Here's How You Can Safely Invest In Bitcoin | Credit Help India


Because of the underlying reliable blockchain technology, stability, and accessibility, Bitcoin is the most popular cryptocurrency for investment.

A digital ledger is created by the chain of blocks (blockchain technology). Where previous bitcoin transaction data is stored in such a way that it is difficult to alter, hack, duplicate, or falsify the information.

Cryptography secures the records on a blockchain, and you have private keys allocated to the transactions, making it safe. The blockchain makes the distributed ledger of transactions available by spreading it through the entire network of computer systems.

Bitcoins are available for investment and trading on all crypto currency exchanges.

Bitcoins are accepted by a variety of international online merchants. Microsoft, for example, allows users to top up their accounts with bitcoins. There's a good chance that merchants in India will start accepting bitcoins in the coming days. 


There are three ways to  buy/sell bitcoins for investment  purposes in India.

1. Invest in Bitcoins Through Cryptocurrency Exchange

Unlike stock markets, where you can buy and sell stocks, a cryptocurrency exchange allows you to buy and sell cryptocurrencies such as bitcoin, ethereum, and ripple.

Purchasing bitcoins on a cryptocurrency exchange is the most straightforward way to invest in bitcoin. You simply need to open an account with one of the crypto exchanges, deposit funds into the account, and buy bitcoins via the exchange network.

When you buy bitcoins from a crypto exchange, you must pay transaction fees.

2. Invest in Bitcoins Through P2P Transaction

If you don't want to pay transaction fees or use an exchange trading platform, you can buy bitcoins through the P2P (Person to Person) method.

The exchange/platform only serves as a facilitator in P2P transactions. They assist you in locating a bitcoin seller, after which you must complete the transaction. Depending on the platform's internal policies, bitcoins can or may not be kept in escrow until the money transfer is completed.

In India, marketplaces such as Paxful offer buyers a 0% fee on P2P transactions, while sellers must pay a percentage fee, usually up to 1% of the transaction amount.

Other platforms or exchanges, on the other hand, can charge a small fee for P2P transactions, which you should verify before using the P2P mechanism to buy bitcoins.

3. Get Bitcoins Through Mining

Bitcoins can also be obtained by mining. Mining is a method through which you earn bitcoins for successfully adding a block to the blockchain.

Bitcoin mining entails two distinct tasks. To begin, you must first verify any previous bitcoin transactions that have occurred. It is necessary to verify a file that is 1MB in size and contains information of bitcoin transactions.

After that, you must solve a difficult mathematical problem in order to successfully connect the block of validated bitcoin transactions to the current blockchain.

When you successfully complete both tasks, you will be rewarded 1 bitcoin for your efforts. 

The fact that both tasks cannot be completed on your home computer demonstrates the level of difficulty involved.

To mine bitcoins, you'll need ASIC (Application Specific Integrated Circuits) computers dedicated solely to bitcoin mining, as well as a lot of electricity.

For a beginner in India, the best way to invest in bitcoin is to purchase bitcoins on an exchange platform.


Investing in cryptocurrency can be a difficult task, but there are crypto exchanges that make it relatively simple for a layman to purchase cryptocurrency. Crypto exchanges, such as Binance or Robinhood, are apps or websites that allow regular people who aren't familiar with trading to invest in crypto in a relatively simple way by using their fiat currency. Many Indian exchanges, such as Coinswitch Kuber, WazirX, and CoinDCX, offer Bitcoin for purchase. To purchase Bitcoin, follow the steps outlined below.

1.Install a reputed Indian crypto exchange such as Coinswitch/WazirX/CoinDCX/Bitbns/Zebpay. Make sure you do your research before you settle on choosing an exchange. 

2.Register and verify your KYC to set up your account. To make your app even more stable, make sure you allow two-factor authentication.

3.Input your bank/UPI information into the app. Once your bank details/UPI are registered, you can add money to the exchange.

4.After the funds have been deposited into an exchange, you can use them to purchase Bitcoin or any other cryptocurrency.

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