You can use the Cofinex P2P platform to buy Bitcoin in India. There are multiple ways through which you can buy Bitcoin in India via Cofinex P2P. You can use UPI Payment modes, NEFT, IMPS & other bank wire transfers to buy Bitcoin in India.
Steps to buy bitcoin in India
- Go to Cofinex P2P market. Click here
- Select the mode of payment (either UPI or Bank Transfer) and enter the amount of INR you want to buy Bitcoin for.
- Make the INR payment to the merchant and submit the RRN number (Ref No).
- Wait for the seller to confirm your INR payment. Once the seller confirms the payment, Bitcoin will be released into your Cofinex account wallet.
Payment Method to buy Bitcoin using UPI (Paytm, Phonepe & GPay)
UPI stands for Unified Payment Interface. It is India’s one of the best payment methods which is instant, secure, and free. UPI payments are enabled by a number of Indian payment apps like Paytm, PhonePe, and Google Pay.
Payment Method to buy Bitcoin using Bank Transfer (NEFT, IMPS & RTGS)
NEFT, IMPS, and RTGS are different forms of Bank Wire transfer. IMPS & RTGS have instant settlements while NEFT settlements are done in batches. However, for a small transaction value, IMPS and NEFT are the best. That being said, different banks have different sets of rules. We recommend you to check with your bank.
FAQs to buy Bitcoin in India (QnA)
What is the fee to buy bitcoin in India?
Cofinex P2P platform offers a ZERO percent fee to buy Bitcoin in India. Many other exchanges in India generally
charge around 0.2 to 0.4% trading fees. But the Cofinex P2P platform does not charge anything on buying Bitcoin in
India.
How safe it is to buy bitcoin on Cofinex?
Buying Bitcoin on Cofinex is very safe. Cofinex P2P lists only KYC Level 2 verified merchants on its platform and
the P2P trading is facilitated using the escrow system where crypto assets are locked and is released only
when both parties confirm the payment. If any discrepancy is found, it is immediately solved by Cofinex’s local
customer support representative.
Is it legal to buy Bitcoin in India?
Yes, it is absolutely alegal (alegal=no regulation at the moment) to buy Bitcoin in India. Although, Bitcoin is not a
legal tender. This means Bitcoin cannot be used as a mode of payment. However, you can definitely buy, sell and
store Bitcoin.
