Bitcoin is the world’s leading digital currency which continues to grow day by day as people discover it’s potential for peer-to-peer digital payment system and realize investment opportunities in bitcoin.
How is bitcoin different from government issued money ? The supply of bitcoin is limited to 21 million bitcoins and can’t be inflated like other currencies.
It is the first decentralized currency which works without a single administrator. You can transfer bitcoins to anyone as long as you have a smartphone and internet.
If you are interested in getting a bitcoin for yourself and seeking help on how to proceed for it, the best ways to get it is through an online exchange or on an online selling site like we do for anything else. However, in order to avoid any security concerns, it is advisable to get them from reputed sites only. Here are some of the exchanges that can help you get started with the bitcoins.
Zebpay ( Recommended)
The application again follows a KYC process, and no transaction can be made completely anonymously.
Being a regulated company in India, it has multiple security features that keep the coins safe. The application is easy to use, quick and charges a negligible fee. While you transact with bitcoins, the money can be remitted to your bank account and also track the historical data and pricing of the bitcoins. Download zebpay here
Also use code REF31014843 to get free bitcoins worth Rs. 100 in India.
Unocoin is one of the most recommended Indian owned operations company. It is identified that the interest in bitcoins in India has been growing lately. The company has made it easy to buy and sell bitcoins online and also works as a wallet letting you use bitcoins through the site. The Unocoin has apps available for Android as well as iOS. The transactions made for bitcoins can be done through NEFT. One can top up his BookMyShow wallet using bitcoins.
The site charges a fee of 1% and requires ID verification. Thus, it does not allow private transactions.
This was one of the famous websites recommended by users on Reddit. It allows you to buy bitcoin using your online debit card, credit card as well as through net banking. The user should first generate a purchase ID while buying a bitcoin. To do so, it will ask you your name, phone number, email ID, PAN number and a photograph of the PAN card. You may also be asked to upload another ID such as Aadhaar card and driving license. The bitcoins can be purchased and saved online or may be stored in the offline wallets. Make sure to check the price of bitcoins on top of the page before buying anything online.
It is a regulated exchange based out of India not being the best option but still a pretty good opportunity to consider. It again required KYC and is not suitable for people wanting to make private transactions. The site charges a minimal fee and gives a detailed explanation of how to use bitcoin to find a way around the site. The site is worth considering because it is designed attractively and is pretty easy to understand. It also has charts that show data on how others are trading and what rate currently prevails in the market. It gives a sense of support to see other people trading in bitcoins and shows the volumes of bitcoins being traded.
This is a better alternative and an optimum choice to make if you want to make a private transaction. One can carry out in-person trades that can be conducted anonymously. These transactions may be made in cash in order to avoid any paper trail. However, there are certain limitations on using the application like the amount you can purchase at a time is limited and the price of bitcoins here is a little higher than the other applications stated above. Reviews have also shared the existence of scammers on the site and thus needs more vigilance and care. This is still a recommended site because of the quick and private nature.
Once you’ve got your bitcoins online, it is recommended to transfer them to your offline wallet right away. There are risks of bitcoins being hacked, and it is challenging to track the bitcoins. Thus, if by any chance the bitcoins are stolen, the only option is just to write them off. One of the best options to store them is using a desktop based wallet using a mobile application. Some of the applications to mention are electrum and mycelium. People also suggest using the online ‘hot’ wallet where you can keep a little of your money and use it to make purchases online and keeping the rest safely offline.
Download zebpay here ( Recommended App)