Are you looking for the best exchange in India to buy Bitcoin in India? Then, you have landed at the right place. By using this guide, you can easily buy, sell, and exchange BTC to INR on Koinbazar. Before we get into this, let's see an overview of Bitcoin.
Also, Koinbazar has recently launched the Bitcoin & cryptocurrency exchange mobile app for both android and iOS. With this app, you can buy, sell, and trade your favorite cryptocurrencies legally. Traders who download and signing to the app will get FREE 10,000 SHIBA INU tokens instantly gets deposited into your koinbazar account.
What is Bitcoin (BTC)?
Bitcoin is the world’s leading cryptocurrency. It is regarded as a store of value, investment, and digital currency, depending on its usage. Bitcoin was created by a mysterious Satoshi Nakamoto back in 2008. In his white paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’, he describes Bitcoin as ‘A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.’ Bitcoin gives users full access and ownership over their funds. It is protected by cryptography techniques and requires private and public keys to validate a transaction.
Every Bitcoin transaction is recorded on the Bitcoin blockchain. Just like any other blockchain, the Bitcoin blockchain is based on multi-nodal operation ie., copies of transactions and data are sent across every node involved, and an immutable system - the data recorded cannot be altered.
The total supply of Bitcoin (BTC) is 554,925,923 with 369,659,254.54 in circulation. Users can generate YOC through the mining process. The last known price of Yocoin is about $0.0009312.
How to buy Bitcoin with INR on Koinbazar?
To buy BTC with INR here, follow the step mentioned below,
Step 1:
Visit Koinbazar.
Step 2:
If you are already a registered user, choose 'SIGN IN' at the top right corner of the website to log into your account. If you are a new user, click 'SIGN UP' in the top-right corner to register your account.
Step 3:
After you sign into the account, choose "MY ACCOUNT" at the top right corner of the page. Update the requested details to build your profile.
Step 4:
Choose KYC verification under "MY ACCOUNT".
Step 5:
Update the KYC authentication section requested details and identity certificates should be updated and then click 'SAVE'.
Step 6:
Choose 'BANK DETAILS' and update your required information. Then, click "SUBMIT". Once the admin approved, you will be able to deposit and withdraw your funds from your Koinbazar wallet.
Step 7:
Once the admin approved your bank details, Choose "Funds" from the top right corner of the menu and select "Deposit".
Step 8:
Choose the "Fiat" option from the deposit. Your desired funds are to be deposited in the form of fiat currency.
Step 9:
Then choose the 'Manual Deposit' option and update the required information and also instant INR deposit options available. Your transferred amount will be credited to your Koinbazar wallet after being reviewed by the admin.
Step 10:
Once your funds get deposited, go to the home page and select ‘TRADE’.
Step 11:
On the trading page, choose the "INR" market and select BTC/INR pair to buy bitcoin in India instantly at the low transaction fee.
Step 12:
At the bottom left of the page, start trading by setting the order type and order value you would like to buy.