How to Buy Bitcoin in India — A Comprehensive Guide

India has over 15 million investors and has become one of the fastest growing cryptocurrency markets. Investors are investing part of their wealth into cryptocurrencies to get good returns. One of the most popular cryptocurrencies that attracts most investors is Bitcoin. If you also want to buy Bitcoin in India, check out our comprehensive guide on “How to Invest in Bitcoin in India”.

You can buy Bitcoin in India in four simple steps:

4 Simple Steps to Buy Bitcoin in India

1. Select a cryptocurrency exchange

The first thing you need to do to start investing in Bitcoin is to choose an exchange. Cryptocurrency exchanges act as online marketplaces where buyers and sellers trade cryptocurrencies. There are several exchanges in the market. Users are advised to choose exchanges that are user-friendly, offer lower fees and higher security. If you are confused about which exchange to choose, here are some recommendations:

You can find a list of trusted exchanges here.

After selecting an exchange, click the ‘Sign Up’ button to create an account on the platform.

2. Select payment method

After creating your account, the next step is to fund your account. Various exchanges offer funding options such as bank transfer, net banking, cryptocurrency wallet or UPI. Before choosing a payment gateway, check the transaction fees associated with each payment method.

3. Place an order

After funding your account, you can order Bitcoin. Just click the ‘Buy’ button and enter the amount you want to invest. Once you complete the transaction, your purchased Bitcoin will be transferred to your wallet.

4. Store your purchased Bitcoin

Cryptocurrency exchanges usually offer integrated Bitcoin wallets or recommend trusted partners for safe storage. However, some individuals prefer additional security and choose the offline storage option. If you transfer cryptocurrency from an exchange, you may incur a small withdrawal fee. Additionally, using a third-party wallet custodian carries the risk of permanent loss if you lose the private keys that serve as your wallet password, which could leave some Bitcoin holders inaccessible to their assets.

This is how you can generally buy Bitcoin in India. Overall, the process of buying Bitcoin in India through various exchanges is the same, but the interface, features, fees, payment methods, etc. are slightly different.

Here is a step-by-step guide on how to buy Bitcoin in India through popular exchanges such as Binance, KuCoin, Paxful, Paybis, and crypto.com.

If you choose Binance to buy Bitcoin in India…

Binance is one of the most popular cryptocurrency exchanges with millions of users worldwide. Indian investors can trade cryptocurrencies on Binance using INR. To buy Bitcoin in India, follow the steps below.

Step 1: Sign up for Binance

Creating an account is the first step to buying Bitcoin on Binance. Enter the required details and use a strong password to protect your account. To secure your wallet with the next level of protection, you can enable two-factor authentication (2FA) by clicking the “Security” option in your profile settings.

Step 2: KYC verification

Complete KYC (Know Your Customer) verification by submitting required documents, including a valid ID and utility bill. To begin verification, go to the Profile tab and select the ‘Identity’ option. Submit the required information and documents and click the ‘Confirm’ button.

Now make sure you have submitted the correct details. Once verification is complete, you can start trading.

Step 3: Buy Bitcoin through Binance P2P

Traders around the world can trade cryptocurrencies with each other through Binance P2P (Peer-to-Peer Exchange). To visit the P2P marketplace, go to the Wallets tab and select the P2P option from the drop-down menu.

Step 4: Create Bitcoin Purchase Requirements

Select BTC as your Gur cryptocurrency, click ‘Buy’ and enter the amount you want to invest in INR. Select your preferred payment gateway and click “Show seller ads only.” You will now see a list of verified sellers and their Bitcoin to INR prices.

Step 5: Buy Bitcoin from the seller

Select a seller and click the ‘Buy’ button. Now enter the amount you want to invest. After clicking “Buy BTC” you have 15 minutes to make payment to the seller via your chosen method. After payment, click ‘Transferred, NEXT’.

Step 6: Receive Bitcoin from the seller

The seller will receive a notification to transfer the purchased Bitcoin to your account. Typically, you will receive your Bitcoin from the seller within a few minutes. If you do not receive it within the time limit, you can “appeal” by providing supporting evidence.

This is all you need to buy Bitcoin with INR using your Binance account in India.

If you choose KuCoin to buy Bitcoin in India…

KuCoin is a cryptocurrency exchange that boasts a safe trading environment, low trading fees, and fast withdrawal options.

Here’s how to buy Bitcoin in India using KuCoin Exchange.

1. Create an account on KuCoin

As with all cryptocurrency exchanges, the first step is to create an account on the platform. To do this, you will need to click on the Sign Up button and fill in the required information. Then click the “Next” button and you will receive an email with an activation link attached. Click the link to activate your account. Clicking on that link will redirect you to the KuCoin login page. Now enter your credentials to log in to your account.

2. Protect your KuCoin account

The second step is to secure your account with two-factor authentication (2FA). Go to your account and click ‘Bind 2-Step Verification’.

Scan the barcode on the screen and enter the 6-digit verification code.

Now click the Submit button to complete the two-step verification.

3. Identity verification

The next step is to verify your identity. Here you will be asked to set up some security questions.

After setting up your security questions, “Confirm” your email address. You will receive an email with a link attached.

When you click on that link, you will be redirected to a KuCoin page notifying you that your email has been verified.

The next step is to complete Know Your Customer (KYC). To do this, submit the required details and documents and ensure that the status is marked as ‘Completed’.

Your identity has now been verified.

4. Fund your account

The next step is to fund your account. To do so, go to “Assets” and select Bitcoin. Click ‘Deposit’ right next to ‘Bitcoin’.

Copy your wallet address to deposit. You can check pending and processed deposits in ‘Deposit History’.

5. Start Bitcoin trading

Once your account is funded, you can start trading. Go to “Markets”, select Bitcoin and click “Trade” right next to it.

Now enter the amount you want to invest and click on the “Buy” button. You will receive the purchased Bitcoin in your wallet.

If you choose Paxful to buy Bitcoin in India…

On Paxful, you can buy Bitcoin with as little as $10. It is a P2P platform that connects traders directly without intermediaries. It also offers around 400 payment methods, strong security, safe transactions, and more.

Here’s a step-by-step guide on how to buy Bitcoin in India with Paxful.

1. Sign up for a Paxful account

As with all exchanges, the first thing you need to do here is create an account on the platform. To get started, you’ll need a valid email address, phone number, and ID. When you create an account, you will receive a Bitcoin wallet with two-step authentication.

2. Select a supplier

The next step is to find a supplier to purchase Bitcoin from.

Go to the main menu, click on the “Buy” option and select “Buy Bitcoin.” Now enter the amount you want to invest in INR and select the payment method. Click “Find Offers” to see a list of sellers that meet your criteria.

You will now see the following screen:

Select the offer that suits you and click the “Buy” button to see the details.

4. Start trading

Now enter the amount of Bitcoin you want to buy or the amount you want to invest. Click “Buy Now” to start the transaction. This will open a live chat with the seller where you will receive further instructions.

5. Make payment and receive BTC.

Once all requirements are met and approved by the supplier, make the payment and click ‘Payed’ immediately. The supplier’s Bitcoin is held in escrow, preventing them from accepting your payment without revealing your cryptocurrency. Once the seller confirms receipt of payment, the Bitcoin is released from escrow and transferred to your Paxful wallet.

That’s all you need to do to buy Bitcoin in India with Paxful.

If you choose Paybis to buy Bitcoin in India…

Here is a step-by-step guide on how to buy Bitcoin on Paybis.

1. Create an account at Paybis

To buy Bitcoin in India, you first need to create an account on Paybis. To create an account, only a valid email address and phone number are required. After signing up to the platform, you must complete Know Your Customer (KYC) verification. It only takes a few minutes for the platform to verify your identity.

2. Specify amount

Next, decide how much Bitcoin you want to buy and how much you want to invest. You can enter the amount in BTC or INR.

3. Complete your transaction and receive BTC immediately

Select a payment method offered by Paybis, including Apple Pay, Google Pay, Skrill, and PIX, and complete the transaction. Once you complete the payment, you will receive your bitcoins within minutes.

Crypto.com allows users to conveniently purchase cryptocurrency through two methods:

1. Crypto.com App

2. Crypto.com Pay

To buy cryptocurrency using your Crypto.com DeFi wallet through the Crypto.com app, follow these steps:

1. Tap ‘Purchase’ on the DeFi Wallet home screen.

2. Select “Bitcoin”.

3. Click ‘Connect’ and you will be prompted to link your DeFi wallet and app account.

4. Select Bitcoin as your preferred currency and enter the amount you wish to invest. Now tap “Next”.

5. Review transaction details and confirm your purchase.

6. You will receive the purchased Bitcoin in your wallet. You can check the transaction status in ‘Transaction History’ located at the top right of the ‘Purchase Cryptocurrency’ page.

Frequently Asked Questions (FAQ)