Bitcoin 2017:How to Buy and Sell Bitcoin in India

Bitcoin 2017:How to Buy and Sell Bitcoin in India
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Key  Takeaway – how to buy and sell Bitcoin in India

  • Buying Bitcoin can be simple to do online
  • It’s also feasible to buy Bitcoin using cash
  • After you get your Bitcoin, it’s best to store them offline

Bitcoin may be the currency of alternative in the digital underground, but there are plenty of lawful reasons to considering Bitcoin as well. It’s a good investment for one, as the value of Bitcoin has gone up significantly over the years. Bitcoins are also used for online trading, remittances, and it has other uses too, like simply shopping for stuff.

So if you’re fascinated in getting yourself some Bitcoin, how do you proceed? Well, the easiest way to get some is to use an online exchange, and buy some just like you would get everything else at an e-commerce site. There are some security concerns, and it’s best to stick to reputed sites, to get your Bitcoin or to store them.

I looked at a lot of different recommendations online and talked to people who have understanding with this, and here are some of the options. I am able to put jointly. Note that I have limited this article to Indian exchanges, so that you can reach out to them in case of any concerns.

# Zebpay 

Online, I found the most recommendations for Zebpay Gujarat based startup and Indian-owned operation.  Bitcoin in India has been rising since November 2016, as a hedge against measures like demonetization. Zebpay has Android and iPhone apps, and lets you link your bank account for fast transfers.

Again, you have to to carry out a KYC process, which means that this isn’t a completely anonymous account. However, it’s a regulated company in India, and it claims to offer multiple security features to keep your coins safe.

 Buy and Sell Bitcoin in India
             

It’s very simple to use, and fast, with low fees. You can buy and sell Bitcoins, remit the money to your bank account, and track historical data on Bitcoin pricing.

Check out Zebpay on the Web | Android | iOS

# Unocoin

The Company makes it easy to buy or sell Bitcoin online, and also functions as a wallet so you can use Bitcoin at other places via the site. Unocoin also has apps available for iOS and Android.

Setting up is easy, and you can buy and sell Bitcoin in India with the money going to your bank account using NEFT. Unocoin also lets you use your Bitcoin in a number of places, such as topping up your BookMyShow wallet, if you want.

 Buy and Sell Bitcoin in India
Unocoin has a low 1 percent fee, but one thing that might put some people off is that it requires ID verification, so it’s not a private transaction.

Check out Unocoin on the Web | Android | iOS

# BuyUCoin

I found this exchange being recommended by users on Reddit, and it has an Indian phone number provided for support. BuyUCoin allows you to buy  and sell Bitcoin in India online using your credit card, debit card, and netbanking.

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.

 Buy and Sell Bitcoin in India

Once you do that, you can start purchasing Bitcoin, which can be stored in popular online wallets, or in an offline wallet. You can see the price of Bitcoin at the top of the page, and then buy the coins just like you would purchase anything online.

Check out BuyUCoin on the Web

# Coinsecure

Coinsecure is also a regulated coin exchange based out of India providing services to buy and sell Bitcoin in India , which again includes KYC. This means that for people who want confidential transactions, Coinsecure isn’t the best option, but otherwise it is an attractive good option that is easy to use with low fees.

The site has comprehensive guides to explain how to use Bitcoin, and to help you find your way around the site as well. The other thing about Coinsecure is that the design is very pleasing to look and easy to understand.

 Buy and Sell Bitcoin in India

The site shows charts giving data on the exchanges taking place so you can see how other people are trading, and at what rate. It’s a little reassuring to see other people trading in Bitcoin, and the volumes being traded as well.

Check out Coinsecure on the Web | Android

# LocalBitcoins

if you’re looking for a more confidential transaction, LocalBitcoins is a well known alternative to buy and sell Bitcoin in India . The transactions can be quick and easy, and you can carry out in-person trades that can happen completely anonymously. These purchases can be carried out with cash, to avoid a paper trail.

 Buy and Sell Bitcoin in India

On the other hand, there are restrictions on the amount you can purchase at a time, and also, the prices for Bitcoin are just a little bit higher than some of the other options we discussed above.

Beyond this, on Reddit some people also shared experiences with scammers on the site. If you are careful and vigilant though, then a lot of people do recommend this because of the fast and private nature of transactions.

Check out LocalBitcoins on the Web

# Koinex

Koinex is India’s most advanced digital assets exchange helping in buy and sell of Bitcoin in India. It’s the first complete exchange supporting multiple cryptocurrencies/ tokens on a single platform. Built entirely from scratch, Koinex is aimed at bringing the magic of blockchain technology to India. Bitcoin – the world’s first cryptocurrency – was introduced in 2009 and since then over 1000 tradable tokens have come into existence. However, for a long time India missed out on the tremendous opportunity that the rest of the world had been enjoying. And Koinex has been built to to bridge that gap.

Image result for koinex

Koinex has been built over cutting edge technology. Proprietary trading engine, wallet and platform architectures, grade A security, user-centric UI/UX, and tons of user-demanded features are some of the things which define Koinex. It’s being carved to perfection, one day at a time, all with your constant love and support.

Check out Koinex on the Web

Also read  : What are the advantages of investing in a mutual fund over stocks

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