PayTM is known to be the India’s kind of PayPal and Venmo combined together.
This is a popular Indian payment gateway that one can use to pay their online bills, Uber charges and can also purchase Bitcoins using it.
However, you can’t buy Bitcoins directly using the PayTM wallet app. There are few websites from where you can purchase Bitcoins and pay using PayTM.
In this guide, am going to show you how to buy Bitcoin anonymously in India with PayTM service, as well as show you some of the best exchanges you can easily use.
Let’s start right away.
How to buy Bitcoin with PayTM
Buying Bitcoin via PayTM money only takes an easy step process. All you need is a reliable P2P exchange marketplace account to get going.
Follow these steps below to buy Bitcoins with PayTM wallet:
- Head over to LocalCryptos
- Verify your Email address
- Browse and select ‘Buy Bitcoin’
- Choose PayTM as payment method
- Find the best offer and trusted seller
- Initiate trade and chat up the vendor
- Make payment with the vendor’s PayTM details
- Attach proof of payment and mark as paid
- Receive Bitcoin crypto in the exchange wallet.
Voila! Seller will confirm the payment and your coins will be released from the LocalCryptos escrow to your account Bitcoin wallet.
The whole process should be as easy as shopping on PayTM Mall. Though, there are few things one must take care of using any Peer-to-Peer cryptocurrency marketplace.
Always ensure to verify the profile of the seller by checking the number of trades one has made and their reviews by other traders (Like you).
Best ways to buy BTC with PayTM
Below are the 2 best P2P marketplace sites, which you can use today to pay for Bitcoins right away using your PayTM wallet in India.
1. LocalCryptos (Recommended)
LocalCryptos launched in 2015, was known as LocalEthereum. It was initially built a P2P platform for buying Ethereum (ETH) only.
The platform later rebranded – adding Bitcoin (BTC) and Litecoin (LTC), as well as some other established crypto-coins.
This is a non-custodial peer-to-peer exchange. This means you do not have to deposit your crypto directly on the platform to sell.
Also, you are not required to verify your identity to use LocalCryptos. Compared to Paxful, LocalCryptos has fewer payment methods, even though it continues to expand aggressively.
Sellers pay a 0.25% trading fee while buyers pay a 0.75% trading fee.
- 60+ payment methods
- Trade BTC, ETH, and LTC
- No KYC verification
- Lower exchange fee
- High security than other P2Ps
- Few supported cryptocurrencies
- Vendors can be scammed.
LocalBitcoins is a P2P (Person-to-Person) Bitcoin marketplace that specializes in connecting buyers and sellers, while serving as an escrow in the transactions.
LocalBitcoins gives vendors the ability to create offers in all currencies including Google Pay wallet.
- Available in every country of the world
- A diverse selection of buyers and sellers
- Supports many payment methods
- Buyers get their bitcoins fast
- Lack of cryptocurrency diversity
- Both sellers and buyers can be scammed.
Here you will find my candid answer to the most frequently asked questions from individuals concerning PayTM and how to purchase BTC with it.
What is PayTM?
PayTM is an Indian e-commerce payment system owned by One97 Communications, which allows transfer of cash into an integrated wallet via online banking, debit cards, and credit cards, or even by depositing cash via selected banks and partners.
Is Bitcoin legal in India?
Yes, Bitcoin has always been legal in India as per the Government of India. But, the RBI does not seems to be in favour of this decision, and that may be why cryptocurrencies are not regulated in India.
What are the best P2P platforms?
There are many P2P marketplaces available in the market, but you can check my detailed list of the best Peer-to-Peer exchanges to buy and sell Bitcoins.
Over to you
Now you know the safest exchanges to buy and sell Bitcoin via PayTM, it’s time to register and check their features, payment methods, listed cryptocurrencies and user interface.
Once you find your ideal marketplace, create your own offers to buy some BTC and let your SATS keep growing!
If you follow this guide on buying Bitcoins with PayTM, you will be able to convert your money in Indian PayTM to BTC easily and safely.
If you want me to recommend the best P2P platform you should be using to buy Bitcoin with PayTM, LocalCryptos seems to be the one, because it supports some other crypto-coins as well.
Try to transfer your investment out of the exchange where you bought it. You can use offline crypto wallet to store your BTC.