Bitcoin Forum

Hi all.. I am absolutely new to this Bitcoin/ Ethereum and the overall cryptocurrency space. While I have read about bitcoin earlier i just got to know about the trading part. I have seen there are multiple exchanges and noticed in this forum that CoinSecure is the most highly rated one. I wanted to know from the more experienced members here..

a) If we are buying Bitcoin from any of this exchanges like CoinSecure / Btcxindia.com and then when I want to sell it - is it guaranteed that I would be able to sell it ? Is there a possibility that after buying, I am not able to sell and get stuck with them ?

b)Though it's a bitcoin forum - any of you have experience with Ethereum ? How do you see the value of Ethereum moving ?

c) Any of you have specific experience with BtcxIndia.com and EthexIndia.com that you can share ?

d) In India are there any specific tax implications that I should be aware of while trading Bitcoins ?

I want to get into this cryptocurrency trading but trying to get some more info. the questions above might be a little generic but please help and also provide any other info that a begineer like me should know.

Welcome to the community!

You won't be stuck with them, unless something really bad happens, like banning BTC in India or leak in bitcoin security.

I haven't dealt a lot in ETH, pump and dump still in force with this one!

Unprofessional & high fees, I'll suggest to check for alternative.


Right now the law area is a bit murky in India. You shall pay taxes on profit you made from trading cryptos. Check with a tax consultant if your income shall fall under PGBP or Capital gains or IOS.

Bitcoin is sold in India at a premium fluctuating from 10-30 %

Trading fees are still high HODL, and we shall be rich soon :D

Good luck!

Thanks so much for the prompt reply !

What would be a good exchange to start trading ? coinsecure or something else ?

what is "pump and dump" ?

Also what does HODL mean ? These might all be very common but am just learning...with a little help will soon get up to speed :)

* coinsecure is really good. You could try pocketbits.in[1] as well.  Pocketbits.in is open 24x7 and has fast KYC procedure to get you going. Currently KYC with coinsecure is loaded thus you may face delay of some days or some weeks depending on load at coinsecure. So for quick start check pocketbits along with coinsecure. BTXindia and localbitcoins[2] as well.

[1] https://bitcointalk.org/index.php?topic=1782398.0 (https://bitcointalk.org/index.php?topic=1782398.0)
[2]  https://localbitcoins.com (https://localbitcoins.com)


* pump and dump is a phenomenon commonly observed in stock, bitcoin exchange, where big players with load of financial strength create artificial hike in price. Once other people starts to purchase on large scale they simply dump their holdings and earn huge profit. This causes sudden drop in price.  Any unjustified rise in price is potential sign of 'pump and dump' scenario.

* HODL is bitcoin lingo which means don't sell your bitcoins for short term gain. Instead hold them for longer for bigger returns.

If u want quick completion of trade, LocalBitcoins.com is the best option in my opinion.

U may check rates of all Indian exchanges in real time @ http://www.bitcoinrates.in/

Thanks so much for the replies..it is really great to have such a helpful community.

Regards
Rishi

But for as a buyer you won't get best rates on localbitcoins.There Rates are decided by individual traders as it is peee to per trade platform and getting better rates is nearly impossible.

pocketbits.in is a new exchange and they aren't active on forums too. I would suggest not to go for it.
Go for coinsecure.in or unocoin.com(if coinsecure is too overwhelming for you) they might take longer to get you verified but that ain't too bad.

Also have a look at cryptowat.ch, it list all major international crypto exchanges.

Only problem with Coinsecure is that KYC verification. It is open secret in the forum. Once KYC is done, coinsecure is more preferred over other options. Given that coinsecure has quick withdrawals.