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 bitcoin to earn significant profit. Many are still in dilemma whether this digital currency is legitimate and safe or not. It’s indeed that bitcoin is yet to be approved by some nations but still it is very 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 best bitcoin wallet companies have come up with stringent rules for example in terms to buy bitcoin from them, users have to verify their identity, bank details, and mobile number. 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 best bitcoin wallet 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 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 bitcoin:
- It’s not mandatory to buy one bitcoin. You can buy bitcoin of any amount say Rs. 1000 ($20 approx.) and in returns, you will get ownership of a small portion of bitcoin.
- Bitcoin is subject to market risk which means you may also lose your money (rare chances but still possible), therefore, systematically invest in bitcoin.
Here are some renowned companies that accept bitcoin 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’ll need to verify your identity with PAN Card, Aadhaar Card, or the like documents. After completing your profile, you can buy bitcoin.
Though bitcoin is an international digital currency however you can buy it from India based exchanges. There are two types of exchanges to buy bitcoin: international exchanges and country based exchanges. 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 sell 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. Bitcoin Mining is somewhat tricky than buying bitcoin from an exchange. Therefore, it’s advisable that if you’re not a techie and just want to invest your money to get higher returns then choose a bitcoin exchange. Bitcoin exchanges take some fee say 1-2% and they help you buy, sell, and mine bitcoin.
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 associate of any of these exchanges and we don’t hold any financial or legal responsibility. We’re just showing you a list of best bitcoin wallets from whom you can buy bitcoin in India. Verify these exchanges or buy bitcoin from these companies on your own risk.
Top 4 Best Bitcoin Wallet Companies in India to Buy Bitcoin –
1. Unocoin –
This is a renowned and recommended bitcoin exchange to buy, sell, and mine bitcoin 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 bitcoin wallet companies to buy bitcoin in India) and can pay using IMPS/NEFT/RTGS. There’s a per day limit on buying and selling bitcoin from this company say you can buy/sell maximum 20 bitcoins per day. And also PAN card verification is mandatory to buy bitcoin.
Bitcoin price is significantly more on this exchange as compared to international bitcoin price. But you will find this problem on all India based bitcoin exchanges. Sign Up and Get Rs. 200 Free Bitcoin.
2. LocalBitcoins –
The company provides an international bitcoin platform to individuals to buy and sell bitcoin. 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 bitcoin. 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 best bitcoin wallet website where you can find people offering different prices for bitcoin.
You can also buy a small portion of bitcoin, you can buy bitcoin of Rs. 1000 ($20 approx.) to any amount. Sign up on LocalBitcoins.
3. Zebpay –
It’s another India based bitcoin wallet exchange started in 2012. Here, at this platform. You can buy bitcoin through android or IOS app. Upon installing Zebpay app, you will need to create an account using your PAN card and bank details. Once your account gets verified then you can add funds to your Zebpay account. Then you can use your added money to buy bitcoin in India. They made their app very user friendly and you can easily buy bitcoin through Zebpay mobile app. For Indians, it’s a handy app to buy bitcoin. You can buy bitcoin of any amount say Rs. 1000 through this channel. Sign up to get free bitcoin worth Rs. 100.
4. Coinsecure –
It’s an Indian bitcoin exchange. After checking its background, you can buy bitcoin from this exchange. This bitcoin exchange is not too famous among Indian bitcoin investors but bitcoin.org has mentioned its name in list of bitcoin exchanges to buy bitcoin in India, therefore, you can consider this exchange to purchase bitcoin.
Pay Attention to this!
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 like Ethereum and Litecoin.
I really would like to buy bitcoin from this company (best bitcoin wallet 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 bitcoin because at current scenarios, bitcoin demand is significantly increasing in India. If we make a list of top 10 best bitcoin wallet companies then certainly Coinbase will come in that list. Sign up on Coinbase.
Final Words –
Above are some best bitcoin wallet companies 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 high returns from your investment.
Disclaimer: This post is for information purpose only. Don’t take this information as an investment suggestion. As you know cryptocurrencies are highly volatile therefore invest in them on your own risk.