Looking to buy Bitcoin in India and don’t know where to start? You’ve come to the right place, this guide is for you. By the end of this guide you’ll be able to buy bitcoin from any method legally. Yes, Bitcoin is completely legal in India. The government has only restrained banks to provide support for exchanging fiat to crypto. But nowadays a lot of P2P options are available like bitbns, koinex, wazirx, local bitcoins.
How to Buy Bitcoin Using Unocoin
Step 1: Create an account on unocoin site.
1- Head over to the Unocoin site and signup for an account. You will get a verification email; click on it to verify your account.
2- Log in to your Unocoin account. Now you have to complete the KYC. You can start this by adding your bank details. This is where you will give or receive payments when you trade bitcoins. You can only add one bank account. The documents required to complete KYC process are:
- Copy of Pan Card
- Your Photo
- Address Proof ( Aadhar Card or Driving License )
By now, you have successfully created your free bitcoin wallet and your bitcoin wallet address. You can use this address to receive Bitcoins from anyone at any time.
Step 2: Add Funds to your unocoin account.
1- In order to purchase Bitcoin, you need to add money to your Unocoin account. You can use methods like NEFT/RTFS/IMPS. To add funds, click on the “Indian Rupee” button on left side and then click on “Deposit”.
2- Then enter the amount of funds you want to add ( let’s say 1000 INR ).
3- Click on “deposit and confirm the deposit by clicking “yes”.
4- Note the reference number.
5- Wait for couple of hours until funds are added in your account.
Step 3: Buy bitcoins
1- Once the money has been deposited into your unocoin wallet, go back to dashboard and click on the button “Buy Bitcoins”.
2- Select the amount you want to invest and hit “Buy Bitcoins”.
3- Once you hit the “Buy Bitcoins” button, your transaction process will start and then Bitcoins will be added to your account.
4- Congratulate yourself! Now you are owner of some bitcoins. This is how you can buy bitcoin in India using Unocoin.
How to Buy Bitcoin using Paytm
Step 1: Create account and Setup
Go to Localbitcoins and register an account. Also, enable 2FA option. Once registered, select your country and choose PayTM in the payment method dropdown. This will list all the users selling Bitcoins using PayTM.
Step 2: Trade Bitcoins using PayTM
Now select some sellers from the list. Once you have picked some sellers that you would like to buy Bitcoins from, simply click on “buy” button.
Then, enter the amount in INR for which you wish to buy bitcoins. After entering the amount, click on “Send Trade Request” button.
Step 3: Check your balance
You are done! After successful trade you can see your bitcoin balance on your home page. This is how you can buy bitcoin in India using Paytm.
How to buy Bitcoin using Zebpay
Step 1: Create Zebpay Bitcoin wallet account
1- Download mobile app of zebpay. Then create and verify your zebpay account.
2- Open the zebpay app and enter your mobile number and then click on “Accept and continue”. You’ll get an OTP on the mobile number you entered. Enter the same OTP and then click on “verify”.
3- Now, enter the 4 digit pin that you want to set for Zebpay wallet. Remember to keep it safe, this will be used whenever you sell/purchase bitcoins.
4- Now you need to verify 4 things:
- Pan Card
- Bank details
- Aadhar Card
In order to verify these details, tap on menu option on home page and then click on “verification” and then click “continue verification”.
5- Enter your email id and go to your mailbox. Open the mail from Zebpay, read instructions and verify your email id and then click “next”.
6- Upload your PAN card scanned photo and mention exactly the same details as it is in PAN Card. Click “next”.
7- Upload cancelled cheque / statement / pass-book and required bank details and click “next”. Please read instructions carefully before submitting the documents.
8- Upload front and rear of Aadhaar card and enter required details as per your Aadhaar card and click “submit”.
9- After submitting, your account will be verified within 3 working days.
Step 2: Add money to your Zebpay wallet
1- Go to home page and click on “deposit” button. Then enter the amount you want to deposit and select RTGS/NEFT/IMPS as payment mode.
2- Tap on ‘Place deposit order’ to proceed. If you make payment from any of your other bank account, the amount will not be accepted and will be refunded back to you.
3- In next step it will ask you for transaction type and payment reference number. These details you will get once you transfer fund to your zebpay wallet.
4- Your money will be added in your Zebpay wallet within 24 hours.
Step 3: Buy and Sell Bitcoin
1- Open your Zebpay app and click “buy”.
2- Enter the cryptocurrency amount and set price at which you wan to buy bitcoin. Then click “place buy order”.
3- Enter your 4 digit PIN that you saved earlier.
4- Now your bitcoin purchase is complete and you can also see your bitcoin balance on your home screen. This is how you can buy bitcoin in India using Zebpay.
Congrats, you have successfully learned how to buy Bitcoin in India legally. Now, before you start investing, it is must that should know how to invest. In order to understand that, it is recommended to buy the book Rich Dad Poor Dad. Happy earnings!