How to buy bitcoin from india quora

Upvote 2 Downvote What are the safest ways for a person in India to buy bitcoin? Download Now. How to Sign Up on PocketBits? An exchange is a place where people like you and me trade their coins, while a Would you suggest BuyUcoin for buying Bitcoin in broker is a corporation buying and selling their own coins Usually exchange tends to India, as they are among the top 5 Bitcoin exchanges have a smaller gap between the buy price and sell price. Learn more about Scribd Membership Bestsellers. Bitcoin Wallet is just like any other Bitcoin Wallet. Description: source is internet.

Crypto exchanges are facing the music

With the value of Bitcoin rising exponentially in recent times, many retail investors are getting into the cryptocurrency sector for the first time. While investing at these levels maybe fraught with dangerthe fact is, crypto-currencies are here to stay, and people around the world are only just starting to wake up to that fact. Here in India, much like the rest of the world, the lure of Bitcoins is getting harder to resist for the average citizen, and many have already started dipping their toes into the new but maddeningly confusing world of cryptocurrencies. Even the RBI was said to have been considering launching its own digital currency at some stage, although, the idea seems to have since been nixed. While some global exchanges do let you buy Bitcoins with Indian currency, the process is relatively more seamless on some of the India-based platforms, many of whom let you pay for your digital currencies with Indian bank accounts via online banking, NEFT or How to buy bitcoin from india quora. Once you provide all the details, it might take a few days for Unocoin to get your info verifiedafter which, you should be able to start trading in Bitcoins. Once you get the all-clear, you can transfer money from your bank account to Unocoin, and use that for a number of reasons, including of course, buying and selling Bitcoins.

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Last Updated on December 7, at pm. How to buy Bitcoins in India? This is not a recommendation to buy bitcoins and I do not hold any. The reason I am writing this is that the bitcoin and cryptocurrency community is filled with unsavoury pump and dump characters who can easily fool and misguide new investors. First of all, this post is not a recommendation to buy bitcoins. I do not hold any and do not intend to. I have written this with inputs from a student at IIT, Madras who values her anonymity.

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With the value of Bitcoin rising exponentially in recent times, many retail investors are getting into the cryptocurrency sector for the first time. While investing at these levels maybe fraught with dangerthe fact is, crypto-currencies are here to stay, and people around the world are only just starting to wake up to that fact.

Here in India, much like the rest of the world, the lure of Bitcoins is getting harder to resist for the average citizen, and many have already started dipping their toes into the new but maddeningly confusing world of cryptocurrencies. Even the RBI go said to have been considering launching its own digital currency at some stage, although, the idea seems to have since been nixed. While some global exchanges do let you buy Bitcoins with Indian currency, the process is relatively more seamless on some of the Inda platforms, many of whom let you pay for your digital currencies with Indian bank accounts via online banking, NEFT or RTGS.

Once you provide all the details, it might take a few days for Unocoin to get your info verifiedafter which, you should be able to start trading in Bitcoins. Once you get the all-clear, you can transfer money from your bank account to Unocoin, and use that for a number of reasons, including of course, buying and selling Bitcoins. You cannot, however, convert your Bitcoins into altcoins on Unocoins. First off, download the Unocoin app on your device and fire it up.

Unocoin says it might take a couple of days for it to go through the process as per the requirements of the RBI. Zebpay Zebpay is an India-based Bitcoin broker and, offers Android and iOS apps that make it easy to buy digital currency with a connected Indian bank account. It also offers additional services, such as mobile recharges and bitcoin gift vouchers. Like Unocoin, it also offers bitcoln a hot wallet that you can use to store Bitcoins only on a temporary basis. Visit Website 2.

Coinsecure Coinsecure is an Indian Bitcoin exchange and trading platform known mostly for its ridiculously low fees that, at just 0. However, the service is aimed at experienced traders for the most part, which means retail investors, especially new ones, might find the UI a bit confusing.

Coinsecure does have an Android appbut is conspicuous by its absence on the App Store. Visit Website. It just launched a few weeks ago and is still in betabut has already gained quite a bit of traction through word-of-mouth publicity.

It seems to work fine and a colleague of mine also vouches for its authenticity, which is why it finds itself on our list of trusted India-based Bitcoin platforms. Visit Website Advantages and Disadvantages of Using Indian Bitcoin Exchanges and Brokers While India-based companies do make it easy to buy and sell Bitcoins, the major problem is ho almost all of them are governed by Indian lawwhich is why you need to furnish a full-fledged KYC Know Your Customer form to get started.

That pretty much defeats frmo whole purpose of using Bitcoins for transactions, given how the platform was created with privacy as its main focus. In case privacy is your number one concern, the one platform that you should consider is a Finnish escrow service called LocalBitcoins that helps to match bitcoin buyers and sellers.

While the most common method of payment is cashusers may advertise trades for whichever payment method they prefer. LocalBitcoins is kind of like a Tinder for digital currencies, hooking up potential Bitcoin buyers and sellers to other Bitcoin users in their town.

Buying bitcoins via an in-person meeting is one of the fastest and most private ways to buy bitcoins in any country. Strange but true, even before you buy your first bitcoin fraction, you have to set up a Bigcoin Wallet to store your digital cash.

With a hardware wallet, you can secure your Bitcoins on your own hardware. It allows you to encrypt and make backups to ensure your Bitcoins are safe. Just remember that whoever controls the jndia keys controls the bitcoin attached to those keys, which is why you need to be extra cautious while storing.

So if you happen to lose them or forget them, you can bid farewell to your Bitcoin stash for good. While they do encrypt your keys with a password selected by you, the fact that those are stored online means that they are inherently insecure. However, they are still preferred by many because they do have the advantage of being accessible from anywhere via any net-connected device. While there are different types of cold wallets, we will concentrate on hardware wallets for the purpose gow this article, as they are the most secured ones by far.

A hardware wallet is a physical device that stores your private keys, and can be plugged into a computer when you want to make a transaction. The specifically-engineered device comes with buttons that need to be pressed in order to authenticate every transaction, making them as hacker-proof as you can realistically expect. Dangers Associated with Bitcoin Investment The inherent danger with investing in cryptocurrencies is that they are not regulated by governments or by a central bank.

Recently, the RBI Reserve Bank of India issued a statement warning people about the btcoin dangers of digital currencies. However, as with any investment, you will need to know when to jump in and when to get out, which is a difficult proposition even how to buy bitcoin from india quora seasoned investors. LOG IN. Recover your password. Related Articles.

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Muthu Kumar. In future, this company may allow Indian users to buy and sell bitcoins. Bitcoin quora india. Post demonetisation, leading Bitcoin exchanges in India witnessed a rise in user base. Discover everything Scribd has to offer, including bltcoin and audiobooks from major publishers. Find the product you want to buy. You can buy your mining contracts and choose hashrates according to your need. Dogecoin DOGE and many .