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How to buy Bitcoin in India after Supreme Court ruling on Cryptocurrency; Details here

The Supreme Court of India has legitimized the usage of Bitcoins across the country. This has relieved cryptocurrency traders to some extent. The world of virtual currency is vast and ever-growing, and Bitcoin is among the supergiants of the industry. India is a vast country just as big as China, and this ruling has supported the world of digital money extensively. The news of cryptocurrency becoming legal in the country has left the tech-savvy traders in a frenzy and everyone is keen on knowing how to buy Bitcoins in India. Here is an extensive guide through the process.

How to buy Bitcoins in India?

Bitcoins have interested Indians in investing in cryptocurrency which is a future promising medium. The process of buying Bitcoins have become easier as they have listed three simple ways of buying the coins online. The ways include:

Use a Bitcoin Exchange

The Bitcoin Exchange enables a trader to buy Bitcoins from verified sites. The website Bitcoin.org has listed several exchange places where a person can buy through the apps and websites which provide the services. The list is extensive and provides detailed information as per the country and continents.

So Read| Supreme Court paves way for virtual currency; Bitcoin to be used now in India

Browse a P2P Directory

The P2P or Peer to Peer Directory helps the users to check the Bitcoin prices and buy them accordingly. The online traders just have to link bank accounts, upload the money and start trading effectively. The P2P directories are basically peered apps and websites that are connected to the organization which may charge service fees for the easy trading connections to the cryptocurrency organization.

So Read| Irish drug dealer loses €55m bitcoin fortune after losing fishing rod case with codes

Use a Bitcoin ATM

Bitcoin ATMs work like regular banking ATMs. However, they not only allow the traders to withdraw the money but one can also deposit the money. This helps the Bitcoin owners to effortlessly buy and sell bitcoins. The official website of this cryptocurrency company enables people to find the closest Bitcoin ATMs through an interactive map.

So Read| Man gets year in prison after $200K Bitcoin scam in Montana

Now buying Bitcoins and using cryptocurrency is legal in India and so many netizens are curious to know about related websites. The current Bitcoin price as of March 4, 2020, is Rs 6,46,743.66. This currency can be used as a mode of transaction to send and receive money. However, RBI still stands against the usage of cryptocurrency.

So Read| Future of Ohio Bitcoin program, deemed illegal, in limbo

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