BTC Purchase Directly now possible :D

[Blackshadow007]

It is really good news that Bitstamp are allowing other country in that India is included to trade bitcoin using credit / debit card but the problem is they only allow usd or euro currency to be used so the transaction in card will be shown as usd or euro conversion and that will affect forex exchange. So be careful when you are going to use their service as tax problem will come

What tax problem will come ?

yes there will be 2.5% currency conversion for this .

[Nam3]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

[bitcoinisbest]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

[Nam3]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

Credit card. What Indian exchange are you referring to?

[Blackshadow007]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

[Nam3]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

DC/CC means paying 4% (Money Polo fee for adding funds via other cards) and 2.5-3% currency conversion fee (INR to USD). This makes it 6.5-7% Let's say I'm thinking of buying one BTC and current price is 1000USD, so I would be paying approximately 1070? Well, not a good deal though.

That's almost the same amount one will find on Local Bit Coins, what's the advantage then?

[bitcoinisbest]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

[Blackshadow007]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

There is no limit from MP end when you are Level 2 Verified with them but not sure about Indian Govt. end .. , Withdraw limit is 2000$ per day for your VISA Card via ATM .

[ololajulo]

Convenience in the adoption will vary with countries, however, little care will be needed before ones adoption. I will suggest a period of acceptability for some countries, inquire and consider the transaction fee

[deadley]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

Income tax Authority can ask question from according to bill pay of credit card. Like you file ITR for 500k and paid bill of CC for more then 500k for buying bitcoin from outside India. Then it will be really hard for you explain.

[Forbiddenone]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

Income tax Authority can ask question from according to bill pay of credit card. Like you file ITR for 500k and paid bill of CC for more then 500k for buying bitcoin from outside India. Then it will be really hard for you explain.

Who is buying bitcoin worth 500k from india?bitcoin itself is designed to keep its user anonymous and also after demonetisation nobody will even think of making transaction that much for a digital unit.

[bitcoinisbest]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

Income tax Authority can ask question from according to bill pay of credit card. Like you file ITR for 500k and paid bill of CC for more then 500k for buying bitcoin from outside India. Then it will be really hard for you explain.

Who is buying bitcoin worth 500k from india?bitcoin itself is designed to keep its user anonymous and also after demonetisation nobody will even think of making transaction that much for a digital unit.

500k is only 5Lacs in INR. So in todays time you will get if 70k per btc around 7 BTC only. So during whole year you wont buy 7 btc from International market? Then whats the point of using the International market?

[deadley]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

Income tax Authority can ask question from according to bill pay of credit card. Like you file ITR for 500k and paid bill of CC for more then 500k for buying bitcoin from outside India. Then it will be really hard for you explain.

Who is buying bitcoin worth 500k from india?bitcoin itself is designed to keep its user anonymous and also after demonetisation nobody will even think of making transaction that much for a digital unit.

I just gave example, even if you buy 200-300k and don't file ITR, just wait for notice from Income tax authority. Credit card transaction is too much trackable, and IT Authority always keep eye on that.

[Viviyang]

It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here

This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?

How do you buy from Moneypolo, do You make bank transfer or  payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.

You can buy via Moneypolo with debit / credit card

Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR

Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?

Income tax Authority can ask question from according to bill pay of credit card. Like you file ITR for 500k and paid bill of CC for more then 500k for buying bitcoin from outside India. Then it will be really hard for you explain.

Who is buying bitcoin worth 500k from india?bitcoin itself is designed to keep its user anonymous and also after demonetisation nobody will even think of making transaction that much for a digital unit.

I just gave example, even if you buy 200-300k and don't file ITR, just wait for notice from Income tax authority. Credit card transaction is too much trackable, and IT Authority always keep eye on that.

Even if you buy directly from your bank then also you have to give detail to the income tax authority so it is better to show in your income tax about the trading details and its profit also and pay tax to be in safer side.