Step to buy your first Crypto Currency (Caution, Read all risks)
Surya Someshwara
Investing in crypto is very risky due to high price volatility involved and many ponzi sites created which steal your hard earned money.
Steps to invest in Crypto from India :
1. Indian exchange. Exchange tested and used by us.
a. Open an Account using email ID and contact number.
b. Complete full KYC ( Address proof and Pan Details required here ). This step is important for withdrawing funds.
c. Add bank account/UPI for deposit/withdrawing funds.
d. Add Funds select the options available.
e. Click on exchange option. Pick the token/crypto which you want to buy and place an order/ buy on market price.
f. Once your order is executed. The tokes bought will be added to your specific crypto wallets created by the exchange which can be accessed under funds.
2. International Crypto Exchange. Which we use currently.
Binance ( Web/APP ) : Link
This exchange opens the door to get into other tokens/crypto which are not listed on Indian exchange.
a. Open an account with Binance preferably same email ID used for Wazirx as these 2 can be interconnected.
b. Get your basic verifications done. As this step is Important for withdrawing crypto to your personal wallet if you don't prefer keeping your crypto on any kind of exchanges.
c. Enable all kind of securities check eg login OTP/2Step withdraw pins. This can be enabled under security option.
d. Wallet Section : Here you can send/withdraw your crypto.
3. Cautions required to be safe while investing in crypto.
a. Crypto Offers/Ads Too Good to be True : Never click them or invest in them.
b. Check for official website of a token. We use Coingecko to know more details like Website, Exchanges listed on, Market Cap in any currency etc. This site will have Ads so be careful on what you visit.
c. If you choose to move your tokens to your private wallet or transferring to anyone/exchange. Double check your recipient address as once the transactions is initiated no one can cancel it or revers it. It will be lost forever. Try to limit your transfers.
d. Indian Govt might ban Cryptocurrency, That might mean you will lose your investment completely - please invest if you are ready to lose your investment.
e. Use only links provided above, as they have been double checked and are valid website which we are currently use.
Note : Once you have taken the first step. Private wallet management will be taught depending upon people interests.
Hope this helps
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