Bitcoin is one of the most popular cryptocurrencies in the world. Although bitcoin is a volatile market, people have started seeing it as a good investment alternative with rising popularity. According to a Kantar survey, bitcoin has a 75 % market share in all cryptocurrency investments. So how do you buy bitcoin in India? Platforms such as investby are a good place to begin.
If you still want to invest in bitcoin and taste its profits, here is how to buy bitcoin in India.
How to Invest In Bitcoin in India?
Bitcoin has become a new asset class for investors globally. But is it favorable that you still need convincing to buy and sell cryptocurrency in India? Bitcoin is one of the top-performing investment assets globally.
For people who want quick and high returns on their investments and do not want to mind risk taking bitcoin is a good option.
After the pandemic, bitcoin’s price rose to around 48 lakhs by November 2021. So bitcoin price predictions are bright.
Additionally, bitcoin is a deflationary asset, and its supply is limited, currently capped at 21 million. This aspect of bitcoin acts as a shield against inflation.
Now that you know how to invest in bitcoin in India, here are certain things to consider before you start investing.
Steps to Buy Bitcoin in India
Choose the Right Crypto Exchange Platform
For investing in bitcoin, you need to find a crypto exchange platform where you can buy bitcoin in exchange for normal currency.
The choice of the crypto exchange depends on several factors. Before buying, you should know joining fees, trading charges, deposits, and withdrawal fees. Investby is a reliable currency exchange.
Choice of Payment Option
After the choice of platform, the next step is to decide on a payment option. Debit cards/credit cards and e-wallets are common funding options.
Just to be cautious, some platforms charge a higher processing fee for some funding choices. Investby offers a wide range of options like Visa and MasterCard.
And many more.
Placing an Order
After the account funding is decided, you can start buying bitcoin. Depending on the choice of platform, buying bitcoin can be as easy as clicking a button. Next, you will have to enter the amount you wish to invest.
When the payment is complete, you will be an owner of a portion of bitcoin. Bitcoin is sold in portions because the cost of one bitcoin is very high, and buying it will require a large upfront investment. This is so because one bitcoin can cost as high as $ 38,000. If you want to make a small investment, you can own a percentage of bitcoin. This is a similar concept to cents on the dollar.
Selecting a Safe Storage option for Crypto
Bitcoin wallet is usually integrated with the platform where you can store your currency. But some people find it unsafe to let their currency be connected to the internet. It is possible to secure your bitcoin in an offline wallet. But this security comes at a price; you may have to pay the withdrawal fee.
Using a third-party crypto wallet also comes with the risk of losing all your investment if you forget the primary key. Famously many billionaires have lost a part of their fortune to losing the primary key.
How to sell bitcoin in india?
Sales of bitcoin in India can be made through the same platform that was used to purchase the bitcoin. A small charge has to be given by the seller if they decide to sell. The selling price depends on demand and current market conditions. Sales of the coin can be made in parts or completely at once. Some exchange platforms have daily and monthly withdrawal limits. This means the cash from the sales is not available immediately to the trader.
Investment in bitcoin in India is a favorable option if you invest in limited amounts and the risk of its volatility is also reduced. Most importantly, Investing using the right crypto platform is reliable and user-friendly. It’s time you jump on this trend and experience the most modern form of currency.