Since the start of 2017, Bitcoin has been on a bull run like never before. The value of each coin has increased by over 1000% since January and it seems as if more people are jumping on the bandwagon to invest in this unregulated currency.
A report by the India Today group states that while Indian investors are fueling a bull run, they are doing so with caution. This is especially true in light of China’s recent ban on ICOs (Initial Coin Offerings) and its impact on Bitcoin’s falling price.
These uncertainties have led many Indians to look for other ways to buy Bitcoin, especially since many exchanges like Unocoin now require a PAN card, which makes things harder for those who aren’t comfortable with giving out their private information.
In this guide I will list 5 ways to buy Bitcoin in India using your bank account and also using cash. I will also list some precautions you should take so that you don’t get scammed!
1. Zebpay: How To Buy Bitcoin In India
Bitcoin may have become the currency of choice for the anonymity-loving Internet underground, but getting your hands on some of the stuff is about to become a bit less anonymous.
The Bitcoin Foundation, the nonprofit group that maintains the software that manages transactions in the virtual currency, announced late Monday that it will now require all its members to provide personal details and be approved by a committee.
What does this mean for those using or looking to use Bitcoin? Well, it’s not entirely clear, as the foundation’s announcement doesn’t spell out what exactly an approved member will get from joining. But it’s a good bet that any Bitcoin user could eventually benefit from this move toward becoming a legitimate organization.
Here are five ways you can buy Bitcoin in India and how each method stacks up against the others.
1. Zebpay: The most popular Bitcoin exchange in India, Zebpay has Android and iPhone apps which make it easy to buy Bitcoins with rupees. Users can recharge their mobile/DTH directly from within the wallet and pay their postpaid bills too.
2. Coinsecure: Coinsecure is an Indian Bitcoin exchange and trading platform headquartered in Delhi, India. The company was incorporated in July 2014 and launched its exchange platform in January 2015.[1] Its
Bitcoin is the most popular cryptocurrency in India, and many other countries in the world. In 2017, bitcoin prices surged to $20,000 for a single Bitcoin. CoinSutra was started as a passion project, and now it’s empowering users around the globe to learn about popular cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple, and more.
If you are new to the crypto space, you might have heard about only Bitcoin. But there are more than 5,000 cryptocurrencies out there. You can explore them all on CoinSutra here: Cryptocurrency List: Coins & Tokens Explained.
But if you are new to this space and want to buy some Bitcoin or any other altcoin then you might be wondering how to do that?
In this post, I will tell you how you can buy your first Bitcoin in India using the 3 best websites that I have personally used. I believe they are the most reliable ones out there. Once you have bought your first Bitcoin (BTC), you can easily convert it into other altcoins such as BCH (Bitcoin Cash), ETH (Ethereum), LTC (Litecoin) etc.
Bitcoins are a rage these days and their popularity has been growing day by day. Not so long ago, Bitcoin was trading at around $200-250 but last year, the price of BTC went skyrocketing to $1000+ and it is now hovering around $12800+ level. And, this is just the beginning.
If you are looking to buy Bitcoins, then here are the top 5 ways to do so.
Unocoin
Unocoin is one of the leading bitcoin exchanges in India. The company is headquartered in Bangalore and allows people to buy bitcoins with ease. Unocoin’s wallet offers a seamless way to exchange bitcoins for rupees or vice versa. You can also use Unocoin’s mobile app that lets you buy, sell, send and track Bitcoin from your phone.
The company recently raised $1.5 million in its Series A funding round from investors such as Blume Ventures, ah! Ventures, Mumbai Angels and Boost VC.
Zebpay
Zebpay is another popular bitcoin exchange in India that allows users to buy bitcoins through their smartphones. The company recently launched an Android app that makes it easy for smartphone users to use Zebpay’s services on the go. The app lets users conduct basic transactions such
Coinswitch: Coinswitch is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It allows trading of 120+ different cryptocurrencies to INR.
Unocoin: Unocoin is a Bengaluru-based technology startup that enables Indians to buy, sell, store, use and accept bitcoin.
CoinDelta: CoinDelta is another new entrant that offers a multi-cryptocurrency exchange. It has partnered with Bittrex for a trade engine and it also supports most cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
Zebpay: Zebpay was founded in 2015 by Sandeep Goenka and Mahin Gupta and it claims to be India’s first bitcoin exchange. The app allows users to buy and sell bitcoins in real time across major cities in India.
Bitxoxo: Bitxoxo was founded in 2016 as a way to purchase bitcoin with INR online or at any of their physical kiosks located across the country. While they initially only accepted wire transfers, they now support both NEFT and RTGS bank transfers.
Buying Bitcoin in India is now very easy. Bitcoin has been a very popular cryptocurrency in India, and the Indian government has recently legalized bitcoin as well.
There are multiple ways to buy Bitcoin with INR (Indian Rupee). Some of the most popular ways are mentioned below:
Localbitcoins – LocalBitcoins is a peer-to-peer marketplace that allows people to buy bitcoins with almost any currency. The site charges a 1% fee on trades. The prices can be higher than other exchanges because there is an additional premium for buying bitcoin with cash or for using other payment methods.
Unocoin – Unocoin is one of the leading Indian bitcoin exchange companies used by more than 1 million customers. You can buy bitcoins, litecoin, ethereum, ripple and other coins with Interace e-Transfer or bank wire for as low as 0%. The company has a large customer base in India and also accepts payments through NEFT and RTGS.
ZEBPAY – Zebpay is one of the largest cryptocurrency exchange platforms based in India. The platform charges a 0% fee for bitcoin transfers and a 0.5% fee for INR deposits and withdrawals. There’s no deposit fee to convert your local currency into or out of bitcoin
Bitcoin has been on a bull run since its inception. Over the years, it has hit many highs and lows, To better understand the past of this cryptocurrency, as well as its potential in the future, take a deeper delve into its history.