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India is emerging as one of the largest Bitcoin arbitrage opportunities for Bitcoin enthusiasts worldwide, and several cryptocurrency exchanges are emerging that enable users to buy Bitcoin in India. With the Bitcoin live price in India surging due to the lifting of the RBI’s two-year ban in March 2020, it is emerging as one of the few less volatile forms of wealth for investors across the country.
Local crypto trading, especially on peer-to-peer or P2P trading platforms, has witnessed a massive spike in the past few months. Here’s how you can sell Bitcoin in India using engaging and user-friendly crypto exchanges!
How to sell Bitcoin in India
Understanding how to buy Bitcoin in India and sell BTC is crucial for Indians who want to delve into the crypto industry and earn suitable profits. While using a cryptocurrency exchange is one of the most convenient and popular ways of selling Bitcoin in India, there are other ways through which you can trade using this cryptocurrency.
You can find a local dealer on a crypto marketplace and sell BTC to them by using various payment systems such as cash, credit cards, Paypal, etc. It is recommended that you select a suitable cryptocurrency exchange to sell your precious BTC as they provide verified buyers and the best Bitcoin live price in India.
How to sell Bitcoin on WazirX
WazirX is one of the top cryptocurrency exchanges where you can easily sell or buy Bitcoin in India, thanks to its convenient user interface and innovative use of technology to provide its users with a hassle-free and time-efficient experience. WazirX was founded in 2018 by a group of experienced individuals with an in-depth understanding of crypto trading and blockchain technology.
Their mission is to involve every Indian in the blockchain revolution and benefit from it. WazirX has emerged as one of the most popular cryptocurrency exchanges in the country as it enables its users to sell their Bitcoin quickly in India and offers a unique feature where they can withdraw funds directly to their bank account. Here’s a step-by-step guide on how you can sell Bitcoin on WazirX:
- Create an account on WazirX
Web Sign Up
Sign up on WazirX with a few simple steps and create your free account within minutes
App Sign Up
Download WazirX on Google Play Store and App Store
- Log in to the web or the mobile application
Once you have created your free account on WazirX, you can log in using two methods. First, you can go to the web app and log in to access your account. Alternatively, you can download the WazirX mobile application in case you prefer trading on your mobile.
App Login
Download App -> Go to Settings -> Click Login
- Deposit Bitcoin into your wallet
Deposit the Bitcoin you want to sell in your WazirX wallet from your other wallets in a matter of minutes to proceed to sell it on the platform.
Go To Funds -> Choose BTC from the list of cryptocurrency -> Click Deposit
- Sell it for INR at the best price
Once you have deposited the Bitcoin in your WazirX wallet, you can sell it for INR for India’s best Bitcoin live price.
Go To Markets -> Choose BTC from the list of crypto currencies -> Click Buy/Sell -> Select Sell tab
- Withdraw funds into your bank account
Once you have sold your Bitcoin, click on the ‘funds’ option, and select ‘INR’. Then, click on ‘withdraw’ when you are redirected to the next screen.
You will get two options for this step- instant withdrawal and standard withdrawal. If you choose instant withdrawal, you will incur a small fee that can range from anywhere between INR 10 to a maximum of INR 2,00,000, depending on the volume of your transaction.
Benefits of Selling BTC on WazirX
There are plenty of benefits that crypto sellers on WazirX enjoy, and here’s why you should choose WazirX if you want to sell or buy Bitcoin in India:
- Trading experience and services across multiple platforms: WazirX offers its users the maximum operational utility since it is available both for web and mobile users in the form of applications that can be installed for Android, Windows, iOS mobile, and Mac
- USDT and P2P method: WazirX offers its users a unique option to deposit and withdraw INR while trading. By enabling users to sell Bitcoin in USDT, which has excellent liquidity, the transactions are carried out instantly. This is because USDT is a stable coin, and its value does not fluctuate like other volatile cryptos. Users can then sell the USDT they have acquired and can have the amount transferred to their bank account in INR easily.
- Live open order book system: WazirX offers its users an advanced and innovative trading interface that enables them to sell and buy Bitcoin in India through a live open order book system, and hence, enables lightning-fast INR deposits and withdrawals.
Sign up for a free WazirX account here.
Frequently Asked Questions
How Many Bitcoins Are There?
There are 18,730,931.25 Bitcoins in circulation as of June 2021. The total number of Bitcoins that would ever be there is just 21 million. On average, 144 blocks are mined every day, with 6.25 Bitcoins per block. The average number of new Bitcoins mined every day is 900, calculated by multiplying 144 by 6.25.
What Is Bitcoin?
Bitcoin is a decentralized digital currency that may be purchased, traded, and traded without intermediary like a bank. Bitcoin is built on the blockchain, which is a distributed digital ledger. Wei Dai suggested a new kind of money that relies on cryptography rather than a central authority to oversee its production and transactions on the cypherpunks mailing list in 1998. Bitcoin was the first application of that notion. In 2009, Satoshi Nakamoto sent out the first Bitcoin specification and proof of concept to a cryptography mailing group.
What Is Meant By Bitcoin?
Bitcoin is a digital currency that was initially released in January 2009. It is based on ideas offered by Satoshi Nakamoto, a mysterious and pseudonymous figure, in a whitepaper. The name of the person or individuals who invented technology has not been revealed. Bitcoin promises lower transaction fees than other online payment systems, and unlike government-issued currencies, it is decentralized.
How Can I Convert Bitcoins To Cash?
Bitcoin may be converted to cash in various ways, including crypto exchanges, Bitcoin ATMs, Bitcoin Debit Cards, and Peer to Peer Transactions. You may do this by using Bitcoin exchanges like WazirX. You may also sell Bitcoin for cash faster and more anonymously through a peer-to-peer marketplace.
Is Bitcoin Trading Is Legal In India?
In 2020, the Supreme Court of India lifted the RBI’s restrictions on cryptocurrencies. According to the Supreme Court, the existence of Bitcoin or another cryptocurrency is unregulated but not unlawful. The verdict has greatly aided the world of digital money in the country. To put it another way, investing in Bitcoin is perfectly legal, and you may do so through various apps and traders.
Is Bitcoin Cash A Good Investment?
Bitcoin Cash is a hard fork of Bitcoin formed in 2017 to address Bitcoin's scalability and challenges. Bitcoin Cash seeks to make global transactions faster, cheaper, and more secure. Bitcoin Cash is now accepted by thousands of online and offline businesses all over the world. Studied correctly, Bitcoin Cash may be an investment worthy of consideration.
What Is Bitcoin Used For?
Bitcoin was created as a means of sending money over the internet. The digital currency was designed to be a non-centralized alternative payment system that could be used in the same way as traditional currencies. Bitcoin is being used by an increasing number of businesses and individuals. This includes establishments such as restaurants, apartments, and law firms.
What Is The Meaning Of Bitcoin?
Bitcoin is a type of cryptocurrency that was first introduced in January 2009. It is invented based on the key concepts and notions presented in a whitepaper by Satoshi Nakamoto, a mysterious and pseudonymous figure. The name of the individual or people who invented technology is yet unknown. Bitcoin promises reduced transaction fees than existing online payment methods, and a decentralized authority controls it, unlike government-issued currencies.
How Does Bitcoin Work?
The blockchain, a distributed digital ledger, is what Bitcoin is based on. As the name suggests, blockchain is a linked database made up of blocks that store information about each transaction, such as the date and time, total amount, buyer and seller, and a unique identifier for each exchange. Entries are linked in chronological order to form a digital blockchain. Entries are linked in chronological order to form a digital blockchain. Blockchain is decentralized, which means any central authority does not control it.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
