How to Buy Wrapped Bitcoin in India — Step by Step Guide For Beginners
Buying Wrapped Bitcoin is one of the best strategies to diversify your cryptocurrency holdings. In recent years, there has been a noticeable increase in demand for the cryptocurrency. Despite the extreme volatility, some investors have made significant profits in the Crypto markets.
Let’s say you wanna buy Wrapped Bitcoin in India and you want to be able find the cheapest price with simplicity and rapidity. If so, all you’ll need is BuyUcoin Exchange to start making Wrapped Bitcoin investments. You can use your debit card, NEFT, or UPI to invest in Wrapped Bitcoin.
What is Wrapped Bitcoin?
On the Ethereum network, a tokenized form of Bitcoin known as Wrapped was developed. WBTC conforms with the ERC 20 standard of the Ethereum network. By using Ethereum’s technology, WBTC may be fully integrated into decentralised exchanges, cryptocurrency lending platforms, and other ERC-20-enabled decentralised finance (DeFi) applications.
Wrapped Bitcoin was first revealed on October 26, 2018, and it was formally launched on January 31, 2019. WBTC is also 1:1 backed by Bitcoin via a network of automatically supervised custodians and merchants, guaranteeing that its price is always set to Bitcoin and allowing users to autonomously and decentralised move liquidity between the BTC and ETH networks.
How to Buy Wrapped Bitcoin in India?
Many exchanges in India allow you to buy Wrapped Bitcoin, but you’ll need a reputable platform like BuyUcoin. You may Wrapped Bitcoin in India with more than 160 other cryptocurrencies in INR and USDT pairings by using BuyUcoin.
Buy Wrapped Bitcoinin India — Step By Step Guide For Beginners
Buy Wrapped Bitcoin in India — Step by Step Guide For Beginners
BuyUcoin is an Indian cryptocurrency exchange where you can buy and sell Wrapped Bitcoin and other cryptocurrencies. The following is a step-by-step guide to buying Wrapped Bitcoin using BuyUcoin:
Step 1 — Open a Digital Wallet
A digital wallet keeps your cash and uses blockchain technology to connect with other citizens. Before deciding what is best for you, it is necessary to undertake sufficient research. Nonetheless, there are several digital wallet providers, and BuyUcoin is presently the leading provider of digital wallets.
Open a Digital Wallet
Step 2 — Register & Open an Account
When you enter the BuyUcoin/Sign Up account, register, and build a service account, select the person or corporate form of a report. Choose your country and adhere to your Bitcoin trading account’s terms and restrictions.
Register & Open an Account
Step 3- KYC
In the Indian jurisdiction, KYC and AML are necessary. Your data is secure and encrypted, and it is only stored in Indian data centres. You are sent to another URL to complete your KYC. Please have your last selfie-ready. It is required to take photographs of your pan card, and it is vital to know the mobile number connected with your Aadhar card.
KYC
Step 4- Google 2 Step Verification
You must have the Authenticator app installed on your smartphone or tablet to use 2FA. If you activate it, you will be requested to provide a 6-digit one-time password in addition to your email and password every time you log in to your BuyUcoin account. This only works if you provide an email address and a password.
Google 2 Step Verification
Step 5- Add Bank Details
Add the credentials of your bank name, holder account name followed by account number, and IFSC code details.
Add Bank Details
Can I use regular money to buy Wrapped Bitcoin?
Yes, You can also buy Wrapped Bitcoin in India using regular money or any fiat currency in India, including INR. You can start a Wrapped Bitcoin investment by selecting an exchange to open an account, transfer money, and use your money to buy Wrapped Bitcoin. Trade in WBTC-INR or INR-WBTC currency pairs from BuyUcoin.
Getting a Wrapped Bitcoin wallet
BuyUcoin is a multi-cryptocurrency wallet that stores Wrapped Bitcoin in cold storage wallets. Hardware wallets are the most secure wallets, and they are strongly recommended if you want to keep a large amount of money in your wallet since they provide an extra level of security. Once the Wrapped Bitcoin has been delivered to your wallet, we will send you a confirmation email. Wrapped Bitcoin will appear when you refresh the BuyUcoin wallet.
Wrapped Bitcoin Exchange
BuyUcoin is one of the best exchange for trading Wrapped Bitcoin. Using an easy-to-use interface, you may even pay with your debit or credit card. When you register with BuyUcoin, you must provide your ID and address. This conforms with anti-money laundering (AML) requirements and is familiar with the legislation of your customer (KYC).
Wrapped Bitcoin will be kept in your wallet and used to buy or sell your selected cryptocurrencies without any hidden transaction fees using BuyUcoin. You have complete control over your funds with BuyUcoin Wallet. Within the mobile interface, you can receive, send, store, and exchange your cryptocurrency.
Conclusion
Since its debut, Wrapped Bitcoin has experienced tremendous growth in the bitcoin market. Because the value of the WBTC coin is determined by the price of BTC, it functions just like BTC. Wrapped Bitcoin will have provided its early investors with a significant return by the time BTC hits a new peak in 2021.
The Wrapped Bitcoin cryptocurrency is the greatest tool for programmers and engineers making more of these dApps, and it has attracted a lot of excitement from the crypto community. More significantly, it is backed by a dedicated team of experts who are exceptional scientists and mathematicians who consistently generate original investment concepts.
