Is Paytm Launching Cryptocurrency? What Is It And How Will It Work?

Paytm, India’s digital payments pioneer would consider Bitcoin offerings if the nation’s authorities removed regulatory uncertainty surrounding the adoption of cryptocurrencies.

The rules around these assets remain in a “grey area,” Chief Financial Officer Madhur Deora said in an interview to Bloomberg TV’s Haslinda Amin and Rishaad Salamat Thursday.

“Bitcoin is still in a regulatory grey area if not a regulatory ban in India,” Deora said. “At the moment Paytm does not do Bitcoin. If it was ever to become fully legal in the country then clearly there could be offerings we could launch.”

India’s central bank had effectively banned cryptocurrency trading until the courts lifted the prohibitions in March 2020. Since then, the government has considered the adoption of crypto legislation, but the Reserve Bank of India remains highly critical and continues to advocate for its ban. 

Deora’s comments come as Paytm prepares for public subscriptions to its 183 billion-rupee ($2.5 billion) initial public offering, after selling almost half to anchor investors. The listing is expected in mid-November.

How To Buy Bitcoin With PayTM?

Buying & selling bitcoin via PayTM money is an easy 5 step process. All you need is a Paxful KYC verified account to get going. Here are the following steps to buy Bitcoins with PayTM wallet:

A. Register your account on Binance.

B. Verify your Email, Aadhaar & Address (Takes only 5 minutes, no need to wait for days and nights).

C. Click buys bitcoin & select the payment method.

D. Find the best offer & trusted seller.

E. Initiate the chat, take the PayTM details & make the payment. Once paid, attach the receipt or screenshot of the transaction and mark it as paid.

Voila! Seller will confirm the payment and your coins will be released from Paxful’s escrow to your Paxful’s bitcoin wallet.

The whole process is as easy as shopping on PayTM Mall. However, there are a few things one must take care of while using any p2p cryptocurrency marketplace. You’d always ensure to verify the profile of the seller by checking the number of trades one has made and their reviews by other traders (Like you).

Usually, if the trader’s profile is KYC verified and has no negative reviews then it is safe to trade.

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