Want to convert your BTC into Indian rupees? Or want to exchange it? Here we will know the process and the solution.
Bitcoin reached 60K USD and many of you definitely would like to withdraw it INR or USD. Or you might have the interest to purchase from your bank account. Here is how we can do it easily.
Bitcoin’s popularity made people show interest in cryptocurrency, especially Bitcoin (BTC). And then many countries have banned it. Banks stopped working on cryptocurrencies and some have shown interest in developing their own coins.
Yes, banks have no activity on cryptocurrency but you can still invest, trade, and exchange it through P2P. Here banks or governments have no responsibility for loss, you do it at your own risk.
Person-to-person exchange
You are responsible for your own actions in the cryptocurrency world. Yes, there are applications to put your hands in the crypto world. And you can convert BTC into INR (Cryptocurrency into fiat currency).
Person-to-person exchange helps you to do it. You find a person who is interested in it and you confirm the cost that he is offering to your coins.
Introducing wazirx
Wazirx is India’s most trusted Bitcoin and cryptocurrency exchange. A global digital community, its exchange has a simple and easy-to-use interface and is safe. Developed by Zanmai Labs Pvt Ltd. in 2017, Mumbai(headquarters).
Buy and sell Bitcoin, Litecoin, Ethereum, Ripple, and many other cryptocurrencies. Directly purchase from your bank account or transfer to a bank in fiat currency.
How to get started with wazirx?
Registration is easy as we all do with any other investment/exchange app. Fill out the form and complete the KYC process. Then wait for the approval and you are done.
Scan and upload the required documents. And for your video shoot, they will send you a link to use the comfortable device. I used my smartphone and took the shot in my room where the light was good.
Steps to convert
As it is a global platform, the preferable currency is USD so members can have more chances to get quick action. Then into USDT if members are interested in crypto trading.
As you see in the image, a few options are provided. I used the NEFT withdrawal and directly converted it from BTC to INR. (Didn’t bother to USDT and P2P waiting then confirm)
For BTC to INR, you can choose direct conversion without people-to-people interaction. If you want to sell your BTC to others, then you have to first convert your BTC or other coins into USDT and then wait for people’s requests. Then you decide if you accept the rate or not.
If you are only to convert from crypto to fiat currency or vice versa, then you can skip to USDT for the Indian rupee(INR).
For traders, after adding the crypto coins you have to convert it into USDT. First, see the current rate and then convert it. Of course, everyone would like the highest rate, so see how much you can receive.
Now you can sell it or start trading in the crypto world.