supports major cryptocurrencies, its selection is limited compared to larger global exchanges, which might be a concern for users looking to trade less common cryptocurrencies.
- Higher Trading Fees: ZebPay’s trading fees are perceived as higher than some competitors, which might discourage cost-sensitive traders, especially those who trade frequently or in large volumes.
- Limited Advanced Trading Features: The platform lacks advanced trading tools and features such as margin trading and derivatives, which might not satisfy the needs of more experienced traders.
- Regional Restrictions: ZebPay’s services are primarily focused on the Indian market, and its availability in other regions is limited, potentially restricting access for international users.
5. CoinSwitch – Best for Zero Fees on Direct Transactions
CoinSwitch has positioned itself as a user-friendly cryptocurrency exchange, particularly appealing to Indian users due to its straightforward KYC process and support for local payment methods like NEFT, RTGS, and IMPS. While it has offered zero-fee promotions in the past, it’s essential to understand the nuances of its fee structure and consider user experiences to make an informed decision.
Read Also: KuCoin Review 2025: Is It The Right Crypto Exchange For You?
- No Hidden Fees: The platform provides transparent pricing, allowing users to preview the complete breakdown of order values and fees before finalizing transactions.
- Exchange Aggregator Model: By partnering with multiple exchanges, CoinSwitch helps users find the best rates for their trades, potentially reducing costs.
- Custodial Model: In a Web3 wallet with decentralized custody, asset access requires joint consent, similar to a secure vault that only opens when both the user and the platform provide their unique keys.
- Wide Cryptocurrency Support: The platform supports over 300 cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and Cardano, offering a broad range of trading options.
- User-Friendly Interface: Designed to be intuitive, CoinSwitch caters to both beginners and experienced traders, making cryptocurrency trading accessible to a wide audience.
- Multiple Payment Options: Users can deposit funds via bank transfers or transfers from self-custody wallets or exchange wallets, providing flexibility in funding accounts.
Pros of CoinSwitch
- Wide Cryptocurrency Selection: CoinSwitch supports over 300 cryptocurrencies, including major ones like Bitcoin (BTC), Ethereum (ETH), and numerous altcoins, providing a vast array of trading options.
- Security and Compliance: CoinSwitch is registered with the Financial Intelligence Unit of India (FIU-IND) and adheres to KYC, AML, and CFT regulations. It also holds ISO/IEC 27001:2022 certification for data security, ensuring a secure trading environment.
- No Account Required for Basic Trades: CoinDCX allows users to create an account and perform basic trades with limited functionality. Completing Know Your Customer (KYC) verification is necessary for full access.
- INR Support: The platform allows deposits and withdrawals in Indian Rupees (INR) through methods like IMPS, RTGS, and NEFT, facilitating easy fiat transactions for Indian users.
Cons of CoinSwitch
- Margin Trading or Staking: The platform does not offer margin trading or staking services, which are available on other exchanges and can be appealing to users seeking additional ways to earn from their crypto holdings.
- Limited Availability in Some Regions: CoinSwitch is unavailable in certain countries, most notably the United States, which can be restrictive for potential users in those areas.
- No Credit/Debit Card Support: CoinSwitch does not support credit or debit card payments, which can be inconvenient for users looking to buy cryptocurrencies easily.
Top WazirX Alternatives in India – Comparison Table
| Feature / Exchange | Binance | KuCoin | CoinDCX | ZebPay | CoinSwitch |
| Best For | Pro Traders & Advanced Features | Altcoin Variety & Low Fees | Beginners & Security | Long-Term Investors | Simple Investing & Beginners |
| Cryptos Supported | 350+ | 900+ | 200+ | 150+ | ~100+ |
| Base Trading Fee | 0.1% (lower with BNB) | 0.1% (lower with KCS) | 0.04% (taker), 0.06% (maker) | 0.15% | Spread-based (0.5–1.5%) |
| INR Support | P2P only | P2P only | Direct INR deposits/withdrawals | Direct INR support | Direct INR (no order book) |
| Security Features | SAFU Fund, 2FA, cold wallets | 2FA, cold wallets, and insurance coverage | ISO 27001:2022, BitGo insurance, cold wallets | Cold storage, 2FA, ISO certified | Simple KYC, standard app security |
| KYC Requirement | Mandatory | Optional (restrictions apply) | Mandatory | Mandatory | Mandatory |
| Passive Income Options | Staking, Launchpad, DeFi, Earn | Staking, Lending, Savings | Staking, SIPs | Earn feature for BTC only | No staking, but SIPs available |
| Mobile App Quality | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐⭐ |
| Advanced Features | Futures, margin, bots, OCO, grid, TWAP | Futures, trading bots, and advanced orders | SIPs, margin (for select users) | Simple buy/sell, no futures | No order book, fixed rate buying |
| User Experience (UI/UX) | Advanced traders | Intermediate to expert | Beginner to intermediate | Beginner-friendly | Ultra-simplified, clean app |
| Regulatory Compliance (India) | ❌ Not FIU-registered | ✅ FIU Registered | ✅ FIU Registered, ISO Certified | ✅ FIU Registered, ISO Certified | ✅ FIU Registered |
| Customer Support | Email/chat (slow during volume spikes) | Email/help desk | Quick support, chat + tutorials | Email/chat, helpful | Email/help center, decent response |
| Fiat On-Ramp | Indirect (P2P, 3rd party) | Indirect (P2P) | Direct INR via UPI, NEFT | Direct INR via UPI, IMPS | Direct INR – No trading pairs |
| Insurance Coverage | SAFU (Binance Fund) | Partial insurance coverage | BitGo insurance up to $100M | Insurance + ISO-compliant cold storage | Not disclosed |
| Reputation | Global leader, legal risks | Popular globally, the U.S. issues | Top Indian platform | Veteran exchange in India | Most downloaded Indian crypto app |
| Cons | Regulatory scrutiny, complex UI | No fiat gateway, U.S. legal issues | Less global reach | Limited coins, no advanced tools | No trading charts/order book |
Wrap Up On Should You Stay with WazirX or Switch?
The WazirX security breach in July 2024 and its ongoing regulatory troubles have understandably shaken user confidence, prompting a shift toward more secure, transparent, and feature-rich crypto platforms. Whether you’re a beginner or a seasoned trader, exploring alternatives has never been more crucial.
Platforms like Binance and KuCoin offer unmatched features and altcoin variety for experienced users, while CoinDCX, ZebPay, and CoinSwitch stand out for their user-friendliness, regulatory compliance, and INR support, making them particularly appealing to Indian investors.
Read Also: 9 Best Crypto Margin Trading Platform For Maximum Profits
Ultimately, your ideal WazirX alternative will depend on your priorities, be it low fees, top-tier security, easy INR access, or passive income opportunities. In a rapidly evolving crypto landscape, aligning with a reliable, future-ready exchange is key to safeguarding your assets and growing your investments with confidence.
FAQ On The Ultimate List of WazirX Alternatives for Indian Traders
Switching from WazirX to other platforms can raise a lot of questions around security, compliance, and ease of use. This FAQ section answers the most important queries to help Indian traders transition smoothly and confidently.
Q1. What happens to my funds if an exchange gets hacked like WazirX?
Ans: That depends on the exchange’s insurance policies and reserve protocols. Some platforms (like CoinDCX with BitGo insurance or Binance’s SAFU fund) offer partial or full compensation for losses due to hacks.
Q2. How do I check if a crypto exchange is registered with FIU-India?
Ans: You can verify FIU compliance through the official FIU-IND website or by checking the exchange’s compliance details in their Terms & Conditions or footer section.
Q3. What is the difference between P2P INR support and direct INR deposits?
Ans: P2P (peer-to-peer) INR support means you’re buying crypto from other users via escrow services. Direct INR deposits let you fund your account directly via UPI/NEFT/IMPS, often with more ease and speed.
