How to Invest in Bitcoin in India - Coindoo
How to Invest in Bitcoin in India

How to Invest in Bitcoin in India

Editorial Team Avatar
Jan 18, 2018
3 min reading time

How to Invest in Bitcoin in India

Bitcoin has seen a great rise in value in the last months, and now everyone seems to want to get a piece of the action. But should you start investing in Bitcoin? Some say that this volatile currency is not appropriate for large investments, but others claim that if you invest wisely and wait you can get a hefty profit. As scams and frauds are waiting for newbie Bitcoin investor at every corner, things get even more complicated seeing as Bitcoin lacks a regulator that can make legal recourses.

What is Bitcoin?

Bitcoin is a cryptocurrency that is based on blockchain technology. On this peer-to-peer network, transactions can take place via cryptography without needing an intermediary. As a result, such transactions are anonymous.

What Exchanges Can You Use in India?

Trading is the simplest way you can invest in Bitcoins. You buy when prices are low and sale when they are high again in a limited time interval.  Or maybe you just want to trade other currencies (fiat or crypto) and hold bitcoins if you are convinced that their value will still go up.

But to get to trading one must register on a trading platform or exchange which is supported in India. A few trusted and reliable Bitcoin exchanges that can be accessed to buy Bitcoins in India are: ZebPay, Coinsecure, UnoCoin, BTCXIndia, Coinmama, LocalBitcoins, Bitcoin ATMs.

Other Ways of Buying Bitcoin

A popular way of purchasing Bitcoins that does not require an exchange is by buying Bitcoins offline with Local bitcoins. This website pairs up buyers and sellers from neighbouring areas. When buying, the bitcoins are locked from the seller, the platform acting like an escrow. The seller has the option of releasing the bitcoins only to the buyer.

Is Bitcoin Too Expensive to Invest in?

At the time of writing, Bitcoin was worth over USD 17.000, which meant almost 111800000 Indian Rupees. It is understandable that some might be frightened to buy even one single Bitcoin. But Bitcoin can be split into infinite pieces, and you can buy a fraction of a unit with a minimum of RS 1000.

Uses of Bitcoin in India

Momentarily there aren’t many approaches to using bitcoin in India. In the online environment, there are various e-commerce players like Flipkart, Amazon, and MakeMyTrip that run voucher programs that can be used by people via Bitcoin exchanges. In India, there are fewer merchants that accept bitcoin than U.S.- based companies, but as Bitcoin’s popularity and use keep rising, the number of such businesses is bound to grow.

Trading Volumes of Bitcoin in India

Bitcoin trading volumes are estimated to be in between RS 200- 250 crore every month.

How to Invest in Bitcoin in India – Conclusion

All of the popular Bitcoin exchanges and platforms have their advantages and disadvantages, so its best you do your research thoroughly beforehand.

Bitcoin is the hottest asset you can invest in right now, and although it has its sceptics, investors and venture capital firms are more than certain that it will continue dominating the market for a long time to come.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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