How to buy bitcoin in india reddit

They have tonnes of positive reviews from new users… looks good and very newbie-friendly. Wallet storage is super important and most beginners overlook this. Thanks for writing this. Let me see if I can fit a paragraph in there to explain further. It has been launched in April with its registered office in Gibraltar.

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Over the last 12 months, the price of Bitcoin has how to buy bitcoin in india reddit a roller coaster and in India, we’ve gone from blank stares when talking about cryptocurrencies to interest and demand that’s hard to keep up. There are a number of different Bitcoin exchanges through which you can buy the coins, but international transactions involve a certain amount of uncertainty and delays with regular money transfers themselves. So if you’re in India and are looking to buy Bitcoin, you may want to use a local exchange. Buying Bitcoin isn’t for the faint of heart. Economists and others have been expressing doubts for long now about the feasibility of Bitcoin as an investment.

List of Popular Websites For Indians to Purchase Bitcoins:

I will talk more about Bitcoin arbitrage for Indians later, but today I have an exclusive post for you. Today, you will learn about some of the best sites in India where you can sell Bitcoin and earn money. Here is the updated list Some of the sites are not listed below as they are launched recently and have great user experience. It is founded by an experienced team which is continually innovating with a mission to involve every Indian in the blockchain revolution. In the present situation, they have come up with a new way of peer to peer trading which enables Indians to withdraw and deposit INR while trading cryptocurrencies.

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Over the last 12 months, the price of Bitcoin has been a roller coaster and in India, we’ve gone from blank stares when talking about cryptocurrencies to interest and demand that’s hard to keep up. There are a number of different Bitcoin exchanges through which you can buy the coins, but international transactions involve a certain amount of uncertainty and delays with regular money transfers themselves. So if you’re in India and are looking to buy Bitcoin, you may want to use a local exchange.

Buying Bitcoin isn’t for the faint of heart. Economists and others have been expressing doubts for long now about the feasibility of Bitcoin as an investment. There have also been questions raised about the suitability of Bitcoin for the needs of the financial industry. In India, the Income Tax department has been cracking down on cryptocurrency traderscovering Bitcoin, Litecoin, Ethereum, Ripple, and. There’s also the fact that the Indian government has said that Bitcoin can’t be used as a part of the payments.

Speaking to the nation, Finance Minister Arun Jaitley reiterated that cryptocurrencies are not legal tenders, saying that their use «as part of the payment system» will be eliminated. However, the minister didn’t explicitly mention anything about trading in cryptocurrencies like Bitcoin. Still, if you’ve done your research and want buy Bitcoins, there are a number of options in India.

We started looking at such exchanges one year ago, and many of the exchanges we found at the time to be good options still remain active and have good reports from users. However, we have seen customer feedback on some of them turn sour, and there have been a few new entrants as well, which have received a positive response from most of their users. Here are the ones that sound like good picks in Februarybased on what consumers are saying, on public forums ranging from Reddit and Quora, discussions on social media such as Twitter and Facebook, and by listening to recommendations from people who are actively trading in Bitcoin in India.

Coinome Recommended by a number of traders, and with generally positive feedback online, this exchange is backed by the payments company Billdesk, and launched near the end of November. It allows for instant eKYC using your Aadhaarand it doesn’t buy or sell Bitcoin, serving as a platform to connect users instead.

The Billdesk backing lends more authenticity to the company, and it’s also got a reputation online for fast transfers. Another reason to like Coinome is that it offers instant withdrawals on all weekdays — very reassuring if you’re worried about values dropping suddenly. Coinsecure Coinsecure has been around for a while now, and generally has positive feedback online. It offers a wallet along with an exchange, and is generally well designed and easy to use.

There are a lot of guides on the site so you can learn more about Bitcoin trading there, and allows for trading of just Rs. It charges 0. Check out Coinsecure on the Web Android. Koinex Online, you’ll see a lot of people swearing by Koinex, and a fair number swearing at it as. Usually, you’ll hear about people ditching it to move to Coinome, and people ditching Coinome for it, so it’s safe to say that the online reputation is a little mixed.

However, some traders that we have spoken to have been using it and say it remains a good, and easy to use option, with enough liquidity for day-trading, but its fees are a little high. People who have been using Bitcoin for purchases say that the ease of use and the availability of coins makes it a good option for people buying Bitcoin in India. It allows OTPs for security, and offers yearly statements of trades on request, which could be used for tax purposes.

Remitano Another reliable player that has come up in India is Remitano, a peer to peer Bitcoin exchange that promises instant transfers and withdrawals as well, and offers an escrow facility. The idea behind this is to make the transfer of funds between people safer, as the Bitcoins are locked until the seller confirms payment.

It also offers a wallet if you need one, although most people recommend saving your Bitcoin offline. In a way, Remitano being on the list also highlights how changeable all these companies’ reputations are. Around September, you’d find a lot how to buy bitcoin in india reddit people complaining about Remitano online, but in the last two months, we’ve seen a lot more positive comments, including an active Bitcoin trader whose opinions we trust.

These four choices are looking like the best options at this point, but two of the exchanges we looked at last year, Unocoin and Zebpay are also worth considering.

Both exchanges offer mobile apps so you can easily check and manage them at any time, but we’ve seen a large number of online complaints about speed, fees, and issues with delays in KYC. In general, both seem to be reliable, and have Indian customer care numbers so you can reach them more easily, but they don’t seem to be the most favoured options amongst Bitcoin traders anymore.

Another option, which we mentioned earlier, is BuyUCoin. The site was one we had looked at last year, but in the last few months there have been a lot of complaints from users online. One of the founders has blogged about this and explained why a backlog came up, causing some issues, which is why we haven’t included it in our main list either, but it sounds like they’re aiming to get back on track, so it could be worth checking to see what rates it is offering.

Finally, given the prices at which Bitcoin is being traded, we wouldn’t recommend this for the most part, but if you’re looking for a cash option, try LocalBitcoins. Some people have shared stories of being scammed, so it’s definitely not the best idea, but you can trade how to buy bitcoin in india reddit with no paper trail, which might be a selling point for some people.

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Crypto exchanges are facing the music

Partnered with only top indiaa, reliable and professional brokers. Nice to hear that I helped you learn how to buy bitcoin with ease. LocalBitcoins is also popular for those who are looking to buy Bitcoin using PayPal. Your paragraph on the identity verification makes some good sense. The platform also provides wallet address for receiving your Bitcoin. And finally, if you still have a bank account and address in your EU country, then just use those to connect up to your Coinbase account. If possible let me know which you choose and how you liked it. Signup for WazirX. No hidden fees reddi free to use software. What I found is that when I try to buy how to buy bitcoin in india reddit a credit card, I am stopped because the service is not available in my state. The company has decided to go its own way and leave the thriving cryptocurrency community. Here are the documents that are required:.