Bitcoin, a digital payment or exchange system called decentralized digital currency invented by Satoshi Nakamoto in 2009, is very trending investment topic in India. More and more Indians want to invest their hard earned money in bitcoins to earn significant profit. Many are still in dilemma whether this digital currency is legitimate and safe or not. It’s indeed that bitcoins are yet to approved by some nations but still they’re the most fascinated digital payment or exchange method across the globe. However, legality of the bitcoin is yet to be defined. India does not totally refuse bitcoin digital currency but it’s some concerns pertaining to its use for example this currency can be used for terror funding. To overcome this problem, some renowned bitcoin exchanges have come up with stringent rules for example in terms to buy and sell bitcoins from them, users have to verify their identity, bank details, and mobile numbers. This way digital currency exchanges can keep record of online transactions and on all transactions tax will be applicable. In this post, I’ll be discussing on top 4 trusted bitcoin exchanges to buy bitcoin in India.
Currently, you can buy bitcoin from any bitcoin market including international but so many options make a user confuse. Here in this post, I’ll also tell you some points that you should consider before buying bitcoin. So first let’s take a look on important factors that we’d know before investing in bitcoins –
- It’s not mandatory to buy one bitcoin. You can buy bitcoin of any amount say Rs. 500 and in returns, you will get ownership of a small portion of bitcoin.
- Bitcoin is subject to market risk which means you may also loose your money (rare chances but still possible), therefore, systematically invest in bitcoin.
Here are some renowned companies that accept bitcoins as payment –
- Dish Network
You can find many more companies that accept bitcoin as payment.
How to buy bitcoin?
Nowadays, you can readily buy bitcoin in India from any trustworthy exchange. First, you have to open a bitcoin wallet account with the exchange and then you’ve to add your bank details to your online bitcoin account and also you need to verify your identity with PAN Card or Aadhaar Card or the like document. After completing your profile, you can buy and sell bitcoins.
Though bitcoin is an international digital currency however you can buy it from India based exchanges. There are two exchanges to buy bitcoin: international exchange and country based exchange. You can buy bitcoin from any of them. I recommend you to buy bitcoin from country based bitcoin exchange because some international bitcoin exchanges don’t allow you to resell bitcoin; they only allow you to do payments through their channels.
What are the different methods to buy bitcoin?
Currently, there are two ways to buy bitcoin online: Mining and through an exchange. To mine bitcoin, you would need to buy a bitcoin mining machine which would cost you more money. Mining bitcoin is somewhat tricky than buying bitcoin from an exchange. Therefore, it’s advisable that if you’re not a techy and just want to invest your money to get higher returns then choose a bitcoin exchange. Bitcoin exchanges take some fees say 1-2% and they help you buy, sell, and store bitcoins.
Now you’re prepared and somewhat educated. Here are four renowned and trusted bitcoin exchanges from whom you can buy bitcoin.
Bitcoin value is subject to market risk therefore research thoroughly before buying bitcoin. Though, as of now, it seems that bitcoin can give you high returns but no one can precisely predict its future.
Disclaimer: We are not associates of any of these exchanges and we don’t hold any financial or legal responsibility. We’re just showing you a list of renowned bitcoin exchanges from whom you can buy bitcoin in India. Verify these exchanges or buy and sell bitcoin from these companies on your own risk.
Top 4 Trusted Bitcoin Exchanges in India to Buy and Sell Bitcoin –
This is a renowned and recommended company to buy, sell, and store bitcoins in India. The company’s headquarter is situated in Bengaluru, India. It’s offering bitcoin in many foreign countries and it has 150,000+ customers. You can buy bitcoin from this company (one of the best options to buy bitcoin in India) and can pay using IMPS/NEFT/RTGS. There’s a per day limit on buying and selling bitcoins from this company say you can buy/sell maximum 20 bitcoins per day. And also PAN card verification is mandatory to buy and sell bitcoins.
Bitcoin price is significantly more on this exchange as compared to international bitcoin price. But you will find this problem on all India based exchanges.
Coinbase is a digital currency platform where buyers and sellers can use bitcoin for financial settlements. This company is one of the top international bitcoin companies. The company is founded in 2012 and operates from Francisco, California. Apart from bitcoin, you’ve other digital payment options also like ethereum and litecoin.
I really would like to buy bitcoin from this company but currently it doesn’t allow Indian bitcoin buyers to sell bitcoin online which means you can buy bitcoin from it but you would not be able to sell it. However, you can use it for other financial settlements like purchases and payments etc.
We’re hoping in coming months or years, company will allow Indians to sell bitcoins because at current scenarios, bitcoins demand is significantly increasing in India.
3. LocalBitcoins –
The company provides an international bitcoin platform to individuals to buy and sell bitcoins. It’s operating in 248 countries. LocalBitcoins company’s head office is situated in Finland and it offers a different kind of platform to buy and sell bitcoins. Here, on this website, you directly trade with other person who acquires bitcoin. Here buyers and sellers are people like you and me who sell and buy bitcoin. This is a website where you can find people offering different prices for bitcoins.
You can also buy a small portion of bitcoin, you can buy bitcoin of Rs. 100 to any amount.
4. Zebpay –
It’s another India based bitcoin exchange started in 2012. Here, at this platform, you can buy and sell bitcoins through android or IOS app. Upon installing Zebpay app, you would need to create an account using your PAN card and bank details and once your account gets verified then you can add funds to your Zebpay account. And then you can use your added money to buy bitcoin in India. They made their app very user friendly and you can easily buy and sell bitcoin through Zebpay mobile app. For Indians, it’s a handy app to learn how to buy and sell bitcoins. You can buy bitcoin of any amount say Rs. 100 through this channel.
Final Words –
Above are some renowned bitcoin exchanges to buy bitcoin in India, you can buy your bitcoin from any of them and you’re free to research more to find more trusted bitcoin exchanges in India. Bobby Lee, BTCC’s co-founder and CEO, predicted that one bitcoin value may hit $5000-11000 by 2020 (source link) and many other industry experts predict similar values which means you can still, many argue that it’s too late to buy bitcoin, expect large returns from your investment.