BEST PLACE TO BUY BITCOIN IN INDIA
What are Bitcoins
Bitcoins are the world’s first decentralized, digital currency & payment network, which will help us to connect financially. Bitcoins are the modern way to send money, enables borderless, fast and cheap access to the world of finance and permission less. Generally, Bitcoin stands out as the perfect money, they are durable, scarce, divisible and portable. Bitcoin is the alternative asset or commodities such as gold which are gradually become more accepted as an alternative currency. The demand for the Bitcoins was skyrocketing, that means the price of the Bitcoins was bound to skyrocket which means limited supply with increase in demand.
How to buy a Bitcoin
You cannot buy Bitcoins through cash. All purchases regarding Bitcoins will have to happen through NEFT / RTGS online transfers, or through PayU money wallets. Second important thing needs to be noted was, you should register for an account by either downloading any Bitcoin selling applications or through online. Some of the applications and websites require your KYC (Know your customer) details before you can start the trading. You need to give your details such as:
- Pan Card copy
- Address proof copy
- Bank details
- Phone number
Uses of Bitcoins
If you are getting started with the Bitcoin, you need to know exactly what are all benefits really you will have with the Bitcoins. Below given are some of the most popular reasons and benefits why people are choosing and opting to use the bitcoins:
- When you send the bitcoins to someone, there will be no involvement required from a payment processor, which means that the fee for the each transaction will be very small which was from zero to negligible.
- In so many cases, the usage of Bitcoin was easier & quickest way to make any payment through the internet.
- While making a donation or even buying a digital item which doesn’t require any shipping, Bitcoin does not require any kind of personal information.
- Accepting of the traditional credit card payments was not only more expensive for the merchants but it may also leave they open too many fraudulent payment reversals & also charge backs. But when using o the Bitcoin payments was not reversible, once the merchant has received the payment, they will be very sure that payment will not be canceled fraudulently.
- Complete control over your money by using Bitcoin, Bitcoins will always enable freedom to store & control your money in very unprecedented manner.
- They are free from restrictions, penalties & fees which are commonly imposed by the banks.
- You can be empowered to make any decisions about finances which were previously the domain of the financial institutions & governments.
- Bitcoin will also enable you to take any kind of personal responsibility for all your savings.
Unocoin was the first website which was recommended highly to get started with if you never purchased Bitcoin before. Unocoin was very easy & their interface will be user-friendly. Unocoin is having great features & additional features will be consistently adding. You can go for Unocoin if you are someone who really wants to invest in the Bitcoin as a SIP. Unocoin is also having a mobile app both Android & iOS which will help you to make Bitcoin transactions from your mobile also. Other important features which make Unocoin as a favorite choice for buying or selling or exchange of Bitcoin were:
- OTC (Over the counter trading) Trading
- Auto selling of Bitcoin
- Unocoin provides you a simple & also powerful API in order to integrate Bitcoin payments into all your business needs and also applications.
- Only two-step authentication in order to keep your account secure.
This was another most popular website in India to purchase the Bitcoins. Same like Unocoin which was a Bitcoin wallet, this one is also Bitcoin exchange site. This was most secure and perfect for those who were looking to trade in Bitcoin. Same as all other websites, you need to do all the KYC (know your customer) verification, then you will get a call for the account verification & this whole process has now become a standard practice for all India-based Bitcoin exchanges. This coinsecure was not friendly for the beginners, but it was great for the experienced Bitcoin users, it offers a lot of details within the dashboard itself. Also, it was good for the implementing the remittances through Blockchain technology along with the partnership with OKLink. Coinsecure recently has launched Android app, by this application it makes much easier to do Bitcoin exchange in real time. They are also having a dedicated YouTube channel for all the beginners in order to start with CoinSecure.
If you are looking for a great way to trade the Bitcoin in India through your mobile phone, Zebpay was one of the best and perfect choices for you. Zebpay was an application to buy & sell the Bitcoin. In this application or website, you can transact in the Bits & you can also buy vouchers for all most all the popular stores such as Amazon, Cafe Coffee Day, Pizza Hut and Flipkart etc. You can also get recharge your mobile phone, data cards, DTH, by using these Bitcoin. They are soon adding their support for Landline, Broadband & electricity payments through Bitcoins. Same as Unocoin, this was also very user-friendly & you can start within no time. Once after downloading it & registered yourself by using their mobile application, you can able to complete your complete verification by uploading a single picture of yours and your PAN card. After that, you will be inside the application dashboard than you will be able to see continuous activities from other members also.