How to buy Bitcoin in India
Cryptocurrency attracted the attention of world in past few months when leading cryptocurrency Bitcoin touches its lifetime high value of 19K+ USD. Giving that much of unpredictable return Bitcoin become the sensation of the year in financial market. Everyone who heard this looking the ways to invest in Bitcoin or in Cyrptocurrency. Doing this thing in India is not an easy task right now because of many issues. But good news is that we can still buy/sell Bitcoin in. In this article we will explain What is bitcoin, Bitcoin pro and cons and you will come to know the process about How to buy Bitcoin in India.
What is Bitcoin?
Bitcoin is a digital currency which usage cryptography to regulate its transactions. Unlike the paper currency Bitcoin doesn’t have any physical existence, it only exists on computers/servers in virtual world. There are only 21 million Bitcoins created which are discovered though Bitcoin mining. At present 80% Bitcoin has been mined. Bitcoin uses decentralized system means coin once mined its value will only be decided based on supply and demand. There is no central authority deciding its value. Bitcoin usage latest Blockchain technology to process transactions. This technology also attracting many of indian banks attention for processing transactions.
If you have Bitcoin you can transfer your Bitcoin to receiver only using his receiving address there is no bank or any financial institution involved in that.
How to buy Bitcoin in India
At present Bitcoin transaction are not in mainstream in India but still there are few crptocurrency exchanges working in India which allows you to buy Bitcoin.
Zebpay is one of the most leading exchange in india to buy Bitbcoin. It offers all Buy/sell options using android and iphone app with extremely easy user interface. First of all you have to verify your Email, Bank Details, PAN card details and AADHAR card details before making any transaction. But don’t worry they offer too easy interface + they are fast in processing.
After approval you can Deposit choosen amount to your Zebpay wallet either by Netbanking or by NEFT/RTGS/IMPS. After deposit you will see that amount in your Zebpay wallet and you can instantly buy the Bitcoin at current rate.
click here to Download Zebpay App on your phone.
Coinmama also a leading exchange which provide facility to buy Bitcoin in India. It provide a simple web interface to buy Bitcoin. Before making any deposit to your Coinmama account you first have to verify your government IDs and photo verification. Then you can buy Bitcoin on Coinmama.
Click here to go to Coinmama
How to buy Other Cryptocurrencies like Ripple or Tron
If you think Bitcoin is only cyrptocurrency which is making boom then you are absolutely wrong. There are many other currencies as well which are doing very good and has great future. Ripple and Tron are among them. But as these are at initial so there are very limited options to buy them and you have to use Bitcoin and base currency to buy them. You can use some trading plateforms to buy these currencies.
Binance is one of the leading plateform for cyrptocurrency trading. You can create your account Binance then you can transfer your Bitcoin from your Zebpay wallet to Binance. Then you can buy any other cryptocurrency listed on Binance. When you make a Buy on Binance of for ex. ripple then you will get equivalent amount of Ripple to Bitcoin value at that moment. You can also sell them at anytime to take out your profit.
Click here to go to Binance
Caution with Bitcoin
While Bitcoin is giving too much of return there are also few caution to take care of. Bitcoin and other cryptocurrencies are extremely volatile and unpredictable as well. So never put all your hard earned money to Bitcoin just in order to get return. Always invest only that amount that you can happily afford to loose.
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