What is the procedure to create my own Bitcoin Exchange business in India? What will be the total expense involved in all the procedure ?

To earn from a signature campaigns you need to have following:
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2) Some of the campaigns have post requirements as well.
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Getting such currencies regulated by Indian government is a big task. However, it is expected that government may take some decision regarding cryptocurrencies in India.

There are no signature campaigns for newbie. As you gain higher levels on this forum, you can apply for signature campaign. If accepted, you will be paid for the signature.

More and more people are already investing in bitcoins in India. Let us see if government also legalizes bitcoins in future.

If we stop buying from these, then where can we buy from. I just made an account on Unocoin after reading positive reviews about it.

There are many alternative coins doing good but the issue is how to invest in them if you are from India. Most of the exchanges allow trading in bitcoins only.

What happens if RBI decides to ban Bitcoins? What will happen to the Bitcoins accumulated in my account then ?

I have seen that a lot of service providers are using bitcoins as mode of payment for services outside India. Will this trend increase in India as well ?

It is really sad to hear this but the problem is that all the other exchanges also have high transaction fees leaving no other option for us.

I am particularly interested in Ripple but could not find any exchange here that allows so. Any Indian here who is investing in Ripple ?

What is the current legal situation of Bitcoin in India? Is it safe to invest in Bitcoin right now and what are government regulations regarding this?

Here are answers to your questions:
1) You can get wallet buy making account on any exchange like unocoin.com.
2) Yes, it is safe to buy bitcoins from websites that charge fees.
Regarding investment in other cryptocurrencies, in my opinion it is better to go with bitcoins only especially if you are investing for long term.

I would like to ask one more question here that what happens if the exchange we are using for trading bitcoins gets hacked. After they are hacked, one will not be able to access his account, then how will he trade the accumulated bitcoins.

If a project is asking you money before joining, it is certainly a red flag. This is very common in the field of internet marketing and you should avoid such projects.

I have some questions regarding investing in bitcoin in India:
1) I have made an account on unocoin.com but there are transaction fees on buying and selling there. Is there any way any Indian can buy and sell bitcoin without any transaction fees. I saw that even adding balance on the website through net banking requires 1.9% fees. Is there any way to avoid it?
2) What will happen to my invested money if the exchange I am using shuts down ?
3) Are here Indian members making profits through exchanges like unocoin and zebpay. If yes, please share you experience.

It is certainly possible if we analyze the past trends. There had been 100% increase in the price is we see the growth in last 30 days. However, only thing that goes against this possibility is that BTC is already at very high level and thus there may be corrections.

Here are some of the facts that will help you:
1) Bitcoin is already legalized in some countries. In case, it gets banned in your country, you can transfer the bitcoins to the exchange present in those countries.
2) Only way this can stop is if there is worldwide decision for doing so in all governments.
3) In case it happens, this will affect all other cryptocurrencies and lot of people here will loose a lot of money.

I am yet to use bitcoin as a mode of payment but will do so in future. I think I will be providing services related to internet marketing in order to do so. In fact, this is right time for websites like Fiverr to allow BTC as mode of payment.

$10000 mark is certainly motivating. In my opinion, there will be steady rise till the end of this year and then there will be correction. If you want to book a profit of 10-20% in next 20-30 days, this is certainly the right time.
In case, you are buying for long term, then you can expect up to 100% return in a year.