The Indian banking system is still unsure about Cryptocurrency’s status in India. It’s not illegal, but most of the banks in India doesn’t allow you to buy Cryptocurrency online or we can say that the Indian banking system is not Crypto friendly.
Even after this complicated situation, a percentage of people still hold’s Cryptocurrency such as Bitcoin, Litecoin etc. So how do people are still able to purchase Cryptocurrency in India? Here in this article, I’ll guide you through a process where you’ll be able to use UPI or Digital Wallet to buy Bitcoin in India.
How to buy Bitcoin in India using UPI or Digital Wallet
There might be more platform from where you can buy Bitcoin in India using the mentioned payment methods. But I’ve been using this platform, named “Paxful” and it has the best payment methods and as well as secure.
You can signup to Paxful using the URL or OR code mentioned below:
Once you signed up to Paxful, you’ll get redirected to a dashboard like this. Before start purchasing Bitcoin, make sure that you have verified your account or your money might get stuck.
You’ll need to verify your identity as well the residential address which you can do using your passport or other Government-issued documents. The verification process is fast, secure, and the support team is always available if you have any questions.
For additional security of your account consider enabling the 2FA security. By allowing this, you’ll need to verify your login and coin transfer using OTP (One Time Password).
Are you done with the verification and security? Well, now you are ready to buy Bitcoin using your preferred payment methods. Paxful also has its mobile application, and you can download it on your Android or iPhone to keep yourself updated on your balance.
Buy Bitcoin on Paxful using UPI or Digital Wallet
Check the second screenshot (Classic Dashboard) and click on the Buy Bitcoin button. It’ll redirect you to the checkout page where you can check all the available payment methods. You can confirm the same with the added screenshot below.
Popular Indian Payment Methods:
- IMPS Transfer
- UPI Transfer
- Paytm Online Wallet
- Bank Transfer
I’ll recommend you to go with the UPI, Paytm, PhonePe, or Bhim transfer. It’s easy, fast and most importantly, secure.
Select your preferred payment method, type the amount that you want to purchase and hit the Search button. Below you’ll see all the available offers that accept your preferred payment method and has that much coin available.
Each offer you see is from a different seller, before proceeding with an offer check the seller’s raring, purchase requirements, last seen, and rate.
Once you click the buy button, you’ll get redirected to the offer page, where you can check the reviews by other buyers, requirements, and rates of course. Check all the info and to proceed to click on the buy now button which will put the bitcoin on Escrow which is the most secure platform for digital sales.
On the checkout page, you’ll be able to chat with the seller, and the person will provide you with the payment info. Make the payment, click on the Payment done button and also upload the screenshot on the chat. After that, the seller will confirm the payment and release it to your Paxful account.
Well done! You have successfully purchased Bitcoin, and now you can enjoy the taste of Cryptocurrency.
That’s how you purchase Bitcoin in India using UPI or Digital Wallet. If you know any other Cryptocurrency platform which accepts Indian payment methods, mention them in the comment space below.