5 Things to Remember while buying Bitcoins

5 Things to Remember while buying Bitcoins

things to remember while buying Bitcoins

1. Buy Bitcoins from Zebpay (For Indian users) and CoinBase (for other countries users) because their Service is fast and their customer support is excellent and they have more secured interface.

2. Try to buy the Bitcoins after midnight as per the Indian Time because after midnight, price of Bitcoin in India gets little bit down in comparison to day time. I can’t guarantee this but while monitoring the price for many months , I have noticed the same. India a second largest consumer of Bitcoins.

3. If you want to send the Bitcoins or bits to any other user’s wallet except ZebPay instantly after buying, and you also want to save the transaction charge, then please be patient and wait for higher buying price which should be more than current buying price.

Suppose you purchased the 50,000 INR Bits at Rate of 2,50,000 INR per BTC and sending instantly at 2,50,000 INR (or close to it), then please wait for such a higher price which should cover your transaction charge.

Means if you wait for some time send it at Rate of 2,60,000 INR per BTC then transaction fees 0.5% of Rs 50,000 (Bits that purchased) is 250 INR which will be covered in your new value of purchased bitcoins which will be 52,000 INR according to the rate of 2,60,000 INR. So now if you will send the 50,000 INR in Bits to someone then even after deducting Rs 250 and Rs 50,000 , Rs 1750 will be still there in your while you have invested Rs 50,000.

 

things to remember while buying Bitcoins
4. Next is whenever you purchase the bitcoin in India from Zebpay, you will find the difference between buying and selling rate. It is because of the demand and supply varies from country to country and it also includes the taxes which are applicable while we sell and withdraw the money to our bank account.

So you must remember that when your Current selling price is higher than your buying price, at which you have purchased the bitcoin. Then only you will see the profitable amount in the wallet. So please be careful while withdrawing the money from Bitcoin to your bank Account.

5. Last is if someone has sent you the bitcoins then you must wait for selling price higher than the price at which it is sent towards you. Then you will not loose the value of those coins between the Sending/Buying and Selling price. So these are 5 things to remember while buying Bitcoins.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *