Are you still not aware of how to invest in crypto in India don’t worry today I will tell you easy ways to purchase cryptocurrency in India.
There are multiple wallets to invest in crypto in India. Some wallets are Wazirx, CoinDCX, Ledger, Zebpay, BuyUcoin, Trezor model, Coinbase, Metamask and Binance. Wazirx is an Indian crypto wallet founded by Nichel Shetty now shifted to dubai due to ease of work. One can easily open an account in the Wazirx wallet for trading in crypto. Binance is worlds largest crypto trading account. Document verification is required to open an account in WazirX and Binance.
How to invest in crypto in India
First clear your mind whether to invest in cryptocurrency India or not! For your info cryptocurrency is not banned in India, instead the Indian government is taking 40% tax when you withdraw the crypto selling amount in Indian banks. I know 40% is a huge tax but this clears that the asset is not banned. World is accepting it and Bitcoin ATM in Athens, Greece are already installed.
Multiple ways to invest in cryptocurrency in India some are mentioned below:
Open crypto trading account here
Similar to the share market, a trading wallet is required in crypto currency as well.
In the share market when you buy, sell or trade shares you need accounts like Share khan, Zerodha, Upstocs and Motilal Oswal etc. Similarly in the crypto market there are some wallets to keep, sell, buy and trade cryptocurrency in India. Wazirx is an Indian crypto wallet run by the owner Nichel Shetty. Apart from it one can buy crypto in India through CoinDCX, Ledger, Zebpay, BuyUcoin, Trezor model, Coinbase, Metamask and Binance. Today we will explore Wazirx, metamask and Binance wallet.
Wazirx
Wazirx wallet founded by Nichel Shetty. In the beginning Wazirx office was located in India later it shifted to Dubai. It shifted to Dubai due to the confusing behaviour of the Indian government. Dubai gives easy permission and freedom to establish different businesses. Currently Wazirx is operating from Dubai.
Create account wazirx wallet
Visit the play store to download and install wazirx app.
Create an account in Wazirx app.
During the account creation it will ask your face current photo, click your photo and upload for verification.
Bank account number, mobile number and Aadhar Card required for bank verification.
Submit bank passbook details for bank verification.
Trading in Wazirx
- After creating a Wazirx account, submit a minimum Rs 1000 to start trading.
- Now you can easily buy, sell and trade cryptocurrency.
- You can trade in many crypto currencies however you may not see some old-new currency because they are not updated in the exchange.
- After selling the cryptocurrency in US dollars you can easily withdraw the amount in Indian rupees in your bank account.
- Due to easy and user friendly interface trading and withdrawing in Wazirx wallet is easy.
Binance vs Metamask wallet
| Binance | Metamask |
| It is the world’s biggest crypto trading wallet. It is more secure than Wazirx and other wallets. Similar to Wazir x face and document verification is required in binance wallet as well. It’s drawback is you can directly not withdraw the amount in your bank account. To withdraw the amount from Binance you need to connect it with Wazirx. Once both accounts are connected transfer the amount from Binance to Wazirx then withdraw from Wazirx to the bank account. | It is the safest cryptocurrency wallet in the world. It can’t be hacked by hackers. No document verification is required in this wallet. Metamask wallet cannot be connected with any bank. To withdraw the amount you have to connect it with Binance. First transfer the sold crypto balance to your Binance account then to Wazirx then Indian bank account. Traders often use meta mask wallets for long term investment. |
Conclusion – Now you know how to buy cryptocurrency in India. You got an idea about investing in crypto in India. Wazirx, Binance are useful wallets for crypto trading. Now you know you need wazirx wallet to withdraw amount in Indian currency.