The trend of Cryptocurrency in India is increasing day by day and alot of you want to invest in it. Here is a simple guide on how to start investing in Cryptocurrency from India!
Step 1 – Gather the documents:
Before you open an account in any exchange, you need to be ready with the necessary uploads required for the exchanges to verify your identity. In other words – KYC. Without a completed KYC, you cannot trade on these exchanges. Although all exchanges require different documents, the bucket list of docs below should do just fine. Remember this is India, you need KYC. If you wish to trade without KYC go to an international exchange like Binance.
What do you need? – All scanned copies/soft copies.
- Aadhaar Card – Front and Back separate files.
- PAN Card
- Bank Account statement/Passbook – Account number and Name should be visible
- A scanned photo
Step 2: Sign Up on any Indian Exchange (Ref. Links below, you will get some benefits using them)
My Preferred exchanges are:
5. BuyUcoin https://www.buyucoin.com/referral?referral=buyucoin16945345
5. WazirX: https://wazirx.com/#/invite/t7dyj
4. BitBns: https://ref.bitbns.com/421
3. Coinome: https://www.coinome.com
2. Koinex https://koinex.in/?ref=8d7806
1. Coindelta https://coindelta.com
Step 3 – Open an account:
Opening an account on these exchanges is as easy as opening an account on any websites.
I recommend clicking on the websites and go about it but if you need assistance here are some videos to help you with it:
Zebpay – www.zebpay.com
Koinex – www.Koinex.com
Coindelta – www.Coindelta.com
Step 4 – Complete the KYC:
If you followed Step 2, you will have the documents ready. If not please get the documents needed. Either way – Here are the videos to help you complete your KYC:
Zebpay and Koinex doesn’t have an official video for KYC upload. I recommend using the app/Website, you’ll get the hang of it. However a quick youtube search will help you with is if you are having difficulty.
Step 5 – Deposit INR to Trade:
Once the KYC and Bank account is verified on these exchanges you can begin trading. You will need INR in your exchange account to buy Bitcoin or any other currency like Ethereum, ripple, omisego, bitcoin cash, etc
Step 6 – Now Buy what you want:
Once your deposit is credited, you can use the INR to buy or sell crypto currency.
It is fairly easy to buy and sell bitcoin on Zebpay because they only offer bitcoin and they are not an Orderbook Exchange.
Let’s talk about Coindelta and Koinex here.
The teams at both the exchanges have come up with brilliant tutorial videos, please watch them and follow the instructions:
Step 7 – Since you bought, you will want to sell it too:
After you’ve bought the crypto currency you will want to sell it for profit too. Follow the videos in Step 6 to learn how to sell your crypto as well.
Step 8 – Transferring the coins to International Exchanges (Optional)
So i hope you already bought Ether on CoinDelta, now let’s see how to withdraw Ethereum from Coindelta and move to other crypto exchanges.
- Goto My Wallet page, click ETH – Withdraw
- Now enter Amount of ETH you want to transfer and the Ether Deposit address that you’ve copied from Binance, click Withdraw
- Immediately you’ll receive Email from Coindelta asking you to Confirm ETH Withraw request, please click ” Confirm “.
- Once confirmed, you’ll be able to see progress on Withdraw History page,
- You may click Transaction ID shown above to check the status on etherscan.io. Once it’s done, you’ll be able to check ETH Deposit completed on Binance as shown below,
As you can see, Block confirmation 4/30 as shown in the Status bar of Binance transaction history.
It’ll take usually 2 to 5 minutes to complete Deposit of Ethereum ( ETH ) which you’ve transferred from Coindelta to appear in your Binance account.
With ETH on Binance, you can Buy any alt coins listed on the platform.
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