Introduction
Since 2009 Bitcoin has experienced remarkable growth, precisely between October 2013 to June 2021 its value increased by 30,000% which makes it look unstoppable. As we advanced, this popular cryptocurrency hit a $ 20,000 high in 2017 but immediately its growth rate declined to half of that until 2020. As a result, it becomes essential to keep a closer watch on the Bitcoin market trend which can be quickly done through www.dcryptonews.com .So, now let’s find out how to buy/sell Bitcoin in India.
Choose a Crypto Exchange
To buy Bitcoin or any other cryptocurrency, the first step is to choose the right crypto exchange. There are several exchanges to trade cryptocurrencies but for beginners, it is always better to go ahead with the choice that offers ease of use along with low fees and high security. The popular crypto exchanges in India are Unocoin, Zebpay, CoinDCX, WazirX, etc which are considered good for beginners.
Decide the Payment Option
After choosing the crypto exchange the next important step is to begin investing in Bitcoin. Every exchange supports a different payment structure through which the account can be funded this includes bank transfers, net banking, a cryptocurrency wallet, UPI, and MObikwik. Generally, platforms also charge transaction fees for some transactions which vary for each exchange. Thus, it is important to conduct a comparative study between all the crypto exchanges.
Place the Order
After the account is funded then users can go ahead and place their order to buy Bitcoin. Generally, the platform provides clear navigation that which options users need to click to proceed with payment. Some platforms may require users to enter Bitcoin’s ticker symbol (BTC) to input the amount for ordering Bitcoin. After the transaction is done, the users now receive the portion of a Bitcoin.
Select the Safe Storage Alternatives
The crypto exchanges usually have an integrated Bitcoin wallet or a preferred partner to facilitate the safe storage of Bitcoin. Most of the crypto exchanges prefer cold storage for the customers to ensure high security, but while moving funds out of these wallets some charges might be applicable. However, keeping the funds in the hot wallet might come with some risks such as users losing access to the wallet if the private key is lost and thus funds in turn. Thus, choose your wallets wisely assuming what suits your needs the best.
Is Selling Bitcoin Same As Buying It?
If anytime selling Bitcoin is in your mind then the process is almost the same. Login to the exchange portal with all the necessary credentials and click on the sell option. Most exchanges offer types of sell orders which are simple to understand as they are clearly explained there themselves. These could be manual or automated selling of Bitcoin based on the users’ preference selected earlier. Furthermore, users can also choose what portion of holding they wish to sell and can specify that in terms of amount. After the formalities from the users’ end are done, the exchange might have some holding period to process the transactions and transfer back the funds to the bank account.
Thus, Crypto exchanges have certainly made the trading process for digital assets extremely secure and seamless.
