An e-wallet stores Indian Rupees in digital form and allows the users to spend them for many purposes. The major advantage of the wallet is Peer to Peer transactions which helps the users to transfer money from one person to another without any involvement of bank transaction. An e-wallet also provides many services such as recharge, travel booking, bills payment (Gas, Electricity). All the transactions are done online. The payment is also done fast. So the users have a wonderful experience. This article helps the users to know how to transfer Bitcoins to Paytm wallet. Also, check our previous article of 4 Simple methods to transfer money from Amazon Pay to Bank Account.
Requirements for e-wallet
In modern days many people depend on e-wallets such as Paytm to make a transaction. The basic requirement to have an e-wallet is a Bank account. Also, the bank account should be linked to the wallet. The users should share their personal bank details. It helps to complete the transaction of money directly from their account. Further, they can use the wallet balance for payments without any issue.
Issues with e-wallets :
Time delay: The e-platforms struck with a delay of payments. It occurs due to issues in customer support. The payment will take days/weeks to process to bank accounts.
Data Security: Every transaction with the app not only transfers money but also it transfers the valuable data and preferences to the corporations. They can hack and breach the account.
No Interwallet transfer: One cannot send money in the Paytm wallet to any other e-wallet.
Transfer Bitcoins To Paytm
The e-wallets such as Paytm and PhonePe are the most used apps for payments and money transfers in India. The UPI payments helped the users to transfer money online. The term Bitcoin was widely popular in the recent times. These coins are affected when there is a change in a cryptocurrency price. The transaction speed of exchanging Bitcoins should be higher than swapping the credit cards.
There is a major difference between e-wallets such as Paytm and a Bitcoin wallet. However, Bitcoin is the most successful app of e-wallets. A bitcoin wallet is not similar to e-wallets like Paytm and PhonePe.
Paytm is the largest e-wallet in India with respect to the volume of financial transactions. Bitcoin wallet stores Bitcoin as digital income. It is created and designed to follow a set of rules through a computer algorithm.
Bitcoin is a digital currency that is independent of both the Central banks and the Government banks. This means that the users need not require third party banks to verify or confirm a transaction on the system. It is supported by a bulk network of people. However, it is trusted and secured as it follows the programming rules.
ALSO SEE | Trick to transfer PayPal money to Bank
Advantages of Bitcoin Wallet :
Payments: Make and receive payments around the world.
Limited supply: There are 21 million bitcoins in the system.
Privacy: The wallet data will not reach any corporation or organization. The payments are so secure. For instance, if any users lose the bitcoin wallet, the coins are unrecoverable and remain in the wallet. No one can recover the bitcoins.
Similarity: Business owners and individual users use many similar apps to complete a transaction.
Peer to Peer: Transfer payments at low cost to other people and businesses.
Decentralized: The network cannot be regulated and controlled by any centralized agencies such as governments and private organizations. It is easy to use.
Secure: The transactions are secure. It requires billions of dollars to change a completed transaction on the network.
Paytm is used for mobile payments by Indians. But Bitcoin challenges every system which controls the economy. There are few methods to transfer Bitcoin to the Paytm wallet. Individuals who have bitcoins can use them in Paytm. Also, they can be transferred to Paytm. If any individual offers bitcoins then transfer it to Paytm through a cryptocurrency app.
About WazirX App
The app is called the WazirX app. It is the most trusted bitcoin exchange app in India. It is an amazing app to transfer the cryptocurrency into the Paytm wallet/Bank account/Paypal account. Further Wazirx app has above 4 stars on Playstore. It is also a secure app to get instant cash to the wallet.
The WazirX App is the most trusted Cryptocurrency Exchange App in India. It is used to buy and sell the needs in bitcoins. Many individuals can exchange their cryptocurrency to INR and INR to Crypto using WazirX.
Steps to Transfer Bitcoins to Paytm Wallet
- Firstly Go to the Signup page and click on the “Signup now” option.
- Enter your Email Id and Password in the app. Click on ‘I agree to Wazirx Terms of Service’ and tap on the ‘signup’ option.
- You will get a verification link to your Email Id. Click on the link to verify.
- You will get ‘Successfully verified’ notification. Click on the ‘Continue’ option.
- Further Click on the ‘Mobile SMS’ option.
- Enter your mobile number. Click on the ‘Send OTP’ option.
- Now enter the one-time password and click on the ‘Next’ option.
- Complete the KYC, upload the Pan card, and enter all the personal details such as name, address, etc.
- After the completion of KYC, Download the ‘Wazirx App’ from the Playstore.
- Install the App. Open the app on your mobile/Laptop.
- Click on ‘sign in’ option and give your credentials.
- Tap on the top-left corner profile icon and click on the ‘Login’ option.
- Enter the Email id and password to continue.
- Go to the ‘Funds or Deposit’ option and confirm the number of coins for exchange.
- Click on coins and get your QR code or address. Copy the QR code and paste it into an app/website where you have Crypto or Bitcoins.
- You will get your cash on the Wazirx account.
- Go to the Wazirx app and click on “P2P orders”.
- Click on Buy or Sell option, click on Sell Tab, enter your amount, and the exchangeable rate.
- You will receive the number of Buyers in a minute.
- Click on ‘Agree Buyer’ and then check your Paytm wallet or UPI address first.
- Click on ‘Yes I have received’ option after you received the money and your Bitcoin will be sent to the other individual.
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