Crypto Exchanges in India: What's Legal, What's Not, and Where to Trade

When it comes to crypto exchanges in India, platforms where users buy, sell, and trade digital assets like Bitcoin and Ethereum under India’s financial rules. Also known as Indian cryptocurrency trading platforms, they operate in a space shaped more by taxes and bureaucracy than by clear laws. Unlike countries that ban crypto outright, India doesn’t outlaw it—but it makes using it feel like walking through a minefield.

The real story isn’t about bans—it’s about crypto tax India, a 30% flat tax on profits from crypto trades, plus a 1% TDS on every transaction, regardless of gain or loss. This tax structure alone has pushed many users toward peer-to-peer trading or offshore platforms. Meanwhile, non-custodial wallet India, wallets you control without relying on an exchange, like Ledger or MetaMask aren’t banned, but they’re practically sidelined. Banks won’t touch them. Payment processors block them. And the government keeps hinting at future restrictions, even if no law exists yet.

What does this mean for you? If you’re trading on Indian exchanges like WazirX or CoinDCX, you’re paying heavy taxes and dealing with KYC checks that feel like a bank audit. If you’re using a non-custodial wallet to trade on Uniswap or PancakeSwap, you’re technically legal—but you’re also on your own if something goes wrong. There’s no consumer protection. No recourse. And no clear path to withdraw rupees without jumping through hoops.

Some exchanges have left India entirely. Others stay, but only because they’ve built compliance layers that make trading slow and expensive. And while the Supreme Court once ruled against the RBI’s banking ban, the tax system has become the new gatekeeper. The result? Most active traders either use P2P platforms like LocalBitcoins or trade on global exchanges like Binance—despite the legal gray zone.

What you’ll find below isn’t a list of the "best" exchanges. It’s a collection of real, data-backed reviews and breakdowns of what’s actually working in India in 2025. You’ll see why some platforms are dying off, why others are hiding behind vague terms of service, and how people are still making trades despite the rules. Some posts expose scams disguised as exchanges. Others show how people bypass restrictions without breaking the law. And one even digs into the truth behind claims that non-custodial wallets are being banned—turns out, they’re not illegal, just made nearly impossible to use.