An exchange and exchange-traded fund manager says he has found an easy way to buy and sell Bitcoin in the country.
Siddharth Mukherjee of the Coin Chart Tracker said that the currency has been trading at a steady 10-15 per cent over the past few weeks.
He told TOI that he was inspired by an article by a bitcoin trader in India’s Hindustan Times on how to buy Bitcoins for small amounts.
“When I saw that article, I wanted to do the same thing.
After trying different methods, I ended up with a simple system to buy Bitcoin for Rs 25,” Mukherjay said.
The Coin Tracker website, which aggregates trading data of over 100 Bitcoin exchanges across the world, is the largest Bitcoin exchange in the world.
“The process of buying Bitcoins for Rs 15 is easy and is done through a simple trading platform that is managed by a person called Bittylicious.
It takes just five minutes to start trading and is completely free.
In my experience, this is the cheapest way to purchase Bitcoins,” Mukhery said.
He added that he would be adding another cryptocurrency to his portfolio after this month.
The trading platform does not allow trading for a fixed period of time and does not include margin trading or fees, he said.
Bittylicous has over 1,100 traders, according to its website, but they are mainly active traders.
Mukherjee, who has been an exchange and trading manager for the past three years, said that there are several Bitcoin exchanges in the region and there are people working on making it easier for traders.
“This is the reason why I have been able to make it easy to buy, sell and invest in Bitcoins,” he said, adding that he has also invested in the company.
He did not disclose the amount of money he has invested in Bittylious.
“I am not a big fan of Bitcoins because of their high volatility and I have always said so.
However, I have recently started seeing a lot of interest in it, which has motivated me to try and help make it easier to trade in Bitcoin,” Mukharjee said.
Mukhrey said he had been buying and selling Bitcoins with his clients for about six months.
He said that trading with Bitcoin was relatively easy, especially compared to other currencies.
“If you do not know the ins and outs of trading cryptocurrencies, I would not recommend trading Bitcoins.
But if you want to get started in trading Bitcoin, you should try to find an exchange that is well-known and that will allow you to buy or sell Bitcoins,” the trading manager said.
He added that there was a lot more to buying and trading Bitcoins than what the average person does.
“The most important thing is to invest in Bittys website to make the process easier for you.
It is not easy to find a good Bitties exchange in India, but you should have a look at it.
There are more and more Bitcoin exchanges popping up all over the country,” he added.