How to Buy Bitcoin Instantly and Securely in India?

Bitcoin is the most important invention in the world's history since the internet, entrepreneur and author Michael Saylor rightly said. It is no wonder that 219 million people in the world currently own Bitcoin in some denomination.

So, what makes Bitcoin such a coveted cryptocurrency? Bitcoin was the first cryptocurrency ever created, and today, it is the most valuable digital token accepted by many renowned merchants and retailers worldwide. Bitcoin is often called digital gold.

With Bitcoin's price scaling new heights every day, newbie investors interested in Bitcoin may believe they are late to the party. Well, absolutely not! Bitcoin is still a worthy investment for seasoned crypto traders and first-time buyers and a valuable asset for future gains.

Having said that, India is still a growing crypto market with limited resources for traders to invest and buy Bitcoin securely, transparently and cost-effectively. Choosing the ideal platform for your crypto investment can be challenging in such an environment. If you are wondering which is the best place to buy Bitcoin in India and where you can trade Bitcoin freely, we have you covered!

Read on and discover where and how you can buy Bitcoin in India, choose the best exchange to buy Bitcoin in India and how to transfer your Bitcoin holdings and crypto assets safely & effectively across exchanges.

Introduction to Bitcoin

Bitcoin is the first name that comes to mind when a first-time buyer is looking to invest in cryptocurrency in India or around the world.

Bitcoin is the first decentralized digital asset of its kind to allow secure peer-to-peer transactions. Nodes in Bitcoin verify transactions through cryptography and record them in a publicly distributed ledger called a blockchain. Bitcoin was invented in 2008 by Satoshi Nakamoto and released in 2009 for open-source implementation. Since then, Bitcoin has used the energy-intensive proof-of-work consensus mechanism. From 2009 to 2024, Bitcoin has seen itself transform from an innovative payment network to a valuable asset akin to digital gold and the foundation for today's thriving cryptocurrency ecosystem.

Despite standing as a mainstream investment today, Bitcoin did see its share of harsh dips and pumps in its rise to being the highest-valued cryptocurrency in the world.

Originally, Bitcoin was worth nothing. The first time a monetary value was attached to it was in October 2009, when a Finnish computer science student sold it on PayPal for $0.0009 each, or INR 414.

From 2009 to 2012, the price rise of the mighty B was slow and gradual. It wasn't even worth a dollar in February 2011. However, in June 2011, Bitcoin saw a price spike, reaching a value of INR 2471, which was short lived and the coin soon plummeted to INR 411.

With low liquidity and the advent of Bitcoin's then rival Litecoin, Bitcoin hovered around the INR 1100 mark until November 2013, when the crypto's price trajectory began its steep climb, breaching $1000 or INR 46,543.

With more investment pouring in and increased media coverage, Bitcoin breached several price barriers and reached $4000 in Aug 2017. From November 2021 to December 2021, Bitcoin skyrocketed from $10,000 to $19,000. However, a sharp correction was imminent, with the mighty B experiencing a consistent downtrend shortly after.

Coupled with the pandemic and the Crypto Winter of 2022, Bitcoin struggled much like all the cryptocurrencies at the time and experienced a major freefall. Historically, Bitcoin has always risen from the ashes after every bearish phase and the coin soon began redeeming itself in early 2023 breaching the $20,000 mark and steadily rising throughout the year from $30,500 in July 2023 to $42,809 in December 2023.

Following 2024, Bitcoin set a new record of $73,750, with a market capitalization reaching $1.44 trillion on March 14, 2024. Bitcoin halving was completed on April 20, 2024, and the year 2024 also witnessed the U.S. Securities and Exchange Commission giving its approval for 11 Bitcoin ETFs. Industry experts believe that these 11 ETFs are set to bring more stability to the price of BTC in the long term and potentially reduce liquidity risks over time.

The magnitude of Bitcoin's rise makes it the most lucrative and return-generating asset of our time. More than ever before, investors are looking to buy Bitcoin in India and join the crypto on its positive and promising future. If you are one such investor looking to buy Bitcoin in INR, read on to discover everything you need to know to buy Bitcoin today and partake in its triumphs.

How to Buy Bitcoin in India?

Crypto enthusiasts who are looking to venture into the crypto market in India are often faced with the question, 'How to buy Bitcoin in India?

Buying Bitcoin in India is as easy as ordering food or groceries online. Having said that, with the robust legal, taxation and regulatory framework for cryptocurrencies in India, first-time buyers must make themselves aware of the same and adhere to all the laws surrounding crypto investment.

We at Flitpay are a trusted and customer-friendly crypto exchange with investor interest fundamental to our functioning. Here is a step-by-step guide for first-time investors to buy Bitcoin in India:

1. Create & Verify Your Account on Flitpay

The first step to buying Bitcoin in INR is to create and verify your account on a reputable crypto exchange in India, such as Flitpay. This can be done easily by keying your email ID & password and completing a two-factor authentication from your registered email ID and your registered mobile number. Next, enter your Permanent Account Number (PAN), a selfie of yourself, and your address and date of birth to complete your KYC verification to comply with the regulatory requirements. Duly completing the KYC process ensures security for your crypto transactions and investments.

2. Add Funds to Your Exchange Wallet

Next, registered and KYC-verified users of Flitpay must add funds to the exchange wallet. This can be done in various ways, such as UPI apps/IMPS/NEFT/RTGS through your registered bank account. INR deposit fees & withdrawal fees are charged by Flitpay's banking partners to facilitate INR deposits and withdrawals. This is applied every time you withdraw money from your bank account or deposit money from your bank account in the Flitpay wallet, and it varies depending upon the charges of payment gateways.

3. Place Your Bitcoin Order

Once the deposited funds are reflected in your Flitpay wallet, all you have to do to buy Bitcoin is place your Bitcoin order by keying in the amount in INR corresponding to the Bitcoin units you wish to buy. Select a payment method and click on 'Buy BTC' to complete your purchase.

4. Store Your Bitcoin Securely

Now that you have bought your Bitcoin, it is important to store your assets safely. Flitpay offers a custodial wallet wherein investors can securely store their crypto holdings and seamlessly withdraw/deposit their digital assets for trading and investment purposes.

Where to Buy Bitcoin in India?

Investors can buy Bitcoin from a crypto exchange in India. Several crypto exchanges in India are available both as a web platform as well as a mobile application. These exchanges allow investors to buy Bitcoin at the current global market price. Investors can link their registered bank accounts to the crypto exchange and buy Bitcoin in INR.

There are several important considerations when choosing a crypto trading platform to buy Bitcoin and other cryptos in India. Trading fees, FIU compliance, and customer support are some of the determinants. Keeping these factors in mind, Flitpay emerges as the best exchange in India for buying Bitcoin. Flitpay is a leading free-to-use crypto exchange in India that is compliant with the regulatory framework of FIU. Flitpay offers a zero-fee KYC process for all users and a two-factor authentication system, ensuring a secure, transparent and convenient platform to trade and store your crypto investments.

What is the Minimum Amount of Bitcoin that I Can Buy?

Much like investing in the stock market, there is no minimum amount of Bitcoin that investors need to buy. Investors looking to invest in Bitcoin can do so with a minimum amount of INR 100. For INR 100, an investor can get 0.000019 BTC, which is the minimum amount of Bitcoin an investor can buy, as the current price of one bitcoin at the time of writing is INR 56 69, 324.

That said, investors must make an informed investment decision and get familiar with the legal and taxation landscape around cryptocurrency in India. Further, the cryptocurrency market is a volatile and uncertain space. Investors must conduct due diligence on the market and Bitcoin before investing in the crypto.

Where to Buy Bitcoin in INR?

Investors can buy Bitcoin in INR from any of the FIU-compliant crypto exchanges registered in India. Before choosing a crypto exchange, ensure to conduct due diligence on the authenticity of the exchange, the trading fees, security measures followed by the platform and other such relevant information.

Flitpay is India's leading crypto exchange that provides a seamless experience for cryptocurrency trading and INR/Crypto deposits/withdrawals without any limiting terms and conditions. This secure and robust platform has a zero-fee KYC process and a two-factor authentication system, making it a secure and transparent platform for first-time investors and seasoned traders.

Which Crypto Exchange in India Provides Bitcoin Withdrawal?

Flitpay provides crypto withdrawals for various cryptocurrencies, including Bitcoin. Moreover, there are no charges for crypto deposits and withdrawals. So, you can freely deposit or withdraw your Bitcoin holdings without any platform fees. Notably, crypto withdrawal fees are payable to the network universally, depending on the prevailing fees on the blockchain network.

How to Transfer Bitcoin from One Crypto Exchange to Another?

Choosing the right crypto exchange for trading and investment is crucial to ensure transaction safety, withdrawal flexibility and ease of use. Oftentimes, first-time crypto investors in India do not conduct adequate due diligence when choosing the best cryptocurrency exchange in India. Choosing a compromised exchange can cause regulatory, transparency and transaction execution problems.

Thankfully, the FIU has safeguarded the interest of investors by facilitating the transfer of crypto assets from one crypto exchange to another in India. Further, with the FIU issuing show-cause notices to Binance and eight other exchanges in India earlier in 2024 and Indian telecom operators blocking the website URLs and apps, crypto investors are concerned about the safety of their digital assets. Traders are increasingly looking to transfer their cryptocurrencies to FIU-compliant crypto exchanges.

We at Flitplay are proactively taking measures, in adherence to FIU regulations, to empower users to safeguard their crypto assets and seamlessly transfer Bitcoin from Binance to Flipay, an FIU-compliant and user-friendly crypto trading platform in India.

Here is a detailed step-by-step process to transfer Bitcoin from Binance to Flitpay.

Step 1:

Log in to the Flitpay website or app, go to the crypto wallet and tap on the 'Deposit' button.

Step 2:

Choose the crypto you want to transfer from Binance into your Flitpay crypto account. In this case, we shall choose Bitcoin.

Step 3:

Once you click on Bitcoin, a deposit form will open up on the Flitpay app. This will display the QR code and the wallet address that you will need to initiate the withdrawal process on the Binance app. Copy the QR code and the wallet address onto your clipboard before proceeding further.

An important point investors must note here is to only send Bitcoin through the Bitcoin chain and not any other cryptocurrency. If investors try to send other cryptos through the Bitcoin chain, there is a chance of losing the digital asset. To send any other crypto, such as Dogecoin or Uniswap, you will have to choose that crypto after clicking the 'Deposit' button.

Step 4:

Next, open the Binance app/website and navigate to the withdrawal section. Click on the token you wish to withdraw from Binance, in this case, Bitcoin.

Next, click on the 'Send via Crypto Network' option.

Step 5:

Once you click on the 'Send via Crypto Network' option, a withdrawal form will open up on the Binance app/website. Here, you have to paste the Flitpay wallet address and QR code that you copied onto your clipboard earlier. In the withdrawal form, you will also have to fill in the necessary details, such as the amount of Bitcoin you wish to withdraw and the particulars of your Binance wallet.

Step 6:

Upon clicking the withdrawal button on the Binance app, you can now shift to the Flitpay interface and wait for the transfer to be processed. Once the Bitcoin hits the Flitpay crypto account, all you need to do is fill in and verify your details by submitting a self-declaration mentioning the purpose of the transfer from Binance to Flitpay.

Step 7:

Once you complete the above self-declaration, the transfer is under process and will be duly completed.

Investors must note that Flitpay does not charge any fees for crypto deposits and withdrawals. So, if you are considering moving Bitcoin or any other cryptocurrency from another exchange to Flitpay, Flitpay levies no charges for the same. You can begin trading and investing using Flitpay with the applicable trading fees.

Which is the Best Crypto Exchange in India to Buy Bitcoin?

Flitpay is the best crypto exchange in India to Buy Bitcoin. The platform provides a seamless experience for cryptocurrency trading and INR deposits/withdrawals without any limiting terms and conditions. This secure and robust platform has a zero-fee KYC process, making it an ideal platform for first-time investors.

Here are some of the key features of Flitpay that make it India's preferred crypto trading platform:

Instant INR Deposits: Investors can deposit INR into their Flitpay wallets in less than 30 minutes through their registered bank account. INR deposits into Flitpay's exchange wallet attract a deposit & withdrawal fee every time you deposit money from your bank account in Flitpay wallet and varies depending upon the charges of payment gateways. The instant INR deposit ensures buyers can book their trade at the earliest without delay.

Instant INR Withdrawals: Instant INR withdrawal ensures investors can use their profits and crypto trading gains by transferring their withdrawals to a registered bank account. Investors must note that they attract a 30% tax on crypto transactions' capital gains, alongside a 1% Tax Deducted at Source (TDS). Click here to learn more about Crypto Taxation in India.

Lowest Fees: High trading fees, deposit fees and withdrawal fees can eat in your profits and reduce the yield of your cryptocurrency portfolio returns. At Flitpay, we have curated one of India's lowest fee structures for cryptocurrencies. We offer uniform trading fees across both the buy and the sell side of the trade. These trading fees include all organizational taxes, and their cost-effectiveness gives Flitpay a competitive edge across all leading crypto trading platforms in India. So, if you are looking to buy or sell Bitcoin or other crypto in India, Flitpay is indeed a cost-saving option.

More than 200+ Cryptocurrencies to Choose From: Whether you are looking to replicate a crypto portfolio or apply your strategy to diversify your stash, Flitpay gives its investors plenty of options. With over 200 cryptocurrencies across different sectors, such as AI, gaming, meme coins and more, Flitpay gives you access to leading cryptos that are creating ripples in the global crypto space.

Crypto Deposits & Withdrawals: Flitpay does not charge any fees for crypto deposits and withdrawals. This means one can freely transfer their portfolio of cryptos from other exchanges such as Binance, Coinbase, Gate.io and more to Flitpay without any deposit or withdrawal charges from Flitpay.

Crypto Interest Earning Option: With the 'Earn' feature. Flitpay provides a comprehensive crypto interest-earning option wherein investors can earn a reward for staking their cryptos. Bitcoin is one of the several cryptos that is available for staking on Flitpay. If you are wondering how to stake crypto on Flitpay, there are fixed earning plans based on the duration and the token in question.

Regulatory Compliant: Flitpay takes its regulatory compliance requirements seriously. From anti-money laundering to KYC, we have comprehensive processes in place to ensure that exchange operations are legal, safe, and transparent for both our traders and regulatory bodies.

User Interface: Flitpay has an easy user interface that is convenient to use even for first-time traders. With simple navigation, a clean design and simple processes, Flitpay offers an ideal platform for experienced traders and newbie traders. Just like the Flitpay website, the Flitpay app is also very user-friendly and secure, making it the best Bitcoin app in India for any first-time and seasoned buyer.

Comprehensive Customer Support: Flitpay prides itself on being a customer-centric crypto exchange with robust customer support across all its services, including registration & KYC, trading, withdrawals and more. Flitpay empowers its investors to connect through WhatsApp or Telegram, as well as raise a query over email. We offer 24/7 support to our traders.

Further, Flitpay endeavours to be a one-stop solution for all frequently asked crypto queries, providing services like staking, Gift Cards and more.

Is it possible to Buy Small Amounts of Bitcoin?

Yes, it is possible to buy small amounts of Bitcoin on a crypto exchange such as Flitpay. Just like investing in shares, there is no minimum Bitcoin investment.

Investors can buy Bitcoin for a minimum of INR 100 using the Quick Buy/Sell option on the Flitpay website or the app. All you need to do is select BTC from the list of cryptos and enter the INR value against which you are looking to buy Bitcoin. For INR 100, an investor can get 0.000019 BTC, which is INR 56 69 324 for one BTC at the time of writing.