What happens if RBI decides to ban Bitcoins? What should I do with Bitcoins then

[krishnaverma]

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

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[AtOmX]

If you've trusted friends in US/Aus just transfer your wallet coins.

Vola!!! Half of your job is completed.

Then ask him/her to get US dollars and exchange here or in their country where exchange rates are minimal.

Good luck

[S_D]

You HODL forever then
Or you give em to me for half the price
Or you just go on shopping spree (there are lots of website accepting BTC payment)
Or you sell em at international exchange and bear wire transfer charges
Or you buy tenx tokens use the funds in India
O you could find million other ways to get your funds back
Or you stop thinking that such absurd decisions will be made.

[endlasuresh]

Exchange them in marketplace
exchange them for paypal or other currencies
Buy on online stores that ships in India. A lot of methods where we can spend our Bitcoins so no need to worry about it.

[RameshSekar]

We can exchange bitcoin in marketplace for write transfer, payza or PayPal cash .
But don't buy product with bitcoin(if banned) from abroad that ship to India, customs generally check the invoice and all payment proof to cross-check invoice, if we payed in bitcoin then they will take action against us or simply don't give that product. Both result in headache.

[kaka@1234]

Run away to some other country with ur bitcoins lol 


Btw u can trade them on exchanges like localbitcoins etc against PayPal or bank transfer

[rjigota]

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

Keep buying dear. RBI can "not recognize it as India' legal Tender" can "regulate cryptos", can "warn investors". I really doubt they can BAN cryptos.

[Blackshadow007]

Simply transfer to a safe wallet [ Blockchain ] and exchange for Cash via Localbitcoins

[gopaljiverma]

There is nothing to worry. Even if RBI decides to BAN bitcoin, they will give you some time to cash your present bitcoins. They are not going to do this instantly.

[Sachubaba]

They are not going to do this instantly.

Were you born after 8th November 2016?

RBI and government has already issued multiple warnings. Bitcoin holders must be prepared for an overnight ban.

[Sadikrx]

I don't think indian government will banned bitcoin. If bitcoin banned in india then it will affect on indian economy. Bitcoin is the perfect way to developed and make india rich. Everybody know that no one can't stop bitcoin and it's will growing till Apocalypse