How to Buy Bitcoin In India [2020 Edition]
In the past days, trading of cryptocurrencies like Bitcoins was not that much familiar in India. But nowadays, buying and selling (trading) of bitcoins have gained a massive attention of the cryptocurrency traders in India. Of course, bitcoin trading is now considered as a highly profitable process, in comparison with the other cryptocurrency trading methodologies available in the market. Many exchanges are reported massive signups daily and due to the high amount of traffic to buy bitcoin in India sometimes exchange have to disable new user signups. In this article we will discussion about few exchanges to buy Bitcoin in India.
The profit rate in bitcoin trading mainly depends upon the type of trading platform chosen by the trader. It is really safe to go for Bitcoin purchase from a variety of sources (Bitcoin exchanges), instead of preferring a single source. Why because, if a trader buys a large number of bitcoins in a single exchange, the chances to adopt losses are extremely high. But if he goes for a variety of exchanges, he will acquire huge gain. The following are some of the notable exchange to buy Bitcoin in India:
Note: Due to the RBI circular, crypto exchanges are not able to let traders liquidate crypto assets. That means banks accounts can not be used for buying crypto anymore and similarly you can not sell crypto and receive Rupee in your bank account through exchange. To deal with it few exchanges has launched Peer to Peer Exchange (P2P) where users can buy and sell crypto directly to each other. Till the further order from authorities users will only be able to trade between multiple crypto assets on exchanges listed below.
|WazirX ||Web, Android|
|BuyUCoin||Web, Android||No||Goto Exchange|
Best Exchanges to Buy Bitcoin in India- 2019
WazirX: WazirX, is just launched, act as a traditional cryptocurrency exchange with several different crypto pairs currently supporting Bitcoin, Litecoin and DASH trading. Wazirx will have its own exchange-backed token named WRX Coin, similarly, like Binance or Cobinhood, crypto platforms, have done in the past.
CoinDCX: CoinDCX launched crypto-to-crypto exchange as well a p2p exchange, where crypto users will have the freedom to legally buy, sell and trade crypto in 100-plus available pairs in BTC/ETH. CoinDCX p2p exchange is also known as DCXInsta. Trading fee at this platform is 0.20% only. CoinDCX offers web application as well as mobile apps to access this platform.
BuyUCoin: BuyUcoin is another India’s market leader in Cryptocurrency market. It provides easy and trusted platform to buy, trade, store, and accept many cryptocurrencies like Bitcoin, Ethereum, NEM, Civic, Litecoin, Bitcoin Cash etc.
LocalBitcoins: It is the one and only trading platform that accepts cash payments. It is designed especially for Indian traders. It ensures safety with the help of an aspect called two – factor authentication.
Unocoin: It is a perfectly suitable platform for beginners (new users) to perform bitcoin trading. It contains a simple user – friendly interface that facilitates the bitcoin investments in the form of SIP (Systematic investment plan).
The above listing is purely based on priority, which normally involves the aspects like easy usage and popularity.