Bitcoin is the first ever cryptocurrency that has been growing continuously with time. With its growing popularity, more people are buying bitcoins. A lot of hackers and intrusion makers keep on planning to attack servers and prefer the payment in Bitcoin as such transactions are traceable. So one should opt for a secure medium to buy bitcoins.
Bitcoin has proved itself to be a beneficial investment option because its price is significantly increased with time. The usage of bitcoins for online trading as well as shopping is also increasing.
Before getting into more details, let’s discuss some basics related to Bitcoin:
What is a Bitcoin?
It is a digital currency i.e. used to make payments without any fees. It is based on the blockchain technology in which peer-to-peer network is established and a decentralized ledger is continuously updated by “miners”. Miners are individuals who help to accomplish a bitcoin transaction through their computers and are rewarded in bitcoins after each successful transaction.
- By whom was it brought into existence?
Satoshi Nakamoto, a confidential internet user, discovered bitcoin in 2008 and launched it online in 2009.
What kind of exclusivity did it introduce?
The main concept that it introduced is that it is completely free of any government authorization i.e. there is no third party involvement in any transaction. That’s why there is no fee associated with the bitcoin or any cryptocurrency transaction. Blockchain technology makes all the transactions fully verified and no one can counterfeit the transaction in between.
What is its worth?
Bitcoin usage is increasing with time and currently, 1 BTC is equal to 280,017 INR. If you are also intending to give it a try and planning to buy bitcoin, we will help you accomplish the task. The easiest way to get bitcoin is through an exchange process.
There are many fraud websites, so try to consider the authentic ones. After researching, we have collected some Indian exchange platforms for you to deal with them directly.
Coinsecure provides an inexpensive medium to exchange bitcoin in India. It is a regulated coin exchange out of India that includes KYC. The individuals who want to perform private transactions, should not opt for this one. Otherwise, it is a decent option to participate in an exchange process in comparatively low fees.
When you’ll go to this site, you will be explained whole phenomenon to use a bitcoin, and also further processing. The interface of Coinsecure is very simple and anyone can understand it easily. The website also shows charts that present ongoing exchanges so that you may see how others are trading, and also get an idea about the rates. Coinsecure also has a mobile app that can be used by Android users.
PocketBits is also an Indian Bitcoin Exchange founded by Sohail Merchant. It is one of the Best Cryptocurrency Exchange platform to Buy & Sell Bitcoins in India. It also offers with 24/7 Customer Care Support. Services provided by PocketBits are very quick as well as fully verified.
The process to buy Bitcoin on PocketBits:
I. First of all, Open PocketBits Dashboard. You’ll see 2 wallets there; one is the normal Bitcoin Wallet, and the other one is the INR Wallet. Bitcoin Wallet works as any other Bitcoin Wallet.
II. Click on the Deposit Button from INR Wallet. Now, you’ll be able to see your registered Bank Details. Just pay the described amount via IMPS, NEFT or RTGS.
III. After completing the payment, enter the amount, and the Reference No. associated with the Payment Method to add funds to your INR Wallet. Now, you’re ready to Buy Bitcoins.
IV. Click on Buy BTC, on Dashboard.
V. Enter the Amount in BTC or in INR and click on “Buy Bitcoins”. After clicking you would receive your bitcoins within an hour.
PocketBits not only allows you to buy, sell bitcoins but also to stop using them, and also many other features. It is also about to come up with a mobile app.
Unocoin is an Indian-owned operation that makes it super easy to buy or sell Bitcoin online, and also offers wallet facility so that you may use Bitcoin at other places through the same site. Unocoin also has a mobile app that can be used by iOS and Android users. You may easily buy and sell Bitcoin with the money being transferred to your bank account via NEFT. It also allows you to use your Bitcoin at many places, like BookMyShow wallet, and on other platforms.
The process to buy Bitcoin through Unocoin:
In Unocoin also, there are 2 different wallets; one is the INR Wallet, and another is Bitcoin Wallet. To Buy Bitcoins from Unocoin, you have to add funds to your INR Account.
Supported Payment Mediums through Unocoin:
Payumoney Balance (Plus 1.9% Processing Fee)
Netbanking (Plus 1.9% Processing Fee)
Must Follow Payment Instructions:
You have to maintain a sufficient INR balance in your Unocoin account that can be used to buy bitcoin instantaneously. They accept cash deposits and you will be allowed to use NEFT/RTGS/IMPS through your registered bank account only. After completing INR transfer, update the reference number against the deposit order you generated. After transferring, your deposit order will be processed in minimum 3-4 working hours or maximum 24 hours. If you don’t use your INR balance within 90 days, the available amount would be refunded back to your bank account.
After successfully adding INR fund to Unocoin Account:
I. Open Unocoin Dashboard.
II. Click on “Buy Bitcoin”.
III. Enter the Number of Bitcoins you want to buy or a specific INR amount, and it
will be converted into Bitcoins.
Zebpay is also considered as a recommended medium to buy bitcoins. It is based out of India and has Android as well as iPhone app. It allows you to link your bank account to enable quick transfers. Zebpay has established itself as a regulated company in India, and it claims to offer multiple security features to keep your coins safe. It’s quick, easy to use low fee structure making it more popular day by day. You may buy, sell Bitcoins, remit the money to your bank account, and also track previous data on Bitcoin pricing.
One can also buy Bitcoin from individuals but the issue of trust comes in between. The seller may demand the payment first and the buyer may ask for the transfer. If this issue can be resolved, then purchasing from individuals may prove to be a good option too. Buying Bitcoin from an individual would be comparatively inexpensive than opting any of the exchange platforms.