Bitcoin is trending and everyone all over the world wants to be the part of this revolutionary Cryptocurrency. So, I trade bitcoin in 2017 and becoming the part of this. Are you one of them too? I was tempting to trade bitcoin online since April 2017 and finally invest for the first time in bitcoin at the end of November 2017. Although, I missed the rally and still I invested and trade bitcoin online on Unocoin.
Bitcoin hits an all-time high recently and trading above $10K. Analyst across the globe believe that bitcoin has the potential to return you more than 400% by the end of 2018. So, it is better late than never for me and expects the price of bitcoin to rise further.
In the beginning of 2017, I was planning to trade bitcoin online. However, I was scared to invest in it as I was not aware of it much. I started to know more by doing research on bitcoin and other Cryptocurrencies. Digging further, I came to know the risk associated with bitcoin trading and the technology it uses. Before trading, I also need to know which is the best bitcoin trading platform and how much I will be charged while trading.
Read Also: 5 Awesome Bitcoin Facts That You Must Know
How I Trade Bitcoin Online For The First Time In 2017
So, I tried to learn and know everything related to bitcoin before investing. I prefer Unocoin for trading bitcoin and you can choose any of the bitcoin trading platforms available in India. If you also want to have bitcoin in your wallet, then follow the guideline.
Get Your Documents
Gather all your documents like PAN card, Address proof, latest photograph and scan them properly in JPEG format. You also need to have a valid email id and mobile phone number, before you register and open an account with any of the bitcoin trading platforms. I register with Unocoin and is absolutely free of cost. However, there are many bitcoin trading platforms available in India.
Register With Unocoin Bitcoin Wallet
To register with Unocoin bitcoin wallet, visit www.unocoin.com and click on Sign Up button. Enter your valid email id and secure password into the Sign Up form. Once you submit it, you need to verify your email id by clicking on the link provided by Unocoin. The link will redirect you to Unocoin Terms and conditions page. All you need is to accept it and your registration process will be done successfully.
Verify Account Details
Sign In with your email id and password and enter all the relevant details like Name, Phone number, PAN number, Address and click on the “Next” button. Upload your scanned PAN card, photo, and address proof. Before uploading check your name is on the Address proof and submit it.
Now just visit Unocoin Dashboard and you will see that your account status is pending. Once the verification process is over, you will see your account get verified and will be shown on the dashboard. After verification only, a bitcoin wallet address is generated and so you can now start buying, selling, and store bitcoin.
Deposit Funds To Your Bitcoin Wallet
To deposit funds on Unocoin Bitcoin wallet, just visit Deposit INR page and enter the desired amount to transfer. At present, you can only transfer through NEFT/RTGS/IMPS from your registered bank only. You will get a reference number from your bank, once you transferred the amount. Enter the reference number in your Unocoin account in the Deposit INR page.
After 3-4 working hours, you will be able to view the amount on your account dashboard. Sometimes it may take little more time and so be patient. When it is successfully processed, you can go for buying bitcoin.
Trade Bitcoin Online After Depositing Funds
You can start trading when you see INR balance on your account dashboard. All you need is to click on ‘Buy’ or ‘Sell’ bitcoin button and enter an amount that you would like to invest. While purchasing, you can opt for Unocoin wallet or to a third party bitcoin wallet address.
After buying you can also sell bitcoin from your Unocoin wallet. Once your sell order gets confirmed, the amount will get credited to your bank account within 3-4 working days. You will receive the amount via NEFT/RTGS mode to your registered bank account only.
Send and Withdraw Bitcoin From Your Unocoin Wallet
You can easily send bitcoin to your other bitcoin wallet address or to one of your friend’s bitcoin wallet address. Moreover, you can also send bitcoin to any email address that has been registered on Unocoin. However, you can also send to the unregistered email id and recipient email id user can only claim its bitcoin once it registered with Unocoin only.
To send bitcoin, go to the Send/Receive bitcoin link and enter the bitcoin address or email id of the receiver. After that enter the BTC amount and hit the ‘Send Money’ button.
I hope after reading this post, you will get some ideas on how you can enter the world of cryptocurrency. Share your views in the comments section and let others also know your experiences on bitcoin trading.
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Last updated: Mar21,2018