Crypto

How To Purchase Bitcoin legally in India

Written by Elijah

Bitcoin has been a game ganger for the cryptocurrency market across the world. India is slowly catching up with the fast pace of cryptocurrency spreading due to their demand among today’s generation.

And for all those who want to educate themselves about investing their money and buying Bitcoin in India.

Here are some things which you should keep in mind and that would help you further:

How to purchase bitcoin legally in India

People looking to buy Bitcoins have to take some steps to make a good investment without getting fooled and maintaining the law.

  • Primarily individuals should start by submitting their necessary documents with a PAN card and Aadhaar card, which are essential for completing the KYC process.
  • To purchase Bitcoins, you have to place an order on the cryptocurrency exchange.
  • Investors investing their money can transfer directly by paying the payable amount to the crypto exchange once the order is placed.
  • The money can be transferred by alternative ways such as debit or credit cards, RTG, and other digital modes, which are used daily by most of us for transactions.
  • The last and most crucial step is to store the purchased Bitcoins successfully in bitcoin wallets specified by the cryptocurrency exchange.

Where to buy Bitcoins?

The most reliable options for the crypto exchanges are digital interfaces such as Zeb Pay, CoinDesk. These interfaces help individuals to buy Bitcoins at the current market price.

Few crypto exchanges even provide apps for mobile phones, so investors link the bank accounts with the apps, which help in easy instant transactions.

But the must step is to get the KYC process completed before trading Bitcoins.

All the individuals investing must link their respective PAN cards with their bank accounts to transfer and withdraw funds. If not, you can’t buy Bitcoins in India.

What is the amount for investing in Bitcoins?

According to inferse.com For investing in Bitcoin, there is no limit defined in India. Investors can buy small units of crypto exchange according to their preferences.

Individuals add money to their specified accounts and place an order for Bitcoins whenever they want, but the minimum capital for investing in Bitcoin is Rs. 100 according to Indian laws.

Where to store Bitcoins

Bitcoin is stored in wallets which also holds the transaction information from the accounts for the safety of money.

About the author

Elijah

Elijah is a professional blogger and marketer, who frequently writes about custom packaging, technologies, news and health.