Not everyone has the computing power to mine Bitcoin, but this does not mean they cannot buy cryptocurrencies—what you really need is just an account on a cryptocurrency exchange like WazirX.
Bitcoin uses blockchain technology and cryptographic keys to connect buyers and sellers. It can be used for transactions and countries like El Salvador have even made it legal tender. For small economies and businesses, it offers a third-party-free transaction medium that helps reduce transaction and transfer costs.
It is supported by Binance, the largest cryptocurrency exchange in the world, and with the QuickBuy feature, you can start investing from ₹100 up to crores of rupees within 60 seconds.
The cryptocurrency market has seen significant growth in India. Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT), Solana (SOL), Cardano (ADA), U.S. Dollar Coin (USDC), XRP (XRP), Terra (LUNA), and Polkadot (DOT) have gained popularity, prompting both investors and skeptics to take a second look.
Investments in the crypto market have seen extraordinary growth, ranging from 100 to 1000 times over the past year. However, if you plan to open a crypto trading account, you should understand every aspect of the crypto market before you start investing.
How to Open a Crypto Trading Account?
The process for opening a crypto trading account is very simple and straightforward, but you should do proper research before entering the market. WazirX is one of the most popular cryptocurrency exchanges in India, and you can open an account by following these simple steps.
- Download the WazirX app. You can also visit their official website at https://wazirx.com/invite/quqtcaf4.
- After downloading the app, fill out the registration form, which will ask for your email and password.
- Verify your email by finding the verification link in your inbox. You will be prompted to read all terms and conditions before ticking the checkbox.
- Before you can start, you need to complete different KYC (Know Your Customer) procedures required by various exchanges.
- Users will be asked to select the most suitable security option. Additionally, users have the option to choose a security feature using their registered mobile number, as an OTP will be sent to that number. Users can opt out of security features, but this is highly risky, especially for large transactions or sharing important information on the app. The chosen security option will help keep your account details safe and secure.
- New users should note that the app is designed specifically for residents of India.
- Furthermore, to perform smooth transactions, one must achieve verified KYC status. This is necessary if you wish to withdraw your invested amount in the future. If you only wish to do research, you can delay the KYC process until you are comfortable.
After uploading all required documents, the cryptocurrency exchange will return with confirmation. Once you receive the confirmation, your crypto account will be ready, and you can start your transactions.
