Bitcoins and Cryptocurrencies are making waves across the world. The current exchange rate of 1 Bitcoin (BTC) to the Indian rupee is Rs 15.21 lakhs (as of today) for 1 BTC. That's a whole lot! In the last 5 yrs, the exchange rate has jumped from Rs 27k for 1 BTC to a whopping 15 lakhs today. That's a whopping 5.5k% growth in the last five years. That's how Bitcoins and Cryptocurrencies are increasing their values year after year.
But then most of us don't understand Cryptocurrencies and how it really functions. But if you are someone who is thinking of investing in it, here's one platform where you can buy Bitcoins and other cryptocurrencies.
But before I introduce the platform, here's a brief intro on Cryptocurrencies.
What Are Cryptocurrencies?
A cryptocurrency (or crypto in short) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.
Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created before issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
Is Cryptocurrency Trading in India legal?
Crypto trading is legal in India as of date. In April 2018, RBI had imposed a ban and barred any financial institutions from facilitating any virtual currencies. However, on March 4 this year, the Supreme Court of India had passed a judgment allowing Crypto trading.
Also as per RTI query, RBI had replied that there are no such prohibitions on any banks from providing the bank accounts for crypto exchange companies or crypto traders.
Where to buy Cryptocurrency in India?
There are a few apps and websites where you can buy and sell cryptocurrencies in India including the likes of Zebpay, Unocoin, CoinSwitch etc.
However, our focus is on CoinSwitch Kuber, an app where you can easily buy and sell hundreds of cryptocurrencies, not just Bitcoins.
CoinSwitch had just recently reached more than 1 Million users in a span of just 6 months. And it has become one of the most active and fastest-growing crypto trading platforms in the country.
So what is CoinSwitch Kuber
CoinSwitch Kuber is a secure, user-friendly platform for users in India, where one can buy 100+ cryptocurrencies like Bitcoin, Ethereum, Ripple, etc easily, at the best rate, with a variety of payment options being offered.
Users of CoinSwitch Kuber can easily register with basic KYC documents including PAN card, ID card (Aadhar, Passport, Driver's License), and a selfie to prove your identity.
Once your KYC is verified, you can access 100s of Cryptocurrencies for buying and selling. You can easily add funds to your CoinSwitch account using your UPI (GPay, Paytm, PhonePe, etc) and withdraw funds to your Indian bank account.
CoinSwitch Kuber App offers awesome features including:
- Simplistic user interface
- Supports 100+ cryptocurrencies
- Instant Deposits and Withdrawals
- Fastest INR to crypto exchange, crypto to crypto, and crypto to INR trading
- Provides the best rate in the market
- Smart and superfast KYC process
- Ideal for beginners as well as daily doers
- Prompt customer support
How Cryptocurrency Trading Works?
Cryptocurrency trading is the process of exchanging INR to cryptocurrency or cryptocurrency to cryptocurrency. The process of selling crypto after holding it is also a part of cryptocurrency trading. This entire process happens through a trustworthy exchange platform, and this is where you have to do a bit of research before trusting any platform with your crypto asset.
The best option is to go for an exchange, which gives you the leverage to have complete control over your funds. CoinSwitch Kuber is that crypto exchange platform, which enables the Indian crypto users to go through the trading process in a seamless way. The best part is that you don’t have to browse through multiple exchanges in search of the best trading rate. CoinSwitch Kuber pools the liquidity from leading crypto exchanges from India and allows its users to trade cryptocurrencies at the best rate. One can trade over 100 cryptocurrencies at the best rate.
CoinSwitch Kuber is specially designed for users in India and facilitates trading of cryptos by completing KYC in a few simple steps.
Here are the steps to get you started on crypto trading with INR with CoinSwitch Kuber:
1. Download the app:
2. Using CoinSwitch Kuber: CoinSwitch Kuber Guide
Why you should consider CoinSwitch Kuber as your Crypto tarding platform.
CoinSwitch Kuber is developed by the team CoinSwitch and is funded by Sequoia Capital. CoinSwitch trading platform has processed over $5 billion in crypto and brings the same trust and security to INR trading. CoinSwitch has built CoinSwitch Kuber to provide the same experience to Indian users buying and selling cryptocurrencies with INR.
How to Buy Cryptocurrency in India using CoinSwitch.
Buying and selling cryptocurrencies in India have been simplified with apps like CoinSwitch. Just download the app CoinSwitch Kuber App, and then you can follow the simple steps and buy more than 100 cryptocurrencies with INR, at the best rate.
Well, if you are interested in trading in Crypto, you can sign up for CoinSwitch Kuber and get 50Rs worth of free BitCoins!
But before you invest, learn more about BitCoin here and decide accordingly if you want to invest in it or not!