PayTM is India’s PayPal and Venmo. This is one of the most popular Indian payment gateway app that one can use to pay their online bills, Uber charges and Zomato fees among others. However, now you can also buy Bitcoins using PayTM! However, unlike other features, 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. Here I’m listing two websites which you can use today to pay for purchasing Bitcoins right away using your PayTM wallet.
Without any further delay, let’s look at these trusted sites for buying Bitcoins.
How to Purchase Bitcoins using PayTM wallet:
Before you purchase Bitcoins from PayTM, here are a few things you should know:
- You can buy a part of Bitcoins for ex: 0.001 BTC rather than a complete BTC.
- You can purchase Bitcoins worth $100 (INR 6400) or less. However, I recommend you to buy at least 0.004 BTC minimum at any time.
- You can buy Bitcoins every month for a small amount and it will be added to your main Bitcoin wallet on these sites.
- Once you have a decent amount of Bitcoins (worth $500 or more), you should consider ordering a hardware wallet like Ledger which will help you store your Bitcoins for a longer period of time.
- If you plan to HODL your Bitcoins only for a short period of time, say 2-3 months, you can use a clean Android or iOS phone. There are mobile wallets such as Coinomi or Jaxx for storing bitcoins on mobile.
Alright, I assume the above pointers have helped you understand the basics before purchasing bitcoins and keeping it secure. Let’s get to the point and buy some Bitcoins using PayTM.
LocalBitcoins is a P2P exchange which helps connect the buyer and the seller. This is one of the most trusted websites where you can find a user in your area or country who is buying or selling Bitcoins using various payment methods such as UPI, bank transfer, cash deposit, cash, PayPal, Payoneer and also PayTM.
Here is how you should get started:
- Head over to LocalBitcoins
- Register an account and also enable 2FA
- Once registered, select your country and choose PayTM in the payment method dropdown. (See screenshot below for reference)
This will list all the users selling Bitcoins using PayTM. What you really need to pay attention to is the profile of the seller that reflects the confirmed transactions and the feedback score. For example:
In the screenshot above, you can see the seller “karohm” has 1000+ confirmed transactions and a 100% feedback score. The profile below that “Coinjammer” has 70+ transactions and feedback score of 92%. Both the profile seems solid but I would prefer “Karohm” profile for this transaction.
You can also click on seller profile names and see more details. I have made some notes in the screenshot below for a better understanding.
Once you have picked 1-2 sellers that you would like to purchase Bitcoins from using PayTM, simply go back to the first page and click on Buy:
On the next page you can enter the amount in INR for which you wish to buy Bitcoins or you can also enter the amount of Bitcoins you wish to purchase. Do keep the seller’s limits in mind which you can see in the above screenshot and also read the terms of trade before clicking on the Buy button.
After inserting the price or the amount, click on send trade request. Do watch this video for better understanding of buying bitcoins using PayTM:
Another website similar to Localbitcoins is Paxful. The steps are almost the same as listed above. However, the number of sellers on Paxful are few compared to Localbitcoins.
If you have any questions regarding Bitcoins purchase using PayTM or other services, feel free to ask us in the forum or in the comment section below.
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An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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