Do I have any option to convert BTC or USDT to INR without P2P?

[LucyFurr]

I am exploring what are the options to convert crypto to INR without involving p2p because bank freeze doesn't have any ending at the moment so for the safety of funds I am looking for options apart from CoinDCX which seems the only exchange with INR pair but they are not seem to be clean.

[TheUltraElite]

I have been staying away from exchanges and using gift cards for the same. The cost is high as far the conversion is - its close to 10% which is what I convert in bulk and allow that for groceries for a few months.

However this does not exactly answer your query because the INR there is non-transferable. 

[avikz]

I am exploring what are the options to convert crypto to INR without involving p2p because bank freeze doesn't have any ending at the moment so for the safety of funds I am looking for options apart from CoinDCX which seems the only exchange with INR pair but they are not seem to be clean.

Using a FIU registered exchange to convert your cryptos to INR will ensure your bank account is not frozen. However, you will have to pay 30% tax for sure. So rather than using any random service, use CoinDCX. They are registered with FIU so your bank account will not be frozen unless you bring in a huge amount of INR which is not matching with your usual volume of transactions.

I don't think any other safe option is available except the gift card route.

[Bitcoin Smith]

Using a FIU registered exchange to convert your cryptos to INR will ensure your bank account is not frozen. However, you will have to pay 30% tax for sure. So rather than using any random service, use CoinDCX.

I am not wrong even the FIU registered exchanges doesn't have BTC/INR pair, so we have to take the risk of p2p only if we really want to convert to INR. I still use p2p but on paxful with some verfied traders which holds the risk but it's a lot better than Binance p2p because mostly the place is filled with scammers while on Paxful there are some legitimate traders who pay using payment processor. I guess it brings some security when we are getting paid using processor instead of direct UPI?

[JSRAW]

 ^^ CoinDCX does have BTC/INR pair. OP like avikz mentioned, CoinDCX is your best bet.

@TheUltraElite how this gift card thingy works in general?  Mind sharing some legit site where I can look at it (gift cards in usd/INR). I won't mind exploring an alternative of credit card for chota mota online kharcha.

[TheUltraElite]

@TheUltraElite how this gift card thingy works in general?  Mind sharing some legit site where I can look at it (gift cards in usd/INR). I won't mind exploring an alternative of credit card for chota mota online kharcha.

There are websites where you can buy gift cards that you can redeem on a merchant site like Myntra/Zomato/Bigbasket/Amazon and many more. I use Bitrefill and I spend a month's worth of grocery money on buying a gift card and then redeem it on the merchant site to get the money in the wallet there and then spend it as I need. Been using them for like more than 2years now.

The fee for conversion comes out to be close to 10% so its big but at present it is a nice way to spend your crypto.

If you want my Bitrefill referral link, PM me.

[libert19]

You can use coinswitch (https://play.google.com/store/apps/details?id=com.coinswitch.kuber). I have been using it since last couple months after colodax was shutdown and it has been working good.

You have to show source of your funds though (just a normal form you have to fill — do you own wallet where funds came from? what's source of funds? and few others). I withdraw signature campaign earnings so I show it as freelance income.

[JSRAW]

@TheUltraElite how this gift card thingy works in general?  Mind sharing some legit site where I can look at it (gift cards in usd/INR). I won't mind exploring an alternative of credit card for chota mota online kharcha.

There are websites where you can buy gift cards that you can redeem on a merchant site like Myntra/Zomato/Bigbasket/Amazon and many more. I use Bitrefill and I spend a month's worth of grocery money on buying a gift card and then redeem it on the merchant site to get the money in the wallet there and then spend it as I need. Been using them for like more than 2years now.

The fee for conversion comes out to be close to 10% so its big but at present it is a nice way to spend your crypto.

If you want my Bitrefill referral link, PM me.

I wanted to buy some software but didn't find on the site But thanks and Yes, please send me your referral link.

We stand at top 6-7 in e-commerce market share and I am assuming there is no Indian company offering such service but Swedish are catering Indian customer. Guess, the former could have tap this market if our BTC policymakers had some sense.

[LucyFurr]

You can use coinswitch (https://play.google.com/store/apps/details?id=com.coinswitch.kuber). I have been using it since last couple months after colodax was shutdown and it has been working good.

Thanks I will check that out.

[libert19]

You can use coinswitch (https://play.google.com/store/apps/details?id=com.coinswitch.kuber). I have been using it since last couple months after colodax was shutdown and it has been working good.

Thanks I will check that out.

So I would just like to mention that I made a deposit two days ago, and this time I wasn't given form to fill on CoinSwitch app itself to verify deposit, had to contact their customer support why my deposit is not showing up and they asked me to verify my private wallet's ownership, I have given info to verify same but they are not satisfied I assume so they are now asking for video recording of me using wallet and showing all necessary info which I am going to send today.

I'll update here, how it goes.

Update: After going back and forth via mails for few days, I finally received deposit today. They said there may be ocassional checks due to regulatory/security reasons.

[TheUltraElite]

-snip-

Could you give us a little bit more detailed description as to how you completed this verification? I mean making a video of one's self is scary to hand over to someone I dont know.

Or was it just a screen recording of you owning/accessing that wallet?

[libert19]

-snip-

Could you give us a little bit more detailed description as to how you completed this verification? I mean making a video of one's self is scary to hand over to someone I dont know.

Or was it just a screen recording of you owning/accessing that wallet?

There was no face recording (I did that during kyc though), here It was just screen recording of me accessing the wallet and showing transaction that was sent to coinswitch.

[Bitcoin Smith]

here It was just screen recording of me accessing the wallet and showing transaction that was sent to coinswitch.

That's too invasive, though.

I have seen exchanges asking for proof of funds but not in this way but what option do we have, we go through p2p and take the risk of bank account freeze or choose exchanges with some psych level policies regarding KYC.

IMO if Coinbase enters we might have BTC/INR pair that will be a game changer...