How To Buy Bitcoin In India 2022: Last Launches in 2009, Bitcoin has experienced meteoric growth: From October 2013 to June 2021, for instance, the value of Bitcoin has been increased by almost 30,000%. And while that growth alone is incredible, some Financial Advisors says, Bitcoin’s value could rise even more as cryptocurrencies and the blockchain technology that power them become more mainstream and integrated into people’s daily lives.
Buying Bitcoin does come with one major buyer beware, though: While it’s experienced immense highs, it’s also fallen to devastating lows.
After Booming an almost $20,000 high in 2017, for example, its value plummeted and rose to no more than about half of that until 2020. Though it’s trended upward since, it remains a very volatile investment, and an ill-timed tweet from Elon Musk can decimate its value. That’s why experts don’t recommend you invest more than a small percentage of your money in Bitcoin.
With all of that said, if you still want to get in on the action, here’s how to buy Bitcoin of your own.
How to Buy Bitcoin in Some Simple step
1 . Select a Crypto Exchange
To buy Bitcoin or any cryptocurrency, you’ll need a crypto exchange where buyers and sellers meet to exchange dollars for coins.
On the internet, There are Number of Exchange out there, as a beginner, you’ll want to opt for one that balances ease of use with low fees and high security base app. for your kind information Be sure to check out our top picks for best crypto exchanges, like Unocoin, WazirX, ZebPay, and CoinDCX.
You can easily transfer your cryptocurrency from one exchange to the other. if you want to transfer your bitcoin from your WazirX wallet to another crypto exchange app, you need to follow the procedure of withdrawing your bitcoins from your WazirX account. Get the deposit address from the crypto exchange you want to transfer your cryptocurrency. Once you have the deposit address ready, you are set to transfer your funds.
2. Take A look on a Payment Option
after Selecting an exchange, you have to fund your account before you can begin investing in Bitcoin. Depending on the exchange, you can fund your account through bank transfers, net banking, Mobikwik, a cryptocurrency wallet or UPI.
For your kind information, some of the exchange’s adding fund paymet option are disabled like, Mobikwik, bank transfers. Soon it will be enabled after the bank setllement between the crypto exchange app and banking payment servces.
Just note down one thing, that crypto exchange is charging higher transaction fees for certain funding options. For example, CoinDCX doesn’t charge a fee if you use UPI and bank transfers. However, it charges 0.5% on net banking and 1% charges above INR 2,000 via Mobikwik wallet. On the other hand, WazirX charges INR 49.7 (including all taxes) via net banking or it requires you to top up your Mobikwik wallet using UPI or bank transfer before transferring the funds. Credit cards are not supported for wallet transfer and charges depend on the getaway you use.
3 . Choose And place a Order
Once you have funded your account, you can simply place your first order to buy bitcoins. Depending on the platform you’re using, you can buy it with the tap of a button, or you may need to enter the ticker symbol (BTC) of bitcoin. Then you have to input the amount you want to invest.
4 . Choose A Safe Storage Option
The crypto exchange you use probably has an integrated Bitcoin wallet or at least a preferred partner where you can safely hold your Bitcoin. Some people, however, do not feel comfortable leaving their crypto connected to the internet, where it may be more easily stolen by hackers.
Today Bitcoin Price In India
What is the Best Way to Invest in Bitcoin? ( For Beginners )
Now that we’ve discussed the question ‘Is Bitcoin a good investment?’, let’s take a look at the investment process. Found below are two of the most popular ways that investors can gain exposure to BTC’s price movements in the market.
Buying Bitcoin 2022
Obviously, the most popular way to get exposure to bitcoin is by buying the cryptocurrency itself. By buying BTC, you will get direct exposure to price movements. To provide an example of this, if you bought BTC for $50,000, and it grew to $100,000 over the course of a year, you would have earned a 100% return on your investment!
Obviously, this can work the other way around, as any price drop after your purchase will result in a loss. However, if you are a speculative investor then buying bitcoin is ideal, as you will have the underlying asset and you can add (or close) your position whenever you want.