The best way to buy Cryptocurrency in India
If you’re interested in buying cryptocurrency , there are several steps to take before you can get started with your first transaction. First, you’ll need to figure out how much money you want to spend. Then, you’ll need to choose which cryptocurrency you want to buy, and where and how you’ll exchange your money for that cryptocurrency. Finally, you’ll need to learn How to buy cryptocurrency in india and how to store your cryptocurrency safely and securely so it doesn’t get lost or stolen.
Choosing an exchange
There are quite a few cryptocurrency exchanges out there, but not all of them accept fiat currency (USD, EUR, etc.) deposits. Some offer credit card purchases while others may serve as middlemen between you and a bank account transfer. There’s also two types of exchanges that function differently: centralized and decentralized. A centralized exchange can be easily hacked as it acts as a single point of failure, but at the same time is more user-friendly and likely has better security features than a decentralized exchange. Your call!
Getting a bank account
This is one of your first steps as a cryptocurrency investor, and it’s likely more difficult than you think. Getting set up with an Indian bank account can be complicated: you need to provide documentation of an address, phone number, and even a photograph of yourself. Many people recommend registering with HDFC Bank, which has been reported to be more crypto-friendly than most other banks in India.
Where to buy Bitcoin in India
You can easily do that using an exchange like Zebpay. Note that you’ll need to verify your identity before buying (and sell) any of these cryptocurrencies. Once verified, it’s a simple process of transferring money from your bank account or credit card and getting Bitcoin (or Ethereum). The Zebpay app is secure and convenient, making it easy for anyone with a smartphone or internet connection to get their hands on some crypto.
Sending it to your wallet
Most exchanges require you to provide a wallet address before you can buy cryptocurrency on their platform. This wallet can be stored online or offline. If you choose an online storage option, keep your private key secure. Consider investing in a secure offline cold storage system for storing larger amounts of currency (such as Coinbase, Ledger Nano S). When purchasing cryptocurrency through an exchange, limit the amount you will invest on that platform—again, due to security risks.
Keeping it safe
To buy Bitcoin or indian cryptocurrency , Ethereum, or other coins and tokens, start with Coinbase. Coinbase is a web-based digital currency exchange (wallet) service that allows users to purchase cryptocurrency with a credit card or bank account. It’s super simple and easy to use. Once you’ve opened an account on coinbase you are free to purchase as much cryptocurrency as you wish.