Works in almost all countries The Highest limits for buying bitcoins with a credit card Reliable and trusted broker Buy Bitcoin Read Review Kraken Buy Bitcoin Read Review Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume.
Regulated company in India Backed by investors in the United States Low 1% fee, reduced to 0.7% with sufficient trading volume The platform provides trust and transparency by authenticating users and establishing a higher degree of identity validation to the peers who facilitate the transactions.
Meanwhile, the demonetization of the Indian rupee by the country’s government a couple of years ago had led to an increase in demand for Bitcoin, but the sad news is that everything seems to be going downhill ever since. The latest series of events paint a bleak picture of Bitcoin in the Indian scenario.
The committee is considering setting up a legal framework that forbids the private use of cryptocurrencies in India, but encourages the growth of distributed ledger technology at the same time. Finance minister Arun Bailey has already made it clear that cryptocurrencies won’t attain the status of legal tender in India.
In April this year, the RBI directed India’s banks and other regulated agencies three months to shut down their relationships with firms or individuals involved with cryptocurrencies. Not surprisingly, Indian cryptocurrency exchanges have been in hot water thanks to such a hostile regulatory environment.
Regulatory hostility has dealt a body blow to India’s leading cryptocurrency exchanges. eBay, India’s largest cryptocurrency exchange, announced in late September that it is shutting down as the RBI directive effectively crippled its operations.
The Indian regulators’ unsympathetic approach toward cryptocurrency was further reinstated in late October when Harish BV, the founder of crypto exchange Unicorn, was arrested for setting up an ATM kiosk at a mall. Such a move dented the confidence of cryptocurrency exchanges in India, who began to fear that they might be pulled up on some pretext or the other.
It can be said that the Indian cryptocurrency space is in shambles right now because of the hostilities created by the government and the country’s central bank. As a result, the Indian cryptocurrency industry is not in the best of health, as evident from the declining trading volumes.
Industry estimates suggest that there were five million cryptocurrency users in India in January this year spread across 10 exchanges. In all, the Indian government’s unsympathetic attitude and apprehension toward cryptocurrencies is crippling the growth of Bitcoin and other digital currencies in this market.
Today, you will learn about some of the best sites in India where you can sell Bitcoin and earn money. So without further delay, let’s jump into this exclusive list of websites in India that let us sell Bitcoin.
Air is the most popular crypto exchange in India which has joined the party only in 2018. It is founded by an experienced team that is continually innovating with a mission to involve every Indian in the blockchain revolution.
They enable users to quickly sell their Bitcoin in India, and you can withdraw funds directly to your bank account. Instant withdrawal cost a small fee of INR 10, and max 2 lakhs per transaction.
For example, if you want to sell your BTC worth $5000 which is equivalent to approximately 3.4 Lakhs INR, here’s what to do (Source): When someone comes to buy 5000 USDA on Air P2P, they will transfer 3.4 Lakhs to your bank account.
Note: Air escrows the funds, and provides appropriate dispute resolution wherever required. The Bits team focuses on ease of use, security, and customer support right from the beginning.
The Bits has also pioneered the innovative P2P model for exchange cryptocurrencies and INR despite difficult times in the Indian crypto scene. LocalBitcoins is the best platform for anyone who wishes to make a career in Bitcoin trading.
My only advice for you when using LocalBitcoins is to work with users who have a good number of sales & a high reputation. Similarly, if you wish to sell a lot of bitcoins, you should focus on building a high reputation from day one.
Finance is one of the world’s largest and trusted cryptocurrency exchange, that offers P2P option to sell Bitcoin In India. If you don’t have a verified Finance account, you will be asked to complete the verification.
From here on, the usual P2P method will work, and you will receive funds in your bank account. However, don’t make a classic mistake of promising high returns and do let others know about the risk associated with it.
BitcoinRates lists the current buying & selling price of Bitcoin in India. This makes it easy for anyone to find the best website to sell Bitcoins in India.
The green highlighter shows which exchange is offering the lowest buying & highest selling price. In the next couple of years, Bitcoin is going to be very exciting for everyone who is interested in digital currency.
In upcoming posts, I will be sharing more guides & tutorials to help you grow your career in Bitcoin. He founded Consular in 2016, and one of the industry’s most regarded professional blogger in fintech space.
An international speaker and author who loves blockchain and crypto world. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via Consular.
Join us via email and social channels to get the latest updates straight to your inbox. Bitcoin has started gaining popularity in the year 2016.
In five years, bitcoin has become the costliest currency across the world. As Bitcoin trading has become legal in India, many people India are searching for legitimate ways to invest in bitcoin.
It is a decentralized currency not administered by the central bank. The transactions of Bitcoins are recorded in the ledger called as blockchain.
Bitcoin payments are accepted on many online portals. The cost of one bitcoin before 5 years was in thousands and today it is available by spending lakhs of rupees.
You need to transfer money into the account and start buying bitcoins. The transaction fee is applicable to buy sell of cryptocurrency via exchange.
The platform act as an interface for buying or selling cryptocurrency. The bitcoin exchange used for the transaction should be easy to use, fast and reliable.
It should be accessible across devices like smartphones, desktop, laptop, etc. You need to pay transaction fees as and when you buy or sell cryptocurrency on the exchange.
You need to select a platform that offers currency exchange at a reasonable rate. The exchange should use the highest encryption standards and latest technology like firewall, Anti-APT appliance, two-factor authentication to protect the cryptocurrency.
This is to prevent hacking, virus attack, and theft. You should select a secured exchange for performing a transaction.
You should check the legal aspect of the currency exchange. You can refer to website bitcoin.org to find out the registration detail of the bitcoin exchange.
The returns (money earned) via investment from bitcoin are taxable in India. This means you need to make tax payments on money earned via bitcoin.