Buy Bitcoin in India: So till now we have learnt the basic of Bitcoin like What is Bitcoin and Who created Bitcoin Etc. Now, its time to understand how you can Buy Bitcoin in India. So, Im back again with some research and personal experience about various ways of buying bitcoins in India.
Before writing this detailed guide I tried my hands on some of the Best Bitcoin Wallets and Exchanges which we will be going through further in this post.
You can buy Bitcoins from Exchanges, Marketplace or directly from other people. You can Buy Bitcoin using your Debit Card, Neft, Credit card, Paytm and even through Paypal. Though paying with Paypal and credit cards is still not easy. It all depends on the way you are going to but the bitcoins.
Moreover, the Buy and Sell Price of all the Wallets (Exchanges) vary a bit and we will discuss about its reason in the other article. So, You must have a quick look at various wallets before buying from them.
You can however, use this list as the Best Bitcoin Wallet in India as it will have all the wallets and exchanges currently available in India.
And most importantly this is really very easy so just do not panic and try to understand each and every aspect of it.
If you want to Exchange your CryptoCurrency then you must use our quick tool.
Requirements to Buy Bitcoins Online in India:
First of all lets see what all you require for Buying Online in India so that you would have some basic idea about using them.
- A Bitcoin Address (Wallet)
- PAN Card
- Bank Account
Bitcoin Wallet: Before entering in the world of crypto currencies you need to have atleast 1 bitcoin Address or in general you can say a bitcoin wallet. A Bitcoin Address is just like you Bank account which is used to send and receive bitcoins. However, I will be listing down all the Bitcoin Wallets that you can use for the same.
PAN Card: You need to have a valid PAN card as it is required by most of the Indian Bitcoin wallets for verification purposes. So get that ready!
Bank Account: You would need a Bank account to transfer money for buying the bitcoins. You can use NEFT/RTGS or any other mode offered by the wallet.
Since we know what exactly we require. Let’s move to the next steps of where to buy bitcoins from.
Buy Bitcoin in India
Below are the Bitcoin Wallet, Exchanges, Marketplaces which you can use to Buy bitcoins. Let’s have a quick look at them.
This is the Mobile only platform to Buy and Sell Bitcoins which is available on both Android and iOS. Zebpay was started in 2012 as buysellbitco.in but they re-branded it as Zebpay in 2014 adding two more partners. Since then the company has emerged as one of the fastest growing bit coin wallet of India. Currently they have more than 5,00,000 users in India and still counting.
If you want to buy your first Bitcoin in India, then Zebpay is one of the best wallet for that.
You just need to do Verification through Pan Card and Bank account details. And your wallet will soon be ready to send or receive bitcoins.
You get to see the realtime price of Bitcoin in INR which is a good thing if you are looking to purchase some bitcoins. You need to transfer the money to Zebpay account inorder to purchase bitcoins from them. Once, your transaction is completed your Bitcoins will be reflected in the App itself.
Why your should go for this Wallet?
- Being in the market for more than 4 years, they had build a huge trust amongst Indian Bitcoin enthusiast like me.
- The UI is really simple and easy to understand for a beginner
- You can even recharge your Mobile, DTH, Buy vouchers of Amazon, Flipkart Domino’s at discounted rates
- Realtime feed update which makes the app quite interesting
- If you are interested in seeing the previous rates even for the last year, you can click on Rate Chart and have a look at the whole bitcoin chart in INR.
- You get Rs.100 worth of Free Bitcoins on every successful referral.
|Ease of Use||Easy|
Why not to go for Zebpay App?
- This is a Mobile only app, hence their are no chance to check anything on PC
- Since it require ID verification, your account is no more private
- This might be frustrating for some users but the Buy/Sell fee is not displayed in real time.
- The spread between buying and selling is quite huge in Zebpay. As you can see at the time of writing this article the difference is close to Rs.3200, which I think is quite high.
Unocoin is one of the leading Bitcoin wallet of India. This platform is available on both Mobile as well as web. You just have to signup as a new user and get your Pan Card and Bank Account verified. Once, all the basic requirements are done you can start buying or selling the bitcoins through your address.
The good part is Unocoin has been trying to educate Indians about Bitcoins through their interactive videos.
Some Salient features of Unocoin:
- Two step authentication
- OTC Trading (Over the counter trading)
- Create a human-readable bitcoin address with Netki
- Auto sells Bitcoin
- Transfer money via PayUmoney
|Ease of Use||Easy|
What’s good about Unocoin?
- Unocoin is an amazing platform if you it for buy and sell purposes
- The fees of transaction is around 0.07%
- The spread between buying and selling is a bit lower than Zebpay as you can see in the above image.
- Unocoin is also one of the trusted bitcoin exchanges in India
- Transferring the amount from Bank to the Wallet is much faster than Zebpay.
- 2 step authentication which makes your wallet a bit more safer
What is disliked about Unocoin?
- It takes time for verification
- UI of Unocoin is a bit more complex than Zebpay
The list of Best Bitcoin Wallet in India can not be completed without Coinsecure which is a pioneer in Bitcoin Exchange trade. So, If you want to try your hands over Bitcoin Trading then this website is a perfect fit for your.
I would like to tell, if you are a beginner then Coinsecure will not be a good option for you to buy bitcoin in India. As the User Interface is more complicated than Zebpay and Unocoin.
Similar to Unocoin, Coinsecure also has a Youtube Channel to educate people about Bitcoins.
The best part is the spread between Buy and Sell is extremely small, thus allowing you to do trading in India.
|Ease of Use||Average|
If you are the one who does not even want to make any online payments like NEFT or IMPS to buy Bitcoins, then Localbitcoins will suit you the best. This is a marketplace where you can buy/sell bitcoins peer to peer. Here you can buy bitcoins even with Cash or Paytm.
Localbitcoins is even allows you to buy bitcoins with Paypal. Moreover, this site is generally famous among people who does not want to disclose their identity and it is a very secure way to invest your Black Money into bitcoins.
You can go through the profile of the trader by click on their profile and also look at their reviews. But you need be very careful while trading with someone and try to trade in a public place.
Why you should try Localbitcoins?
- If you do not have Bank account or Pan card then this is where you should head towards
- This will help your transaction to be completely “Off the Radar“
- Customer support is very helpful
- Their are numerous ways of paying
Why not to go for LocalBitcoins?
- The price of Bitcoin will be more than Zebpay, Unocoin etc
- The risk of loosing money is high
|Ease of Use||Average|
BTCxIndia (Stopped Working)
BTCxIndia is India’s 1st Bitcoin trading portal which was founded in 2012. It was about to be closed in May 2015 due to disagreement with their Bank(Bank closed their account) but somehow the website struggled and is working quite well know.
BTCxIndia is a great website for those who want to do bitcoin trading or buy bitcoins in India. All you need to do is:
- Just sign up as a New user
- Verify using KYC form
- Your account will be verified within 48 hours
- You can now start trading regularly.
If you are new to Bitcoin Trading world then you can call at their customer care number which is available between 8AM to 8PM(Mon to Sat). This will help you to understand trading in a more better way and you can make huge profits out of it.
That’s all for today! I will be keep on adding more Bitcoin wallets regularly so that you get full information here at coinscage. If you are interested in understanding How Bitcoin Works we got that too!
Do comment below if you want me to add any other way to Buy Bitcoin in India. If you liked this article then don’t forget to share this with liked minded bitcoin enthusiast!