Bitcoin, the world’s first cryptocurrency, has become one of the most sought-after assets in the world of finance. With its volatile nature, it offers traders the opportunity to make a significant profit in a short amount of time. Zebpay is an Indian cryptocurrency exchange that allows users to buy and sell bitcoin. In this article, we will explain how to trade bitcoin in Zebpay.
Step 1: Sign up and Verify Your Account
To start trading bitcoin on Zebpay, you need to sign up and verify your account. To sign up, you need to provide your email address, phone number, and password. After signing up, you need to verify your account by submitting your KYC (Know Your Customer) documents. This includes your PAN card, Aadhaar card, and bank account details.
Step 2: Add Funds to Your Zebpay Wallet
Once your account is verified, you need to add funds to your Zebpay wallet. Zebpay supports bank transfers, UPI, and debit card payments. To add funds, click on the ‘Deposit’ button on your dashboard and select your preferred payment method. Follow the instructions provided to complete the transaction.
Step 3: Place an Order
After adding funds to your Zebpay wallet, you can place an order to buy or sell bitcoin. To place an order, click on the ‘Buy/Sell’ button on your dashboard. You can choose to buy or sell bitcoin at the market price or set a limit order. A market order will be executed immediately at the current market price, while a limit order allows you to set a specific price at which you want to buy or sell bitcoin.
Step 4: Monitor Your Trade
Once your order is placed, you need to monitor your trade. You can check the status of your trade on your dashboard. If your order is executed, your bitcoin will be credited to your Zebpay wallet. If your order is not executed, it will remain open until the market price reaches your limit order.
Step 5: Withdraw Your Bitcoin
After buying bitcoin on Zebpay, you can withdraw it to your external wallet or sell it on the exchange. To withdraw bitcoin, click on the ‘Withdraw’ button on your dashboard and enter the amount of bitcoin you want to withdraw. Enter your external wallet address and follow the instructions to complete the transaction.
Conclusion
Trading bitcoin on Zebpay is a straightforward process. By following the steps mentioned above, you can easily buy and sell bitcoin on the exchange. However, it is essential to keep in mind that bitcoin is a highly volatile asset and can be risky to trade. It is recommended to do your research and invest only what you can afford to lose.