Present time, Bitcoin became popular over the time. There was a time when no one wants to invest in bitcoin due to its lowest value, but now the scenario has been changed. Everyone is striving to invest in bitcoins due to their increasing importance over time.
Since bitcoin’s inception in 2009, it has become a most considerable volatile investing asset used in online transactions such as online purchasing. Bitcoin is a decentralized currency, which means that bitcoin is neither the government’s right nor any organization.
As per the recent report, bitcoin attracts a lot of retail investors. However, investors are not even aware of the legal procedure of purchasing bitcoins.
To purchase bitcoin, the investor should first research all the factors such as rates, nature of know your audience(KYC) procedure and exchange offers, etc.
A fresher investor should look online review, evaluate security and ease of using platforms. Thorough research is significant before investing in bitcoin.
Once investors complete research and choose an exchange, they can start investing in bitcoin.
How to invest in bitcoins:
There are two ways to invest in bitcoins in India. You can either go to one of the exchanges or invest in bitcoin by going online peer to peer platforms.
If you go with the exchange option, you should know that all the exchanges follow strict KYC guidelines and anti-money laundering norms on creating an account.
The following steps are required to open an account.
- First, open the website, choose the signup option. For registering, first, you have to enter your mobile number.
- Submit all the necessary documents scanned copy such as Aadhar card, PAN Card, etc.
- After submitting documents, you will receive an email or message to activate your account.
- Once your account activates, now submit your account details so you can deposit money in your account for purchasing bitcoin.
- Once you see money in the account, you can convert the amount in bitcoin by clicking the “buy bitcoin” option. Once you click on the buy bitcoin option, your amount will convert into bitcoin.
By following steps, you can invest the amount in bitcoins in a simple way.