There has been a huge increase in the value of bitcoin recently which had made many investors think how they too can invest in it. In the beginning of 2017, the price of one bitcoin was under $1,000. As of September 15, 2017, the price of bitcoin has reached $3056.08.
This has made investors curious on where and how to invest in bitcoin in India. There are various digital currency exchanges that allow buy and sell of bitcoins on internet. Here is information on few of them:
Zebpay is India’s first bitcoin company to launch simplest mobile Bitcoin wallet app that enables bitcoin transactions using mobile number. The company is headquartered in Singapore with IT office in Mumbai, Maharashtra and Ahmedabad, Gujarat, India. The company was founded by Mahin Gupta in late 2012 under the name Buysellbitco.in. Later it was rebranded to Zebpay in September 2014 adding two more partners – Saurabh Agrawal and Sandeep Goenka. Using Zebpay wallet app, users can buy, sell, store, spend bitcoin & recharge airtime using mobile number and a 4-digit pin. In September 2017, Zebpay crossed 1,000,000 downloads on Android and iOS stores combined.
Unocoin is another leading bitcoin company in India that enables users to buy, sell, store, use and accept bitcoin. It was founded in July of 2013 in the town of Tumakuru, Karnataka. Later the company shifted its major operation to Bengaluru. Unocoin received its initial kickstart when renowned Bitcoin Investor Barry Silbert invested 250,000 USD in Unocoin making it the first bitcoin investment in the country and in three years the company has drawn more than 30 top investors from 5 countries. In September 2016, Unocoin had raised $1.5 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. Funding was sourced from well-known investors – Blume Ventures, ah! Ventures, Mumbai Angels, Boost VC, Digital Currency Group, FundersClub, Future Perfect Ventures, Huiyin Blockchain Ventures. The company claims to have over 1,30,000 customers.
Someone had mentioned CoinSecure.in to me as an alternative to Zebpay and Unocoin, especially good for those who are looking to trade rather than just having a Bitcoin wallet. And I have to say, I love Coinsecure!
The spreads on CoinSecure are the best, usually between Rs 500 – Rs 1000 between buying and selling price. This is a huge difference vs Zebpay or Unocoin (Rs 4000 – Rs 5000 spreads nowadays).
Then Coinsecure is a1 real time trading platform with open ledgers (the openness that Bitcoin is supposed to be!) — so you can see all live exchange trades (buying, selling, volumes, etc. This is something that is completely obfuscated in Zebpay and Unocoin, so you always wonder how they set their rates!
There is a 0.3% exchange trade fee on all transactions on Coinsecure, which is quite reasonable. You also have to transfer funds from your bank account via NEFT. This can sometimes take up to 12 hours to process. Also the negative side is the UI of the interface does get confusing somewhat, and it would be good for the Coinsecure team to refine it. and the signing up process is similar to Zebpay / Unocoin (there is a KYC process).
If you are looking to trade Bitcoin in India, look no further than Coinsecure.in!