Ever since its invention, Bitcoin has been a hot topic for discussion. Considering its recent global growth statistics and huge returns, Bitcoin has gained wide scale adoption. It has captured the prominence as being one of the most popular crypto assets. By far and over the last decade, Bitcoin has outpaced gold, crude oil, bonds, real estate and other traditional investments. Thus, today, it is the top performing asset class and is already leading the Indian crypto market.
However, despite knowing everything about bitcoin, many people struggle to try their hands at crypto trading. This is because they are unaware of the right method to invest in bitcoin in India. If you are one of those, then you are in the right place. In this guide, we will teach you the easiest way to invest in bitcoin in India.
Best Way to Invest in Bitcoin in India
Basically, there are three legit ways to buy/sell bitcoin for investment purpose in India, including:
- Investing in Bitcoin through Bitcoin Exchanges.
- Investing in Bitcoin through P2P transaction.
- Investing in Bitcoin Mining.
However, among all of the methods mentioned above the simplest way for newbies to invest in bitcoin is via an exchange platform. Crypto exchange platforms provide investors the straightforward path to acquire and avail BTC to INR exchange in India. Presently, there are number of operational bitcoin exchanges reputable for offering BTC sell and purchase services.
To get started with bitcoin investment a beginner needs to first understand the simple process followed by crypto exchanges for buy/sell of bitcoins in India.
Step 1 – Choose a reliable Bitcoin exchange and open a Crypto Trading Account on it. To open account you’ll need to fill your email address and create a strong password.
Step 2 – To start transaction you need to complete KYC by furnishing following details:
Your full name, date of birth and address as mentioned on KYC document.
Step 3 – Transfer Money (INR) to your trading account. Before trading you need to first deposit INR and then using this money you can buy bitcoin as per the latest price of Bitcoin in India as listed on exchange.
You can also invest in Bitcoin via fiat cash, credit/debit card, IMPS, UPI, and RTGS. Apart from these, there are more payment options available on exchanges. When investing in Bitcoin, exchanges charge you some transaction fee which is likely to differ from exchange to exchange.
Getting a Bitcoin Wallet to Store Coins
After the purchase of Bitcoin from an exchange you need to store them in your wallet for an enhanced safety. These wallets let you enjoy complete ownership over your cryptocurrency.
Different type of bitcoin wallets that you can use are:
- Mobile or App-based wallets
- Web wallets
- Desktop wallets
- Hardware wallets
Hence, investing in Bitcoin is not that difficult as people think. Once you open account and start investing things will become easier and you can go on increasing your investment amount.