How to buy and sell cryptocurrency in India?

In recent months, cryptocurrency has grown in popularity. Because of the global market volatility caused by the Corona epidemic, investors are looking for a better alternative, and bitcoin appears to have piqued their interest.

What is cryptocurrency?

Before we begin the trading process, let us first examine the fundamentals of bitcoin, a new financial opportunity. Tokens are issued by cryptocurrency companies and can be purchased and traded for goods and services purchased online. Cryptocurrencies do not exist in physical form and can only be obtained electronically.

Cryptocurrency is built on the 'Blockchain' technology. Blockchain is a type of decentralised technology that stores information about your transactions in an encrypted format for maximum security. The goal is to prevent duplicates and forgeries of your crypto tokens.

How can you buy and sell cryptocurrency in India?

While some cryptocurrencies, such as Bitcoin, can be purchased with US dollars, others require the purchase of bitcoins or another cryptocurrency, which necessitates the use of a crypto digital wallet. To purchase cryptocurrencies, you will need a "wallet," which is a web-based tool for storing your funds.

What is a Cryptocurrency Exchange and How Does It Work?

A cryptocurrency exchange is an online trading platform that acts as a middleman between cryptocurrency buyers and sellers. These platforms allow cryptocurrency trading in exchange for digital and fiat currencies. These exchanges allow users to deposit money using methods such as direct bank transfer, net banking, or peer-to-peer, and charge a commission or fee for each transaction completed using their services. If you want to learn more about how to buy cryptocurrency in-depth, read How To Buy Cryptocurrency. Opening an account with any of these exchanges is a simple process.

Choosing the Best Cryptocurrency Platform for Trading: Investor's Guide 

Buying bitcoin on any registered and regulated cryptocurrency exchange is a simple process. Because these networks only require your email address to create an account, you can remain completely anonymous.

Step 1: DYOR & find one of the best cryptocurrency trading platforms that suit your requirement.

Step 2: Create an account by registering and providing basic personal and banking information.

Step 3: To conduct transactions on our cryptocurrency wallet, you must generate a 2FA authentication code.

Step 4: Congratulate yourself! You can now start trading cryptocurrencies. Your app will display the prices of all cryptocurrencies that are currently available for trading. You may purchase any cryptocurrency.

List Of 5 Best Indian Cryptocurrency Exchanges in 2022 and Their Benefits

1. CoinDCX: CoinDCX is regarded as one of India's most secure cryptocurrency trading platforms. The total number of registered users exceeds 1.3 billion. This platform offers a diverse range of cryptocurrency-related products and services, including margin trading, futures, and lending options. The CoinDCX mobile app is available for both Android and iOS devices. Allows for margin and futures trading, as well as instant buy and sell features. Charges a lower commission, which decreases as trading volume increases.
2. BuyUcoin: BuyUcoin is India's most secure and best crypto trading exchange, with over 1 million customers purchasing bitcoin and other cryptocurrencies at the lowest possible prices. It provides a variety of features and products that make buying, selling, trading, and storing cryptocurrency in India simple. It also offers 130+ Tokens on the BuyUcoin EZ OTC market, where you can buy and sell your favourite best cryptocurrency trading in India.
3. WazirX: WazirX is one of India's fastest-growing cryptocurrency exchanges, with over 60 lakh registered users. This platform has an easy-to-use interface and is accessible via web, Android, iOS, and Windows apps.
4. Bitbns: Bitbns, which lists nearly 400 cryptocurrencies, allows its users to trade in a wide range of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Binance Coin, and others. The total number of users registered on this platform exceeds 40 lakh. To store funds, the user can select a standard e-wallet or order a Bitbns hardware wallet. Offers bitcoin SIPs and fixed deposit products to boost returns on crypto investments. Instant price alerts are available for orders such as bracket orders, limit orders, and stop-limit orders.
5. Bitstamp India- Store funds safely offline; conduct transactions quickly on a platform with almost no downtime; benefit from low flat-rate trading fees on transactions under 20,000 USD; use well-designed apps for on-the-go trading.

A cryptocurrency exchange is where you can buy or sell them. These are platforms that facilitate the exchange of cryptocurrencies for other assets such as digital and fiat currencies. They are self-contained and function similarly to stock exchanges around the world.