Bitcoin Forum

Bitcoin has became integral part of my life since last couple of years... I started with faucets then I bought and started trading bitcoins and later started writing articles about bitcoins and cryptos and now I am spending a lot of my time in this like altcoins trading and many things..... with this news coming I am shocked.. please tell me what can I do to continue on this as RBI will stop any transactions of bitcoin from my bank so I won’t be able to buy or sell bitcoins which will make everything useless what work i do... please advice me what can i do in this situation

If India banned bitcoin,I will continue because we are not an Indian people.We are Filipino and in our country its not yet be ban so continue use on it.If our country going to ban bitcoin then that the time I will going to stop because theres nothing we can do just to respect what our govenment rules about it.

You did not help him bro, I think if there is nothing good you can say in a thread dont waste your time on replying here and dont waste our time reading your non sense reply dont just post to get the required activity on your sig campaign!


For the OP, I think it will help if you and other bitcoin user in your country will have a group and try to file an appeal to your government because in your case it will broke your life if that will totally happen.

I'm not sure if you mean that you would like to convert BTC to fiat currency there locally in India?

If so, then you should rather just get a Crypto debit card...then you can withdraw cash at an ATM.

Some options are Bitpay and WirexApp.com

Should be a few more available as well.

Can the news from where dude? Is this the source? https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms

Maybe this is just a concern from the RBI only, While the Indian Government Authority doesn't prohibit Bitcoin trade I think is still safe.

But as far as I know, India has not banned bitcoin.
So your source? Or just a FUD?

He is probably talking about this : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst. Honestly though, people should learn to understand better since it is clearly stated that only RBI is the one who will not deal and provide services to anyone using crypto, but it wasn't said that bitcoin was banned in India as a whole.

Don’t worry broo I am also from India and pretty much similar to you... it is no where states that bitcoin has banned the bitcoin...they said they will not deal with any activity on the bitcoins and with your own risks..you can continue what you are doing so far

I had time to think this is just a game to shake back altcoin prices. Not without cause, I have repeatedly heard the news from India, and the news only contains the issue of negative issues and clarified with positive issues, after that back again negative issues, just like that continuously. If you think optimist of course this becomes a big question ??? I think India still have much to learn again in mempermain kan their news, because in this age people are not as stupid as they think.

It was another stupid and wrong translation of the news. Now it is very popular, so it is better to look for information in several sources and from trusted people.
I think this news was specifically so incorrectly written to make people sell. But I think now the market is dumping or pump only when people just sell or buy, and this is not related to what kind of bad news. I do not understand why any leap of the course is tied to the news? Can you explain?

Move to Pakistan.  The people are just about the same and it is nearby.  Pakistan will let you Bitcoin just fine. 

Stop fud ppl. India didn’t ban BTC

I think you can still buy and sell bitcoin, but you need to deal anonymously, you can try to use perfect money and deposit, you can exchange your perfect money to bitcoin in any exchanger listed here https://perfectmoney.is/business-partners.html

Before I am using changer.com, but I don't know they are still safe, but you can use other exchange sites from perfect money exchanger list just choose high trust score so that you are safe to exchange your perfect money to bitcoin.

Then, if you couldn't trade online in any exchanges because your internet provider blocking any bitcoin related website and exchanges just use a VPN or buy VPS account so that you can browse anonymously using your own VPS account and VPN/

Make sure that you are using VPN with Socks5 so that you are safe.

I don't think that is going to help because in India there is not much awareness regarding the subject and we do not have much people who deal in the crypto currency. So there is not gonna be any good strength to oppose the decisions of the government. And as far as I am updated with this news, I think government has yet not imposed a ban on the crypto currency. It is just a statement release by the RBI to discontinue the dealings in virtual currencies. So you still have time to convert your digi currency into fiat. But after this statement release, one thing is for sure, government of India will soon take an action in this regard and that might be for sure banning of crypto currency. But until now no wrong has been done, you still have some time!

however, my bitcoin news will keep going for bitcoin trading. but with any note of my bitcoin activity, the risk remains my own responsibility. most of which prohibit bitcoin is not prohibiting bitcoin as a whole.

I think that the best thing you can do would be to go and continue working to accumulate more bitcoins and other altcoins and then sell them to foreigners out of your country for cash. This way, you will still be able to work or trade and earn crypto currencies and make money out of it. Although it would be quite a hassle since you are gonna be prone to scams. You can always use escrows for that so no worries. Another choice you can do is to get out of your country and live somewhere else where bitcoins and other cryptos are not banned or labeled illegal. I think that would be the best course of action.

But I think that this ban will be temporary because if your country sees how other countries that adopted cryptos are doing great, your government might reconsider it and change its views on it. But I'm not sure about that though or if it happens, it may take a years.

Anyways, good luck man.

You can simply do nothing but moving to another country or stop trading until everything is okay, I believe this is temporary so you should not care much about it. You can maybe hold your coins in wallets instead of trading.

not only you are shocked, but i and everyone are also shocked after hearing the news about RBI's attitude, though not the first time, but this is a big blow to the crypto world, and today we feel the impact.

and our attitude as a crypto user, we better survive and not release crypto from our hands, this correction will end. and we should always make a positive contribution to the crypto world.

First of all, i would like to say sorry as I know it must be hard to have bitcoin be banned on your country. What i can suggest is if you have a close friend on another country where you trust and you can also access. You can have him do the work and just give him a portion of your eanings as recompense. That way you can have a much more better way of still handling your cryptocurrency but outside the jursidiction of your country. Which I think works for everyone

India banned Bitcoin for the support of domestic stock market. The investment from stock market was shrinking and money flowing to crypto so India banned Crypto. But i will continue my investment through other countries.

for anyone looking for sources takes a look at this http://www.bbc.com/news/world-asia-india-43669730 or even the legitimate sources documents from RBI https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR264270719E5CB28249D7BCE07C5B3196C904.PDF

OP, You still can hold your cryptocurrencies or if you want to cash out, you should trade in cash with the cryptocurrency.

I do not know whether the news is true, but if it is true that Bitcoin is banned in India, I do not want to give up Bitcoin. My Bitcoin will continue for trading. There is no risk to my Bitcoin activities. I get good profits from Bitcoin.
Which means that I can meet all the needs of my family beautifully. Bitcoin is improving my financial condition. So I will continue my Bitcoin activities.

You don't have to be panic about it as there are many more options open for us to buy and sell the bitcoin staying in India. You can always buy or sell them over the local bitcoins and it has become main trade center after RBI filed the rule for ban.

If you are not comfortable with the idea of local bitocin then get registered with Payza exchanger who accepts Indian accounts and you can buy bitocin with international rates. The good news is these rates are higher than the zebpay now. For selling your coins you can use both the options in similar way.

---

PS All the options are temporary for now and we have to keep sharing different options to help each other. :-)

Even if it is banned you can alqays use them if you really wanted too because there will always be a loop hole into everything but the factvis it is illegal anymore and male sure that you will never ever be caught doing that thing because it qill have a bad consequences because younare using an illegal thing into your cointry you kight end up in prison or you can always go to another country for sure but that will cost you a lot of money just do bitcoins in a invisible mode as much as possible for your safety

Try to withdraw from outlet not on banks when you sell some of your tokens, since your local digital wallet will tell you which counter can you withdraw your money aside from banks.

The main thing you must understand is that, since there were many threads regarding this, i made a thorough research and no where i could find that there is a ban in bitcoin or trading, they only wanted to stop the flow of money from fiat and vice versa and the banks will be stopping their service to cryptocurrency market and there is not a ban in trading.

Like he said bitcoin was not totally banned so keep calm and build a positive vibe to this industry like stop spreading fud or something  :) , in my experience, our government has banned bitcoin as a payment method or any service related but we can still use it as stock. I believe the government will do their best in order to protect their people on the other hand industry player will make a deal with them in order to make their business keep running since in India bitcoin industry is going so fast, so I'm really sure bitcoin will not totally be banned.

India did NOT ban Bitcoins, these are all fake news which probably are spread around so as to tank the prices and to buy cheaper coins.

From the news I read, bitcoin is not ban on India. I think you read false news. Its good for you if you do not want to quit from investing on bitcoin, because i am believe bitcoin is good investment in the future.

they have banned it because they are scared of it

Did you already try using localbitcoins? there are lots of payment options there, just be careful when having a trade, review first their profile if they have positive feedback, good luck to you bro, localbitcoins is the number one option you have,, :)

FUD or not, you can still save your bitcoins but just don't make any transaction until you haven't prove it's real. If you are really want to still pursue supporting and earning bitcoin, you really need to go to other country where cryptos are legal.

i think, when a government or country banned bitcoin it means that "they didnt support it and if any citizen of the country have a problem with bitcoin and all of those stuff, then the government will not take any responsibilities of the citizen problem with bitcoin itself.

Literally every country in the world has had a bank announce this. Then declare that Bitcoin is banned in that country.


We need a press release stating that bank transfers have been banned in <insert country here>. The article will state that the developers of the Bitcoin protocol from <insert country here> have decided not to implement the slow bank transfers into Bitcoin and any such attempt would not be allowed on the network.

Even some countries banned bitcoin, but as long as our country giving freedom on crypto business, we must stay access bitcoin, because it is a top source to reduce economic problem, hopefully government would consider that bitcoin is our main economy supply.

I think there is no reason to quit bitcoin, for as long as we are earning here, there is no reason to quit. Even if other countries banned the bitcoin, we can still continue to use it.

of course this is not the first thing to happen other than india already some countries that have banned bitcoin but this should not be the thing that makes you have to stop from bitcoin

If bitcoin is prohibited in India, there are still many countries in the world who continue to play bitcoins. So do not worry if you do not want to give up bitcoin, then invest and trade with other countries through the internet. Bitcoin will expand throughout the world in the future. It is the advancement of modern technology in this life.

india is free country not like china whos communist so everything that government says are must be followed..but in india the RBI i guess only trying how big its connection and power above crypto thats why they are creating th kind of issue.for me eventhougy im not an indian i can see that this problem will only a mild issue and if you all bitcoiners from india make some noise against this then RBI will stop this..and the cryptocurrency world will continue spreading in the whole indian countries

Your efforts are not going to be useless as long as you keep earning bitcoin, what is happening is that is going to be a lot harder to use your bitcoin since now it's impossible for you to convert it to fiat, so you have only have some options, get some other source of income, keep working for bitcoin and wait until the law changes, or you move to a country in which you can convert your bitcoin to fiat.

I think you have taken the best decision. Because crypto in not banned in India as a whole. RBI just said that they will not deal with bitcoin. The news that it is banned in India is just a FUD. You can certainly be on Bitcoin and there is no reason for you to quit it.

hmm, i think there is still one way to keep doing bitcoin transactions, that is through "underground" path. but it seems to be very difficult and could be illegal or criminal. you can sell your bitcoins to other foreign currencies that are more commonly accept bitcoins, such as dollars, euros etc. after that, the money you have converted into local currency india, can through paypal and other services.

Keep earning bitcoins, and if you can find someone you trust in another country who can help you liquidate your bitcoins and send the money to you then you should do that.

India forbids bitcoin as a method of payment or service. We must continue to access bitcoin, because this is the main source to reduce economic problems, hopefully the government will assume that bitcoin is our main economic supply, do not panic with everything related to crypto. I will continue to support cryptocurrency forever.

Don't think too much about it. Till now Govt of India has taken no step against crypto legality, but RBI has opposed and refuse to support Crypto transactions. So there is nothing illegal about this. You can locally exchange BTC for Fiat or can use some platforms like remitano to exchange your BTC for Fiat at international level.

nothing to worry brother. you can still buy and sell bitcoins and altcoins anonymously via exchangers or trusted online exchange websites. You shouldn't stop trading bitcoins as someday Indian government will lift the ban surely.

Your suggestion of moving to another country can be a solution. but to move the country requires a long process and the big money. If I think it is better to choose one that is good, it will survive or not, if I stay afloat for bitcoin

as long as bitcoin still has a price, i will still look it up. well, I guess those who banned bitcoin, will regret someday. when a country makes good use of bitcoin for the benefit of a country, it is likely that bitcoin can pay off debt, or improve their economy. well, i think of it like that.

Where did you hear that statement? The central bank of India just restricted banks from dealing with crypto exchanges.

for such situations is a bit difficult to give suggestions, but if we force too, then nothing is produced or can be said to be useless .. so inevitably we must follow the rules that have been made.

Maybe you can use a crypto debit card, just withdraw it in atm. But are you sure that it is already banned in india?  I Mean you should double check because I have not read any banning from the internet. If this is true why there is no news surfacing about this?

Option 1:  Move to another country

Option 2:  Open up a Foreign Bank Account , and use it as an intermediate between an exchange in a foreign county and your local Indian bank account.
The Exchange has to have a sell bitcoin to fiat option. Transferring only fiat between your local Indian bank and the foreign bank bypasses their censorship.

Option 3:  Use a Paypal account as an intermediate between an exchange in a foreign county and your local Indian bank account.
The Exchange has to accept Paypal.
SouthXchange.com used to accept paypal last I remember.

Option 4:  If you are paid in bitcoins and only need to convert it to Indian money, just use your bitcoins to buy giftcards and spend the gift cards.
Go to https://www.gyft.com or https://www.egifter.com or https://www.cardfy.com and purchase the desired Gift Card with the BTC

that is what we are also facing that problem and i am also thinking about to move to somewhere else where i can freely use bitcoin,  because i am earning a good amount of money from bitcoin trading and i am not in position to quit my online business.

I never intended to give up or not use Bitcoin or altcoin at this time! For me, Bitcoin and altcoin will shape a modern means of payment in the future!

I can only insist on your dream in this matter, maybe you will get great returns in a few years. The government usually excludes bitcoins out of the protection of its own economy, because they think bitcoin will only destroy the stability of the current economic order, and do not bring taxes to them.

Read this thread https://bitcointalk.org/index.php?topic=3263490.0! there is a news source discussing this issue

now things you can do only by moving to another country that does not prohibit bitcoin, pakistan I think is suitable because not too far from your country, there you can continue trading and investment with bitcoin.

But of course, we should not be affected of one nations decisions. countries that accepts bitcoin are more in number rather than those who ban it. Let us go on.

mate i have been having bitcoins since 2009 but never tried doing it in india . india is too far from even understanding the tech and will always be 20 years behind any western country thats a tragedy

Things may happened in some reason and we do not need to loose our dreams and be affected on some things that may happened out of our mind, they have their own reason why they banned it in their country, i think if where living in the same country i suggest you to migrate in other country where bitcoin is legal and you can use your bitcoin for sure.

I think the ban will stay in place until they have proper regulations and tax structure for it.

As far as I know this issue don't have any basis and maybe OP just freek out when he knew this because if I were him I definitely think what should I do. Or I'll migrate to other country where bitcoin is legal like Japan and I can do everything I want in bitcoin though it's not easy to migrate that easy but with the help of money it will be at ease.

Do not be disturbed, Bitcoin has not been ban in India, they just warn there citizen about transaction with it, just the way several countries do, use several platform available to convert your BTC to your local currency, I use Remitano and luno, sure it should be okay for you.

But as far as I know, India has not banned bitcoin.I'm not sure if you mean that you would like to convert BTC to fiat currency there locally in India?

If so, then you should rather just get a Crypto debit card...then you can withdraw cash at an ATM.

Some options are Bitpay and WirexApp.com

Bitcoin has the advantage of being anonymous and international so you can invest in bitcoins even if your country has forbidden it. And perhaps the prohibition will soon be removed.

No not yet banned.RBI has said that itwould give three months time for bitcoin holders to convert them in to fiat and quit te bitcoin market.But only after three months,we would clearly come to know that whether bitcoin would be banned or not.For me,i have a friend in dubai and i have decided to sell my bitcoins to him and ask him to send in indian currency to my bank account if such critical situation occurs.

The investment in stock market has decreased substantially, it has been banned in India due to economic loss and recession in the domestic market. In this case, the restriction can be removed from it, if it does not happen, then other quotations can become converted into bitcoins

What the hell are you saying man..how can one simply leave his home,country and work just because he want to use bitcoin...please tell something realistic..well i have heard the news that bitcoin is still not officially banned in India so i think you need some more research

Yes, it is true that Indian government don't want us to use Bitcoin or other cryptocurrencies and it has instructed banking sectors to stop providing services to the exchanges involved in cryptocurrency trading but I don't think that it will impact anything on cryptocurrencies in the long term. I recently had a discussion with vice president of leading domestic exchange and he said that market is still not matured and hence it will create chaos for the short term, but there is an option for anyone to use cash or even International exchanges to trade in cryptocurrencies and bring money back to us from fiat payment processors. At this stage, there is no law to prevent us from using cryptocurrencies so there is nothing illegal in it.

They have a lot of smart people in India, that's why so many Indians are working as doctors and scientists around the world. The problem is their government is dumb and the wages are extremely low compared to the West, that's why most smart people are leaving India to work abroad. Saying that they are far from understanding it is far fetched, they just don't want it in their country because their fiat has such a low value that the crisis is lurking right around the corner and they don't want BTC to bring it earlier than expected. They are buying time.

RBI has already given instructions to all the banks to withdraw the transaction support related to cryptocurrency services and many banks has already implemented these instructions. In future, it will be difficult to buy and sell the btc through your bank account. In that case, you can use localbitcoins to buy and sell the bitcoins; but also note that there will be a difference between the price.

This is bad news for bitcoin world and your job in Bitcoin world. But any problem there must be also solution, if you can not continue bitcoin activity in india country, i suggest to move country, if you think bitcoin is future you.
keep the spirit, run out of the dark, be bright. ;)

Bitcoin has become an integral part of my life. Hearing this news was so shocking. Why should bitcoin be banned at all. Anyway I am not quitting bitcoin

if you dont want to quit bitcoin and you live in india that must be so hard but you can use vpn to change your ip address in different countries but im not sure if it wont affect your account

You sell it to other people or to your acquaintances abroad. That is a difficult situation but you do not have to break it. Because of your safety it also depends. But if you really want the crypto currency you can still have it but you do not have to have a bank transaction and when you really have money you can sell it to your friend.

Yes, if Bitcoin is banned in India, I will not give up Bitcoin. I will buy and invest Bitcoin as usual. Because it was banned in India but in other countries it was not banned. So I will be with bitcoin and buy and sell it.

The investment in stock market has decreased substantially, it has been banned in India due to economic loss and recession in the domestic market and also due to money laundring. I think in this case, if restrictions will be removed from it, then other quotations can become converted into bitcoins. And if Government did not removed restrictions if it, then i am in big tension because i made some good investments in cryptos. But i will not quit it and makes some other alternatives for trading.

which I know until now India does not ban bitcoin, maybe it's just fake news circulating around you, so keep the spirit to stick with bitcoin before there's really any official news from the Indian government, if they forbid any of its citizens to use bicoin for any.

it is no where states that bitcoin has banned the bitcoin...they said they will not deal with any activity on the bitcoins and with your own risks

If you are in India, then you need to sell your Bitcoin. As you mentioned that Indian government is banning Bitcoin, so you will be doing illegal activities if you are dealing with Bitcoin. My advise is check the credibility of the banning news and then act accordingly.

I understand they have not yet banned instead they have set up a committee to look into the regulation and its usage further in the future. We have to wait for clear guidelines from government and many are still doing at their own risk which is upto any individual. I would still wait for a detailed report from the committee and then we can have further more discussions on this topic.

Similar to India there were more other countries that have banned the usage of bitcoin. From my understanding there are more research going to find the good about bitcoin. As a beginning recently India has come up with some positive response for bitcoin usage with regulations finding the necessity.

India ban starts today.  Ouch

We must never give up. If some government Bans Bitcoin it's no matter to you. You just must earn money for yourself. Government's does not always think only about the people.

Well if you are based on India then I felt bad for you with the current situation that you're involved. You can't do anything about that since you're just one. All that you can do is just wait for your government to uplift that ban. If you really love bitcoin that much then I respect your decision of holding it till the very end.

It feels so bad for those users and investors who were based in India. They are dealing with a serious kind of problem and it's not easy to overcome. Well if you really love bitcoin then you must wait until the government change its mind. We all know how beneficial bitcoin is soa it's worth the wait.

India didn't ban bitcoin yet dude. They only halted cryptocurrency to INR withdrawals and deposits. You can still hold those in Indian wallets like Zebpay. If you are concerned you can also transfer those currencies to other international wallets or exchanges like binance.
The supreme court of India has a hearing scheduled on 20th July. A good news in expected then.
If by any case, they bans crypto you can also withdraw crypto to Fiat using P2P exchanges like localbitcoins.

I believe that Indian government has nothing to do with this because they have a full support in cryptocurrency,i guess its just the Banks whos making this things complicated towards crypto and for me,this will be resolved in just a couple of months,so you dont have to be sad since there stil no finalization about the bannings

You do not help him bro, it will disrupt your life if that absolutely happens.

I think this is the right way to not give up as a bitcoin users because many people use bitcoin we hope to earn a bitcoin for bitcoin because it does not matter if you're banned from bitcoin in other countries.

I think you should go to other country in order to continue your journey in bitcoin, through this you can still manage your investment without worrying about the regulations of your government.

It is acceptable many places. You can trade it using the wallets over vast range of exchanges across the globe.

Hence, banning it in one country doesn't actually affect it.

Well not all countries allowed in such countries and that's what makes sad.  Even though you are in india still continue to adapt bitcoin because it is the wise decision for you until indian government realized that bitcoin is the future.

Yeah i heard that bitcoin banned in india but after few months cryptocurrency  also banned in Pakistan.
Here was only one exchange there we were exchange Bitcoin to PKR but Exchange closed.
Now again we can buy or sell cryptocurrency on another exchange but there is huge trading fee (8.2% trading fee).  :-\

I don't remember India banning bitcoin. I think what they meant was that they want people to invest on their own discretion. But i believe there is always ways to get it even if they have banned it. You can buy from individual trusted groups or even on local bitcoins. Last i checked i don't remember a payment made being tagged bitcoin payment. Just avoid websites that requires KYC for you to purchase. 

India not banning bitcoin RBI (Reserve Bank of India) only stop the INR deposits and withdrawal from exchanges. Now people are trading peer to peer, cash. I think RBI reverse this ban in near future.

Gotta a lot of question for this actually, how do you can use bitcoin when your country has banned bitcoin, is any crypto transaction still working or no? And how hard the consequences for the bitcoiners if they're find by the government?

This is kinda off topic from what you've said cloudbleron…

Anyways if India bans BTC, then it's either you'll have to stop or you can pursue it but it is completely risky, then that leaves you no choice but to go undercover, no matter what you do they can actually trace you and you're location as well, it's a dangerous decision pushing through, you can actually call for help from an expert if you do actually want to but BTC and make some investments out of it, but again I do not recommend you pushing through this, you can go behind bars if you get caught, anyways best of luck to you and your country and may the Government unban it soon.