You can buy bitcoins in India through different digital currency exchanges. and are the most well-known exchanges from where you can buy bitcoins by using your credit card. You can also see their tutorials before buying the currency.

In India, Zebpay is the most popular exchange app to purchase bitcoin. Zebpay can be installed both on Android and iPhone, which allows you to connect your bank account for fast transfers. By making a payment in Zebpay’s bank account, you can purchase bitcoins. You can also extract the money to your bank account, and check information on bitcoin evaluation within the country. 

           To buy bitcoin in India, you need to fill up a KYC form and verify your ID by giving a photocopy of your PAN card. Unocoin is another currency exchange company in India that allows you to trade in bitcoin. This company can allow buying, selling, preserving, using, and accepting bitcoin. According to this company, they have 1,50,000 customers.

           To store bitcoins in India or globally, a wallet is a must, which you can keep on your computer or smartphone. You can save the information on other devices as well, so in case if the hard drive crashes it will be easy for you to get back the data. You select any type of wallet according to your needs.                       

India’s Prime Minister Narendra Modi is working hard to make India a cashless economy, and for his reason, many Indians are getting attracted by cryptocurrency like bitcoin. After demonetization, bitcoin was the leading cryptocurrency in India. Sathvik Vishwanath, CEO of bitcoin wallet Union, had declared that the demand for cryptocurrency rose in India multiple times after the demonetization. According to Sandeep Goenka, CEO of Zebpay – Indians believe Zebpay is a substitute and safe investment option. People are downloading Zebpay to experiment with digital currencies, and the number of Zebpay downloads has increased by 50{c11b4ab6dc2c9e87c276140fc663c87923e2a03a3ad9c27368d6191e0f8759f5}. 

How Bitcoins are Made?

Like usual paper currencies, Bitcoins cannot be minted, but can only be mined. Only 21 million bitcoins have been made till now. Currently, only 16.8 million or 80{c11b4ab6dc2c9e87c276140fc663c87923e2a03a3ad9c27368d6191e0f8759f5} bitcoins have been mined.

How Much Can You Get as a Return, if You Invest in Bitcoins?

The decentralized fundamental currency that took the world by storm has observed a 300{c11b4ab6dc2c9e87c276140fc663c87923e2a03a3ad9c27368d6191e0f8759f5} rise in price within a year. Its price broke the record when Japan introduced a new law to acknowledge bitcoin as an official payment method.

Despite RBI’s unwillingness to accept the cryptocurrency, the curiosity of Bitcoins in India has not decreased. After the surprising move of Narendra Modi of demonetization, India based bitcoin trading company observed a 25{c11b4ab6dc2c9e87c276140fc663c87923e2a03a3ad9c27368d6191e0f8759f5} rush in profit. Unocoin, another India-based bitcoin trading company that had granted funds from Blume Ventures, saw three times growth in its user base after demonetization.

The worth of bitcoins will not come down because there are a restricted number of bitcoins, and each day more people are showing interest in cryptocurrency.

The Legality of Bitcoins in India

Though economies like Japan and Russia have authorized the use of Bitcoins, India being at the point of the digital revolution has not officially accepted cryptocurrency. The banks of India, including RBI, had earlier stated about virtual currencies including bitcoins to their users, account holders, and traders.

Deputy Governor of RBI R. Gandhi warned Indians against the use of cryptocurrency like bitcoin. He said that – cryptocurrencies, can cause possible financial, official, customer safety, and security associated risks. He also said that payments by cryptocurrencies are a man-on-man basis, and there is no recognized structure for an alternative to customer problems, and an authorized position is certainly not there. But the central banks of India have not directly banned bitcoins in India.


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