Can i buy bitcoin in india

Live TV. LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Buy Bitcoin Worldwide is for educational purposes only. With Prime Minister Narendra Modi-led government going the whole hog to make India a less cash economy, digital cryptocurrency has caught the attention of many Indians.

Are you suffering from a fear of missing out?

The rise of interest in buying Bitcoin in India has spiked since it being legal. However, the process of buying Bitcoin in India is still quite confusing. And here it is! We list the pros and cons of each exchange so that you can make an educated choice of which fits your needs the best. This makes it easy to fill out the information required for the exchange. Right now, Coinome supports Bitcoin and Litecoin — the two largest cryptocurrencies right. We found this platform really beginner friendly, which is a big plus.

A hostile regulatory environment

Last Updated on December 7, at pm. How to buy Bitcoins in India? This is not a recommendation to buy bitcoins and I do not hold any. The reason I am writing this is that the bitcoin and cryptocurrency community is filled with unsavoury pump and dump characters who can easily fool and misguide new investors. First of all, this post is not a recommendation to buy bitcoins. I do not hold any and do not intend to.

Crypto exchanges are facing the music

Last Updated on December 7, at pm. How to buy Bitcoins in India? This is not a recommendation to buy bitcoins and I do not hold any. The reason I am writing this is that the bitcoin and cryptocurrency community is filled with unsavoury pump and dump characters who can easily fool and misguide new investors.

First of all, this post is not a recommendation to buy bitcoins. I do not hold any and do not intend to. I have written this with inputs from a student at IIT, Madras who values her anonymity.

Second of all, I would strongly discourage anyone above the age of 35 to fool around with their hard earned money at this stage in their life. Younger Indians have the youth, and the time to play with Bitcoin. Otherwise, the world will bulldoze us aside. One does not need to buy to learn, but if can i buy bitcoin in india must invest, then do so because you wish to understand the technology and think it can change the way you operate. Do not buy because of fear, do not buy because of greed.

It can blind you. If you wish to buy bitcoins do so with money that you can afford to lose completely. Put some money and leave it alone for a few months. If it increases, pull it out and buy yourself something fancy or go on a trek. That way you will not get hurt. Bitcoins are not suitable for serious investing. If want to be a Bitcoin hodler slang for long-term bitcoin investor or hoarder then do so at your own risk. If Bitcoins are too expensive to buy even in 0.

Bitcoin does not fit into the usual definition of a financial asset and therefore cannot be called a bubble. A Pyramid Scheme? Or a Bubble?

The Indian government has warned that it is too risky to be used as an investment but has not banned its usage. However, it could make buying bitcoins or any other form or cryptocurrency illegal. Once it does, you will have to say goodbye to your investments. So be prepared for. Bitcoin profits are not capital gains.

Needless to say, there is a lot of unsavoury jugaad going on. If you wish to directly buy cryptocurrency in India with INR, then your choices are limited. There are two exchanges which have decent feedback in social media: Zebpay can i buy bitcoin in india Koinex. Zebpay is available only as an app. I have not used it, but if they are going to send double authentication sms to login, then it makes no sense to have that sent to the same device.

Double authentication requires two different sources and two different devices to be secure. So I will discuss the basic steps to buy bitcoins in India via Koinex.

So I see no harm in writing about relevant information with all necessary disclaimers. Only those who wish to read disclaimers will bother to read. My conscience in this matter is clear: better to DIY Bitcoin buying if interested rather than listen to bad advice and lose money in initial coin offerings in an hope to gain big and then shift to Bitcoin. I will again repeat the disclaimer: I do not hold any kind of cryptocurrency. I do not recommend buying any kind of cryptocurrency.

This post is only for those who have already made up their minds to buy bitcoins with INR. It is possible that this post may inspire some. Well, that cannot be helped. This is a snapshot of the top ten from a huge list. Only a handful and that is more than. You can buy Neo from an exchanged called BuyUcoin, but I do not know about it. Step 1: Understand the risks, read the disclaimer in this post and never ever put big money. Play with it if you must, but do not mix business and pleasure.

Stay away from people who post referral links that promise you a welcome gift petty change in INR. They will also be paid the same petty change. Step 4: Once your account is approved, you can transfer money from your approved bank account via NEFT or via online transfer for a fee.

Step 7: Login again after a month and check your luck. If must invest again, do so with only money that you afford to lose. You will know the meaning of that sooner or later. This is a major downside, but the only alternative is to convert INR to USD, sign up at a foreign exchange and then work. If you want the lowdown on this, search in Quora and DIY. Do not buy and hold assuming 1 bitcoin will be worth millions in the future.

Bitcoin investments are subject to time value of money. They can go for years around a price range and not provide any sizeable return. Have you seen how James Bond operates? If he suspects someone, he would go straight to their home or office and threaten them without actually doing so. That is he would ruffle a few feathers.

Only those who take risks can make gains. So I salute those who have taken the risk to invest in Bitcoins. Live long and prosper. None of the above contents or any post in this site should be construed as investment advice. Proceed with extreme caution when it comes to bitcoins and other cryptocurrencies.

I will not be responsible for your losses and therefore I am not responsible for your gains. And I will respond to them in the next few days. I welcome tough questions. Please do not ask for investment advice. Before asking, please search the site if the issue has already been discussed. Thank you. I am only talking about investing bits and piece.

Taking coins in and out is a pain for small sums. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Hate ads but would like to support the site? Subscribe to our ad-free newsletter and get beautifully formatted full articles delivered to your inbox! Do share if you found this useful. Leave a Reply Cancel reply Your email address will not be published. It comes with nine online calculators.

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How to Buy Bitcoins in India Using Cforcoins — P2P New App in India

A hostile regulatory environment

Before jumping into this page, an important disclosure. How much returns can you get if you invest in Bitcoins? Live TV. Despite RBI’s reluctance to recognize the cyptocurrency, the interest in Bitcoins in India has not waned. You can purchase Bitcoins with a credit card. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they’re also private. Once you locate a seller, you meet up in-person and conduct the trade. Bitcoon regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities,» the central bank had said. In this regard, the Supreme Court of India in a ruling can i buy bitcoin in india on 25 February had also asked the Indian government to come up with cryptocurrency regulation policies.