I have invested in bitcoins through Zebpay,So I can answer this question.Many of the readers also asked me about this.
As a newbie there are many questions and hesitation in the mind regarding bitcoin investment and proper procedure to follow because its related to our hard earned money.And the amount is also not small to start with so one should require proper step by step procedure for trading.
If we are talking about bitcoin,according to me Zebpay is secure and easy option to start with even if its charging little bit extra.
I tried to give pictorial (Images) representation for this whenever its possible,for that I have concatenated my current as well as new account of zebpay for this,Hope this will solve your problem for easy going.
Note: I have given the steps to create a account on Zebpay mobile app.I recommend mobile app for newbies because its very easy to track current rates(through Notifications),If you want to trade intraday. But still if you want to go for Desktop application,the procedure and option will be same.
You can expect this as a long answer,because I have inserted each and every snapshot to understand.
Here we go..
First you need to create the account on zebpay to start with,you can follow this link – Zebpay ,which you will get free bitcoins worth RS.100. When you will installs the app,the first window will be like..
Then it will ask for mobile number you want to signup with..Enter mobile number-Accept and Continue..
Then it will redirect you Verify OTP page(Auto filling)..
Click on Verify,it will redirect you to next page that your phone number is verified.then click on Setup account pin..
Next screen will show you as security pin setup,That is four digit(Numeric) code,its very important because,it will be required every time while buying or selling bitcoins..
Now,its time to enter your personal details..Enter name, email id,your photo(Not mandatory) with suitable details.You also need to verify the email id by clicking the verification link received on your email id.After verification ,you will be able to see tick sign in front of Email id.
2. Exploring Menus
Now its all set and you are all ready to go and check the rates and other information in your account..
Now its time to explore the option provided..
Some of the options are
my address– The wallet address on which your bits are stored ,you can share this address to receive payments on this wallet.
Verification-Its very important, I will give details in further in next heading point.
Statement-It will show your transaction history (selling,buying,free bitcoins earned etc.)If you have just created the account you will see transaction like..
Rate chart- It will give you fare idea about bitcoin rates from last week,month,year..
Free bitcoins – You can enter promo code and earn free bits and also you can refer others ,when they do transaction you will get 0.10% of their bits every time.
These are the important menus you will need to use inorder to understand the rates and transaction history.
3. Mandatory Verification
Now the important part,If you are trying to buy bitcoins..at this situation(Before verifying) you will get the error some thing like this..
In order to eliminate this message and start trading, you have to verify your account with bank details and Pan card,its Just like KYC.. For this you need to click on Verification from right side pan.
There is a four step verification for this..
Email – In this you just need to verify your email ID with received Link on the Email,If you are already verified then you can see approved label at the top.
Pan card – Enter you name, Pan card details properly.
Bank – Enter the bank details from which you want to deposit the money in your zebpay wallet.
Adhaar – Take snaps of your adhar card (front ,back) and enter your current address and press submit.
Carefully fill all the information in this section,without approving all the tabs you can not go further for your bitcoin selling/buying.
4. Lets buy it.
Now its time to start real wealthy drama..Buying the bitcoins..
When you open your app,you can see two rates over there..
Before start trading,lets understand what are these rates..
Buy – this value refers to the rate for which you are going to purchase the bits.
Sell – this value refers to current selling rate.
Purchasing your first bits..
For example..In above image the buy rate is Rs.2,95,003 suppose I am purchasing 1 Bitcoin now..I will get 1 bitcoin for this rate. And if I have 1 bitcoin in my zebpay wallet and I want to sell it now for above rate. It will get sold for Rs.2,89,643. So that will be about 5k difference in these two values..So,while buying consider the buy rate and while selling keep eye on sell rate.This difference is always fluctuating. Some times it may be 5k or some times its 2k.
So,For purchasing a bitcoins first you need to raise a request in deposit option then, zebpay will transfer that amount into your Zebpay wallet, and then you can convert that amount into Bits..
Suppose We have requested deposit of Rs.20000, Follows the snapshot..
And according to your convenience you can choose the deposit option i.e RTGS/NEFT/IMPS or Payment gateway(Netbanking), for netbanking its asking for some charges to deposite because its instant but I will suggest you all to go with IMPS,because its free and normally it takes 4–5 hours or less than that.
After clicking on RTGS/NEFT/IMPS, Zebpay will provide bank details like Bank account, account holder name, branch, IFSC code.You need to deposit the desired amount in that bank account in 24 hours.After depositing in the account you need to give Transaction ID of your transaction made or simply submitting the photo of the statement from your net banking transaction. They will verify if the amount is deposited, and then they will encash the same amount in your Zebpay wallet(In above snapshot,you can see Rs.20000 is my wallet balance.)
Now,the money is in your wallet,you are one step away from buying bitcoins. Keep monitoring the bitcoin rates and buy accordingly when its lower.
Suppose ,You want tobuy bitcoins worth of Rs.10000,It will show as above and you will also get to know how much bits you will get for Rs.10000.Then click on buy and app will ask security key to confirm.And that’s it,You have bought your first Bitcoin/bits for you. You can check your balance like..
With available wallet balance in zebpay wallet also.
If you want to keep this bits for long,just keep it as it is or if you want to sell and buy intraday basis, you need to observe everyday,every minute..Because, on Zebpay the rates are updated for every 10–15 seconds.
Selling your bitcoins..
Selling bitcoins also follows the same procedure.. that you need to click on sell bitcoin,it will show you the current selling rate and worth of bitcoins for your amount.Just enter the 4 digit security key after that and DONE.After selling the bits that amount will be deposited into your zebpay wallet in INR and after that you can keep it in your wallet for future transactions or you can also transfer it into your bank account,It hardly takes 1 working day to reflect it in your bank account.
Zebpay is also used to recharge or to pay your bills..In which your bits will be used as a cuurency..
You can also track your transaction history from menus..My transaction option..
That will only show your buy,deposit,sell transaction from bank account.
I hope this procedure will surely help you for your bitcoin trading,I tried my best to elaborate in a simple way..Still if you have any doubt..You can ask in comments..
Note: Invest only that much amount in crypto market,which you can afford to lose. Because the fluctuation of the rate is very high..one can not guarantee about it.
Use your common sense to spend your money and use your talent to manipulate and increase it.