PayTM, India’s widely used Digital Wallet-turned-bank boasts about 200 million active users on the app. With numbers as staggering as those, no wonder PayTM is providing payment services to all kinds of Business. Now, you can even buy Bitcoins using PayTM. No, you cannot buy it directly from the app, although that doesn’t seem like an impossible scenario in future.
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.
How to Purchase Bitcoins using PayTM wallet:
Currently only Peer to Peer exchanges offer PayTM as a payment method. We will simply the two most used P2P exchanges in India for Bitcoin trading.
Paxful in 2020 is one of the leading peer to peer exchange. In a recent comparison with LocalBitcoins, paxful fared much higher than LocalBitcoins in certain cases.
How to buy BTC on Paxful with PayTM
- Choose/Select PayTM has payment option to search the offers.
2. As all the available offers are listed, user can choose the most convenient method (less premium + more trust score) and open a trade request.
3. Enter the amount of trade and open a request. Once the trade request is opened, follow the instructions by the seller and transfer the money.
4. After making the payment and marking the order as paid, seller will release the Bitcoins. You can sell or withdraw them into a private wallet.
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, IMPS, NEFT and also PayTM.
Here’s how to get started:
- Select your country and choose PayTM in the payment method dropdown. (See screenshot below for reference)
2. This will list all the users selling Bitcoins using PayTM.
Before you trade, keep an eye on the number of transactions a user has completed and the feedback score. A 100% feedback score means the user has completed all transactions genuinely without any fraud or unnecessary delay.
In the screenshot above, you can see the seller “AKSOLUTION” has 1000+ confirmed transactions and a 100% feedback score. If you are getting a profile with 100% score, give it preference.
You can see the seller’s profile by clicking on their names.
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. You can follow the instructions in the “Terms of trade” section, they may differ from user to user.
Here’s comparison between LocalBitcoins and Paxful
While you’re here, you might want to check out our article: