How to Buy Bitcoin in 2020: 8 Key Factors Keep in Mind
Table of Contents
- 1 Buy Bitcoin easily in India with the best price
Buy Bitcoin easily in India with the best price
Buy bitcoin is now the most trending term in India after the Supreme Court allows the bitcoin transactions. If you are thinking to buy it, then it is straightforward to get it. The process of buying bitcoin in India is like creating an account.
After the announcement, the bitcoin value in India increases by nearly 300 percent over a year only. With such a demand, it shows how much demand is there in here. For all that reason, it is now the best source of income, and people are looking forward to it. These cryptocurrencies are nothing but an electronic form of currency.
It is not a common currency and is not owned by any private or government institution.
How to buy Bitcoin?
There are many users who all love to invest in cryptocurrency. But to start with all, you need to know about various ways of it. The purchase of the bitcoins here is secure, and there are many trustworthy apps for it as well. If you are wondering how to buy bitcoin in India, you can get a clear idea.
Here in India, you can find many apps that all are offering you to buy bitcoins. Some of the top apps for you all are here below.
These are the top apps that can offer you the best and secure way to buy it. Apart from that all, many people all want to buy cryptocurrency with their credit card. In such cases, you can visit https://www.bitxmi.com and can buy bitcoin with a credit card.
But before proceeding with these all, KYC is the compulsory part. It needs to verify the ID, and you need to give details about your PAN CARD.
By that way, you can buy the cryptocurrency via online apps.
a) Price of the bitcoin
If you are thinking of investing in the Bitcoins now, then you need to be ready to spend a lot. As per the current price, the 1 Bitcoin is cost around Rs 8 lacks. So, if you are thinking of investing in it, then you need to buy the cryptocurrency by a considerable amount. But the price list of currency keeps on changing each day, and to get the latest price, you may visit BitXmi Exchange for updated information.
b) Is it legal in India now?
Cryptocurrency is the now the trending currency in India. Earlier, the currency is not in demand here, but recent values make it a popular one. But RBI, the regulator of Indian Rupee given statements in which it cautions about the bitcoin. For all these reasons, it is always the best idea for you all to deal with these currencies in a cautious way.
For your information, RBI and other banks have not banned it, but they also don’t make it a legal currency to deal with here as well. (Read here for more information) Yet you all can deal with such things and can easily buy bitcoin in India.
c) Is it safe to buy here?
The users who are all interested in it want to know about it. They all want to know about how to but it. When the bitcoin buy comes then, it includes a lot of things. When you are going to purchase, there are various things you all need to look at.
a) Volatile nature of Bitcoin
The first thing you need to take care of and know about it is a volatile environment. It means that the price of the coins keeps on changing rapidly and in a regular manner. There is always a high risk of dealing with it as the price is unpredictable.
All these things due to the supply and demand cycle for the coins.
To make it easy for you to understand, if more people buy the cryptocurrency, then the price will go down. While people start to sell, then the price will come down drastically. Apart from that, the market presence and actions to affect the cost of the cryptocurrency. So, when you are going to buy bitcoin, then look at the volatile nature.
b) Transparent payment system
The next best thing that you will get in here is the open payment system. It is considered the best one in the world, and it underlies all the top technology in the Block chain. The reason to go for such coins is its transaction process is public. It means that everything is immutable and traceable, and you can gather all information at any point in time.
In case you decide to sell it, it will automatically update in the system, and everyone will get notifications. Moreover, if you look at privacy, then you need to provide a Bitcoin wallet address only. It will help you in sending as well as receiving the BTC quickly.
c) No Anonymous
When you are dealing with BTC, then all your data are stored in the public ledger. In short, it means everyone can keep a watch on your transaction history. Moreover, these data are never deleted, and it stays there for a lifetime.
If you are interested in buying bitcoin India, then you should visit the apps. There are many apps which all will allow you to sell and purchase these BTC. Furthermore, they can give all the other information as well. But the only thing that may not be loved by all is it is not private, and everything is public here.
d) Easy payment option.
If you are in thoughts of how to buy bitcoin, you must know that it can act as the payment method. Yes, it does not mean for investment propose only, and you can easily use it for payment. There are many goods and services where they all accept Bitcoin as the payment method.
Likewise, now you can find mobile wallets for BTC where you can store the BTC and can pay from there as well. It acts like a normal digital payment system, and you can scan QR codes or phone features.
e) Get it easily
For all Indian buyers, you can buy it easily from here. You need to visit the app, and there you can see the buy button. Many apps are scammers, and for that, you need to take extra care for it all. You can quickly get to the top BTC apps, and there you can transact safely without any scammers.
How good is BitXmi?
BITXmi is currently the latest generation trading platform, which is a centralized one. When you use the platform, you can purchase digital money in the legit way. It is one of the most secure digital asset exchanges where you can use your credit and other payment cards for buying.
So, if you all are trying to get the BTC for yourself, you can get all details. Moreover, there are many other questions, and all are answered here. For all the people of India, if you are interested in getting the BTC, then you can take assistance from the mobile apps. There are many apps where you can get all features where you can get to know how to sell or purchase the same.
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.