How to invest in Bitcoin in India

Posted on 6th Jun 2017
by Admin


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Bitcoin investment in India is possible only via few popular websites or mobile apps. In last few years price of bitcoin cryptocurrency has increased significantly. Bitcoins are priced in USD, but start traded in multiple currencies. Now many investors in India are interested to invest in this global currency so BCT to INR is getting most interaction in trading.

Even though trading in BCT to INR is not recognized by RBI, SEBI and any other government official body in India, few popular service companies are providing bitcoin to inr service.

What is Bitcoin?

Bitcoin is a virtual currency that was created in 2009. Bitcoins are software generated currency, where transactions are made with no middle men, i.e, no banks! With this there are no transaction fees. Still this currency is not globally accepted, but more merchants are beginning to accept them, You can buy webhosting services, pizza or even manicures. The bitcoins can be transfer from one person to another person without any geographical bounding, in such case it’s getting more popular among people who do trading internationally.

What is BitCoin Wallet?

Bitcoins are stored in a 'Digital Wallet'. Which can be exists either in the cloud or on a user's computer. The wallet is a kind of a virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are owned and controlled by the user itself.

Zebpay - (Mobile App for Bitcoin Trading in India)

Zebpay is one of the most popular bitcoin to INR trading mobile app. The Zebpay bitcoin wallet is one of the indias leading trading/ investment mobile app for bitcoin trading.

How to trade with Zebpay mobile app in India?

Opening account and trading in Bitcoins via Zebpay is very easy, you need to follow below steps to register with zebpay.

  • Download Zebpay app from Android or ISO store.
  • Downlaod Zebpay Android App

    Downlaod Zebpay iOS App

  • After download, you need to verify your mobile number via OTP. After this step you need to create 4 digit pin.
  • Once you are done with pin creation, next step is verification process.


  • Under verification process, you need to verify your email id, Upload PAN Information, Aadhar data, Bank Information and cancelled cheque.
  • After completing your verification process, your status will be “Pending” till Zebpay team verify your details, once approved status of your application change to “Approved”.
  • After approval of account, you can transfer fund in your account via NEFT/RTGS/IMPS. There is no transaction fee when deposit fund in Zebpay Bank account, online banking fee is applicable on withdrawal.
  • After fund transfer, you can start buying and selling bitcoins on current market price. You have option to receive and send BitCoins to other party. For receiving bitcoins you need to create a bitcoin address. Once you have unique bitcoin address, you can share this address to sender for transferring BC in your account.

Zebpay Bitcoin Trading Price is india, how its works -

On Zebpay, Bitcoin price are kind of International prices, but buy/sell prices are depend on Zebpay stock situation so Zebpay never match international price. If they have stock and buyers are not buying, Zebpay cannot increase the sell price as company cannot buy bitcoins till their stock does not clear.

In case of high volatility it’s difficult to get buy and sell price on international standard.

Coinsecure (Web base and Mobile App for Bitcoin Trading in India)

Second Exchange/Application which we want to discuss here is Coinsecure. The Coinsecure also provide trading on BCT to INR. This is web based and Mobile app based trading application.

To start with Coinsecure

  • login to Coinsecure. In first step you need to register on Coinsecure website with email id, password and any reference link. After submitting your request, you get email verification to start KYC process.
  • In KYC process, you need to provide PAN Card, Aadhar Card and bank Information. Once application submitted, process will take few days for verification. After approval users are free to transfer fund via NEFT/RTGS/IMPS.
  • Once funds are available in your Coinsecure account, you are open to buy any amount of bitcoins. You can see your order history, place secure orders 24X7 and cancel pending orders and so on.
  • Other than buying and selling, you can send and receive bitcoins in your digital wallet.

UnoCoin - (Web base and Mobile App for Bitcoin Trading in India)

  • Signup with UnoCoin using your email id and password (Need to choose).After registration you will receive an email from UnoCoins for email verification.
  • After email verification, login to UnoCoin with your email id and password.
  • Click on dashboard, under this you will see pending verification button. Click on verification process.

  • Verification process is 3 step process
    • Personal information – like name, address, bank account number and IFSC code.
    • Uplaod documents – PAN Card, Digital Photo, Addhar card front and back copy.
    • Verify your information and submit application.
  • After submitting your application, status of application will be in pending state. Once UnoCoin team will review your application and approve or reject application.
  • After approval you are open to start initiate fund transfer via NEFT/RTGS/IMPS.
  • Once funds are available in your UnoCoin account, you are open to buy any amount of bitcoins. You can see your order history, place secure orders 24X7 and cancel pending orders and so on.
  • Other than buying and selling, you can send and receive bitcoins in your digital wallet.
  • Over the Counter (OTC) process is also available where you UnoCoin team will call you to place order on your behalf. Order will be executed only when you confirm over the phone. For OTC transaction there is no transaction fee or service tax collected.

Conclusion

Bitcoins in India is still not getting enough attraction. The exporters or importers might start using Bitcoins for specific types of transactions if they become acceptable in the target countries they do business with. But widespread usage by citizens (B2C) for day-to-day transaction is unlikely. In Summary still using Bitcoins as kind of currency will take few more years but people started using it as an Investment platform.

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  2017-06-06T21:44:29+00:00

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