To buy cryptocurrency in India, you will need to create an account with a cryptocurrency exchange. There are many different exchanges to choose from, but some of the most popular ones in India include:
Once you have created an account with an exchange, you will need to verify your identity. This is usually done by providing a copy of your PAN card and Aadhaar card. Once your identity has been verified, you can deposit funds into your account and start buying cryptocurrency.
There are two main ways to buy cryptocurrency on an exchange:
- Instant buy: This is the simplest way to buy cryptocurrency. You can simply select the cryptocurrency you want to buy and the amount you want to buy, and the exchange will execute your trade at the current market price.
- Limit order: This is a more advanced way to buy cryptocurrency. You can place a limit order to specify the price at which you want to buy the cryptocurrency. If the market price reaches your limit price, your order will be executed.
Once you have bought cryptocurrency, it will be stored in your exchange account. You can then withdraw your cryptocurrency to a personal wallet if you wish.
Step-by-step guide on buying cryptocurrency in India
Here is example of buying crypto in India using a Wazix as an example: :
- Go to the WazirX website and create an account.
- Verify your identity by providing a copy of your PAN card and Aadhaar card.
- Deposit funds into your account using your bank account or UPI.
- Go to the “Buy Crypto” page and select the cryptocurrency you want to buy.
- Enter the amount you want to buy and select the payment method you want to use.
- Review your order and click on “Buy Now.”
- Your order will be executed and the cryptocurrency will be deposited into your WazirX account.
Tips for buying cryptocurrency:
- Do your research before investing in any cryptocurrency.
- Start with a small investment to minimize your risk.
- Use a reputable cryptocurrency exchange.
- Store your cryptocurrency in a secure wallet.
- Be aware of the risks associated with investing in cryptocurrency, such as price volatility and hacking.