Cryptocurrencies in India: How to Buy and Sell Bitcoin in India
Investment opportunities in digital cryptocurrencies have been constantly rising over the past few years. Bitcoin was recently in the news because of the ransomware WannaCry. The Wanna Cry cyber attacks were one of the biggest attacks of this sort, affecting computers in countries around the world; and the hackers demanded payment in Bitcoin because Bitcoin transactions are practically untraceable. If you still haven’t heard of ‘Bitcoin’, you must REALLY change your news and information sources. Cryptocurrencies in India: How to Buy and Sell Bitcoin in India.
With a 300 percent increase in its value in just one year, Bitcoins could well be the kind of investment you may be looking for.
How to buy Bitcoins?
You can look for various digital currency exchanges to buy bitcoin. You can purchase Bitcoins with a credit card. Coinbase.com and Coindesk.com are the most popular exchanges. They also offer tutorials on digital currencies.
In India, you can purchase Bitcoin from Zebpay & Unocoin. Zebpay has Android and iPhone app which lets you link your bank account for quick transfers.
Here, we look at the major exchange platforms in India that one can effectively use for bitcoin and other cryptocurrency investments.
Zebpay is an Ahmedabad-based bitcoin exchange which was founded in 2012. It was the first in India to introduce a user-friendly digital wallet for enabling bitcoin transactions using a 4-digit PIN. Zebpay has Android and iPhone apps and lets you link your bank account for fast transfers.
You can buy Bitcoins by making a payment to Zebpay’s bank account. You can also withdraw the money to your bank account, and track data on Bitcoin valuation in the country. There is a KYC requirement and you need to verify your ID by simply clicking a photo of your PAN card.
India’s second most popular bitcoin exchange platform and wallet after Zebpay, was launched in Bangalore in the year 2013. Unocoin is a member of NASSCOM and has over 1,50,000 customers. Unocoin lets you trade Bitcoins. They can help you buy, sell, store, use and accept bitcoin.
In addition, Unocoin enables users to convert their blockchain assets such as Ethereum, Monero, Zcash and Dash, directly into bitcoin and then if required, into INR. Unocoin bills a transaction fee of 1 percent for each bitcoin transaction.
Coinsecure was founded in 2014 and has its head office in New Delhi and a research division in Bangalore. It offers a bitcoin trading platform and wallet, along with other blockchain-based services. Coinsecure is also a regulated coin exchange out of India, which again includes KYC. This means that for people who want private transactions, Coinsecure isn’t the best option, but otherwise, it is a pretty good option that is easy to use with low fees.
BuyUcoin has one of the simplest payment wallets which can be used to trade, store, use and accepts digital currencies. BuyUcoin deals in a total of 30 cryptocurrencies and altcoins, including currency tokens like Bitcoin, Ethereum, Litecoin, AntShare, Bitcoin Cash and more with Indian rupees. BuyUcoin has a unique 0 percent trading fee model and does not charge any fee on the transitions.
In order to purchase Bitcoin, you must first get a purchase ID. This requires your name, email ID, phone number, and your PAN card number and a photo of your PAN card. You also need to upload a photo of another ID – either your driving license or Aadhaar card.
BuyUCoin on the Web
Bitxoxo charges no fees for any of its services and has a 0 percent fee model. Bitxoxo is open 24X7 and allows payments and withdrawals through IMPS, ensuring instant payments to customers’ accounts, irrespective of banking hours. Bitxoxo recently crossed more than 100,000 users and runs out of Warangal, Telangana.
Bitxoxo on the Web