Bitcoin in India is gaining momentum & unlike the old days, it’s now legal to buy & sell Bitcoin in India. However, there is only a handful quality sites where you can buy & sell Bitcoin.
Here I’m listing down those Indian Bitcoin exchange websites that you can use to buy and sell Bitcoin. I have listed these websites based on their popularity & ease of use. One thing that I have noticed with almost all of the Indian Bitcoin exchange websites is their pricing differs in real time. So I would suggest that you don’t put all of your eggs in one basket. Instead, purchase Bitcoin from different places.
Here is the latest updated list:
For International users, here are some of the best sites to buy Bitcoins Instantly
- CEX.io: Using your Debit/Credit card
- Changelly: You can buy Bitcoin & few other coins instantly. Highly recommended.
- Binance: This is what I use to exchange Bitcoin for another cryptocurrency. Currently most popular cryptocurrency exchange in the world.
With this, let’s get started & look at all of the popular Indian Bitcoin exchange websites.
List of Popular Websites For Indians to Purchase Bitcoins:
Wazirx is based out of Mumbai which let you buy Bitcoin using UPI payment or IMPS. They also offer a full-fledged mobile app for Android and iOS which makes it easier for you to purchase crypto from your mobile phone. Apart from Bitcoin, this exchange supports other popular cryptocurrencies such as Ethereum, Litecoin, XRP to name a few.
Here is how you can buy Bitcoin in India:
- Head over to WazirX and create an account
- Complete KYC and add your bank details from which you want to deposit funds
- Click on funds > Select Deposit in front of INR
On the next page, select the option which is available for a deposit.
Ex: WazirX P2P
On the next page, enter the INR which you wish to deposit. Don’t get confused with USDT, as it’s a discussion for some other day.
Click on Place buy order and WazirX P2P engine will start matching the peer for you. It may take 1-10 minutes to find a match. Once the peer is found, you will get the option to deposit the funds. It could be IMPS, UPI or even PayTM.
For example, in the below screenshot you could see that my deposit request of INR 7145 is broken down into two parts and one of them do allow payment via PayTM and UPI.
Once you make the payment and peer confirms it, your funds will be available into your WazirX account. Wazirx works as an escrow service and in case of any issue, their support team will help you.
Once you have the funds, you can use it to buy Bitcoins.
Localbitcoins is best place for Indian users to buy Bitcoins in India using various payment methods. Here you can find a seller who wishes to sell Bitcoin using different payment modes. In the below screenshot you can see the various options available for an Indian to buy Bitcoin.
LocalBitcoins is also popular for those who are looking to buy Bitcoin using PayPal. From a security perspective, they have added a 2-factor authentication & another level of authentication is activated when you log in from a new device.
The price to buy Bitcoin is same as other Indian crypto exchanges. If you are looking to sell Bitcoins in India at a higher price, this is a great choice for you.
BitBNS is another popular Indian crypto exchange that utilizes the P2P model for Bitcoin buy/sell. It works as an escrow service to ensure your funds are safe when transacting in the P2P model. Both WazirX and BitBNS are currently the two most popular services for Indians to buy and sell Bitcoins.
Unocoin is the first website that I recommend you to get started with if you have never purchased Bitcoin before.
Getting started with Unocoin is easy & their interface is beginner friendly. What I like about them is the plethora of features they already have & features they are consistently adding. If you are someone who wants to invest in Bitcoin as a SIP, you can do that with Unocoin.
You can set a daily, weekly, or monthly budget for purchasing Bitcoin.
This is what Unocoin has to say about their SIP feature:
“Systematic Investment Plan is a new and exciting way to acquire Bitcoin – the first of its kind that is introduced by Unocoin. This is a more conservative approach to investing in bitcoin than spending all your money on Bitcoin at once. This technique allows you to commit to a fixed INR amount on Bitcoin on a regular schedule regardless of the price. You need to fund your INR wallet and schedule the orders below to start with SIP. This feature helps with financial discipline by averaging out your cost and thereby reducing risk resulting in generating better returns.”
At the time of writing, one can invest a maximum of up to 50K at once either in a daily, weekly, or monthly schedule.
Other features that make Unocoin a favorite choice for Bitcoin exchange are:
- OTC Trading (Over the counter trading)
- Auto sells Bitcoin
- Netki: This lets you create a human-readable address for your Bitcoin wallet.
- API: Unocoin provides a simple and powerful API to integrate Bitcoin payments into your business or application.
- 2-step authentication to keep your account secure.
Unocoin also has a mobile app (Android & iOS) which will help you make Bitcoin transactions from your mobile phone.
Unlike all the other websites listed here, this works in a different way. Here you can trade your Amazon gift card in exchange for Bitcoin. Once you have the Bitcoin, you can transfer it to your Unocoin wallet & convert it into INR. This is a smart way to trade your Amazon gift card for Bitcoin.
I have already shared the complete tutorial about Purse earlier & if you have missed reading it, you can read it here.
Well, these are the most popular Bitcoin Websites & Bitcoin exchanges in India that you can use to buy & sell Bitcoin.
I like Coinome for instant purchase and great service. You can choose any of the listed websites based on your preferences. I will keep updating the list as I discover quality websites to buy & sell Bitcoin.
Here is a list of websites from China, U.S.A & other countries that support Bitcoin purchase for Indian residents:
- Changelly: I tested purchasing Bitcoins with ICICI Prepaid Visa travel card & it worked.
- Cex.io: You can buy using credit/debit card.
If you find this list useful, do share it with your friends on Facebook & Twitter. If you know of any other Indian Bitcoin websites that should be on the list, let me know in the comment section below.
Note: This article was originally published on Coinsutra over here. It has been republished as knowing & having Bitcoin in your possession is an investment worth making.