You Can Use Indian Rupee to Buy or Sell Any Crypto in A Few Simple Steps

2021-08-27 02:00:00 · 689 views · 4 min read

 

The reality of our financial institutions has changed since the advent of Bitcoin. Our general outlook and perception about money have changed, we now begin to appreciate the functionality that comes with money. We have to understand that money isn’t money until a certain value is given to it.

 

 

The early birds and optimists who realized this earlier had made a fortune from it. This has however increased the awareness of cryptocurrency in our world, it is now everyone's dream to own some certain amount of Bitcoin, and now that 1 Bitcoin price in India rupee is 34,57,738 the dream becomes inevitable.

 

 

It was reported in a research by a research firm Finder that India is now one of the leading countries with the highest number of cryptocurrency holders, about 30% of the population of youth in India own a digital currency or more.

 

 

With the increasing number of exchanges available in the country, buying Bitcoin in India is now as easy as buying a grocery in a grocery store. For a newbie in the crypto space, we will discuss in this article the easy steps to follow to buy or sell your crypto with your India rupee. However, before diving deep into the topic at hand, let’s quickly say a thing or two about the common ways to buy and sell your digital currencies.

 

 

 

Ways to buy and sell cryptocurrency with the Indian rupee

 

There are three major ways to buy and sell crypto in India with INR as of writing and they include the exchange platforms, the P2P platform, and brokers. Each of these has its unique advantages over the others.

 

 

The exchange platforms were the first to be introduced in India, they show Bitcoin price INR in real-time and they have a medium for users to trade in crypto. They were widely used in the country before the ban issues in 2018 on the use of cryptocurrency which led to the introduction of the P2P platforms.

 

 

The P2P platform is an acronym for the peer-to-peer platform. It gained more popularity because of the ban because it was the only alternative for Indians to trade crypto directly with each other without the financial institution. It is a platform that connects buyers and sellers to make fast, secure, and easy transactions.

 

 

The third method is the exchange brokers. These are people that buy digital currencies in bulk and sell in bits to interested people. A broker decides his rates and Bitcoin price in INR.

 

 

 

Steps to follow when you want to buy or sell crypto with the Indian rupee

 

 As of writing this piece, Bitcoin price in INR is 34,57,736 according to Coinmarketcap.com. Buying crypto can be quite complicated if you don’t have a guide but with the step-by-step process listed below, you will find it very easy. The easiest way to buy or sell crypto in India is through Remitano. 

 

 

To buy Bitcoin in India, follow these simple steps;

 

 

Remitano P2P platform offers escrow services between the selling individual and then buying individual, guaranteeing the transaction goes on smoothly, which means you can buy Bitcoin or sell BTC in India without being defrauded.

 

 

  1. Purchasing BTC on Remitano utilizing P2P is very simple and easy. You will need to register with Remitano and pass the KYC requirements before you can begin to buy bitcoin or sell via P2P.

 

  1. After completing your account registration, log in on Remitano, scroll down and pick a seller from the listed sellers and select "buy".

 

  1. Select the amount of Bitcoin you wish to purchase.

  2. Type in your Bitcoin wallet address.

  3. Select and click on "buy BTC" to start the trade.

  4. Note down the remittance information of the seller from the transaction page.

  5. Log on to your internet banking and make payment to the seller via bank transfer.

 

 

Selling bitcoin on Remitano is also very simple and easy. 

  • To sell Bitcoin, you need to deposit BTC in your Remitano Bitcoin wallet

  • Select a buyer from the available list and wait for the buyer to pay. 

  • Once you confirm receipt of funds from the buyer the Bitcoin will then be released to them.

With these few steps, you can successfully purchase and sell your bitcoin or any other crypto asset. With the rising Bitcoin price INR, you can settle for cheaper coins but most of them aren’t as credible and trustworthy as Bitcoin and other forerunner coins. However, you shouldn’t let Bitcoin price in INR scare you, you can purchase the amount you can afford.

 

 

 

Setting goals in the market

 

Surviving in the crypto market requires some level of dedication and discipline. Buying crypto is the beginning of your journey in the crypto space, it requires you to have a target and know when to hold and when to pick your profit.

 

 

To help yourself with this you need to join groups and forums, get updated on happenings in the crypto space by reading lots of news, and know where to pick your news from because there are lots of news inciting FOMO in people. There are many reliable news platforms and blogs where you can pick your news from.

 

 

More importantly, do your research before investing in anything because it is your money and your financial responsibility and you should be responsible for how you manage it, and always invest the amount you can afford to lose.

 

 

There are many platforms available for buying bitcoin with Indian Rupee. But you have to be careful and conduct adequate research when buying on these platforms because some of them have a history of scams. So, you should choose a platform like Remitano for a seamless and secure way to buy bitcoin in India. In addition, you'll have a secure wallet to keep your bitcoin.

 

 

Remitano has launched its coin called RENEC, just like the Binance coin which is worth over $300. At the moment you can only mine using a Remitano mobile app. You can start mining RENEC today on Remitano.

 

 

Have a wonderful trading experience.

 

 

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