Are you new to this craze of Bitcoin and want to buy Bitcoin in India? Well, this article will answer all your questions as in this article I will be sharing a step by step guide on How to Buy Bitcoin in India using Zebpay App.
Before starting the guide, I would like to inform you guys that investing money in cryptocurrency is always a risk. So, only invest an amount that you can afford to lose.
Let’s get back to the topic.
Buying Bitcoin in India is not tricky as it sounds. An adult can easily purchase BTC from his bank account in India.
There are many exchanges that allow you to buy Bitcoin (BTC) from your bank account. One of the most famous exchanges that I myself use is ZEBPAY.
ZEBPAY is one of India’s First Bitcoin Exchanges and is used by many thousands of Indians.
Instead of talking about Zebpay, let me directly start with the main topic of this article.
- 1 How to Buy Bitcoin from Zebpay
- 2 Step by Step Guide to Buy your First BTC from Zebpay in India
- 3 Final Tips for Indian Bitcoin Investors
How to Buy Bitcoin from Zebpay
To buy Bitcoin from any exchange in India, you will need the following:
- A PAN Card
- Aadhar Card
- Bank Account
- 18+ Age
These are some basic requirements that you will have to fulfill in any big exchange.
Note: There is no risk in giving PAN Card Details. The exchanges are themselves companies and they have to maintain records of their users.
Moreover, the Indian government will start imposing taxes on profits from Crypto Market, so its better we play by the rules.
How to Setup and Verify ZebPay Account
The first step is to download the Official Zebpay App from its official site or Google PlayStore or from this link. Always make sure to double check the app details before installing an app related to crypto. (Lots of scams happen in crypto industry).
Once you download the app, you will have to make an account on it. The App will ask for your mobile number to verify the account.
After you verify your mobile number, you will have to enter your remaining details.
Set-up a PIN Code. This PIN Code will be while making any form of transaction on ZebPay.
After this, enter your BANK Details, PAN Card And Aadhar Number to complete your Zebpay Account Verification.
Your account will be completely verified once you complete all the steps. Note that ZebPay takes 1-5 Business Days to Verify your account.
You can now buy Bitcoins from your Zebpay account.
Some Basics Before your First Bitcoin Investment
Now that your account is ready, its time for you to make your first investment.
But before that, you must be knowing some basics about Bitcoin (BTC)
You must be knowing what a “PAISA” or a “CENT” is??
100 Paisa makes 1 Rupee and 100 Cents Makes 1 Dollar.
In the same way, in Bitcoin (฿) we have “SATOSHIS”. Now, BTC is divisible upto 8 decimal places. Here’s a quick conversion to make things clear.
- 1 ฿ = 100,000,000 Satoshi
- 0.1 ฿ = 10,000,000 Satoshi
- 0.01 ฿ = 1,000,000 Satoshi
- 0.001 ฿ = 100,000 Satoshi
- 0.0001 ฿ = 10,000 Satoshi
- 0.00001 ฿ = 1,000 Satoshi
- 0.000001 ฿ = 100 Satoshi
- 0.0000001 ฿ = 10 Satoshi
- 0.00000001 ฿ = 1 Satoshi
This is important to know because once you start trading altcoins (coins other than Bitcoin) you will have to see the value in Satoshis as it becomes much easier that way.
This also means that the smallest amount of BTC one can have is “1 Satoshis”. Bitcoin is not divisible after that.
Anyways, now you are ready to make your first Investment.
Step by Step Guide to Buy your First BTC from Zebpay in India
To buy Bitcoins from Zebpay, you will have to first DEPOSIT money from your Bank Account to your Zebpay Account.
And then you can buy BTC from the funds in your Zebpay Account.
Transferring Money from your Bank to Zebpay
Open your Zebpay App, Tap on “DEPOSIT” Button shown in the snap:
There are 2 options to transfer money from your bank.
- Payment Gateway – PayU (Net Banking)
- NEFT / RTGS / IMPS
How to Deposit Money on Zebpay using Net Banking
This is the simplest and the fastest method to add funds to your Zebpay account.
The minimum deposit amount is Rs 2500 and it takes roughly 5-10 minutes to get funds into your account. (It may take 24 hours in some cases – I always got instantly)
The steps are;
Tap on Payment Gateway;
In the next screen, enter the amount that you want to deposit.
The next page will show you net banking charges;
By Tapping on “Proceed to Pay”, it will take you to the payment gateway where you can select one of the multiple payment options offered by them.
Now, Complete the payment process accordingly!!
I usually use Net Banking as it is super fast and it instantly credits my Zebpay account.
There’s another method to deposit money into your Zebpay account.
How to Deposit Money on Zebpay Using NEFT / RTGS / IMPS
Using this method, the minimum amount that you can transfer is Rs 10,000. And it takes 1-5 days to get your money transferred to your Zebpay account.
The steps are;
Enter the amount you wish to deposit. (Should be at least Rs 10000 in this case)
After clicking Next, you will be given the account details of Zebpay.
Deposit the amount to the given bank details and click Next. Make sure to deposit money from the Bank account that you attached to your Zebpay account
The next page will show you the details of your bank account. This will show the details of the bank account that you attached with Zebpay.
Click on Next.
Enter the reference number of your transaction on this screen.
Done. You will be getting a confirmation SMS and Email once the payment gets fully processed.
You will be able to see your funds within 1-5 Days.
You have successfully added money to your Zebpay Account.
It’s time to Finally Purchase your first Bitcoin.
Purchasing BTC from your Zebpay Account
Now that you have money in your Zebpay funds, you can instantly buy Bitcoins from it.
To buy Bitcoin, simply open Zebpay App and Tap on BUY Button.
Once you tap on it, you will be shown the current price of Bitcoin on Zebpay. (Exchanges set prices a bit higher)
Enter the amount in Rupees. If you enter Rs 250000, it means you will get BTC worth Rs 250000.
You can buy BTC worth Rs 1000 or more. It should not be more than the funds you have in your Zebpay account.
As soon as you tap on Buy Button, Zebpay will ask your PIN CODE that you set during Zebpay account creation.
Once you enter the correct PIN, your BTC Purchase will be complete.
You will get a confirmation mail as well.
To check your BTC Balance, you can simply open the Zebpay app and see your Bitcoin on the app home screen.
It’s simple right??
Anyways, before closing this article, do read the next heading as it is something YOU SHOULD BE KNOWING.
Final Tips for Indian Bitcoin Investors
- Don’t make big transactions at once.
- Exchanges like Zebpay set their own Buy and Sell Prices. Sell price will be always lower than Buy Price. Don’t panic by seeing your BTC Sell price lower than the price you purchased it.
- You can book your profits and keep the money (in Rs) in Zebpay itself.
- Only Invest an amount you can afford to lose.
- The prices are volatile. Always avoid selling at a loss. You will not lose anything unless you sell it at a loss.
- Don’t fall for scams and traps. Do not transfer or send your BTC to anyone unless trusted.
That’s it, guys. I tried to keep this guide very simple and newbie friendly. I hope you can now easily buy your first Bitcoin in India using Zebpay.
I have much more to share, so stay updated and keep visiting iftiCrypto.