How to Buy Bitcoin in India

We get it…

You want to buy Bitcoin in India.

But, Bitcoin buying can be somewhat confusing for beginners.

That’s where Bitpremier comes in.

This guide will teach you everything you need to know about buying Bitcoin in India, with several payment methods.

Unocoin is one of the most popular exchanges in India. In fact, their exchange is specifically designed for Bitcoin. If you want to trade other cryptocurrencies, try Unodax, their digital asset exchange.

Unocoin allows users to purchase Bitcoin via IMPS, NEFT, and RTGS bank deposits. 3-24 hours after the payment reaches Unocoins accounts, you will receive your Bitcoin.

For fees, Unocoin charges a .7% trading fee. For those looking to trade often, this fee can go down to .5% with enough volume. As far as limits go, Unocoin allows users to buy 10 BTC a day, and sell 2 BTC a day.

These are pretty high limits, considering they reset every day. Similarly to fees, after enough trades are made, limits can be increased.

Coinmama is another great option, specializing in credit and debit card purchases. They are based in Israel but serve an impressive amount of countries, including India.

In addition to selling Bitcoin, Coinmama sells 7 other cryptocurrencies, including Ethereum, Litecoin, and Ripple.

Coinmama charges 5% fees upon purchasing, with an additional 5% from their payment provider Simplex. Coinmama has very high limits, and they can be increased upon purchasing enough cryptocurrency.

LocalBitcoins is another option that uses an escrow service to allow person to person exchanges of Bitcoin. Users select amounts of currency, as well as a method.

For example, I could choose to exchange 100 INR for Bitcoin, and vendors who want to provide this service for a premium are available to facilitate the exchange.

Changelly is a unique exchange, as it cuts out a step in the cryptocurrency purchasing process. On Changelly, you select an input and output currency.

After selecting the two currencies, you provide a deposit address for the output currency and send currency to a provided address. The two currencies are then swapped in a quick fashion, making it easy for both parties.

Changelly allows users to directly purchase Bitcoin and other currencies with fiat. For fees, Changelly’s fees are .5% + 5%.

.5% is the fee Changelly takes, and 5% is the fee Simplex takes.

Bitcoin ATMs are a great private way of obtaining Bitcoin. First, find a Bitcoin ATM near you, and deposit cash. You will be promoted for a Bitcoin address, and will be sent Bitcoin! This is a simple method allowing you to not have to deal with the hassle of exchanges. Most Bitcoin ATMs will charge between 5%-10% for their services.