Every day that passes the most influential cryptocurrency in the world; bitcoin is becoming a highly valued asset to invest and obtain profits, either in the short, medium or long term.
Situation, which has increased during the last quarter of 2020 and early 2021, an example of this is that only during the month of December the price of bitcoin on a global scale increased by 66.78%.
According to Cointelegraph:
“Bitcoin (BTC) rose from an intraday low of $17,573.29 on December 11 to an intraday high of $29,310.19 on December 31”.
All this means that every day that passes, many more new investors join the cryptocurrency created by Satoshi Nakamoto.
India does not escape this situation, in fact, it is one of the countries that has experienced a greater increase in the number of bitcoin investments during 2020 and the beginning of 2021. All this thanks to the fact that the Supreme Court of Justice of India temporarily lifted the ban imposed by the Reserve Bank of this country.
A measure that consisted of prohibiting all types of operations by national banks with companies in the crypto market known as Exchange, in all its forms.
This situation, coupled with the fact that 2020 has been a good year for bitcoin, has led to a further increase in the number of investors in the Asian giant.
So how to invest bitcoin in India?
If you live in India, the first thing you should do is analyze yourself and find out what type of investor you are or can become.
Ask yourself questions like:
- Do I have international accounts in strong currencies such as USD and EUR?
- Do I have enough knowledge to be able to use professional traditional cryptocurrency exchanges?
If you answered affirmatively to the previous questions, you have different ways to invest in bitcoin in India, that is, through different forms of Exchanges.
Its interface is often easy to use, but you should be aware that the value of bitcoin and other cryptocurrencies is subject to broker prices (not global market prices), this fact can be both negative and positive, but in general it is positive since all the traders of a specific Broker make massive key financial movements to protect or obtain profits. Also, Indian bitcoin investor users are often only able to buy bitcoin India in this modality through strong Fiat currencies such as USD and EUR. An example of a Broker is Coinbase.
Traditional Cryptocurrency Exchanges:
In this type of Exchange, your investment will be subject to the official prices of the global market in cryptocurrencies. Many of these exchanges such as Binance allow the purchase and investment of bitcoin through the solid international fiat currency such as: EUR, USD, AUD, among others.
However, it should be noted that many of the traditional exchanges do not allow buying bitcoin in India through the international fiat currency, in these cases it is convenient to use the P2P Exchange modality as shopping gateways that lead us through subsequent withdrawals to the Traditional exchanges. An excellent example of Exchange P2P is Remitano.com, reliable, safe and that will allow you to invest bitcoin in India so that you can even trade it later on a traditional professional Exchange.
But if I don’t have international accounts in foreign currency, how do I invest bitcoin in India?
In this case the best way is to invest bitcoin through the Indian fiat currency, that is, the INR in a P2P exchange like Remitano, through the following link you can buy bitcoin today: http://remitano.com/btc/in.
At this point, it should be noted that before the lifting of the ban on cryptocurrency trading in India through national private banking, P2P exchanges such as Remitano allowed the purchase of bitcoin in India since they function as intermediaries for the trade of person to person through a security deposit that stimulates trust between the parties.
After the lifting of this Law, local bank accounts for fiat currency in India are being directly associated with Exchange P2P as direct payment mechanisms to invest bitcoin in India, which means that today it is even safer and easier to buy bitcoin in India through the P2P Exchange mode.
Step by step of how to invest bitcoin in India
- Go to one of the best P2P exchange in India and sign up. For example, Remitano is one of the most reliable, safe and with the best withdrawal rates.
- After registering and completing the quick KYC process, you are ready to invest bitcoin in India, you just have to go to the bitcoin purchase in India section through the following link: http://remitano.com/btc/in.
- Once you are in the purchase section, the system will automatically guide you to the best purchase option for you, in a preview you will see details such as: payment method in each of the bitcoin sellers’ ads in local currency fiat INR, type of bank, amount, etc
- Choose your best purchase option, click on the buy button, at that moment the purchase order will open and next to it a chat window with which you will have direct and private communication with the bitcoin seller.
- Within the chat window mentioned above, you must indicate to the seller that he will proceed to make the deposit in local currency fiat INR, according to the data stipulated in the sale announcement and according to the amount agreed in the purchase order.
- You will then make the deposit to the bitcoin seller in local currency fiat INR taking into consideration: agreed amount and bank identity.
- Once you have made the deposit or transfer in the local fiat currency, you must save the receipt, which you will later send to the seller in PDF format in the private chat window that you have open with the seller.
- Once the seller of bitcoin, receives the invoice in PDF, and confirms the deposit in your bank account, this will proceed to release the bitcoin and that’s it, you already have your bitcoin buy and investment through the currency fiat INR for the first time.
- With the bitcoins in your wallet you will be able to do whatever you want, keep them in your Exchange P2P wallet, or send them in the form of a withdrawal to a traditional professional Exchange to trade by a number of cryptocurrencies, known as altcoins.
For more details on how to invest bitcoin in a P2P Exchange, see the following guide: https://support.remitano.com/en/articles/3352072-how-to-sell-bitcoin-ethereum.
The easiest way to buy in bitcoin in India, that is much better suited to people who have low resources, and start out as retailers investors, is to do it through the P2P Exchange modality, since once you make the payment from INR to the seller, you are formally investing in bitcoin in India, after this and once you have bitcoins (or fractions of bitcoins) in your wallet a universe of opportunities and profit possibilities await you.