There is a majority of people who have this question “How to buy bitcoin in India” impaled in their mind. There are two types of people who come under this sphere.
1. The complete beginners who are new to cryptocurrency and blockchain technology. And are seeking ways to get their hands on bitcoin for the first time.
2. People who want to find alternative ways to buy bitcoin after RBI announced that the banks should stop providing support to websites and exchanges that deal with buying and selling of cryptocurrency. Fast forward to this day. All Indian exchanges and websites dealing with selling and buying of cryptocurrency no longer accept major debit/credit cards as well as wire transfer.
Must read: 4 clarifications on Bitcoin ban in India
With this scenario going on lately, there has been a troubling question in the mind of cryptocurrency enthusiasts on how will they be able to buy and sell cryptocurrency in the future.
Well, I believe you’ve come to the right place. In this article, I will explain you a few ways by which you can buy bitcoin in India easily. And the question “How to buy bitcoin in India” that’s been held in the corner of your brain will no longer hinder you.
Coming to the point, there are three ways through which you will be able to buy bitcoin in India. And you can do it by using your debit/credit card and or wire transfer or through PayPal on non-Indian cryptocurrency websites. Let me lead you through this entire summary.
How to Buy Bitcoin in India
Buy Bitcoin in India using a debit/credit card.
Almost everyone today has a debit/credit card. And specifically in India, the major population has a debit card.
In order to buy bitcoin using a debit/credit card just visit any of the below-mentioned websites and just follow the procedure to buy it.
Cex.io is one of the top websites to buy bitcoin from. It has an amazing interface and easy to use navigation menu which you’ll find very helpful.
In order to buy bitcoin from Cex.io you have to register to their website and carry out certain procedures such as KYC etc. Once you are successfully registered you will instantly be able to buy bitcoins using a debit/credit card.
The benefit of buying bitcoin from Cex.io is that they have a lower service fee compared to other cryptocurrency websites and exchanges.
Coinmama also has a good interface and easy navigation. The procedure to buy bitcoin from this website is the same as Cex.io. You register to it first, complete the KYC and instantly be able to buy bitcoin easily.
The only drawback of this website is that it has no built-in wallet. Meaning you have to add your cryptocurrency wallet to it. So that, when you buy bitcoin you receive it directly to your cryptocurrency wallet.
LocalBitcoins is a p2p website which is one of the best in its kind. This website is used majorly worldwide to buy and sell cryptocurrencies. Basically, this website acts as a portal to connect people to buyers to sellers.
All you’ve got to do is visit this website and search for people selling bitcoins near you. The seller will add the mode of payment in which he or she would like to receive. Once you pay the amount, you will instantly receive the bitcoin.
Bitstamp is growing faster because of its support for a number of countries. Buying cryptocurrency with a debit/credit card using this website is easier for most of the people because of its huge list of countries that it accepts payments from. Just complete the registration and KYC, and be able to buy bitcoin.
How to Buy Bitcoin in India through wire-transfer.
This is not widely used for purchasing cryptocurrency. But if you have any problem dealing with your debit/credit card or if you don’t want to use it. Then wire-transfer is the alternative option for you. But obviously, you’ll need a bank account to carry out the transactions. In this case, you’ll only have to use p2p websites to be able to buy bitcoin.
Websites such as:
Which come under p2p can be used to wire transfer. But the only trouble that you’ll face is finding a seller who accepts wire-transfer.
You’ll sample have to search sellers on this website who accept mode of payment through wire transfer. Once you find the seller, just complete the payment and you’ll receive your bitcoins in your wallet.
How to Buy Bitcoin in India using PayPal.
Paypal is one of the first online payment methods which was introduced to the public and eventually, it became a huge success. Today Paypal is one of the most used platforms for buying anything online. There are a few websites through which you can buy bitcoin or cryptocurrency using Paypal.
If you don’t have a Paypal account then no worries at all. It’s easy to register, all you’ve got to do is create an account on Paypal and link your bank account and you are ready to make purchases.
There are a few exchanges which will allow you to buy bitcoins as well as other cryptocurrency using your PayPal account. The process of buying bitcoins using PayPal is quite simple.
You’ll just need to register yourself for any of the below-mentioned exchanges and complete the KYC. Once done, just enter the number of bitcoins you want to buy and proceed to pay with your PayPal account. It’s that simple, and instantly you’ll receive your bitcoins in your cryptocurrency wallet.
My personal recommendation for you would be to go with a debit/credit card accepted websites or with the exchanges which accept PayPal as a payment option. They are way easier to buy bitcoins and the service fee isn’t much as well.
If not you can use localbitcoins as a secondary option to buy bitcoins through wire-transfer. But the chances of finding a seller who accepts wire-transfer as a mode of payment is a bit low. But, you’ll definitely find one or two sellers who would accept wire-transfer.
I believe I have mentioned all the possible ways on How to buy bitcoin in India. You can choose any of the methods mentioned above and use it to buy bitcoins.