If you have any interest in cryptocurrencies or crypto trading, then you have heard the word Bitcoin, and why wouldn’t you, as it is highly popular used by millions of traders across the globe. While the identity of the creator or creators of Bitcoin remains unknown, Bitcoin needs no introduction, and everyone associated with crypto trading knows about this digital currency. The success of Bitcoin Cryptocurrency is the reason behind the launch of several other cryptocurrencies, and that is enough to tell you about the impact of Bitcoin on crypto trading. Bitcoin is a decentralized digital cryptocurrency abbreviated as BTC. In this article, we are going to talk about Bitcoin, how to buy it, and other important things about Bitcoin that everyone should know.
Is It Legal to Buy Bitcoin in Every Country?
Several countries have given green signals for buying and selling Bitcoin and other cryptocurrencies. However, several countries are yet to allow the trading of cryptocurrencies especially, Bitcoin. So, to answer your question, there are several countries in which you can trade through Bitcoin, while some are yet to allow it. If you are a beginner and are starting with Bitcoin, then my advice to you is to do all the due research, find out about the legal status of Bitcoin in your country, and then invest in it.
How to Buy Bitcoin? – Steps to Follow
Buying Bitcoins might look like a complicated task, but the truth is that it is quite easy, and there are only a few things that you need to keep in mind. To make it easier for you, we have a four-step guide that will help you in buying Bitcoins.
- Exchange: The first step towards buying Bitcoin is to select a crypto exchange through which you can buy and sell Bitcoins. There are several options available in terms of a crypto exchange, which is why you need to be careful while selecting a crypto exchange. My advice to you is to do complete research before selecting a crypto exchange. It will give you an idea about the benefits of all the major crypto exchanges, and then you can easily choose one.
- Payment Method: Once you have selected an exchange, the next step is to add a payment method to that particular exchange. By adding a payment method, you can easily buy Bitcoins. When it comes to adding payment methods, the most important thing is to choose the most suitable payment method, which is easy and fast.
- Order: Once you have added a payment method on a suitable exchange, the next step is to place an order for buying Bitcoins. By placing an order, you will buy Bitcoins, and then you can hold it or sell it depending on your choice.
- Storage: After you buy Bitcoins, the next step is to store them until you are ready to sell them. The storage of Bitcoin can be done through a Bitcoin wallet. To ensure that your Bitcoins are safe, you need to find the most reliable and secure Bitcoin wallet for storing your Cryptocurrency.
How to Buy Bitcoin in India?
The process of buying Bitcoin in India is similar to the general process which we have discussed above. If you are looking to buy Bitcoin in India, all you have to do is choose a suitable exchange that is reliable, secure and has good ratings. As we said earlier, selecting a good crypto exchange is necessary. Once you have selected a crypto exchange, you need to complete the KYC process. The KYC process includes submitting and verifying your documents like Pan Card, Aadhar Card, and other documents. Once you have completed the process, you can add money to your wallet and start trading.
What Is the Minimum Amount Needed to Buy Bitcoins in India?
It is necessary to understand that there is a minimum amount required for buying Bitcoins in India, and the amount is 100 Indian rupees. If you are buying Bitcoins through a wallet, you need to add at least a hundred Indian rupees to the wallet to become eligible for buying Bitcoins. So yes, there is a minimum amount required. However, this minimum amount is small, and you don’t have to worry about it.
What Are the Legal Procedures to Buy Bitcoins in India?
When talking about the legal procedures, there is one strict procedure: the completion of KYC. KYC completion is a necessary procedure for buying Bitcoin, and without completing your KYC, you cannot buy Bitcoins.
Investing in Bitcoin Is Worth in 2021?
It is one of the most asked questions because we are in the middle of a pandemic, and the market has taken a big hit. But, you don’t have to worry because Bitcoin is getting stronger every day; even in the pandemic, its value has increased. So, if you are wondering that investing in Bitcoin can lead to huge losses, then this fact will put you at ease. My advice is that this is the perfect time for investing in Bitcoin because it will give huge profits to traders and investors. Invest with Bitcoin Circuit – An automated trading robot to earn day-to-day profit from it. It is the most trusted and authentic platform that guarantees you to make a profit from Bitcoin trading. Read Bitcoin Circuit Reviews by Experts to know more about this one of the authentic Bitcoin Robots.
That was our complete guide for beginners who have little to no knowledge about Bitcoin. This guide will help you with the entire process starting from buying Bitcoin to holding it. Many people have second thoughts about investing in Bitcoin due to the risks associated with it. My advice for those people is to have some faith in Bitcoin because even though it is risky like every other Cryptocurrency, it has produced some incredible results in the recent past. So, the best thing to do is ignore those risks and start investing in this Cryptocurrency because it has the potential to give huge profits to investors.