How to buy Bitcoin in four easy steps?
Step 1 – Choose the Crypto Exchange
Step 2 – Decide the budget
Step 3 – Choose the payment option
Step 4 – Place your order and Buy BTC
Step 1 - Choose the Crypto Exchange
In order to buy, you will have to start by signing up on any of the crypto exchanges. A crypto exchange is where buyers and sellers meet to trade cryptocurrencies. There are a large number of exchanges available that allow you to buy Bitcoin. Some of them are Binance, WazirX, CoinSwitch, etc.
Step 2 - Decide the budget
Once you have set up your account on any one of the crypto exchanges, then comes step two, where you decide on how much you want to invest in buying Bitcoin. Deciding your budget solely depends on your financial situation.
Step 3 - Choose the payment option
Now that the account is set up and you have the budget with you, all you need is to deposit the budget on the crypto exchange by using any available payment method. The most common deposit methods are via PayPal, Debit/Credit Cards, and Internet Banking. Generally, crypto exchanges don’t charge any fees for the same.
Step 4 - Place your order and Buy BTC
Once you have deposited the amount you want to invest into the crypto exchange wallet, you can either directly place an order to buy Bitcoin at the market rate or put a limit order at any of the required rates you wish to buy. Once the trade goes through, BTC will automatically be added to your wallet.
Also read: Bitcoin Pricing Prediction
Popular video guides on buying Bitcoin
Where to buy BITCOIN?
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1. CoinSwitch
CoinSwitch after its establishment in 2017 has scaled up to the top of the list of crypto exchanges in India. It pools the liquidity of Bitcoin from some of the top crypto exchanges globally, and enables the user to trade it at the best rates globally.
Factsheet
| Header 1 | Header 1 |
|---|---|
| Operational Since | June 2017 |
| Deposit Methods | IMPS, Neft, RTGS |
| Deposit Fees | None |
| Cryptos Listed | 170 |
| Trading Fees | 0 - 0.5% |
| Fiat Currencies Supported | USDT, INR |
| Trustworthiness | Safe |
2. WazirX
WazirX is one of India’s leading crypto exchanges. With WazirX you can easily buy BTC using the different deposit methods. In addition to this, on buying Bitcoin through WazirX, it only charges 0.2% as trading fee, which is quite low as compared to others.
Factsheet
| Header 1 | Header 1 |
|---|---|
| Operational Since | March, 2018 |
| Deposit Methods | IMPS, Neft, RTGS, UPI |
| Deposit Fees | None |
| Cryptos Listed | 387 |
| Trading Fees | 0.2% |
| Fiat Currencies Supported | USDT |
| Trustworthiness | Safe |
3. Coinbase
Coinbase is yet another exchange that allows people to buy and sell BTC. It is the most preferred exchange to trade and stake crypto. Having over 108 million users in more than 100 countries, Coinbase is one of the best platforms for beginners due to low trading fees and a super smooth user experience.
| Header 1 | Header 1 |
|---|---|
| Operational Since | June 2012 |
| Deposit Methods | PayPal, Debit/Credit Cards, Wire Transfers, Apple/Google Pay |
| Deposit Fees | None |
| Cryptos Listed | 170 |
| Trading Fees | 1% |
| Fiat Currencies Supported | EUR, USD, GBR |
| Trustworthiness | Safe |
Frequently Asked Questions
Where can you buy Bitcoin with a credit or debit card?
You can buy Bitcoin with a credit or debit card on crypto exchanges like Binance, and CoinSwitch. These exchanges also have very low trading fees as well.
What will you need to buy Bitcoin?
In order to buy Bitcoin, firstly, you will require an account on any one of the crypto exchanges, secondly, the amount should be deposited. Post that you can easily buy bitcoin directly.
What is the easiest way to buy Bitcoin?
The easiest way to buy Bitcoin is by using credit/debit cards or Paypal which allows you to buy bitcoin within a few minutes if you have a functional account on any of the crypto exchanges.
Best wallets to store your Bitcoin (BTC)
The best wallets to store your Bitcoin are Ledger, Coinbase and Exodus. .
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