How to Buy Bitcoin in India?
October 24, 2019
Bitcoin is the earliest cryptocurrency, serving as a peer-to-peer network worldwide as an exchange without any centralized authority. It is considered to be convenient and safe as each transaction is converted into a computer encrypted code using blockchain technology. This feature makes the blockchain more or less impossible to crack. You can own Bitcoin either by mining or you will have to buy it as an exchange medium.
How to buy Bitcoin in India?
India, one of the leading global markets for the entire world, hard to be ignored. Country’s massive taxation policies over its citizens like GST(Goods and Services Tax) make people curiously wandering around and search for the right kind of investment measures that are safe and reliable. So, what can be the right time for cryptocurrencies like Bitcoin? BTC is already emerging as a sign of trust and prosperity where millions of users are enduring profits and are secure.
There are many platforms that offer to buy Bitcoin in India. Atomic Wallet is one of the options. The latest operating software wallet allows users to hold, manage, exchange, and purchase digital currency assets by a credit card. There aren’t any download charges for the app. Atomic Wallet is highly secure, providing very convenient and clear handling to manage valuable, which makes it a superior choice to go for.
India’s regulations on Bitcoin
It would not be wrong to say Bitcoin a blessing to the financial market as it is expanding rapidly all over the world. Still, India is one of the few nations that look to be messed up or either confused to welcoming the cryptocurrencies full-fledged into its market. According to the latest reports, it presumes to be rumored as if there are no bills passed by the government yet. The legal status of cryptocurrencies like Bitcoin varies substantially from state to state and is still undefined or changing in many of them, whereas the majority of countries do not make the usage of Bitcoin itself illegal (the status as money varies with differing regulatory implications).
Cryptocurrencies trade is not legalized by tender, as the government ordered its entities regulated by the central bank of India (RBI) for a ban on financial support services to digital currencies in early 2018 but the exchange technically is legal.
The supreme court of India has in its ruling pronounced on 25 February 2019, required the government to come up with the cryptocurrency regulation policies, but the situation is still under consideration.
Buy bitcoin in Atomic Wallet
Atomic Wallet supports +300 cryptocurrencies and tokens, so you can buy Bitcoin as well as all sorts of top cryptocurrencies per your interest: Ethereum, Litecoin, Stellar, Ripple, Bitcoin Cash, etc through the simple and convenient interface using a credit card.
The process is the same for every asset, and it’s as easy as possible. Just follow a few steps below:
- Download the latest updated version of the Atomic Wallet app.
- Create your password and log in to a new wallet.
Don’t forget to save your 12-word backup phrase in a secured place as a hard copy or anyways you trust!
- Now open the Buy Crypto tab on the left menu available and set BTC (Bitcoin) as the exchange pair to USD (US Dollar) or EUR (Euro) as per choice.
- Go through the process and fill in the billing information, verifying your email address and phone number.
- Fill in the payment details, and click on the tab pay now.
- Enter your OTP (One Time Password) and click on the Submit button.
- Fill in the security standard form, attach the scan of your document and click upload document.
- As your payment is under process, meanwhile you can click on the tab return to Atomic wallet and see your transaction in the history tab from above. Your transaction is simply complete now. It could take a few minutes to update the transaction showing your purchase on the wallet, which surely is not a concern.
Please note the transaction failure or problematic behavior suspecting unsuccessful exchange will surely result to refund in your bank account immediately.
How to store Bitcoin
The art and science of storing Bitcoin are about keeping your private keys safe and yet remaining easily available to you when you want to make a transaction.
No hassle, no stress, it’s a fact that Atomic Wallet promises strong shield protection towards your assets. Your privacy is well protected with the password you create and a 12-word backup phrase, while the encrypted mechanism, which forms the mnemonic seed and the keys, saves your data on a PC or smartphone respectively. Apart from the high safety standards, Atomic Wallet has many other features, like a convenient, user-friendly interface, built-in exchange and buying options, its native token AWC (being traded on Binance DEX), membership program, 24/7 support service, and many more, which make the wallet one of the best options for Bitcoin and other cryptocurrencies.