About Bitcoin (BTC)
Bitcoin is a completely decentralized digital cryptocurrency. Unlike US dollars that you can hold in your hand (or in your bank account), there is no central authority or centralized payment system controlling Bitcoin. Instead, Bitcoin operates in a peer-to-peer network that allows anyone in the world to send and receive Bitcoin without any middleman (like a bank, central bank or payment processor).
If you’re ready to take the next step and want to buy some Bitcoin, take the next step with NeoFi.
How to Buy Bitcoin In India
Create a free account on the NeoFi Website or the App
Create a NeoFi account on NeoFi's website or on the NeoFi app by following the shown. After successful registration, complete the KYC section in order to activate your account. Once the KYC is completed and verified, you are good to start buying Bitcoin on NeoFi.
Recharge Your NeoFi Wallet
You can recharge your NeoFi wallet using UPI, Bank Account Transfer, and IMPS. Simply go to Wallet and click on Deposit. Choose the amount you want to recharge your wallet with and select the payment method. Once the payment is successful, the amount will be credited to your NeoFi wallet.
Tip: Use IMPS when using Bank Account Transfers to deposit money to your NeoFi wallet. This will ensure that your money is deposited instantly to your NeoFi wallet.
Purchase your first Bitcoin (BTC) on NeoFi
Once your NeoFi wallet is recharged, you can start buying Bitcoin. Go to the Buy/Sell section and select Bitcoin. Choose the amount you want to buy and click on Buy. Once the payment is successful, the Bitcoin will be credited to your NeoFi wallet instantly. You can check your Bitcoin balance in the Wallet section.
Next Steps: You can now start trading Bitcoin on NeoFi. You can also hold Bitcoin in your NeoFi wallet and earn interest on it (coming soon).
Buying, Selling, Investing, Transferring and Holding Bitcoin is legal in India However, it does not have a legal tender status. This means that Bitcoin and other cryptocurrencies can not be used to settle debts in exchange for any type of goods or services. Cryptocurrency is taxed under the category of virtual digital assets.
On the NeoFi platform, the minimum purchase amount for buying Bitcoin is INR 1000. However, this can change, and please go to the Bitcoin trading page to know the latest amounts.
Since 2020, Crores of Indians have invested in cryptocurrencies, and with the number going up every day. Indians look excited for the crypto revolution. The government is also actively trying to set up a regulatory framework for its smooth functioning, the recent MCA amendment being the first step.
Yes, you can directly buy Bitcoin in India on the NeoFi platform. Simply, register for NeoFi, top up your wallet, and buy your first Bitcoin.
Using Neofi you can buy more than 100+ cryptocurrencies in India. NeoFi has simplified crypto buying, selling and investing for Indians, and you can begin trading in crypto with just ₹100. You can also earn rewards for buying crypto through NeoFi.
Yes, you can convert Bitcoin to cash on the NeoFi platform. To do this, simply go to the trading page, choose Sell Bitcoin, Enter the amount you want to see and click sell. The selling is instantaneous.
NeoFi allows you to earn free Bitcoin (and other cryptocurrencies) by taking part in referrals. Simply, refer NeoFi to your friends, and you get their trading fee as Bitcoin whenever they trade. Additionally, if your referral trades over a certain amount, you will receive an additional bonus.
Unlike other crypto exchanges, Neofi pools liquidity from leading crypto exchanges globally to enable users to trade in cryptos at the best rate. Additionally, NeoFi platform features 24/7 customer support, and robust security for your assets.