Bitcoin is the most used cryptocurrency in the world. The Bitcoin transactions are faster and safer compared to the cash transactions. Apart from using bitcoins to pay for the products & services, the bitcoins can be sold for Indian Rupee(INR) and bitcoins can be bought using the INR. Since bitcoin transactions are irreversible, the bitcoin users must be careful when they buy, sell and trade bitcoins.
Here are the details of the sites/apps to buy and sell bitcoins online in India. These bitcoin trading marketplaces are very reliable, trusted and profitable, as they pay the highest conversion rates as possible.
Things to remember while selling & buying bitcoins online in India:
- The bitcoin price is highly volatile. The bitcoin users must properly analyze the bitcoin price before trading bitcoins in order to avoid loss.
- Bitcoin users can make some profit in the simplest way by trading bitcoins. Buy bitcoins and sell it when the price of the bitcoin rises. Bitcoin users must be patience in order to make the profit.
- Few bitcoin trading sites sell gift vouchers on discount price for bitcoins. Also, they have features to pay phone bills, electricity bills, internet bills, recharge the mobile phone, DTH, book travel tickets, movie tickets, etc. using the bitcoins.
- The buy price of bitcoin will be higher when compared to the selling price.
- To sell and buy bitcoins in India, the bitcoin trader must have a PAN card and a bank account. The account holder’s name on the bank account should match the name on the PAN card.
- Few sites do not require the PAN card to buy and sell bitcoins. Such sites allow the users to buy & sell bitcoins directly to the third party bitcoin traders on the escrow method.
- Major sites are yet to introduce the options to buy bitcoin with a credit card (few sites accept credit card to buy bitcoins) because this method is unsafe, costly and many users might misuse INR by purchasing bitcoins using credit cards of others. To stop such illegal actions and to make the transactions safer, the bitcoin trading sites and the Indian government never allow the users to buy bitcoin with debit cards or credit cards.
- Also, buying bitcoins using PayPal is safe, but it is costly compared to the other methods.
- Genuine Bitcoin selling site in India only allows bitcoin users to make transactions using the verified bank account(s).
Best sites to buy and sell bitcoins online in India:
- LocalBitcoins is one of the largest Bitcoin trading sites in the world used by millions of users from over 250 countries.
- LocalBitcoins has Bitcoins traders work on several major currencies like USD, GBP, EUR, AUD, CAD etc, including Indian Rupee INR.
- To buy and sell Bitcoin on Localbitcoins, the user doesn’t need a PAN card or verified bank account details. So, if you’re the one looking to do bitcoin trading in private, Localbitcoins is the right site for you.
- The LocalBitcoins trades are processed by the escrow method. To buy bitcoin, the buyer must choose an offer from the list of traders. Then the buyer must make the payment to the seller as per the terms. During this process, the amount of bitcoin sold by the seller will be reserved from the seller’s LocalBitcoins wallet. When the money is received by the seller, he/she will release the bitcoin to the buyer’s LocalBitcoins wallet.
- Similarly, while selling the bitcoins, it will be reserved in the in your LocalBitcoin wallet. After the buyer sends money to your bank account or another payment source, you must release the bitcoin to the buyer’s account.
- Selling bitcoin through LocalBitcoins is very easy and the most important thing is your transactions are private and protected from third party notice, including the Indian Government.
- The offers by LocalBitcoin traders might vary. Inexperienced bitcoin users might sell bitcoin for the low price and buy bitcoin for the higher price than the market price. If you’re an inexperienced bitcoin trader, I recommend you to use any one of these mentioned below. If you would like to learn more about bitcoins – click here.
- As a LocalBitcoins user, you can trade bitcoins to make profits.
- Now Indian government charges 1% TDS for Bitcoin transactions. If you’re using Local Bitcoin you can prevent to a certain extent since you are going to trade with third parties and registered Bitcoin trading companies.
- Zebpay is the best bitcoin wallet app in India to buy, sell, trade bitcoins using Android phones, iPhones, and other platform users.
- Zebpay now supports hundreds of cryptocurrencies like Ethereum, Bitcoin Cash, Dogecoin, and Litecoin.
- By making bitcoin selling and buying possible on the smartphones, the Zebpay wallet app is one reason for the hike in the number of the Bitcoin users.
- Zebpay app is users friendly, safe and trusted to buy and sell bitcoins online in India.
- Zebpay bitcoin price is updated often according to the market price to ensure that its users get the best profitable amount when they buy and sell bitcoins online in India.
- Apart from buying and selling bitcoins through the Zebpay app, the Zebpay users can use bitcoin to buy gift vouchers of Amazon.in, get Flipkart gift cards, Domino, Pizza Hut, Uber and more.
- Also, they can use the Bitcoin to recharge their mobile phones, DTH, data card and pay electricity bills, phone bills, internet bills, etc.
- Zebpay allows its users to buy & sell Bitcoin only after the phone number, KYC, and bank account verification. This makes it one of the safest Bitcoin trading sites in India.
- Zebpay users cannot use the bank account of other account holders to buy and sell Bitcoin. This is done to ensure that no illegal transaction goes on.
- Zebpay users can deposit the INR in the Zebpay Rs account and buy bitcoins when they find the best rates. Similarly, with the Bitcoins, they can store Bitcoin in the Zebpay bitcoin wallet and sell bitcoins at a second when the bitcoin price rises. After selling the bitcoin, they will deposit the INR in the Rs account, which can be withdrawn into the verified bank account within one day.
- Zebpay referral program helps its users to earn the commission when they refer their friends to Zebpay.
- Unocoin is one of the best profitable sites to buy and sell bitcoins online in India.
- Similar to the Zebpay bitcoin wallet, to buy and sell Bitcoin, the Unocoin team must verify and approve the user account.
- The user must submit the ID proof, PAN card, and a photo to get the account approved. Once approved, the account holder can buy and sell bitcoins on Unocoin.
- Since Unocoin takes extra effort while accepting new customers, the Unocoin users can trade bitcoin with no worries.
- The best thing about Unocoin is that the verified users can buy bitcoins using INR wallets such as PayU money, Mobikwik, etc.
- There is no limit on the number of bitcoins a user can send/receive to the bitcoin wallet. However, a user can buy/sell only 10 BTC/day.
- Unocoin will upgrade the account of users to the premium golden member who uses the Unocoin wallet often to sell and buy bitcoins. The benefits of golden membership are fewer transaction fees and high trading limits.
- Apart from buying and selling bitcoins, the Unocoin users can top up Book my show wallet, Mobikwik wallet, recharge their mobile phone, DTH, pay bills, etc.
- Unlike Zebpay, the Unocoin users can trade bitcoin on both their website and mobile app.
- The Unocoin has features to convert Amazon credits to bitcoin and then to Indian Rupee. This will be very useful for the Amazon affiliates and mTurk users in India.