How to buy bitcoins in India
Bitcoin is a relatively new and revolutionary form of currency. It is entirely digital and virtual, and it is controlled by no one, since there is no particular issuer of Bitcoin. Since it is a completely electronic currency form, it is called “decentralized digital currency”.
There are several detailed differences between Bitcoins and regular currency, but the two are alike in that both are payment systems with no particular issuer. However, one of the major differences between the regular physical form of currency and this electronic form of currency is the skepticism surrounding its reliability potential.
This skepticism about Bitcoins is reflected in the announcement by the Reserve Bank of India (or RBI) about their policy for this digital currency.
They announced that they have not given any authorization for anyone to operate Bitcoins or any similar virtual currency.
Additionally, they said that anyone who would choose to use these currencies would be doing so at his or her own risk.
The RBI also warned of the financial, legal, operational, and security risks surrounding the usage of virtual currency.
However, many Indians still wish to acquire Bitcoin.
Therefore, here are three simple steps that you can take to get Bitcoin with any of its wallets, including Zebpay, Unocoin, and Coinsecure.
Firstly, you must submit your identification through your PAN (Permanent Account Number) card. This is to ensure safety when trading in Bitcoin.
Secondly, you must make a transaction payment towards a Bitcoin purchase in one of the bank accounts of one of the Bitcoin wallets.
These wallets accept several modes of payment, such as NEFT and IMPS.Lastly, you must complete the Bitcoin buy order or sell order.
Once you have completed this first transaction, you will be able to make further transactions with Bitcoin through one of these digital wallets.
Image by Gordon Johnson from Pixabay (Free for commercial use)
You may also like
Image Reference: https://pixabay.com/fr/vectors/bitcoin-monnaie-num%C3%A9rique-4130299/
Recent Posts
- CURRYiT offers ready-to-cook curry basesCURRYiT offers 17 SKUs, including 10 regional curry bases like Butter Masala.
- Don’t miss crypto income tax filing rulesThe Union Budget 2022 officially classified cryptocurrencies as Virtual Digital Assets.
- This smart A-powered device is fixing Bengaluru’s water woesAgua’s innovation shows how tech-driven solutions can fix deep-rooted urban challenges.
- CURRYiT offers ready-to-cook curry bases
What’s new at WeRIndia.com
News from 700+ sources
-
Crizac IPO: Last day to subscribe
-
Why these dozen stocks will be in focus in todays trade: July 4
-
Trump says will send letters laying out tariff rates
-
Uppu Kapurambu movie review: An interesting idea undone by an overdrawn narrative
-
Daily Islamic prayer times for major US cities on July 4, 2025
-
Morning Brief Podcast: Unseen, Unpaid, Undervalued: The Reality of Womens Work
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply