Buy Bitcoin With PayTm In India

The cryptoverse has now come a long way since its inception in 2008 and now there are myriad ways to buy bitcoin in 2020 than we ever had. Some cryptocurrency exchange allow users to buy bitcoin with credit card while some allow to trade bitcoin for gift cards.

But there is also a whole new market where businesses allow users to buy and sell bitcoin via local payment options like PayTM wallet, Bhim UPI & Google Pay.

With more than 250 million monthly active PayTM users today, it shouldn't come as a surprise that many people want to use this payment method to buy Bitcoin. This is why we came up with this simple guide, it covers the tested methods and the safest cryptocurrency exchange to buy and sell bitcoin via PayTM mobile wallet.

Top 3 Exchange To Buy Bitcoin With PayTM:

The platform I have listed here are selected on the basis of following 5 crucial factors which play a major role in choosing the best cryptocurrency exchange to buy & sell bitcoin: ReliabilitySecurity 🛡️, User ExperienceKYC & AML Policy and  Customer Support 👩‍💻.

What's more is, all of these three platforms are tested & tried several times by the Coinspectus in-house team to check how reliable their services are. However, we still recommend you to verify their authenticity by yourself and take this post as a supplement to your research. All clear? Let's get cracking!

#1 Paxful: World's Leading P2P Crypto Exchange

Paxful is the world's leading peer-to-peer marketplace that offer limitless number of payment options to buy and sell bitcoin instantly. From the most popular payment methods in India like PayTM and Google Pay to the one that are least known like Freecharge, you will find it all here.

The team behind the company has developed a friendly graphic user interface that makes it easy to navigate through out the platform. They also have their own knowledge base that regularly share unique insights of blockchain technology & latest crypto trends.

Trading & Withdrawal Fees On Paxful:

Paxful does not charge any fee to buyers however sellers are charged 1% of the trade.

And when it comes to withdrawal, users are charged 0.0001 BTC while transferring coins to external wallet but if you send crypto to anyone on Paxful then there is no fees up to 5 withdrawals per month and after that Paxful takes $1 per withdrawal.

#2 LocalCryptos: Non-Custodial P2P Exchange

LocalCryptos - Buy Bitcoin With PayTM

LocalCryptos is a non-custodial cryptocurrency exchange that allow users from all around the world to connect and trade cryptocurrencies with each other. This marketplace was launched in 2017 and since then has grown rapidly. What makes it unique as compared to its competitors is that it does not hodl the user's funds & their wallet's private keys. 

While this might sound fancy at the beginning however non-custodial cryptocurrency exchange have their own perils. If in case a person loses their wallet & forgets his/her private key then there is no way exchange can help you to recover your funds.

This is why it is often said, non-custodial bitcoin exchange put the users in complete control.

It now has more than 100,000 registered users from all around the world and sees an impressive trading volume of $3 Million in a month. The platform is easy to navigate and browse offers which makes it really simple for the new investors to buy and sell bitcoin.

It offers more than 40 payment methods along with gift cards from major brands and online wallets like PayTM, BHIM UPI, PayPal and Google Pay.

Trading & Withdrawal Fees On LocalCryptos:

LocalCryptos charges 0.25% fee to the person who create the offers and 0.75% to the person who responds to the trade offer listed on their marketplace.

While they don't charge any withdrawal fee however traders are supposed to pay the network fee, which is directly paid to the miners of the respective blockchain to process the transaction.

#3. LocalCoinSwap: Banking The Unbanked

LocalCoinSwap: Banking The Unbanked

LocalCoinSwap is another non-custodial peer-to-peer marketplace that is created for the community and owned by the community. With more than 250 payment methods you can easily buy, sell bitcoin & other altcoins with PayTM. If you are a person who prefer to trade anonymously and avoid sharing personal KYC details then this is the marketplace you can look forward to.

A great platform with a lot of options! LocalCoinSwap has slowly but surely become the one of the best places to trade cryptocurrencies now days. This next generation of p2p cryptocurrency exchange supports more digital assets than any other p2p marketplace.

This Hong Kong based cryptocurrency exchange was launched in 2015 by Nathan Worsley. He is an early investor in Bitcoin and Ethereum and is passionate about blockchain and decentralization.

In 2018, this exchange raised more than $12 million USD via their native utility token LCS. The idea of this ICO was to distribute 80% of profits back to the LCS token (Cryptoshares) hodlers. 

Trading & Withdrawal Fees On LocalCoinSwap:

Fees structure on LocalCoinSwap is relatively competitive as compared to the global fees standard. It charges 1% of the trade volume to the person who creates the offer.

While withdrawal fees Bitcoin is 0.003 BTC per transaction and for DASH it is 0.0005 DASH per transaction. 

How To Buy Bitcoin With PayTM?

Buying & selling bitcoin via PayTM money is an easy 5 step process. All you need is a Paxful KYC verified account to get going. Here are the following steps to buy Bitcoins with PayTM wallet:

A. Register your account on Paxful.

B. Verify your Email, Aadhaar & Address (Takes only 5 minute, no need to wait for days and nights).

C. Click buy bitcoin & select the payment method.

D. Find the best offer & trusted seller.

E. Initiate the chat, take the PayTM details & make the payment. Once paid, attach the receipt or screenshot of the transaction and mark as paid.

Voila! Seller will confirm the payment and your coins will be released from the Paxful's escrow to your Paxful's bitcoin wallet.

The whole process is as easy as shopping on PayTM Mall. However, there are few things one must take care of while using any p2p cryptocurrency marketplace. You'd always ensure to verify the profile of the seller by checking the number of trades one has made and their reviews by other traders (Like you).

Usually if the trader's profile is KYC verified and has no negative reviews then it is safe to trade.

Over To You:

Now you are aware of the top 3 safest exchange one can use to buy and sell bitcoin via PayTM, it is the time to register and check their features, accepted payment methods, listed cryptocurrencies and the Graphic user interface.

Once you find your ideal marketplace, create your own offers to buy some BTC and let your SATS keep growing!

That would be all, I hope this is what you were looking for. If you feel the post is helpful then share it on social media.

Thank you! 💚

Yes, Buying & selling Bitcoin for PayTM cash is as easy as buying an online gift card. Paxful, LocalCryptos & LocalCoinSwap are the top three platform that enable traders to exchange Bitcoins for PayTM.
Bitcoin has always been legal in India as per the Government of India. However, the RBI does not seems to be in favor of this decision & may be this is why Bitcoin and cryptocurrencies are not regulated in India. They are not banned neither illegal, my friend!
There are many exchange available in the market but here we have curated a detailed list of 5 best world leading cryptocurrency exchange to buy & sell bitcoin.