Bitcoin Forum

Do people In India use bitcoin? Is It Legal There ??

Yes , ofcourse  it is legal in India because I am.using bitcoin from 2 years in India , and I am proper Indian .
I have Many friends at WhatsApp group who are bitcoiner . Some of them are making lakhs per month and paying tax to the government ( which is honesty quality ) .
But in this year some restrictions comes to use bitcoin after demomentization of money which control the flow of bitcoin .
I explained about it here >>
https://bitcointalk.org/index.php?topic=1739347.new#new

Oh..but which companies are accepting bitcoins as payments ??

Which whats app group are you talking about and how many member are part of this group. Also are you referring to group started by some Alpesh who were was not able to answer the query raised to their group? Also do you use it for live trading purpose or for information purpose?

I would also like to know who are these people in your whatsapp group that are paying taxes, I havent met such traders as yet in the Indian Economy.

After demonetization, the usage of bitcoins in India has reached a completely different level and more and more people are joining hands in starting to accept this new currency. About the legality, I think that there is nothing yet mentioned either by Government or Banking Officials except RBI's warning to trade this cryptocurrency with extreme caution due to high volatility.

the best company that accept bitcoins is zebapy.u can download the app through the playstore and give the details like pan card and bank details and after 7 working days ,you r account will verified and you can cash out ur bitcoins very quickly.

both zebpay and unocoin are the best company that are accepting bitcoin.
but when you sell your bitcoin i think unocoin is giving good price as compare to zebpay.

but zebpay have more features like mobile recharge etc

but i recommend unocoin for trading

Zebpay is the quick and fastest among the rest. Also Coinsecure is good but only thing is that one is exchange and other is not. While Zebpay also has the recharge feature and when it comes to withdrawal Coinsecure is the fastest and also on Saturday you can withdraw.

any sites other than Zebpay ??

Yes you can use Coinsecure or Unocoin. But withdrawal at Coinsecure is the best. You will get instant withdrawals many times. While that is not the case with Unocoin. Also do you want to buy/sell the btc?

Bitcoin use as currency is very less in India. Hardly any company accepting bitcoin. Currently bitcoin is in the introduction phase in India. And it is being introduced as investment tool/commodity thus focus of many is to purchase and keep it.  Overall awareness is slowly increasing mainly because 1000$ mark.
Many coming in with herd mentality thanks to the media coverage, while other getting introduced via some cloud mining scam.

Most of bitcoin users I know are purchase and keep them for long time (till it hits some million/zillion dollar mark).

You can use localbitcoins for better experience if you are not satisfied with these exchanges, because you will be able to transact your coins for different available rates and you may get prices even higher than Zebpay sometimes. At these exchanges, you will need to wait for your money to be funded and the waiting time is 24 hours (depending on when you withdraw), while at localbitcoins, users send the funds instantly through IMPS, or 3-4 hours if NEFT is being done.

Yes I agree with Because Indian people earn in bitcoin & I see indian people interested in bitcoin. 

Even in Localbitcoin you dont have to give your personal details for trading but some time the rates are very different (in the sense rates are too much gap in buying and selling comparing to other exchanges) but other exchanges you have to give your personal details after that you can trade

In localbitocin you will have to give personal identification details at the time of registering. After their verification only you will be able to trade on localbitcoin. Yes while buying/selling also you may have to show the verification proof as many have those requirement in their trade conditions.

You can withdraw and deposit at Zebpay also instantly on any working day.Zebpay is available only on mobile devices and that is the only disadvantage of Zebpay.I hope they have a full website also or some similar app for Windows pc so that it can be accessed from both.

In india ,majority of people use phone more than desktop or laptop.i would say mostly all prefer using phone .so thats why zebpay has launched its app rather coming to desktop version.

Coinsecure is good option. Recently they have launched payment gateway [1] as well.
you should check that option. Apart from these there is not much adaption of bitcoin in day to day life. People are purchasing bitcoins for investment purpose or some for trading.

[1] https://bitcointalk.org/index.php?topic=1529470.0 (https://bitcointalk.org/index.php?topic=1529470.0)

Is Zebapy really exchanges BTC in india? as i do not see many of my friends using this.  Most of my friends use Coinbase wallet to exchanges their BTC. I have not yet started to use the wallet as i have not joined in any campaign.

I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.

India is very big country but still bitcoin is not spreading as its need to be because right now just few exchange sites accepting this no shops or other vendors going this if its works like Philippine or Indonesia then its could be very helpful for this community

I think Zebpay is a mobile only wallet and what is the buzz around Mumbai area you are talking about because i would like to hear as i will be traveling to Mumbai in a couple of weeks time.

I agree with you. But I think as the awareness of the concept grows amongst common people,  more fin institutes would invest in exchange platforms.
Campaigns regarding the concept, especially targetting collages, will surely enhance the spread of digital currencies.

Yes, zebpay is mobile only wallet. I personally interacted with some volunteers spreading awareness about bitcoin and other cryptocurrencies. They were spreading awareness regarding the concept, along with zebpay. Looks like zebpay is on the roll, especially in western India.

There have been campaigns to educate college students before.  :)
http://www.indiabitcoin.com/unocoin-educates-college-students-in-bangalore/

Yes, it is legal in India. Because more Indian are transaction by online. It goes to clean transaction for banking. Bitcoin is decentralised  currency.Good luck :)

Something is legal until it is labelled as illegal. No authority in India has labelled BTC as illegal, so YES it is legal as of now.

The usage is not that great if you're talking about spending BTC in day-to-day use. But yes, people have been trading and HODLING bitcoins a lot for monetary gains.

I am sure there must have been. But this has to be a continuous process, as youngsters' memory span is very short. New and exciting things keeps them wandering. Even a forum like this is perfect platform for creating awareness. I was vaguely aware of the concept of bitcoin from almost an year but I learnt most about crytocurrencies on this forum in last 2 weeks.

Considering there are many companies out there which provide bitcoin to INR exchange service after taking KYC from customer as per RBI norms, one can consider that bitcoin is not banned by Indian government.

Spreading awareness about bitcoin in the youth of any country is very difficult. As of now 99.99% people using bitcoin consider it as commodity instead of currency. Everyone wants to purchase and hold the bitcoins for long term huge profit. Just like real-estate, gold. Given this situation why youngsters will develop their interest in a commodity which they can not use as currency? How many times have we seen youngsters taking interest in RE, stock etc? very less.  Next point is bitcoin price is not something they can afford.  These two biggest point nullifies attempt of developing awareness about bitcoin in youth.

Everyone spends time to make some monetary gains and other than that what is the real purpose in it.The government of India really prompted the people to start using bitcoin by implementing useless rules and regulation regarding the fiat and in turn people started investing in bitcoin.

When did they start encouraging people to use bitcoin?there is no way they will do it .yup our government has introduced cashless payment and is promoting it but not cryptocurrency.it will take a long time that majority of  people will know about bitcoin/altcoins.