People usually ask how to purchase cryptocurrency online and often get confused due to the new concept of currency that is digital currency. The misperception is understood because we are grown and brought up with physical currencies and sudden entry of digital currency is yet to be digested by many people. However, it is more than 12 years when first digital currency called “Bitcoin” was launched way back in 2008 carrying the lowest price nearly rupees 8 to 10 for few years but today the price of Bitcoin is not hidden by anybody else.
To purchase bitcoin or cryptocurrency we highly recommend you to first understand the concept of cryptocurrency meaning you must understand what is cryptocurrency and to understand cryptocurrency it is advised to read our previous post called what is cryptocurrency this post is written step by step for beginners.
How to purchase cryptocurrency online
As crypto is a digital currency so there is no offline mode to purchase cryptocurrency. To buy cryptocurrency online you will need a ‘wallet’ which is called cryptocurrency wallet or “Crypto wallet”. You can find a cryptocurrency wallet in the form of an app and you have to register or sign up to the wallet as you usually do for other apps. These wallets are able to hold the crypto currencies. In short you have to create an online account on crypto exchange and then you can transfer real money to buy cryptocurrencies such as bitcoin, ethereum, litecoin, dogecoin etc. There are various crypto exchanges such as Binance, Coinbase, Wazirx etc
Follow the basic steps to purchase your first cryptocurrency through Binanace Exchange
- Keep your mobile and email id ready before starting signup process.
- Download Binance from play store or you can click this link Binanance to directly reach the page.
- By using the above Referell link you will get 10 to 20 % discount on trading.
- Now you will get a dragging option drag it towards right to solve this human verification puzzle.
- You will get option create a free account, click on that.
- After that fill your email ID and mobile number to register.
- Binance is highly secure and asks for 2 step security.
- You have to submit the code for 2 times.
- Once it will send code in your registered mobile number.
- And you have to submit the code received in your email id.
- Email verification and mobile verification both are necessary to run the account comfortable.
- After creating your crypto account in the cryptocurrency exchange you have to connect your bank to the exchange to purchase the cryptocurrency.
- You have to submit your PAN number, bank passbook 6 months detail along with your recent photograph for bank verification.
- Once your bank is verified you can sell or purchase cryptocurrencies such as Bitcoin, Ethereum, Dogecoin etc.
- Minimum amount to buy crypto in Binance is only 1.34 USD or Rs 100.
How to purchase cryptocurrency in India
To buy cryptocurrency online in India you need to follow the basic steps
- Get ready your mobile number and email for verification.
- Type Wazirx (Indian cryptocurrency exchange) on google or click this “Wazirx Exchange” link to directly reach the page.
- Click on create account option.
- Now fill your email id and mobile number.
- You will get code in your registered mobile number that you have just submitted.
- Also verify your email id to get updates.
- After verifying email id and mobile number your account will be created.
- Now from dashboard you will get kyc option to connect your bank with the exchange.
- PAN number, recent photograph and bank passbook 6 months detail is necessary for the verification.
- After bank varification you can sell or purchase cryptocurrencies such as Dogecoin, Ethereum, Bitcoin. Lite coin etc.
- Minimum amount to buy crypto in Wazirx is only Rs 100 or 1.34 USD
miniumum amount to buy Cryptocurrency
You need only 1.34 US dollars to buy your first crypto coin in “Binance Exchange” as well as in “Wazirx Exchange”. However, you can also buy the cryptocurrency in same value through other crypto exchanges.
Cryptocurrency questions for beginners
In order to help you and understand the cryptocurrency we have prepared cryptocurrency questions and answers for you.
What is cryptocurrency?
Cryptocurrency is a digital or virtual currency in the form of files that can be used for online payments. They are not physical as other currencies hence there is no offline mode and we cant use it offline.
What is cryptocurrency wallet address?
Cryptocurrency wallet is an online app where you can hold your cryptocurrencies.
What is cryptocurrency wazirx?
Wazirx is basically a wallet or crypto exchange through which one can sell or purchase crypto coins.
What is the minimum amount required to buy cryptocurrency?
Minimum amount to buy bitcoin in India is Rs 100 and after paying Rs 100 you will get some percent of the bitcoin according to its price for example you may get bitcoin in this ratio 0.000000055
What is the price of 1 bitcoin in Indian Rupees?
The price of any crypto or bitcoin is not fix and it keeps moving frequently. Price of 1 bitcoin fluctuating between Rs 31 lakh to 45 lakh in past 1 year and as per the current search the price is showing Rs 31 lakh
What is the price of 1 btc in dollars?
The current price of 1 bitcoin in dollars is $42,915.30 USD but it may go up and down within few days because cryptocurrencies are frequently fluctuating currencies.