India is full of possibilities where people with technical skills are always looking for new investment avenues. Even people living in underdeveloped regions occupy themselves by forming self-help groups or committees to support their plans.
The philosophy to save for the future is always there in mind, but what has changed in recent years is people’s mindset regarding assets and liabilities. The on-growing awareness for ways to invest in the online world is a major attraction for every other person to make extra money in their wallets.
Since the first digital currency launch to the BTC wave of the year 2020, the coin has fully satisfied its fans with continuous growing market capitalization. Nevertheless, to mention that investors are considering Bitcoin as their retirement coin. And the best thing is you can buy Bitcoin in fractions, i.e., you don’t have to buy an entire Bitcoin. This eventually means, even if you don’t have the fortune to invest, you can still purchase it.
To put it simply, if you have as low as $1 in your pocket, and you wish to invest BTC, then, unconditionally, you can buy your part of Bitcoin from it.
Let me explain the mechanism of it. Value of 1BTC represents 100,000,000 units. This means Bitcoin is divisible up to eight decimal places. And, exchanges allow you to send, receive, and purchase Bitcoin in a given fraction of the coin.
When one invests $1 in buying BTC, they are purchasing this certain fraction of it. In short, one can trade in smaller units such as milli-Bitcoins and micro-Bitcoins and do not need to buy the entire coin.
Another big thing to mention here is that there is a limited supply of 21 million Bitcoin, out of which 18.5 million have already been mined since 2009 and are now in circulation. So if you are planning to buy Bitcoin, then I must say there is no better time than NOW, as due to its limited supply, the price is not expected to fall anytime soon.
Yet, many Indians are interested in buying bitcoin but do not know the exact way of how and where to start. Here, I’m going to discuss major P2P networks that will help you buy bitcoin in India with the utmost ease.
P2P or peer-to-peer technology is the best way to transact in digital currencies. Here, you make the payment without using any exchange for that sort but receive bitcoin through the exchange. This ensures that the exchange will release BTC once you make the payment.
Platforms where we can Buy Bitcoin through P2P in India
For those who question “legality,” let me put it straight away – IT IS LEGAL TO BUY, SELL AND TRADE CRYPTOCURRENCY IN INDIA using the mentioned platforms. Apart from P2P networks, we have direct trading options also available. These include ZebPay, CoinDCX, etc.; let me know in the comments section if you want an article over these too. So, Let’s begin with discussing these platforms.
Paxful is a well-known name in the crypto-space. It started with a simple mission to control the money you own in a way that you never had before. Undoubtedly the platform is changing the way the world is moving its money. The lucrative majors’ parts of Paxful include choosing over 300 payment methods to buy and sell crypto using debit and credit cards. It is available worldwide, including the USA, Russia, Nigeria, etc.
Peer to peer technology at Paxful ensures that you trade with real people. The free and reliable crypto wallet is easy to use and won’t cost you a penny to store your digital asset. By using Paxful, you can ensure a beginner-friendly interface. Anyone who wants to buy crypto can easily purchase without roaming around the websites and learning about the functionality.
One significant benefit that Paxful offers you is to trade BTC via Goods and Services. Using Paxful, you can also choose to meet people to make payments in cash or via top payment methods like Google Pay, PayPal, etc. Since it is widely available, you can exchange currencies for Bitcoin from INR (Indian Rupees) to USD (United States Dollar) depending upon your needs.
Beyond operating the world’s leading crypto-exchange, Binance spans an entire ecosystem. With over 2.0 billion average daily volume and 24X7 support for the customers, Binance is the fastest globally.
Serving with a mission to provide infrastructure services for the blockchain ecosystem, Binance has partnered with Paxful to provide its users with a lot more functionalities. Known as quick support for forked coins, Binance benefits from buying crypto through debit and credit cards.
Apart from these facilities, Binance supports free Airdrops. This will encourage you to research about the coin and hopefully buy a lot more alike. The all-time customer support and equipping customers with management tools for multiple trading accounts within a single master account is another major convenience offered by Binance.
In membership with Wazirx, Binance also reflects a substantial list of pros in addition to a seamless and powerful trading experience across five platforms, namely, Web, Windows, Mac app, Android, and iOS mobile. This makes it easy to buy, trade, and sell crypto over the platform.
These are the exchanges that support peer-to-peer networks, and you can use them to buy bitcoin in India legally. You can choose to trade depending upon the benefits you want to enjoy.
Trading using these exchanges is entirely legal in India. If you were to seek my advice, I must tell you that they are my equal favorites. You can trade freely through these secured platforms. After all, cryptocurrencies must be accessible to everyone, despite the part of the world they belong to.