Starting trading with bitcoin and other cryptocurrencies is actually a very simple process if we are aware of what type of trader we are, and what our goals are.
To do this, in the first instance you must define what exactly do you want to do with bitcoin? Ask yourself and answer the following questions:
1) Make a profit on the fluctuations of bitcoin?
2) Protect your savings from the devaluation of your country’s local fiat currency
3) Make a profit with bitcoin in the long term as it is the “digital gold”?
4) What are my financial possibilities to buy bitcoins in India, or fractions of bitcoin?
5) What type of currency do I have to buy bitcoin?
Based on all these answers, you can more easily define how to buy bitcoin in India? And consequently start trading bitcoin and other cryptocurrencies.
Below we will show you the various options to buy bitcoin in India and start trading, so that you can choose the one that best suits your needs:
The cryptocurrency Broker is one of the most recommended for users who are starting to trade bitcoin in India.
This is basically because it is much easier to use, because the interface is much friendlier.
In addition, Brokers act as an intermediary between the traditional Exchange and the user who wants to buy bitcoin or another cryptocurrency. Likewise, the Broker establishes its own prices for the purchase and sale of bitcoin from India or another country within its platform. The Reason why it is to understand that the internal indicators of a Broker are not necessarily the same as those of the global crypto-market.
In conclusion, for an inexperienced person who wants to start bitcoin trading in India, cryptocurrency Brokers turn out to be quite a functional theoretical and practical guide.
Examples of Brokers that provide their services for beginners to buy bitcoin and start trading in India are: Coinbase and eToro.
Despite the fact that it is aimed at those who have more knowledge about cryptocurrency trading, especially in the technical aspect, a beginner can perfectly start trading bitcoin in India through this exchange modality.
Proof of this is that traditional Exchange such as Binance, thinking about this, has even adapted three types of way of trading for Indians and all citizens of the world.
These three ways are:
- Convert (Basic): Where you can buy bitcoin in India or other cryptocurrencies, without any distraction from charts, indicators or advanced options.
- Classic (Intermediate): Where despite having the presence of charts and indicators for trading cryptocurrencies peer-to-peer, it is still quite easy if beginners do a little study.
- Advanced (Professional): A level…