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What are the top P2P bitcoin exchanges in India?

According to UsefulTulips, weekly trades across two of the top P2P Bitcoin exchanges, LocalBitcoins and Paxful, amounted to a record high of $4.4 million in the week ending Aug 4. Before we look at some of the top P2P BTC exchanges in India let’s step back and focus on how P2P exchanges work and why they are important.

Is LocalBitcoins a P2P exchange in India?

LocalBitcoins boasts as the first P2P Bitcoin exchange to gain mainstream adoption in India. Since the start of August, the P2P exchange registered $3.7 million in India – only bettered by Paxful – its highest two-week trading volume in 2020 yet. LocalBitcoins allows users to exchange local currency i.e. Indian Rupees into BTC only.

What is the cheapest P2P exchange in India?

The exchange has zero deposit and transaction fees, making it the cheapest of P2P exchanges across India. The P2P exchange allows a minimum buy of 5 USDt (~77 INR) and a maximum withdrawal limit of 10,000 USDt. WazirX employs unique minimum withdrawal requirements for each cryptocurrency as seen here.

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