How to Buy Bitcoin in India 2022
The best way to buy bitcoin India
Bitcoin is still a confusing idea to many, but its soaring price over the past few months has gotten everyone’s attention again. The value of bitcoin is as high as $45,000 (about Rs 35 lakh).
In the beginning, bitcoin was all about speculation, and people wanted to get rich. But now, they are looking at it as a safe medium of exchange and a way out of the financial world. This is the best product in the whole fintech space right now.
Bitcoin trading volume in India has surpassed the spike of December 2017, when the digital currency was enjoying an unprecedented bull run globally. According to bitcoin.com, BTC volume has increased by 10X since the start of the lockdown.
Bitcoin is a currency that is not tied to a bank or government and allows users to spend money anonymously.
No entity controls the bitcoin network.
This is analogous to an online version of cash. Many products and services can be purchased by it.
The bitcoin network controls bitcoin. The bitcoin network consists of the common man who uses bitcoin, and anyone can be a part of it. To understand this network, we must understand the bitcoin public ledger.
All confirmed transactions from the beginning of the creation of bitcoin are stored in the public ledger. This complete record of transactions which is a sequence of records is called a block.
On 1 November 2008, a man named Satoshi Nakamoto (a provisional name whose existence is questionable) posted a research paper in an obscure cryptography catalog describing his design for a new digital currency he called bitcoin.
How Can I Buy Bitcoins in India / How Can I Buy Bitcoins in India?
Here is the updated list of the most popular Indian bitcoin exchanges from where people in India can buy/sell bitcoins:
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Coinbase / Coinbase
CoinBaseBuy Bitcoin in India
Coinbase is one of the most well-recognized cryptocurrency exchanges in the world, with over 25 million users in 32 countries. It allows users to securely buy, store and sell cryptocurrencies including bitcoin, bitcoin cash, Ethereum, Ethereum classic, litecoin, and more.
Coinbase provides a simple, user-friendly dashboard that allows traders to stay abreast of crypto prices and the value of their digital assets in real-time. The app is designed not only to let users trade but also to stay informed about crypto news and updates, price alerts, market movements, etc.
Binance / Binance
Binance is the largest cryptocurrency exchange in the world by trading volume. It blends blockchain technology with finance access and allows trading in over 150 cryptocurrencies including Bitcoin, Litecoin, Ethereum, LINK, Tezos, Cardano, and Binance Coin.
The app has a recurring purchase option, where users can choose how much and how often they want to buy a certain cryptocurrency, and Binance automates the rest of the process. Users can also send and receive crypto from friends or family through their Binance wallets by scanning a QR code.
WazirX / WazirX
Cryptocurrency exchange WazirX promises “lightning-fast” INR deposits and withdrawals. Its advanced trading interface allows traders to buy and sell cryptocurrencies through a live open order book system. The app supports digital assets including Bitcoin, Bitcoin Cash, Litecoin, Dash, XRP, Ethereum, Zilliqa, and others. Users can deposit or withdraw cryptocurrency and cash out or cash out USDT (a cryptocurrency corresponding to the value of the US dollar) via P2P trading.
They can also store their crypto assets in the WazirX wallet. Additionally, merchants get a 50 percent referral commission on the app. WazirX also provides charts for up-to-the-minute price tracking, advanced passcode security features, and autofill pricing by tapping on the order book or price ticker.
Unocoin is one of India’s leading crypto asset and blockchain companies with over one million customers. It is backed by leading VCs such as Blue Ventures, Huian Blockchain Ventures, Mumbai Angels, and others.
The app is focused on democratizing bitcoin for over a billion Indians. Therefore, users who buy, sell and store crypto assets in INR stand to profit. Top features of Unocoin include low transaction fees, a live price tracker widget, a consolidated wallet for all crypto holdings, automatic bitcoin buying with fixed amount and frequency, free bitcoin on referrals, etc.
Founded by IIT graduates, also crypto enthusiasts, Bitbns is an Indian crypto exchange that started operations in December 2017. The Bitbns team has focused on ease of use, security, and customer support from the very beginning. Check out our detailed BitBNS review.
The Bitbns team has made a difference in the Indian cryptocurrency scene.