How to buy Bitcoin in India? Here's a step-by-step process on how to buy Bitcoin

Cryptocurrencies have become one of the most talked-about topics over the past year or so. Ever since Bitcoin hit the rate of 61,000 dollars in March 2020, the industry of cryptocurrency has blown up. The crypto markets have become a regular place on investment similar to stock markets and a lot of investors are making serious money on this platform.

Over the past couple of weeks, the crypto markets have seen a major downfall, after many cryptocurrencies including Ethereum, XRP and Doge reached an all-time high. Over the last few days, the crypto markets have bounced back with prices of many popular coins reaching close to their all-time high prices. In this article, we will be taking a look at Bitcoin and where to buy Bitcoin in India. 

What is Bitcoin? 

Bitcoin is the world's most expensive and popular cryptocurrencies. Bitcoin is the first-ever cryptocurrency that was ever created and it created the whole industry of cryptocurrency on its own. Today, millions of people around the world are using cryptocurrencies as an investment and trading tool. Bitcoin was started by an unnamed developer who went by the internet name, 'Satoshi Nakamoto', who has become a Godlike figure in the crypto industry. Basically, Bitcoin is a virtual peer to peer currency that people can send to each other without the need for a third-party authority. The coin was created as an alternative to government currencies after the 2008 housing crash in the US, which wiped out billions from their economy. 

How to buy Bitcoin in India?

At the time of writing this article, the Bitcoin Price in INR stands at Rs. 45,20,000 as per WazirX exchange. Buying crypto can be a complicated process, but there are crypto exchanges that make buying crypto fairly easy for a layman. Crypto exchanges are apps/websites like Binance or Robinhood that allow regular people not familiar with trading to invest in crypto in a fairly easy manner by investing their fiat currency. In India, people can buy Bitcoin through many exchanges such as Coinswitch Kuber, WazirX, CoinDCX. Follow the given steps to buy Bitcoin.

• Install a reputed Indian crypto exchange such as Coinswitch/WazirX/CoinDCX/Bitbns/Zebpay. Make sure you do your research before you settle on choosing an exchange. 
• Set up your account by registering and verifying your KYC. Make sure you enable 2 Factor authentication to make your app super secure. 
• Add your bank details/UPI details to the app. You can add money to the exchange once your bank details/UPI are registered. 
• Once the money has been deposited into an exchange, you can use it to buy Bitcoin, or any other cryptocurrency available for purchase. Refer to the above screenshots for a more detailed look. 

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