Cryptocurrencies are skyrocketing right now. With Dogecoin being one of the latest to do so.
In India, a lot of people are finding it hard to invest in cryptocurrencies. This is mainly due to the fact it is unregulated and the government doesn’t actually support it. However, it isn’t illegal. You can surely buy and sell crypto.
But which is the best app to buy cryptocurrency in India?
WazirX is currently the best app for you to invest in cryptocurrency. They are currently one of the largest and trusted cryptocurrency exchange in India. I personally use this and there hasn’t been any problem for me to date.
WazirX is one of the few cryptocurrency exchanges that are available in India. They are also one of the largest one in the country.
WazirX allows you to buy and sell Bitcoin, Ethereum, Dogecoin, Litecoin and more than 100+ other cryptocurrencies. They also have over 900,000 users on the platform.
If you are interested in setting up WazirX , follow the below procedure
Setting Up WazirX
WazirX has an app for both iOS and Android. However, I highly recommend you sign up using a browser and after completing your signup, you can download the app.
So, the first step is to go to WazirX.com. Then click on Sign up now. The following page may appear. If you are asked for a referral code, please enter this – rznwnzjb
After that, you will be asked to verify your email account. Go to you email and click on verify email
Once verified, you will be redirected to a page like this, click on either SMS or Authenticator App (it’s your choice). then, follow the steps as instructed.
After your set up the security settings, you will be asked to select your country.
Then you will be asked to enter your KYC details. KYC details are a must in order for you to buy and sell cryptocurrencies. So make sure you complete it.
You will be asked to enter your PAN card, Adhaar card details. And finally, when all of that is done, click on Submit for verification.
The time for verification can take some time. It may take around 1 working day to complete.
Now that you have completed your signup, go and install the WazirX app from Play store and App Store.
How to Invest in Cryptocurrency with WazirX?
You can start to buy and sell cryptocurrencies as soon as your KYC details are approved. I’ll demonstrate how you can buy and sell crypto using the Wazirx app.
You will first need to put some money in your wallet before you can buy a cryptocurrency. To do that, open the app, and click on the “funds” tab.
If your currency is in dollar you can change it by clicking on the right hand top side of the app.
Then click on INR. This will take you to your INR wallet, where you can withdraw and deposit money.
Click on deposit to add money to this wallet. You can add money by using IMPS or NEFT methods. You can also deposit money using any UPI apps like GPay or PhonePe.
Once your amount is credited. You will be able to buy cryptocurrencies with that money.
To buy a cryptocurrency of your choice, just go to the Exchange tab. Click or search for the cryptocurrency that you would like to buy. And then click on Buy/Sell button.
Here there would be 3 fields:-
- At Price:– Amount at which you are purchasing the cryptocurrency
- Amount:- How much of the crypto you want to purchase
- Total INR:- Total INR that you want to spend on this crypto. Normally, this is where you enter the amount of money for which you would like to purchase.
Once you enter the amount, click on Buy and your order will start processing. Give it some time and then after a while you will see the amount reflected in your “Funds” tab
Congratulations on investing in your first cryptocurrency.
There are a lot of reasons why I recommend WazirX:-
- Setting up your account takes less than 10 minutes.
- Their verification team is fast. I was able to get my account verified the same day.
- The app looks clean and bug-free.
- New Cryptos are listed as soon as possible. For egs: WazirX was one of the first exchange to list Dogecoin in India
There was only one downside that I saw with the app. and it was the time for processing an order. It doesn’t happen always but sometimes when a lot of people are buying and selling a cryptocurrency at the same time. You may face a small delay.
Is WazirX the best App to Buy Cryptocurrency in India?
Yes, definitely. WazirX is surely one of the best app available in India to buy cryptocurrencies.
I believe there is still a lot of opportunity for a much more improved app in India. Apps like Robinhood are far better. However, they are not available in India for some reason.
I hope this article helped you. Share this with your friends or family who would want to know about this.
Have a great day ahead
Disclaimer – I am not a financial advisor. All cryptocurrencies are highly volatile. I am not responsible for any losses that you may incur. Please invest only after you do your own research and that you know what you are doing.