How to Invest In Bitcoin In India, Best 5 App to buy or Sell Bitcoin | Pros and Cons
There are n number of Companies and apps available in the Market claiming to be the best app to invest in Bitcoin. But for any beginner, it is very necessary to check all the boxes of the query along with knowing all the Pros and Cons of the app.
So here we have given a detailed comparison of the advantages and disadvantages of the particular app. First, go through the article thoroughly and choose wisely.
If you are a beginner we highly recommend you choose an app that has a simple interface for usage without compromising security risks.
How to invest in Bitcoin In India?
If you are a prominent internet user you may be aware of the blockchain technology trend. Watching television advertisements about Bitcoin trading may entice you to get into the field of Bitcoin investments.
Bitcoin, with getting so much popularity, most of companies has released their bitcoin trading apps. Investing in Bitcoin with those apps is laymen’s work.
You don’t need any pre knowledge of using such apps. Most notable feature is that you don’t need a broker, guiding you every moment. You only need ₹100 and you can trade in bitcoin.
1) Download a bitcoin trading app from Playstore.(Coinswitch Kuber, CoinDCX, WazirX)
2) Register you mobile number and verify it by One Time Password.
3) Set Security PIN to access The App later for security reasons.
4) Now you are very Close to start trading in Bitcoin. First you need to Unlock your wallet so that you can withdraw your Earnings.
5) To Unlock you wallet, just Enter your name, Pan Card No., DOB and Valid G-Mail id. Next you need to Verify your Pan card by scanning it.
6) After that you can deposit money in your Bitcoin account to start trading.
7) These all are very quick process, just compete them and you are done with it.
Now you might be looking for best App to start with Bitcoin trading. So we have enlisted best 5 app to buy or Sell Bitcoin along with Pros and Cons of particular app.
Also Read: What is blockchain?
Best 5 app to buy or Sell Bitcoin
1) Coin Switch Kuber
It was launched a year back and with no time app has gain so much popularity to become no. 1 trusted app in field of cryptocurrency. Coin Switch Kuber has more than 7M users across the Globe at present time.
Best thing about the app is that it has made such complex process of cryptocurrency trading quite easy and even a noob can use it like a pro. So for a beginner, no other Bitcoin trading app is suitable.
From the students to a worker everybody can use it very well with have user friendly interface. CoinSwitch is for anybody looking to kickstart their crypto journey in the easiest way possible.
Pros and Cons of Coin Switch Kuber
Pros
1) Zero transactions Charges – Most of the people want to avoid such charges and coinswitch gives this feature of 0 charges.
2) Fast Registration – Registering your details and completing kyc is very quick as well easy process. Within 5 minutes you can register.
3) Simple To Use – As we discussed Coinswitch Kuber has very simple and crisp interface. Anybody can buy or Sell Bitcoin without having any pre notion about it.
4) More than 80 Plus coins– Coinswitch Kuber offer more than 80 coins to invest with separate interface of most gained and most lost values.
5) Security : This the main criteria that every user wants to check where money is related. Coinswitch kuber provide one of the finest Security as compared to others.
Cons
Not for advance traders:- As Coinswitch kuber tries to simplify crypto trading, it is not for the advance traders as it does support OTC trading. However in future time you can watch such option of SIP, limited orders and more.
2) WazirX
Wazir X was launched in way back 2018 when online crypto trading was not so much popular. This platform for trading is mainly focused for advance traders with intricate and sophasticated interface of buying and selling Coins.
So beginner might be in dismay and confused state while using it. Most notable feature about the app is it has its own coin WRX in which you can trade. App has huge base of users with 3M active users.
The Pros and Cons of WazirX
Pros
1) Features– wazirX gives users access to P2P trading, NFT market place and OTC trading.
2) Security – WazirX provide 2 fold security system to ensure high level Security without compromising any risk factor.
Cons
1) Intricate Interface – App has complex interface and not user friendly for a beginner.
2) Charges – The platform charges an INR deposit fee of 1.5% + 18%, and there is an INR withdrawal cost of Rs 10 or Rs 5. For crypto transactions, they charge a maker and a taker fee of 0.2%.
3) CoinDCX
This crypto trading platform was launched in 2018 as well and couldn’t get so much fame and gathered 0.2 M users so far. Reason for not getting active users is its overwhelming interface with too many options on screen.
CoinDCX major drawback is it’s slow startup and registration process. It takes slightly more than 20 Minutes for the document verification and full fledged KYC. On other hand you can register yourself in 5 minutes.
Pros and Cons of the CoinDCX
Pros
Features – It offers more of pro features like margin trading with robo orders. Lending features is also available for seasonal traders.
Coins – The platform has over 200+ cryptocurrencies listed.
Security – Cold wallet is used to store funds where BitGo ensures high level security.
Cons
Charges – The INR deposit fees for CoinDCX is 1.5% + 18%. INR withdrawals on the platform cost 0.20% or Rs 10. For crypto transactions, they charge a maker and a taker fee of 0.1.
4) Unocoin
Unocoin is the first ever Crypto Currency app launched in India and has over 1.5 million users.
Along with Crypto trading app allow users some services of paying through the bitcoin. Merchants can directly transfer bitcoin.
The Pros and Cons of Unocoin
Pros
Features– Unocoin has pro features of OTC trading, SIP, merchants services.
Coins– Unocoin has 45+ cryptocurrencies listed on the platform.
Security– Unocoin stores most of the Crypto assets offline hence makeing pro level security.
Cons
Charges- Unocoin charges a 0.7% transaction fee for buying and selling cryptocurrencies, which is comparatively higher than other apps.
Minimum Deposit– This is most notable drawback of the app. It allow user to trade for minimum amount of ₹1000. On other hand in Coin Switch Kuber, you need ₹100 which is least feasible amount.
5) Zebpay
It is one of the oldest cryptocurrency trading app launched in 2014 when handful people use internet. Zebpay has 3M figure of active users.
Zebpay has very crisp and clear interface And suitable for both seasoned and new comers. Like WazirX it also has its crypto coin Zebra.
The Pros and Cons of Zebpay
Pros
User interface – Crisp and clear interface.
Security – being one of the oldest in cryoto world trading, Zebpay claims to be best app to provide ultra level of security.
Cons
Charges – Crypto deposits on ZebPay are free. However, there is a fee of ₹15 on UPI transactions and 1.77% on Net Banking for INR deposits.
Coins – Like other crypto trading app, it does not provide much options to choose from. It has only 29 coins listed and user have to choose from them.
Our Decision for Choosing suitable app
So far you have read about features, merit and demerits of all apps and probably made a final decision. If your answer is Coin Switch Kuber than you have made a correct decision.
If we highlight the features of Coinswitch Kuber app than you would realize coinswitch kuber is best App to trade in Bitcoin. With simple interface, minimum deposit of 100, quick Registration process and pro level Security, this app checks all the boxes to be best among others.
FAQs about Best Bitcoin Trading app
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Which Cryptocurrency we should invest? Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Binance Coin (BNB), Polkadot (DOT). |
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What happens if I invest $100 into Bitcoin? If you invest $100 in bitcoin today and its value appreciates, say up to $110, you stand to make a profit because bitcoin is a digital financial asset. But if its value dips to below $100, you will make a loss if you decide to sell. |
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Is buying and trading in Cryptocurrency is legal in India? No, Bitcoin trading and buying and selling of Crypto coins is not yet legal activity but in forthcoming time, India may consider it as legal. |
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Which app gives you free Bitcoin? Blockchain Game is a free app that is available only for Android. It lets you earn Satoshi/Bitcoin by playing games where you do things like build a blockchain out of virtual blocks. |
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What are the documents required to register in Coin Switch Kuber app? To register in Coinswitch kuber, it is very quick process. You only need Your Pan Card to scan it for the verification purpose. Other than this, Coinswitch kuber does not ask for other private documents. |
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