How to buy Bitcoin – Buy Bitcoin in four easy steps | KoinX

how to buy Bitcoin

How to buy Bitcoin in four easy steps?

Step 1 – Choose the Crypto Exchange 

Step 2 – Decide the budget

Step 3 – Choose the payment option

Step 4 – Place your order and Buy BTC

Step 1 - Choose the Crypto Exchange

In order to buy, you will have to start by signing up on any of the crypto exchanges. A crypto exchange is where buyers and sellers meet to trade cryptocurrencies. There are a large number of exchanges available that allow you to buy Bitcoin. Some of them are Binance, WazirX, CoinSwitch, etc.

Step 2 - Decide the budget

Once you have set up your account on any one of the crypto exchanges, then comes step two, where you decide on how much you want to invest in buying Bitcoin. Deciding your budget solely depends on your financial situation. 

Step 3 - Choose the payment option

Now that the account is set up and you have the budget with you, all you need is to   deposit the budget on the crypto exchange by using any available payment method. The most common deposit methods are via PayPal, Debit/Credit Cards, and Internet Banking. Generally, crypto exchanges don’t charge any fees for the same. 

Step 4 - Place your order and Buy BTC

Once you have deposited the amount you want to invest into the crypto exchange wallet, you can either directly place an order to buy Bitcoin at the market rate or put a limit order at any of the required rates you wish to buy. Once the trade goes through, BTC will automatically be added to your wallet. 

Popular video guides on buying Bitcoin

Where to buy BITCOIN?

Also read: Bitcoin Prices Live

1. CoinSwitch
CoinSwitch crypto exchange

CoinSwitch after its establishment in 2017 has scaled up to the top of the list of crypto exchanges in India. It pools the liquidity of Bitcoin from some of the top crypto exchanges globally, and enables the user to trade it at the best rates globally.

Factsheet
Header 1Header 1
Operational SinceJune 2017
Deposit MethodsIMPS, Neft, RTGS
Deposit FeesNone
Cryptos Listed170
Trading Fees0 - 0.5%
Fiat Currencies SupportedUSDT, INR
TrustworthinessSafe
2. WazirX
WarizX crypto exchange

WazirX is one of India’s leading crypto exchanges. With WazirX you can easily buy BTC using the different deposit methods. In addition to this, on buying Bitcoin through WazirX, it only charges 0.2% as trading fee, which is quite low as compared to others.

Factsheet
Header 1Header 1
Operational SinceMarch, 2018
Deposit MethodsIMPS, Neft, RTGS, UPI
Deposit FeesNone
Cryptos Listed387
Trading Fees0.2%
Fiat Currencies SupportedUSDT
TrustworthinessSafe
3. Coinbase
coinbase crypto exchange

Coinbase is yet another exchange that allows people to buy and sell BTC. It is the most preferred exchange to trade and stake crypto. Having over 108 million users in more than 100 countries, Coinbase is one of the best platforms for beginners due to low trading fees and a super smooth user experience.

Header 1Header 1
Operational SinceJune 2012
Deposit MethodsPayPal, Debit/Credit Cards, Wire Transfers, Apple/Google Pay
Deposit FeesNone
Cryptos Listed170
Trading Fees1%
Fiat Currencies SupportedEUR, USD, GBR
TrustworthinessSafe

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Frequently Asked Questions

Where can you buy Bitcoin with a credit or debit card?

You can buy Bitcoin with a credit or debit card on crypto exchanges like Binance, and CoinSwitch. These exchanges also have very low trading fees as well. 

What will you need to buy Bitcoin?

In order to buy Bitcoin, firstly, you will require an account on any one of the crypto exchanges, secondly, the amount should be deposited. Post that you can easily buy bitcoin directly.

What is the easiest way to buy Bitcoin?

The easiest way to buy Bitcoin is by using credit/debit cards or Paypal which allows you to buy bitcoin within a few minutes if you have a functional account on any of the crypto exchanges. 

Best wallets to store your Bitcoin (BTC)

The best wallets to store your Bitcoin are Ledger, Coinbase and Exodus. . 

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