Can You Buy Bitcoin, Litecoin, and Ethereum in India – Read to Know
Bitcoin has become the users’ favorite lately. Gone are the days when buying Bitcoin was super difficult for Indians. It got even worse after the Reserve Bank of India imposed restrictions on virtual currency trading in 2018. This virtual currency is managed electronically. You can exchange your fiat currency for Bitcoin online.
All you need to do is find a reliable and secure trading app. Ever since the Supreme Court lifted the restrictions from cryptocurrency transactions in India, Indians started to invest in these virtual currencies to improve their investment portfolio. The process of buying Bitcoins in India is quite simple. All you got to do is choose the best cryptocurrency exchange platform, set up an account, and start trading. In this post, we will walk you through a detailed explanation of the Bitcoin trading process in India.
Buy Bitcoin in India
The price of the cryptocurrencies keeps changing every now and then. The minimum amount you need to start your investment is INR 500. If you choose CoinSwitch, ZebPay, and other reliable crypto trading app, you will get an opportunity to get real-time updates around the latest crypto prices. For example, CoinSwitch Kuber supports more than 100 cryptocurrencies. The platform is designed to make virtual currency trading easier for users.
You need to download the Bitcoin wallet where your cryptocurrencies will be stored. These wallets will hold your virtual currencies. You must submit the address details as well as the PAN card to create an account on the cryptocurrency exchange platform. The company will take a few days to verify the account details.
You might also be asked to submit other personal documents, such as an Aadhar card and a driving license for ID verification. If you choose the CoinSwitch Kuber app for crypto trading, then rest assured that the verification process will be super smooth and simple. In fact, the verification takes no longer than a few minutes. Note that the returns you generate from cryptocurrency investments are taxable. That means you are supposed to pay taxes on the amount you obtain from crypto trading.
Which is the Best Cryptocurrency Exchange Platform for Bitcoin Trading in India?
As mentioned above, you get countless options when it comes to cryptocurrency exchanges. CoinSwitch is one of the leading platforms for all kinds of virtual transactions. There is no denying this crypto exchange platform is gaining immense popularity lately. With more than 100 crypto coins and 45,000 trading pairs available, CoinSwitch Kuber has grown to become the users’ favorite option. The registration process is quite simple. You can submit the basic personal and financial details to register an account on CoinSwitch. The company has launched its official mobile app for Android and iOS users. You could download the app, register an account, and start trading. From INR to ETH to Bitcoin to INR, CoinSwitch allows you to trade different pairs of cryptocurrencies with the fiat currency. Find the latest prices and value of the crypto coins and get started with virtual currency trading.
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