Many people are actually investing in cryptocurrencies and semm to be making money out of it. This brings us to the questian: Should you invest in cryptocurrencies or sit this one out?
In India, about eleven trading platforms exist from where you could buy Bitcoins and other cryptocurrencies. These include Zebpay, Coinsecure, LocalBitcoins, Bitsoin ATMs, Coinmama and Koinex.
Amoung them, koinex and zabpay seem to be getting pretty good reviews and feedback on social media. While Zebpay is only available as a mobile app, where koinex has desktop and mobile app. Comparing the two, the bitcoin buying price in INR versus the selling price is found to be not much different.
How to buy Cryptocurrencies in India
To give you an idea of how to buy cryptocurrencies, we are going to use Koinex as an Example, to buy bitcoins. But this is in no way meant as an endorsement of those products. The general idea remians the same, regardless of the platform.
- To sign up on Koinex, you wold need the following: Aadhaar card copy of both the front and back panels, PAN card and blank passbook. While signing up, you may encounter referral links that are posted online by people who promise a welcome gift – usually some small amount of cash in Indian rupees. You should avoid these links. Some of them could be scams.
- One you have given your details for signing up, wait until the KYC gets verified.
- After he accounts gets verified you could transfer the money into the wallet from the approved bank account. This can be done either via NEFT or through online transfer. This may incur a small fee.
- It’s now time to buy the cryptocurrency of your liking.
- And that’s it. You could log out now. You ould log in again after a while – say a month or so to check how the currency you brought is trading.
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