After the recent lifting of the crypto ban by RBI, the craze for cryptocurrencies, especially Bitcoin, have started to rise again in India. Leading that craze from the front is WazirX, India’s leading and most trusted Bitcoin exchange.
WazirX has been recently acquired by the greatest global cryptocurrency exchange platform, Binance. This makes it a completely safe and trustworthy exchange site.
Open WazirX Account
WazirX helps you buy, sell and trade-in a basket of virtual currencies like Bitcoin, Ripple, Ethereum, Litecoin and more. And the best thing is, you can by and trade using Indian Rupees (INR).
Opening WazirX Account
Opening a WazirX account is very simple. It can be done via the web, or via the Android/iOS application.
Simply visit the WazirX website and signup using your email address. if you are on a mobile device, follow this link and download the application and register using your email address.
Once signed up, you need to verify your email. For that, just click on the verify link sent on your registered email.
Once email has been verified, you will need to complete your KYC. For that, go to Verify Account option on the application and selected the option to ‘Complete KYC’.
For KYC, you will need to input your personal details like permanent address. You will also require the following:
- PAN along with a photo of your PAN card
- Aadhar along with a photo of your Aadhar card
In order to buy Bitcoin, you will need to deposit INR to your WazirX account.
To do that, add your bank account details from which money will be deposited. Please make sure to use that same bank account whenever you make any deposit to your WazirX account.
Once you add your bank account details, WazirX will provide you the details of the account where money has to be transferred. Once you receive the details, you can use net-banking IMPS/RTGS/NEFT to deposit money to that account. It gets credited and shows up in your WazirX account within 5 minutes.
Buy Bitcoin Using INR
To buy Bitcoin using the deposited INR, select the BTC/INR from the market list. Then click on the Buy/Sell button.
On the buy window, enter the amount of BTC you want to buy (minimum 0.0001 = 332.06 INR as of 09/11/2021). You can also adjust the price at which you want to buy. Keeping the buying price too low as compared to the current market price might cause your buy order to not get executed.
Once you have placed the order, wait for a few seconds/minutes for the order to get executed and processed. If you have kept the buy price similar to the market price, our order will get executed very quickly.
Congratulations!! Once your buy order has been executed, you can check your Bitcoin balance under the Funds section.