Hello guys, how are you all doing today? Today, I am going to answer to one of the most asked questions in our blog and Instagram page about how to buy/sell/trade Bitcoin, Ripple, Litecoin, Ethereum, or any other crypto currencies in India using Net Banking, UPI or Debit Card.
Investing in Bitcoin has really become a trend in India these days since the price of Bitcoin shot from $100 to $35,000+. Analysts are saying it will be breaking all time high any time soon and experts predicted it could go as high as $100,000 that is more than Rs 70 lac in India. Woahhh!! 45,000% more return than Infosys, TCS, Wipro, Hindustan Unilever, ITC Ltd, Reliance Industries, Nestle India and Britannia combined.
Did you know?
Investing only Rs 100 in Bitcoin in 2010 would become Rs 50.9 Crore Today? See for yourself how much returns did other assets offered in the past 10 years –
Let me show you how to buy/sell/trade Bitcoins in India step by step and if you still have any queries then please comment down below and I will personally resolve the issues for you.
Before you get started, you will be required to have the following stuffs –
- A Valid Email ID.
- A Valid Phone Number.
- Adhaar Card
- PAN Card
- A picture of you holding the Adhaar card.
- A Valid Bank Account.
I will assume you already have the above materials since you are also required those things when you open a Demat account in Upstox, Zerodha or any other brokerage firm in India for KYC.
Step by Step Guide to Buy/Sell/Trade Bitcoin or any Other Crypto Currencies in India –
Step 1. First, Sign up at WazirX.com ( <- Use this link to open an account for absolutely free of cost for lifetime, very limited time offer,)
Note: If you download the Android App then the Referral code is ‘ta2ky2j8‘ (Use it when you sign up)
WazirX is the India’s Number #1 & most trusted platform to buy/sell/trade bitcoin or other coins. It offers instant deposit and instant withdrawal with instant account activation with KYC. No down time at all.
Step 2. On the next page, you will be asked to enter the email and password that you wish to use in order to login to WazirX platform.
Step 3. You will get a confirmation email in order to continue with the sign up process.
Step 4. Enter the phone number and get through the OTP process.
Step 5. Now, you will be asked to enter your Adhaar and PAN number along with theirs pictures as well as a picture of you holding the Adhaar Card like the following –
Step 6. Finish the KYC process and your account should be instantly activated and will be ready to buy/sell/trade.
Step 7. If you are using the desktop version of WazirX then you will see the Crypto Market screen, just like you see in Upstox or Zerodha.
Step 8. Now, first you will have to add bank account from which you will be adding the funds in order to buy Bitcoin or any other crypto currencies. For that, just click on the little man icon on the top right corner followed by “Account Settings” like this –
Step 9. Next, click on the “Payment Options” and add the Bank account details here. If all the details are correctly entered then you will immediately receive Rs 1 in your bank account and your bank account will be validated by WazirX. (You can also add your UPI details here as well)
Step 10. Congrats, your account is finally ready to buy/sell/trade Bitcoins or any other coin you wish. Now, you just need to add some funds from the bank account or UPI address that you have added already. For that, click on the “Funds” option and click on “Deposit” to add some money in your WazirX account.
Step 11. You can either use the net banking of UPI apps like Google Pay/PhonePe/PayTM etc. to add funds. I will be choosing the UPI option as it is easier for me.
Step 12. Next, enter the amount that you wish to add and hit continue. I am adding only Rs 500 as a demo.
Step 13. Now, enter the UPI address of your Google Pay/PhonePe/PayTM etc and click on “Verify & Pay”.
Step 14. Now, you will have 5 minutes to complete the transaction or you will have to re do this process again. If you have paid via UPI before then you are already familiar with this step.
Step 15. As soon you have completed the payment, your deposit will be completed and the amount will be added to your Wazirx Account instantly. Here’s how it will look –
Step 16. Now, you can click on “Buy BTC” directly from that page or go to the homepage of WazirX.
Step 17. You are ready rock now. At the market place page you will be able to see the current price of BTC as well as the buying and selling volume, just like you see in Upstox or Zerodha in Indian Stock Market. Here, I will buy 500 Rs worth of Bitcoin which only only 0.003 Bitcoin. (Yes you can buy in fractions) because most of us don’t even have Rs 14 lac to buy 1 BTC. Just kidding.
Step 18. Bravo! Now you have bought you first fair share amount of Bitcoin and you are officially invested in the crypto currency market.
Step 19. You can check the amount of BTC or other coins you own by again clicking on the “Funds” section like this –
You can see all the coins and INR you own in this page along with it’s estimated portfolio value.
Now, tell was it really that hard? Opening an account in the Indian Stock Market is harder. Everything has become so easy and simple. Remember to book your profits and did you know, WazirX allows you to withdraw funds instantly to your Bank account? Just go to your “Funds” section and withdraw all the INR you have in your bank account instantly.
So, this is how you buy/sell/trade Bitcoin and if you have any queries then please comment down below or DM me in our Instagram page @savingseffect.
Thank you for reading.