You may be searching about Bitcoins and thinking to invest on it. But you don’t know where to start. This small guide will help you to understand what actually Bitcoin is and how you can purchase them! Bitcoin is the latest type of internet currency or we can say digital currency which is used same as other currencies. It has high value. Bitcoin is the highest valued currency as of now. A unit of a Bitcoin is called “Satoshi” or simply “Bit”. The name Satoshi is given because the founder of this digital currency is Satoshi Nakamoto. In this post, we will talk about Bitcoins and how we can purchase in India using Zebpay application.
Zebpay is an Indian application which is India’s first bitcoin wallet app! You can trade, purchase, sell bitcoins using Zebpay app. We will learn how to purchase bitcoins and what necessary steps are taken to trade on Bitcoins.
What is Bitcoin?
A Bitcoin is a digital currency which doesn’t have any physical existence. It resides on your computer and you can use it like physical currency for online purchases. The Bitcoin is generated by lots of calculations which needs high-end computers to solve. If you solve the problems related to Bitcoin transactions, you can get a small amount of bits for that. It is totally automatic and you just need a high-end computer because the calculations involved in the Bitcoins is too complicated for a normal computer. This is called Bitcoin mining. By doing this you can earn free bitcoins! But yes, it needs a powerful computer and your electricity bill will be also very high!
So many people prefer to invest in it as Bitcoin doesn’t have a stable value. It increases or decreases at any rate at any time! So you just predict and invest in it to gain some profit! You can use Bitcoins to purchase online also. Many websites started accepting Bitcoins too! It takes 10-15 minutes to transfer bitcoins because of the calculations involved in between. The Bitcoins are the result of calculations which is almost impossible to crack! So we can say it is highly secured currency! I guess you got some idea about what is Bitcoin and how it works! Let’s see how we can buy Bitcoins in India using Zebpay application.
How to buy Bitcoins in India?
There are many sites which allow you to buy/sell and trade on Bitcoins. These websites are normally operated with other currencies like dollars and pounds. So that is little problematic for Indian users. Zebpay is an android application which started this service in India. It is a Bitcoin wallet and you can store your Bitcoins there.
You can buy, sell and trade on bitcoins just in 2-3 clicks. It’s super easy and hides all complexity in between. The service charges are also minimum and it is the best Bitcoin wallet in India as of now. We will discuss how to buy bitcoins through Zebpay android application.
- Download Zebpay application and install it on your mobile.
- Sign up using your correct details (Name same as PAN card).
- After registering, you have to verify your account by uploading PAN card photo and bank account details. This is necessary to proceed further.
- It takes around 1 business day to verify your account. You will get mail and SMS regarding same.
- After verification, you can purchase your first Bitcoins! Just go to “buy” section and enter the amount in rupees. The minimum amount is Rs. 500. You can purchase Rs. 500 worth of bitcoins depending upon the exchange rate.
- After confirming, you will get method to pay. You have to do either NEFT or IMPS to them. After transferring, just provide the transaction ID and your amount will be shown in your account within hours. It takes some time so be patient.
- After getting the bitcoins in your wallet, you can use it to sell, send, and purchase goods or vouchers.
- The application is very easy to use. You can manage your Bitcoins easily using Zebpay application.
So that’s it! This is how you purchase and invest on bitcoins! Now start with the minimum amount and see how it goes. I hope you got some idea about this and you will try out.
Also Read: Free ICICI Virtual Credit Card.
If you have any question regarding this please feel free to comment below. I will reply as soon as time allows!
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