Remember when Bitcoin got really popular in 2021? Starting its ascent towards $70,000, it suddenly plummeted, dipping below $15,000 as troubles brewed in the realm of cryptocurrencies.
However, in 2023, things started getting better. Bitcoin’s price gradually ascended, resembling a steady climb up a ladder, driven by increasing adoption and acceptance in various industries. However, the ascent gained momentum when innovative investment avenues emerged.
Now, buying Bitcoin in India is super easy, almost like shopping online for clothes! But, just like a roller coaster, Bitcoin’s price goes up and down.
Discover how to buy Bitcoin in India in 2024 and explore intriguing facts about it through this article. Keep in mind, diving into Bitcoin investments can bring thrills, but also some turbulence along the way!
What is Bitcoin?
Before diving in, let’s quickly understand what Bitcoin is.
It functions as a decentralized form of digital currency, immune to the control of banks and governments. Transactions are documented on a transparent and secure public ledger named the blockchain. Bitcoin’s limited supply combined with growing demand enhances its potential for value appreciation.
In 2009, an unidentified individual or group known as Satoshi Nakamoto introduced Bitcoin into existence. The emergence of Bitcoin was groundbreaking as it enabled direct electronic cash transactions between peers, eliminating the necessity for a trusted intermediary. Whether you purchase Bitcoin within India or elsewhere, the transaction is subject to verification through a process called “mining,” which employs computational power.
Characteristics of Bitcoin
Decentralized: No single entity or government controls Bitcoin. The network is maintained by a distributed network of computers around the world.
Secure: Cryptography is employed to secure Bitcoin transactions. This makes it very difficult to counterfeit or double-spend Bitcoins.
Transparent: Every Bitcoin transaction is documented on the public blockchain. This means that anyone can see how many Bitcoins have been created and how they have been transferred.
Pseudonymous: Although Bitcoin transactions are transparent, the individuals conducting them remain anonymous as they are represented solely by their crypto wallet addresses, comprised of lengthy combinations of alphanumeric characters.
How to Buy Bitcoin in India with 5 Simple Steps?
Follow these simple steps to buy BTC tokens in India using United Exchange a widely trusted cryptocurrency exchange. The most convenient way to grab BTC tokens is by depositing INR into your United Exchange wallet.
Step 1: Sign-Up on the United Exchange Platform
Start your BTC buying and selling journey by signing up on the United Exchange platform. If you’re already a member, just log in.
Step 2: Secure your account by verifying your email address
Ensure your account security by verifying your email. Upon signing up on UE, you’ll receive a verification link in your registered email.
Step 3: Complete the KYC process
Choose your country and proceed to complete the KYC process on United Exchange.
Step 4: Add funds to your United Exchange wallet
To add funds, go to your account on the United Exchange app or website. Click on “Deposit” under the “Deposit and Withdraw Instantly” option and then “Deposit INR.”
Step 5: Finally, buy BTC on United Exchange
- You can now easily buy BTC tokens using INR deposits.
- After logging into your United Exchange account, select BTC to INR from the “Market” tab. You can locate price charts, order book information, and an order entry form positioned on the right-hand side of the screen.
- Click the “Purchase” button once you’ve entered the desired amount and confirmed the total amount in INR to be paid.
- Your purchase will be processed according to the price you’ve entered.
- While the order may take a few minutes to complete, once executed, you’ll receive the purchased BTC coins in your UE wallet.
10 Reasons Why You Should Invest in Cryptocurrency like Bitcoin?
Investing in cryptocurrency, particularly Bitcoin, can be a compelling option for many individuals. Here are ten reasons why you should consider investing in cryptocurrency:
- Potential for High Returns: Cryptocurrencies have demonstrated the potential for substantial returns on investment, with Bitcoin being one of the most notable examples. Early adopters have seen significant gains over the years.
- Diversification of Investment Portfolio: Adding cryptocurrency to your investment portfolio can help diversify your holdings, reducing overall risk.
- Decentralization: Cryptocurrencies operate on decentralized networks, meaning they are not controlled by any single entity or government. This decentralization can protect against inflation and government interference.
- Accessibility: Investing in cryptocurrency is accessible to anyone with an internet connection. You don’t need a large amount of capital to get started, and you can buy and sell cryptocurrencies 24/7.
- Growing Acceptance: Digital currencies are gaining traction as more businesses and institutions incorporate them into their payment systems, showcasing a continuous uptick in cryptocurrency adoption.
- Blockchain Technology: Many cryptocurrencies, including Bitcoin, are built on blockchain technology, which offers numerous advantages such as transparency, security, and immutability. Investing in cryptocurrency is also a way to support the development and advancement of blockchain technology.
- Hedge Against Fiat Currency Devaluation: With central banks around the world printing more fiat currency, there is a growing concern about inflation and currency devaluation. Cryptocurrencies like Bitcoin are often seen as a hedge against these risks due to their finite supply and decentralized nature.
- Global Reach: Cryptocurrencies can be sent and received anywhere in the world with an internet connection, bypassing traditional banking systems and their associated fees and delays. This global reach makes cryptocurrencies particularly valuable for cross-border transactions and remittances.
- Innovation and Potential: The cryptocurrency space is constantly evolving, with new projects and innovations emerging regularly. Investing in cryptocurrency allows you to participate in this dynamic ecosystem and potentially benefit from groundbreaking developments.
- Financial Sovereignty: Owning cryptocurrency gives you greater control over your finances. With cryptocurrencies, you are your own bank, meaning you can send, receive, and store your wealth without relying on intermediaries.
While investing in cryptocurrency can offer significant opportunities, it’s essential to conduct thorough research, understand the risks involved, and only invest what you can afford to lose.
Can I Buy Bitcoin for Rs 100?
Absolutely, Yes! With United Exchange, you can buy Bitcoin in India with a minimum of Rs 100. UE, a trusted global cryptocurrency exchange, allows you to buy fractional amounts of Bitcoin with ease. Skip the hassle and explore the world of Bitcoin investment starting from just Rs 100 on United Exchange!
Buy Bitcoin for just INR 100! It’s true!
Investing in the most popular cryptocurrency like Bitcoin can start with as little as INR 100 – a unique feature setting it apart from traditional stocks. There’s no fixed minimum requirement for purchasing bitcoin in India. This flexibility allows investors to purchase small units of Bitcoin if they prefer not to commit to the entire cryptocurrency at once.
How to Choose a Bitcoin Exchange in India?
Before selecting an exchange for Bitcoin investment, ensure:
1. Verify the platform’s legitimacy and the credibility of its team through research.
2. Verify that the exchange presents a user-friendly interface on its website or app for smooth usability.
3. Verify that it facilitates BTC trading pairs to match your investment preferences.
4. Make sure the exchange prioritizes top-notch security measures with frequent updates, steering clear of platforms that lack KYC protocols.
5. Confirm the exchange offers reasonable trading fees for buying crypto in India.
Notably, at United Exchange, we adhere to these criteria, providing a trustworthy platform for your cryptocurrency endeavors in India.
Conclusion : How To Buy Bitcoin (BTC) In India
The allure of Bitcoin beckons! Its growth potential, technological prowess, and worldwide influence make it a magnet for investors in India. While volatility requires prudence, diligent research and informed choices can unlock the potential of this thrilling asset class. Never forget, knowledge empowers. Embark on your Bitcoin journey by embracing the insights shared within this guide. Good luck, and happy investing!
