How to buy or sell bitcoin in india

3 20
Avatar for Abothe
Written by
4 years ago

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

  • localbitcoins

  • Local.bitcoin

  • Binance

  • Coinmama

  • Bybit

  • Cex.io

  • Paxful

Popular local bitcoin exchange platform includes.

  • Wazirex

  • Unocoin

  • Zebpay

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.

Pros

  • Its user friendly 

  • Easy to use for beginners

  • Available for android device

  • Allows wire transfer

  • Backed by binance

  • Low fee

  • Highly trusted

Cons

  • 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.

Happy buying!!

1
$ 0.00
Avatar for Abothe
Written by
4 years ago

Comments

Hi @abothe do you know an exchange where I can buy BCH via PayPal and is available worldwide. Thanks

$ 0.00
4 years ago

Yes you can try local.bitcoin.com it only mean for bitcoin and bch . You can buy ir sell usning paypal and many other option outthere

$ 0.00
4 years ago

In the first place, I recognized the sixth sense of the Indian government for lifting ban on cryptocurrency trading. This is a good sense of leadership. With this development, more and more international and local exchangers of crypto will spring up within shortest time.

$ 0.00
4 years ago