How to buy cryptocurrency in India in 2021
If we talk about 2-3 years ago, then in today's post, people used to think very little about the topic about which I am going to tell you and there are many such people in India who are a blogger or some other kind by which all those were connected to the internet in some way also had no interest in this topic, but today the person who looks at them is asking what is Cryptocurrency?
It is obvious and it is also a matter to ask because in 2021 all that happened in the world of cryptocurrency which no one had even imagined. This digital currency of the Internet world has earned people so much money in a few months, which no one had even imagined, so if we look at this, then it is worth talking about this topic!
So let's start and know what is Cryptocurrency? And some of the topics we are going to cover in this post are:-
- What are the advantages of Cryptocurrency?
- What are the disadvantages of Cryptocurrency?
- How can you buy it easily in India?
What is Cryptocurrency?
The simple answer is – cryptocurrency is your money which is called digital currency. Now hereby digital currency, I mean that your asset which you have bought but in reality, you cannot see it, that currency lying in your wallet is called digital currency or cryptocurrency.
And in another language, that digital currency on which the government has no control or maybe no one has any control, only you have control over all the profit and loss of that currency, the same currency till now is called cryptocurrency.
In India, this currency is also not directly controlled by the government and there is no one in between you and crypto transactions and the transaction of this currency cannot be tracked in any way, so this transaction is the safest. And also called a confidential transaction.
Whenever any person, whenever he hears about cryptocurrency for the first time, he is first told that crypto is the first BITCOIN which is called crypto and to some extent, this is also true. Bitcoin has the most influence in the world of crypto and almost all coin rates run from bitcoin itself.
For your information, let me tell you that bitcoin is not the only coin in its crypto, then some famous coin names like DOGE, ETH, MATIC, WRX, BINANCE are also included and so far 4000 worldwide. There is more than one coin which are bought and sold or in which transactions take place.
Advantages of Cryptocurrency –
- Talking about the benefits, the biggest advantage of this currency is that if you transact properly in this currency, then the chances of fraud with you are absolutely negligible, as told earlier that this transaction is the safest transaction. is called.
- Apart from this, another advantage of this is that it is your digital asset which you can keep safe wherever you want.
And finally, another advantage is that in the way we use any payment gateway, we have a fixed fee which we have to pay and it can be very high but you pay that thing in the same crypto. If so, you have to pay a very less fee.
Disadvantages of Cryptocurrency:-
- Like the two sides of every coin, this is also the case where it has many advantages, on the other hand, it also has its disadvantages, but in crypto, you can not lose unless you yourself are not careless, that is for sure!
- As I told earlier that every transaction in crypto is considered to be the safest but along with being safe there is one aspect that it is so safe that if you send crypto in someone's wallet then there is no chance that you can stop him
- Therefore, before sending crypto to anyone, check again that you are sending crypto to the correct address.
- Any govt does not have the right to cryptocurrency. You and this time everyone knows, so you should assume that if you have suffered a loss due to any kind of negligence in crypto, then there is no one to listen to you, understand that your money has gone.
- Talking about another disadvantage, some people misuse this crypto, meaning that if someone wants to do illegal transactions, then they pay with this crypto so that no one can catch them and they also get the payment.
By now you must have understood its advantages and disadvantages very well and what is a cryptocurrency and how it works and if you also want to invest in crypto, then it is important to know that if you are in India, then what are the avenues you have so that you can also buy your cryptocurrency and how can you get good profit by investing for a long time.
There were not many exchanges to buy Cryptocurrency in India for a few years, but in the last 3-4 years people got curious to know about it, so many crypto exchanges have come from which you can easily buy crypto and I will tell you Let me tell you about the top crypto exchanges in India that you can use.
Buy Cryptocurrency in India:
1. WazirX -
At this time i.e. in 2021, if we talk about any cryptocurrency exchange for India, at this time there is no competition for this crypto exchange, and whoever wants to buy crypto Cryptocurrency in India or to know about crypto, then in the first option they have It is WazirX because here it is easiest to buy any crypto.
WazirX is the largest exchange in India and you can buy your first crypto coin by clicking here and registering on it in just 5 minutes.
Let's know a little about WazirX's platform, how you have to buy your crypto.
- Create your account by clicking on the link given above.
- Now you are ready to invest but now you have to do KYC (Know Your Customer).
- To do KYC, you must have your Pan Card, Aadhar Card, Photo.
- Keep in mind that it should be in your own name only, if you do KYC in someone else's name, then their bank account will be added and all your transactions will go to their account, so it would be better if you use your own account.
- After creating an account, now you can buy crypto, but before that, you have to add your payment method. This will be your bank from which you can send payment and take your income in this bank.
- It would be good that you add your own bank which should be in your name, otherwise, your account will not be verified.
How to buy Cryptocurrency On WazirX :
- To buy Crypto, first you have to add fund to WazirX, Click here to go to your fund section and there you will see the option of INR at the top and click on deposit in front of it.
- Now after this, click on the payment method you see and complete your transaction by filling in the amount you want to add.
- After completing the transaction, your money will be credited to your INR wallet in a while so that we are going to buy our cryptocurrency.
- Now here in the Dashboard of WazirX, you see many coins and tokens, you should click on the token or coin you want to buy, but before that check that INR should be written in the last of that token because our money is now were added in INR.
- If you want to buy currency in USDT, then you have to first convert your money from INR to USDT, if it is not necessary then you can keep it in INR only.
- Now here you see a window of Buy and Sell, that's all the game is, I assume for example that I want to buy WIN, then I will click on WIN here and go to the buy option and fill the amount in INR. I will buy as much as I want and click on place order so that my crypto will be bought.
- Now you can go to the fund by Click here and see how much your money has increased or decreased, which means that you can track your crypto here.
- Or if you want, by clicking here, you can also install WazirX's mobile app in your mobile so that you can trade anywhere and anytime.
- Now if you want to sell your crypto, then go to the same sale option and you can sell as much as you want to sell.
- To take your income in the bank, now you click on the option with the knowledgeable Withdrawal option in the INR option and select the method by which you want to withdraw money and submit it by filling the amount.
- After submitting, an OTP (One Time Password) comes on your mobile number, after filling it, a link will also come on your registered email, verify it, your money comes in your bank account in 10-30 minutes after verifying that you have added.
2. Binance -
After WazirX, now if you want to know which software is used for crypto trading all over the world, then its name is – Binance. And there should be because there is so much quality in it.
As long as people are new, it becomes a little difficult for them to understand how to use Binance because it is a bit complicated software, but once you understand it, I can guarantee that you can use any other software after this. will not use.
Binance is not from India, so you cannot add money directly from your bank in it, but through p2p you can easily add money to it. All the ways to add money to Binance, I will tell you in the next post what is p2p and how it works.
At the moment you understand that it connects to your WazirX and you can easily transfer it by adding money to WazirX that too without any extra charge. This is an absolutely free service.
How to buy Cryptocurrency On Binance :
To create an account on Binance, Click here and use the same email address that you used while creating an account on WazirX, the advantage of this is that you can easily transfer your funds from WazirX to Binance.
After creating an account, you have to do the verification here as well, which you did on WazirX.
After completing the KYC, your account is ready for trading, now you can do it in the same way as you were trading in WazirX.
If you do trading, then according to me, this 2 software will be enough for you to trade in any coin, but apart from this, if you talk about the most popular software, then the name of wallet like Coinswitch Kuber, Trust Wellet, Bitmart is also there. It is taken, but when you learn a little here, then you should not have any problem with the rest of the software.
- DOGE Coin
- Binance Coin
- Lite Coin
In the end, I would just like to say that the market of Cryptocurrency is very risky, if you are new, then do research thoroughly before investing in any coin, otherwise 100% you will lose your money.
The same other thing is also that if you invest money at the right time, then it does not take any time for your profit to double, this is also true.
Therefore, you should invest wisely and if you face any problem, then you can take my help in the comment box or you can go to the contact us page and fill the form and submit it.
I hope you like What is Cryptocurrency? And sure you get great information about How to buy Cryptocurrency in India You must have liked this post of mine, if you liked the information, then please share it with your friends and tell them and stay connected with us for new posts!