Tips on How to Buy Bitcoins In India, Safely and Securely

Tips on How to Buy Bitcoins In India, Safely and Securely

In this article, we’re going to show you how to buy bitcoins India at a trusted exchange. You might encounter many fake or scam Bitcoin brokers when you try to buy bitcoins India. However, we’re here to make sure that doesn’t happen with our guide for how to buy bitcoins India.

Bitcoins Regulation in India

Just like any other software or company, Bitcoin also has to be subject to certain regulations in specific countries. Governments are now catching up since Bitcoin grew very fast in the recent years. After several Bitcoin money laundering operations were unearthed, governments are planning on becoming even more strict in terms of Bitcoin regulations.

In 2013, India was quite hostile towards Bitcoin. The Reserve Bank of India (RBI) warned the public against the use of virtual currencies because but have no real underlying value. The RBI also said that it would investigate these claims further and introduce Bitcoin regulations.

Fortunately for Indian investors, the financial institutions don’t favour a total ban of the currency.

Rather, it is rumoured that they prefer to have AML and KYC laws in place in order to let Bitcoin become legal tender. Thus, Bitcoin’s future in India looks positive, but there hasn’t been an official declaration yet. Apparently, there is a team of bureaucrats who will release an official statement of their concerns and the relevant issues to address.

Quite recently, four of the leading companies in Bitcoin and blockchain related services came together to create the Digital Asset and Blockchain Foundation of India (DAFBI). This is an indication into the bright future of Bitcoin in India.

Should you Buy Bitcoins India?

When you buy Bitcoins India, you’re investing into Bitcoin directly and you might lose your capital if Bitcoin turns out to be a bubble finally. That’s a concern that over 99% of all first investors in Bitcoin ask. If you also have that concern, we recommend you take a look at CFD trading as a means to invest into Bitcoin.

Essentially, CFD trading or Contracts for Difference trading is a speculative market which exists on different platforms. These CFDs are representative of a position in the market. The CFD will denote a position in the market; if you buy them, you’re going long on CFDs. That means you hope that the price of Bitcoin will rise in the market. If the price does rise, you make a proportional profit. However, if the price moves against you, you will make a proportional loss. In CFD trading, you can short CFDs of Bitcoin. Thus, if you think the price of Bitcoin will decrease, you can “sell” CFDs of Bitcoin and then buy them back later. This will make you a substantial profit.

There are many advantages to using CFD trading to invest in Bitcoin. Firstly, you can short the asset; which is pretty much impossible in real life. Also, these platforms provide CFD trading on leverage and on margin, thus you can trade bigger amounts without investing much. However, leverage trading can be risky if you don’t know how to trade. Using leverage, your losses could exceed your deposit. However, the profits are also as fruitful. You can earn much higher profits than what you invest into the currency.

 

Where to Buy Bitcoins India online

One of the greatest CFD trading platforms is Plus500. It’s one of the most popular and most used, there are over 100,000 active traders so you know it’s a legitimate website. Along with this, Plus500 is regulated by many financial institutions in the world and if you didn’t know, they sponsor Altetico Madrid.

Nonetheless, it’s one of the best websites because of the features it offers. Firstly, they provide leverage on CFDs of Bitcoin. Thus, you can purchase much more and trade for higher sums that you could with a small deposit. In this case, if you make money, you have to return the money you borrowed but you get to keep all of the profit. That’s a way to make much higher profits on a small deposit from which you can grow your trading account.

A great feature on Plus500 is that it displays most of the world’s financial instruments market prices on the website in real time. So, you can monitor your favourite commodities and allows for better monitoring of the profits or losses that you make.

Plus500’s free account also offers a demo version of CFD trading. This is pretty interesting because Plus500 gives you $100,000 in virtual money to trade bitcoin. You can start practising on the Plus500 demo version and then choose if you want to invest or not. I think it’s better for beginners to open a demo account first and then deposit their capital.

You can use Plus500 to buy Bitcoins India if you wish to secure your investment and spend some time trading for more profit. It’s a better option than buying Bitcoins and then waiting for the price to increase.

Check out our article on how to invest in Bitcoin using Plus500 so you can secure your investment’s future.

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About Article Author

Michael Serrano
Michael Serrano

Michael is an engineer and a bitcoin evangelist. He has been involved in cryptocurrencies since 2013. His biggest wish? 1 billion users of bitcoin, ether and litecoin by 2020. In the last 10 years he has worked for various early-stage start-up as a back-end developer.

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