ABOUT BITCOINS

You can mine or buy them from an exchange with your bank account. Mining needs powerful computers, uninterrupted power supply and several people working as a team. There are various exchanges that deal in bitcoin such as Zebpay, Unocoin and Coinsecure. Most of these exchanges have Android and iPhone apps, which let you link your bank account for quick transfers. You can accept bitcoins as a payment for goods and services or buy them from a friend. You can purchase crypto currencies using fiat money or through exchanges. KYC is a must; you need to verify your ID by providing PAN and other details. Once you open a wallet with an exchange, you can buy, sell, store, use and accept crypto currencies. When you sell bitcoins, they are credited instantly in the account. There are also agents who sell you crypto currencies in exchange for cash. Buying from agents, however, is risky, as they might take cash and not transfer the currency.