Bitcoin, and Cryptocurrency in general, is on the rise in India. Though Bitcoin came into existence in January of 2009, the “Crypto Wave” came to India a bit late. But as they say – “Better Late Than Never”. Now some people want to dip their feet into the world of Cryptocurrencies without burning a hole in their pocket. So in this article, we will show you how you can buy Bitcoin for 100 Rupees.
On 6th June 2021, the price of a single Bitcoin was Rs. 27,74,814/-. So to buy a whole Bitcoin, you would have needed near about 28 Lakhs Rupees. But now it is possible to buy Bitcoin with just Rs. 100/-.
So the next question that comes to mind is –
Where Can You Buy Bitcoin for 100 Rupees?
First of all,
Just like when you buy stocks, you need a Stock Exchange like National Stock Exchange (NSE) or Bombay Stock Exchange (BSE) to facilitate your order – In the case of Cryptocurrencies, you will need a Crypto Exchange to facilitate the Buying and Selling of Cryptocurrencies.
With the recent boom of Bitcoin and Crypto in India, many Crypto Exchanges popped up in India, too. But, choosing the right one among the chaos can be a nightmare.
Characteristics of a Good Crypto Exchange
- Multiple Crypto Coins and Tokens Listed in the Exchange
- Regularly Adds New Coins and Tokens
- Robust Security Measures
- Easy to Use Interface for both Traders and Investors
- Provide Handsome Interest on Holding (HODLing) Cryptos
- Easy to Deposit and Withdraw Funds
- Supports Local Fiat Currency (In our case, INR)
- Provide Features like SIP for Cryptos, Fixed Deposits for Cryptos, etc.
- Supports Tokenomics Policy of Different Coins or Tokens
- Outstanding Customer Care and Service
Founded in December of 2017, BitBns is one of the Premier Crypto Exchanges in India. And BitBns ticks on all the points mentioned above.
BitBns has hundreds of Crypto Coins and Tokens listed on their platform, and the team behind BitBns regularly adds new Coins and Tokens.
The platform has State-of-The-Art security measures with 2-Factor Authentication. The customer service of BitBns is also top-notch.
The customer service team not only reply to emails queries, but they are also very active on Twitter, solving issues faced by users.
You can easily deposit funds from your Bank Account to the BitBns Fiat Wallet using UPI. BitBns also support PhonePe, Google Pay or GPay, Paytm, and the good old Bank Transfer. You can also use Mobikwik to deposit funds using Credit Card, Debit Card or Netbanking.
Money Premier Investment Tip
Investing using a Credit Card is not a very good idea, and we at Money Premier definitely DO NOT recommend doing it.
Investing borrowed money, in general, is never a good idea.
You can also easily withdraw funds to your Bank Account using Bank Transfer.
And the most interesting point and what makes BitBns unique is that they pay interest for just holding (in the world of crypto, it is called HODLing) cryptocurrencies in your crypto wallet.
BitBns pays a very lucrative interest, ranging from 10% to 20%, for investing in Fixed Deposit for Cryptocurrencies.
And most importantly, you can Buy Bitcoin with Just 100 Rupees or even lower.
So, if you want to create your own BitBns account, click here. BitBns does not charge any fees or money for account opening.
Also, BitBns gives 100 Rupees worth of Bitcoin as a gift for verifying your KYC.
How To Buy Bitcoin for 100 Rupees?
Once you have created your BitBns account and have completed the KYC verification process, please follow the Step-by-Step procedure mentioned below to buy Bitcoin with just Rs. 100/-.
Step by Step Guide for Buying Bitcoin with Rs. 100/- in India
Here we are going to show you how you can buy Bitcoin for 100 Rupees. The Crypto Exchange we have used for this guide is BitBns. So, if you want to buy Bitcoin or any cryptocurrencies for that matter, please follow the steps mentioned here.
Before we start with the guide, we want to remind you that, to take full advantage of the BitBns platform, you need to have KYC verified account.
Also, your Fiat Wallet should have sufficient funds.
Step 1 – Login To Your BitBns Account
Visit the BitBns website.
Click on the ‘Log In’ button present in the top right-hand corner.
Once you are on the sign-in page, enter the Email ID and Password you have assigned to the BitBns Account and then click on the ‘SIGN IN’ button.
There might be a picture puzzle verification placed for added security. Use the slider to complete the puzzle.
If you have enabled 2-Factor Authentication then enter the 2FA Authentication Code generated on your Authenticator App.
Once you have entered the correct 2FA Code, the system will automatically log you in.
If the system is not automatically logging you in, then click on the ‘VERIFY’ button.
Once you are logged in, you might be greeted with a Dos and Don’ts List. Read the list carefully and then click on the ‘I AGREE WITH THE ABOVE POINTS…’ button.
Step 2 – Go to The Wallet of Your BitBns Account
Once you click on the ‘I AGREE…’ button, you will land on the homepage of the BitBns website.
Now hover your mouse pointer on the ‘Wallet’ button present on the top menu bar.
A drop-down menu will appear.
Click on the very last option of the drop-down menu named ‘See All Wallets’.
Step 3 – Search for the Name of the Cryptocurrency You Want to Invest in
Once you click on the ‘See All Wallet’ button, you will land on the page showing the details of your BitBns wallet.
To search for your desired Crypto Coin or Token, click on the ‘Search Bar’ shown in the above image and start typing the name of the crypto.
Please check that your Fiat Wallet has sufficient funds.
Step 4 – Click on the ‘TRADE’ button
Once you find the coin you want to invest in the list below, click on the ‘TRADE’ button.
Step 5 – Choose the Pair You Want to Trade
Once you click on the ‘TRADE’ button, a Pair Confirmation Window will pop up, asking you to select the pair you want to trade or buy.
Some Crypto Coin or Token will have pair with both Tether (USDT) and the Indian Rupee (INR). You need to choose which pair you want to use.
To select the pair you want to use, click on the ‘TRADE NOW’ button below your desired pair.
In this example, we will choose BTC/INR as we are going to buy Bitcoin using Indian Rupee (INR).
So we will click on the ‘TRADE NOW’ button present below the BTC/INR Pair.
Step 6 – Check the Details of The Crypto You Want to Trade
Once you click on the ‘TRADE NOW’ button, a page with all the details of the particular Crypto will open up.
The page will contain details such as a Price Chart, Order Book and Trading History of that particular crypto, etc.
This is the page from where you want to place your order.
Step 7 – Order Placement Window
The Order Placement Section is present on the right-hand side of the page.
There are 3 main sections you need to focus on.
1. Volume – It is basically the number of coins or tokens you want to buy.
2. Price – Cost of a single coin or token.
3. Amount – How much money do you want to invest in that particular coin or token.
Inside the Order Placement Section, you will also be able to see the balance inside your Fiat Wallet.
And below that, how much BitBns is charging for facilitating the order. You can think of the fee as a brokerage charge.
Step 8 – Place Your Buy Order
You need to fill up –
in the Order Placement Section.
As we are going to buy Rs. 100/- worth of Bitcoin, we will edit the Order Placement Section accordingly.
Let’s start filling up the Order Placement Section.
1. Volume – We will leave the volume section empty and we will let the system fill it up for us.
2. Price – We want our buy order to execute when the cost of a single Bitcoin is Rs. 27,90,000.00/-. So we will write Rs. 27,90,000.00/-.
This price will vary from time to time.
3. Amount -As we want to buy 100 Rupees worth of Bitcoin, so we will enter 100.
As you can see, once we entered the ‘Amount’ value, the system automatically filled up the ‘Volume’ section.
That is the number of Bitcoin we can get with 100 Rupees at Rs. 27.90 Lakhs Per Bitcoin.
Check that you have entered all parameters correctly.
Once you have reviewed your order, click on the ‘BUY’ button.
Step 9 – Confirm Your Buy Order
Once you click on the ‘BUY’ button, an Order Confirmation Window will pop up. Click on the ‘YES, CONFIRM BUY ORDER’ to confirm and place your order.
Step 10 – View Your Open Orders
Now, your Buy Order is in the Open Order Section.
Until a Matching Opposite Order (In this case, someone places an order to sell, 100 Rupees worth of Bitcoin at Rs. 27,90,000.00/- Per Bitcoin) is met in the market, your order will sit in the Open Order Section.
Once the market has a Matching Opposite Order, your order will get executed.
You can view your open orders in the ‘Your Open Orders’ section, placed just below the Order Placement Section.
You can also hover your mouse pointer on the ‘More’ button (As shown in the above picture), a drop-down menu will appear.
Select the very first option ‘Your Orders’, and you will be able to see all your open orders at the moment.
And once your order is executed, the Crypto you just bought (In this case, Bitcoin) will reflect on your BitBns Crypto Wallet.
If you have followed each step of the process mentioned above, then you have just bought Rs. 100/- worth of Bitcoin.
And if the market had an Exact Opposite Order, then your order was executed, and the Bitcoin which you just bought is in your BitBns Crypto Wallet.
To verify whether your buy order was executed or not – Scroll down to the very end of the page, and you will see a section called ‘Recently Completed Orders’ (As shown in the above picture).
If your order was executed, it will be shown here.
You can also check the Wallet section of your BitBns account. All the Cryptos that you buy will be stored here.
Once you have your BitBns Account KYC Verified, it is super easy to buy Cryptocurrencies. Transferring funds into your BitBns Fiat Wallet using UPI is another plus point for BitBns.
And one of the unique points is, you can buy Crypto Coins and Tokens as low as Rs. 10/-, Rs. 20/-, Rs. 50/-, etc.
In the above example, we just bought Bitcoin worth 100 Rupees. But you can place buy orders for as low as Rs 50/-.
Even in the stock market, if you want to have quality companies in your portfolio, you need to shed thousands of Rupees.
But using BitBns, you can buy Bitcoin (Also called Digital Gold), Ethereum, Cardano, and many more top quality Cryptos, with just pennies.
So, we definitely recommend BitBns as a Crypto Exchange, if you want to dip your feet into the world of Cryptos.
Click here if you want to open a free BitBns Account. BitBns also gives you Bitcoin worth Rs. 100/-, when you verify your KYC.
That was it. We hope this Pictorial How-To Guide was helpful for you.
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Do share this article with your friends and family if they are into Crypto too.
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And as usual, in the end we will say –
Good Luck and Happy Investing! 😊
Disclaimer: The views, investment tips, presumptions, and calculations expressed on Moneypremier.net are not of the website or its management. This article is for Educational Purposes only. Moneypremier.net advises users to check with certified experts before making any financial decisions.
Ownership Disclosure: People associated with Money Premier (https://moneypremier.net/) have stakes in the Cryptocurrency/ies discussed in the above article.