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Author Topic: How to buy bitcoin in india  (Read 219 times)
fabuloveu
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June 11, 2019, 10:52:04 PM
 #1

Hello Guyz, i got an information that cryptocurrency law are very tight in india. Is it true that anyone caught in cryptocurrency dealing in india will get a prison term. Any indian native here, Any reliable and safe source to buy bitcoin with india rupee. I need your opinion now. it is very urgent.

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June 12, 2019, 05:50:32 AM
 #2

It is just a fake news that is spreading everywhere,till no announcement from government that it is illegal to hold cryptos.

But if you want to buy bitcoin with fiat then localbitcoin site is the best for you.

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June 12, 2019, 09:17:50 AM
 #3

Hello Guyz, i got an information that cryptocurrency law are very tight in india. Is it true that anyone caught in cryptocurrency dealing in india will get a prison term. Any indian native here, Any reliable and safe source to buy bitcoin with india rupee. I need your opinion now. it is very urgent.

You can use this forum to buy, be careful about who you are dealing with. check their trust rating and search for their reputation thread. You can also buy bitcoin from Localbitcoins from verified buyers with Indian rupee (bank transfer, imps, upi etc..)
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June 20, 2019, 06:05:42 AM
 #4

Hello Guyz, i got an information that cryptocurrency law are very tight in india. Is it true that anyone caught in cryptocurrency dealing in india will get a prison term. Any indian native here, Any reliable and safe source to buy bitcoin with india rupee. I need your opinion now. it is very urgent.

You can use this forum to buy, be careful about who you are dealing with. check their trust rating and search for their reputation thread. You can also buy bitcoin from Localbitcoins from verified buyers with Indian rupee (bank transfer, imps, upi etc..)

But aren't the rates too high? Like around 20-30% more?

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June 21, 2019, 05:17:27 AM
Last edit: June 21, 2019, 05:59:07 AM by Bitlover10
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 #5

Hello Guyz, i got an information that cryptocurrency law are very tight in india. Is it true that anyone caught in cryptocurrency dealing in india will get a prison term.

Yes that's true dealing with cryptocurrency in India is getting worse and worse and after RBI restrictions on banking system this is going more worse than ever. Also there are so many rumors coming day by day about crypto-currency like last rumors was if you hold crypto or dealing with crypto then you get 10 years in jail. But this is just rumors and their is no such official announcement by Indian government that you get jail if you holding Crypto. So no one can make you jail for holding crypto. That kind of rumors makes people afraid to invest in bitcoin. So if that kind of news you saw so first you do research and find the source of the news.

Any reliable and safe source to buy bitcoin with india rupee. I need your opinion now. it is very urgent.

I used wazirx for buying Bitcoin with fiat. But you need to follow this instructions :- When you are going to buy bitcoin on wazirx then during payment don't put reference like buy bitcoin, wazirx payment, payment for crypto etc. Because if banks caught that reference then banks could seized both accounts (buyer and seller account) .

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June 21, 2019, 06:45:27 AM
 #6


I used wazirx for buying Bitcoin with fiat. But you need to follow this instructions :- When you are going to buy bitcoin on wazirx then during payment don't put reference like buy bitcoin, wazirx payment, payment for crypto etc. Because if banks caught that reference then banks could seized both accounts (buyer and seller account) .

Is this works same as localbitcoin right? Just now saw the site but don't know how often we can find traders on this site but on localbitcoin we can find traders in minutes.

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June 22, 2019, 02:11:21 AM
 #7


I never used localbitcoin so I am not able to tell you anything about it. May be others members in this forum who used localbitcoin can reply here with his experience. For Wazirx I can say I never have any issues regarding buy and selling bitcoin and they have a good liquidity in trading. So you dont have to wait for long time for matching your price order because there are so many people keep buying and selling bitcoin. I recommend to watch you this viedeo for how to buy and sell bitcoin on Wazirx. https://youtu.be/YbAvLGXKH2k

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June 22, 2019, 08:41:28 AM
 #8


I never used localbitcoin so I am not able to tell you anything about it. May be others members in this forum who used localbitcoin can reply here with his experience. For Wazirx I can say I never have any issues regarding buy and selling bitcoin and they have a good liquidity in trading. So you dont have to wait for long time for matching your price order because there are so many people keep buying and selling bitcoin. I recommend to watch you this viedeo for how to buy and sell bitcoin on Wazirx. https://youtu.be/YbAvLGXKH2k

After watching the video I got an idea how it works but it looks too complicated compare to localbitcoin.

If you want more reliable and better price I suggest you to go with localbitcoin.

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August 06, 2019, 07:58:36 AM
 #9

I am new in this field of bitcoin and also india is  tight for bitcoin cryptocurrency.  I m from india.  Please suggest me as being a newbie in this forum.  Please let me know how to buy bitcoin in india..  Really I m  confused..
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August 06, 2019, 08:26:54 AM
 #10

As soon as I've got a few business contacts in India, sometimes it was needed for my Indian colleagues to buy crypto. If I'm not mistaking they used perfectmoney payment system and exchange services listed as authorized partners.
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August 06, 2019, 01:17:37 PM
 #11

I am new in this field of bitcoin and also india is  tight for bitcoin cryptocurrency.  I m from india.  Please suggest me as being a newbie in this forum.  Please let me know how to buy bitcoin in india..  Really I m  confused..
You can only use p2p sites like localbitcoin to buy bitcoin with cash in India since RBI banned crypto related transactions so bank deposits on websites were abandoned.

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August 10, 2019, 04:14:10 AM
 #12

If the draft gets implemented then law will become very tight, for now it's okayish. You can use p2p sites to buy crypto, like instashift, wazirx or as previously mentioned localBitcoin.

There should be no worries in buying as most scams happen to sellers [More info: https://youtu.be/sbvJ-m_4quM]

Remember to not put any cryptocurrency related remark in transfers.

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August 10, 2019, 06:02:57 AM
 #13


Remember to not put any cryptocurrency related remark in transfers.
On localbitcoin as well most advertisers have this rule,if we mention anything related to cryptos then they won't release bitcoin so we are in complete loss.So anyone buying bitcoin using bank transfer please becareful while writing remarks or just leave it empty.

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August 10, 2019, 11:00:13 AM
 #14

Whatever you have heard is just the FUD which has been spread over globally. I don't understand why people believe such news without confirmation from the government.
Always acknowledge the source from where you are getting the particular piece of information. Analyze the source because most of the times if it isn't from a trusted source then it's probably fake.

As for buying crypto in India you can use peer to peer platforms. WazirX is a trusted peer to peer platform but requires KYC.
You can use Localbitcoins where KYC is not required but is filled with scammers. So you have to dig up and find a trusted trader with high reputation to not risk your money.
Also there is an alternative to WazirX and that is Koinex.



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August 10, 2019, 11:22:15 AM
 #15

Whatever you have heard is just the FUD which has been spread over globally. I don't understand why people believe such news without confirmation from the government.
Always acknowledge the source from where you are getting the particular piece of information. Analyze the source because most of the times if it isn't from a trusted source then it's probably fake.

As for buying crypto in India you can use peer to peer platforms. WazirX is a trusted peer to peer platform but requires KYC.
You can use Localbitcoins where KYC is not required but is filled with scammers. So you have to dig up and find a trusted trader with high reputation to not risk your money.
Also there is an alternative to WazirX and that is Koinex.

Koinex closed it's shop.

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August 10, 2019, 05:21:21 PM
 #16

Whatever you have heard is just the FUD which has been spread over globally. I don't understand why people believe such news without confirmation from the government.
Always acknowledge the source from where you are getting the particular piece of information. Analyze the source because most of the times if it isn't from a trusted source then it's probably fake.

As for buying crypto in India you can use peer to peer platforms. WazirX is a trusted peer to peer platform but requires KYC.
You can use Localbitcoins where KYC is not required but is filled with scammers. So you have to dig up and find a trusted trader with high reputation to not risk your money.
Also there is an alternative to WazirX and that is Koinex.

Koinex closed it's shop.

Localbitcoin still working which means government didn't stop them,maybe they just did due to not enough profits.

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August 11, 2019, 10:24:35 AM
 #17

Whatever you have heard is just the FUD which has been spread over globally. I don't understand why people believe such news without confirmation from the government.
Always acknowledge the source from where you are getting the particular piece of information. Analyze the source because most of the times if it isn't from a trusted source then it's probably fake.

As for buying crypto in India you can use peer to peer platforms. WazirX is a trusted peer to peer platform but requires KYC.
You can use Localbitcoins where KYC is not required but is filled with scammers. So you have to dig up and find a trusted trader with high reputation to not risk your money.
Also there is an alternative to WazirX and that is Koinex.

Koinex closed it's shop.

Localbitcoin still working which means government didn't stop them,maybe they just did due to not enough profits.

Many are working, government is not forcing to close any exchange either.

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August 13, 2019, 04:38:21 AM
 #18

The RBI has sent a mandate to all Indian banks not to provide banking services for crypto related businesses.  

Localbitcoins or Paxful don't need an Indian bank in the middle as they are platforms for P2P trades.

There are also people in all major cities who offer crypto for cash.

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August 13, 2019, 07:04:25 PM
 #19

The RBI has sent a mandate to all Indian banks not to provide banking services for crypto related businesses.  

Localbitcoins or Paxful don't need an Indian bank in the middle as they are platforms for P2P trades.

There are also people in all major cities who offer crypto for cash.
Did you know that localbitcoin stopped personal trading,so only way is bank transfer or things like paytm but still we need banks to cashout from paytm accounts.

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August 14, 2019, 08:37:34 AM
 #20

You can't buy Bitcoin in India for now as it was possible earlier till the January 2018. But, you can use the third party to buy Bitcoin in India. As, you know already that the most trustable exchange Zebpay facilitate the buying and selling of the Bitcoin in India but now it has stopped it's service for India after the banning of Banking service by RBI last year. Also, all other exchanges was affected by this step by RBI. But, now only one is working efficiently that is UNOCOIN. You can buy Bitcoin from here with the help of third party website AirTm.

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