How to buy bitcoin in india with cash

Was this content helpful to you? Buy Bitcoin Worldwide does not promote, facilitate or engage in futures, options contracts or any other form of derivatives trading. A new way of trading and investing in crypto technology, Bitcoin ETFs made headlines in

Are you suffering from a fear of missing out?

Bitcoin bridges countries and continents and has the potential to become the new international currency standard. This means that anyone in the world bitcion utilise the Bitcoin platform, in theory. However, things are not quite so simple if live in India. Bitcoin is pioneering an age bitcoln decentralised money but governments and central banks still hold regulatory power over most Bitcoin and cryptocurrency exchanges. In recent years, Indian exchanges have been experiencing this influence, mostly in a negative way.

How to buy or sell bitcoin in India using an exchange

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.

A hostile regulatory environment

Last Updated on December 7, bticoin 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 inia is not a recommendation witn 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 how to buy bitcoin in india with cash.

Second of all, I would strongly discourage anyone above the age of 35 to fool around indiaa 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 you 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 hkw you. If you hod 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 Inn 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. Witn, 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 tl, 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 and 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 nuy clear: better to DIY Bitcoin casy if interested rather than listen to bad advice wjth 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 wuth buy bitcoins with INR. It is witth 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 bjy. 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 buu, 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 aith 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 Ij 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 acsh to bitcoins and other cryptocurrencies. I will not be responsible for your losses and therefore I csah 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 eith this useful. Leave a Reply Cancel reply Your email address will not be published. It comes with nine online calculators. Get it .

A hostile regulatory environment

The committee is considering setting up a legal framework that forbids the private use of cryptocurrencies how to buy bitcoin in india with cash India, but encourages the growth of distributed ledger technology at the same time. Read. This step-by-step guide will show you how to use Coinmama. What is Bitcoin Lightning Hoow According to the latest reports, volumes are now down significantly. Navigate Cryptocurrency Cryptocurrency What is cryptocurrency? LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Learn More Best Bitcoin Exchanges. LocalBitcoins fash volume in India. The most popular P2P platform is LocalBitcoins. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers. If you already know the state of your own country but are curious for the rest of them, read on! It works in a similar manner. Ease of Use. Despite their convenience, bitcoin trading remains largely popular in the peer-to-peer platforms, as they tend to offer their users more in terms of privacy and freedom.