How to Buy Bitcoin in India?

If you are new to Bitcoin or you have heard it for the first time in your life, then you must be wondering what is Bitcoin? How to get Bitcoin? or Where and How to buy bitcoin in India? and many more other questions must be trembling your mind. So, let me tell you each and everything step by step.

What is Bitcoin?

Bitcoin is a decentralized internet digital cryptocurrency and a payment system. Here decentralized means this coin is not under the control of any authority or organization, as the system work without a single bank or administrator.

Bitcoin is a network for peer to peer transaction. It means we can transfer bitcoin from one user to another directly without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a Blockchain (Blockchain is a different huge topic we will talk about it in another post).

Bitcoin was invented by an unknown person or a group of people under the name of Satoshi Nakamoto.

How to get Bitcoins? | How to buy bitcoin in India?

Now the question arises from where we can get bitcoin, especially in India. Well, there are 3 places on the internet where you can buy bitcoins and they are Zebpay, Unocoin, and Koinex. There are also other several places from where you can get bitcoins and other cryptocurrencies like Ethereum, Ripple, Dash, Bitcoin Cash etc, But for me, these 3 are the best which I have mentioned. Let’s talk about all 3 one by one.

Zebpay

zebpay review

Zebpay is India’s first bitcoin exchange wallet, founded by Mahin Gupta in late 2012, with its headquarter in Singapore and its office in Ahmedabad, Gujarat, India. Zebpay is only available to mobile platforms, it doesn’t provide web services. So to if you want to trade in Bitcoin with zebpay then you should have either Android or an iOs mobile phone.

Zebpay Registration Process

Zebpay registration process

  • Download zebpay app from Google Play or App Store.
  • Register or Sign up for a new account.
  • Verify your email and upload Pan card, bank account, and Aadhar card details.
  • Wait for the verification to complete, it usually takes 48 hrs.
  • KYC Done. Add money to your connected bank account through NEFT, IMPS or Internet banking.
  • Start buying bitcoin.

Note: Only Deposit and Withdraw money from the bank account which you have linked to your zebpay account.

Unocoin

Unocoin is another one of the largest Bitcoin wallets in India founded in the year 2013 and has its office currently in Bangalore.I personally use this wallet because it is accessible both in web and mo bile platforms. It has the second largest user base of bitcoin traders in India. This Bitcoin exchange is legal in India because it pays tax to the Indian government.

buy bitcoin in Unocoin

Unocoin registration process

The registration process in unocoin is almost same as Zebpay all you need to do:

  • Download Unocoin app from Google Play or App Store or Use its website
  • Register or Signup for a new account.
  • Verify your email and upload Pan card, bank account, and Aadhar card details.
  • Wait for the verification to complete, it usually takes a maximum of 3 days.
  • KYC Done. Add money to your connected bank account through NEFT, IMPS or Internet banking.
  • Start buying bitcoin.

Note: Only Deposit and Withdraw money from the bank account which you have linked to your unocoin account and provide the reference number of your payment.

Koinex

Koinex is new as compared to unocoin and zebpay. It doesn’t provide any service to mobile platform as an app, you can access koinex only through its website. Its trading technique is far better than unocoin and zebpay and also apart from Bitcoin you can also buy and trade in some other cryptocurrencies like Ethereum, Ripple, Bitcoin Cash and LiteCoin. That’s why it got the huge attention of peoples in a short period of time. Taking about its registration, it is the same as that of unocoin and zebpay(nothing different).

Conclusion:

All the 3 Indian exchange sites which I have mentioned are trustful for buying bitcoins in India. Unocoin and zebpay are old and Koinex is new but more advanced than the other two.

Koinex gives you the feature to buy and sell at the same price at the same moment. But in unocoin and zebpay, the buying price and selling price of bitcoin are huge therefore, you can only make the profit on long-term investment. You can buy multiple coins in koinex which is not the same in case of unocoin and zebpay, they only deal in Bitcoin.

Though Bitcoin has been a good investment for the last couple of years volatile of its price is very high. So invest that much only which you can afford to lose.

Thanks for reading.

 

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