Cryptocurrencies, in the past few months, have been at the center of much activity in India. On one hand, crypto coins like Bitcoin have been growing at exponential rates globally, on the other hand, the Supreme Court of India went ahead and made a favorable decision for trading in crypto coins pushing the RBI to lift the existing crypto curb.
Buying and selling cryptocurrency, which is now legal in India, is lucrative for interested investors, but the average investor in India has been a bit wary of taking a step ahead. One reason is that investing in crypto is complex and tedious and can be done only by tech-savvy people and nerds.
But, as India opens up rapidly to the crypto gamut, it is interesting to note that key players in this space, like CoinSwitch Kuber, BuyUcoin, or WazirX, take all steps to make Bitcoin or crypto coin investing effortless and easy for the investor.
Today, we will discuss how using a digital wallet from India’s premier payment provider, MobiKwik, can help you be a part of this momentum, aptly termed the ‘Indian Crypto Renaissance’ by experts.
Wading Through The Complexities of Investing in Cryptocurrency
We mentioned that the average investor in India is skeptical about investing in crypto coins. The primary reason behind it is the associated complications of the investment procedure and lack of clarity on how to go about it.
The conventional Indian investors know that the crypto market in India is still unregulated, with the banking industry reluctant to be a part of it. In the background of all this, leading crypto exchanges in India have been facing problems because investors cannot use their bank accounts to buy or sell cryptocurrencies. Most UPI apps and providers are also taking a cautious approach and do not allow their users to use their digital wallets to buy or sell cryptocurrencies.
Few crypto platforms and exchanges have introduced their apps that investors can download, register to create their digital wallets, transfer money from their bank accounts into the wallet and then use the funds to invest in crypto coins. The issue, however, in this case, is the lack of knowledge amongst the average investors about such apps. It will take considerable time for these platforms to reach out to the masses and become a common-use instrument for crypto investment.
WazirX, CoinDCX Go, CoinSwitch Kuber and others partner with MobiKwik for seamless crypto-investment
MobiKwik felt the pulse of the growing cryptocurrency momentum. With their innovative attitude and focused approach to always rise to the occasion, MobiKwik announced partnering with some of the best and key crypto platforms in India to facilitate seamless crypto investment.
MobiKwik has been a key player in the Indian fintech sector for more than a decade now. From its initial days as an online payment facilitator to the launch of UPI services, moving on work with hundreds of operators and service providers, increasing its retailer network; the brand has progressed to match its offerings with the changing needs of the Indian customer. The company then entered the loan space, wealth management, insurance, and now it is the first mainstream digital wallet company with a user base of 120 million-plus that has entered the crypto space.
What do you need to know about using MobiKwik for crypto investment?
First things first, you cannot use MobiKwik to invest in crypto coins directly. It means that the payment app is not a crypto platform or a cryptocoin exchange. However, MobiKwik users can transfer funds from their banks into their digital wallets and use their MobiKwik digital wallets at crypto sites to buy cryptocoins. This is why exchanges have partnered with MobiKwik and accept money from MobiKwik digital wallets.
What are the advantages to users?
- Effortless investment and trading- The primary issue that investors were facing in the country has been tackled with this partnership. The existing vacuum of UPI apps not facilitating crypto investments has been addressed to a certain extent. The absence of UPI was being felt by many traders and investors, professionals, and beginners. MobiKwik has ventured in to fill in that gap.
- Ease of transaction– MobiKwik users are well-versed with the whys and hows of using their virtual wallets. The simple, user-friendly go-to smartphone-based virtual wallet that they have been using to pay for online shopping, recharges, bill payments, etc., has an additional feature of investing in cryptocoins. It is an added facility or service that interested users can experiment with if they want to begin in a small way or go full-on and invest heavily in crypto coins if they are one-hundred percent sure of good earnings.
- Safe and Secure- MobiKwik users are well aware that their app is known for high security. The MobiKwik digital wallet has multiple layers of protective shields compliant with international and local standards.
- No need for other crypto exchange apps- While traders need to create their account and sign-up on varied crypto coin exchanges or platforms like WazirX or BuyUcoin, they do not download any specialized crypto payment app to buy or sell cryptocurrency. Having the MobiKwik app and enough money in the digital wallet is enough for engaging in crypto transactions.
Conclusion
Buying crypto coins from a crypto exchange is the easiest route of investing in cryptocurrency. Signing up is easy, and once the KYC process is completed, you can get started on your crypto journey. Using MobiKwik to trade in cryptocurrency is a piece of cake because firstly, as a user of MobiKwik, you are well acquainted with the app and its features, and secondly, you are aware you can transfer money from your digital wallet direct to the exchange and invest. Happy crypto investing with MobiKwik! Download the MobiKwik app now!
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