In India the future if cryprocurrency is uncertain . But still trading cryptocurrency is not illegal hence the trading volumn is increasing rapidly amids this Covid 19 pandemic crisis. With the announcement of lifting ban of using cryptocurrency in india the trading volumn has reach its peak level. Before the ban has been lifted the most common method of buying bitcoin is through peer 2 peer method. And it is also one of the most easy, faster way of buying bitcoin.
Theoriticaly most of the people in india knows what is cryptocurrency but practically they lack experince on it. The most common means of holding cryptocurrency is by buying, selling,mining and staking. But the most common question asked buy those who are new in cryptocurrency is how to buy/sell cryptocurrency. There are many ways to buy cryptocurrency in india through different exchange platform which is through worldwide platform and indian exchange platform.
Most popular worldwide bitcoin exchange paltform include
Popular local bitcoin exchange platform includes.
Here i am talking about a local exchange platform called wazirex.
Wazirex was launced on 8 march 2008. Later in november 21, 20019 it was acquired by Binance one of the most popular and largest international cryptocurrency exchange platform. This make wazirex first indian exchange platform to be acquired by an international trading platfrom. A new p2p method was added in order to allow deposit ans withdrawal from INR to any currency.
Its user friendly
Easy to use for beginners
Available for android device
Allows wire transfer
Backed by binance
Need more trading volumn
Centralised crypto exchange platform
Deposit via credit card and debit cars not possible
Steps to buy bitcoin from wazirex exchange
Go the web site https://wazirx.com/exchange/BTC-USDT
Verify your email, phone number by Creating an account
Upload KYC document(adhar card,pan card)
First you have to convert INR to USD in order to but bitcoin
For this go to P2P
Press on convert INR TO USD
Click buy boton and enter your amount in USD you want to buy
Click on place buy order
Then click place order( wazirex will automaticaly match your order from seller.)
Once confirm a message/call will arrive on your mobile
Click your choice of payment(PAYTM/IMPS)
Transfer the amount by entering the exact payment amount (do not round up)
Click yes paid button( your payment will be aporoved)
Now after converting to USD click on exchange button
Select Bitcoin from the available crypto list
Click buy botton
Select the best deal and enter the amount in usd you want to buy.
Click place order
Hope this method helps those who are new and don't have much experince about buying bitcoin. Will explain more about different exchange platform next time.
Hi @abothe do you know an exchange where I can buy BCH via PayPal and is available worldwide. Thanks