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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
WazirX is a new Bitcoin and cryptocurrency exchange in India. It's operated by Binance, one of the largest crypto exchanges in the world.
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
Paybis is a popular & cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries.
Deposits can be made via bank wire, SEPA, ACH and SWIFT. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
Unocoin is India's leading Bitcoin platform. Their customers can buy bitcoin with any Indian bank account via online banking or NEFT and RTGS.
Airtm offers a peer community. You can buy and sell dollars or crypto in exchange for other forms of value. The platform provides trust and transparency by authenticating users and establishing a higher degree of identity validation to the peers who facilitate the transactions. Airtm provides an escrow system, so that value exchanges are fair and are completed as agreed.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
The Indian economy is the 5th largest in the world. GDP is largely derived from pharmaceutical, IT services, tourism, textiles, telecommunication, and automobiles. India ranks second in the world in coal processing and cement and steel production.
In 2019, the Supreme Court of India demanded the Indian government to set a regulatory framework regarding cryptocurrencies. Until that is complete, Bitcoin is not recognized as a form of payment by any state authority. That said, those deriving income from Bitcoin can expect to pay taxes on it since the Indian laws regulates the taxation of any type of income.
If you want to acquire Bitcoin in India, one of the easiest ways is to buy through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in India, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.
Another way to buy Bitcoins in India is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin. This makes them more private than exchanges. You can locate Bitcoin ATMs in India using our Bitcoin ATM Map.
India has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
There are three main types of Bitcoin wallet and all of them are supported in India:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.
In 2018, the cryptocurrency exchage Coinsecure was hacked, losing $3.5 Million worth of Bitcoin. It is beleived that the hack was the work of insiders, among them the Chief Security Officer. The allegations were based on the fact that this official was the only person who had the private keys to the exchange’s main wallet.
The hack took place a few days after the Central Bank of India banned banks from dealing with cryptocurrency exchanges, so there was a clear motive to drain the funds instead of return them to customers and shut the doors.
Coinbase ONLY allows crypto-to-crypto conversions for India residents as of January of 2021.
India offers only one Bitcoin ATM. You can find it in the Garage Society in Gurugram.
The current price of Bitcoin in India is INR2,614,797.95, however this amount changes every minute, so always check the value on your local exchange.
Any exchange with a Indian rupee trading pair will allow you to sell your Bitcoin for fiat currency. WazirX has INR trading pairs for many popular coins.
Another way to sell Bitcoins in India is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in India using our Bitcoin ATM Map.
Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.
You could also use a service like eGifter to sell your Bitcoin for gift cards.