Bitcoin is a digital currency and is created electronically. It is stored in the virtual world and it operates a lot like the traditional currency. However, it’s more specific to describe bitcoin as cryptocurrency. Cryptocurrency is a currency that uses cryptography, which makes it very difficult to counterfeit. The terms digital currency, virtual currency, and cryptocurrency are closely related. This article will help you Know about Bitcoin Price, Buy | Sell Bitcoin.
Can I use Bitcoins in India?
Bitcoins became popular in India because of WannaCry, a ransomware that affected thousands of computer systems in different parts of the world. The targets of WannaCry included banks, government institutions, colleges, business firms, and many more. The attackers demanded money to be paid in bitcoins and threatened to delete all the information in the computers they were controlling.
This incident itself paints the name of bitcoins red since bitcoin transactions cannot be practically traced. However, according to the trends Indians have been taking keen interest in bitcoins since December, last year.
How can I buy bitcoins in India?
Here’s a step by step guide that will help you Know about Bitcoin Price, Buy | Sell Bitcoin.
- Choose a reputed bitcoin exchange to buy and store your bitcoins like Unocoin, BuyUCoin, Zebpay, and Coinsecure.
- Select the wallet based on the features they offer and the security.
- Most of these exchanges have apps, so download them on your android or iOS device and create your account.
- Link your bank account to the wallet to purchase bitcoins. Some of the wallets also let you use your credit and debit cards for the purpose.
- Once this step is done, you can buy a whole bitcoin or fractions of it from the exchange and sell them the same way.
How do you buy and sell Bitcoins?
So, now we already know how to buy bitcoins; but selling them is not as easy as buying them. Don’t worry, because we’re here to help you Know about Bitcoin Price, Buy | Sell Bitcoin.
Bitcoins can be sold either online or in person. Both these methods have its own advantages and disadvantages. However, you can choose whatever is more convenient and secure for you.
1. Selling Bitcoin online
Selling bitcoin online is the most common way of selling bitcoin. It can be done in three ways:
- Direct trade with another person who wants to buy your bitcoin. These transactions will be done in the presence of an intermediary for facilitating the connection.
- Trade with an exchange. This is done online where you can sell your bitcoins to an exchange rather than a person.
- Buying things in exchange of bitcoins from peer to peer trading market places.
2. Selling Bitcoin in person
Selling bitcoins in person can be done in different ways as well. If you’re selling them to a family member or a friend, you can simply ask them to create an account in any of the bitcoin wallet apps and then transfer your bitcoin to them in exchange for money.
If you’re selling them to someone you don’t know, the transaction can be done by scanning a QR code on the buyer’s phone and accepting cash directly. Even though bitcoin meet ups aren’t really uncommon, it’s important that you take a friend with you since you will be handling a lot of cash. You need to be alert because you’re dealing with a stranger from the internet.
You can contact the buyers through definitive sites like LocalBitcoins. Sites like these lets users interact with each other related to selling and buying bitcoins. The users can rate each other on this site, providing you a chance to build your credibility among other buyers. Also these sites will help you Know about Bitcoin Price, Buy | Sell Bitcoin.
Once you’re a well-rated seller, you can add premium costs to cover additional charges and the cost of your meet ups. You can fix the bitcoin rate by referring to a prominent bitcoin exchange. Also, there are mobile apps like Zeroblock and BTCreport that will help you calculate the bitcoin prices.
What is the current bitcoin price?
The current bitcoin price in India: 1 bitcoin= 2,70,945.56 Indian Rupee
What is Zebpay Bitcoin?
Zebpay is the first bitcoin wallet to function in India. They started India’s first bitcoin exchange in 2012. Their website updates important news regarding bitcoins and publish online posts and news letters from time to time, that will help the users Know about Bitcoin Price, Buy | Sell Bitcoin.
How do we buy Bitcoin from Zebpay?
You can buy bitcoins from Zebpay in really simple steps.
- You need to download the Zebpay app and create an account.
- Go to buy\ sell and verify your account by clicking and uploading a picture of your PAN card.
- Once your account is verified, transfer money from your account to Zebpay’s account. This amount will be added to your Zebpay Rupees in your account.
- Now you can use this money to buy\ sell bitcoin order.
Bitcoins have been a topic for various controversies in just a few years and that’s why most of us worry about buying bitcoins. But if cryptocurrencies take over traditional currencies, bitcoins and other digital currencies are going to be major assets for their owners.
Even today, bitcoins are not really considered as currencies by many people since they are more of an asset or investment like gold. People who invest in bitcoins expect for its value to raise in the coming years. This is why they believe in investing their money in bitcoins even though a lot of risks are involved in it.
A few of the risks involved in bitcoin buying and selling is that you may get cheated when you’re having a deal with someone unknown and it’s just too risky to go meet a stranger with a lot of cash when you want to buy bitcoins. Also, the conversion of bitcoins back to traditional money is said to be time consuming which will put you into a lot of discomfort.
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