Our site may contain affiliate links and as an Amazon Associate we earn from qualifying purchases. Unocoin is India’s leading Bitcoin platform. Crypto Market Cap. Want to buy using Coinmama? Next on our list of the best cryptocurrency exchanges in India is Koinex.
Summary of the Best Ways to Buy BTC in India
Over the last 12 months, the price of Bitcoin has been a roller coaster and in India, we’ve gone from blank stares when talking about cryptocurrencies to interest and demand that’s hard to keep up. There are a number of different Bitcoin exchanges through which you can buy the coins, but international transactions involve a certain amount of uncertainty and delays with regular money transfers themselves. So if you’re in India and are looking to buy Bitcoin, you may want to use a local exchange. Buying Bitcoin isn’t for the faint of heart. Economists and others have been expressing doubts for long now about the feasibility of Bitcoin as an investment.
Crypto exchanges are facing the music
The rise of interest in buying Bitcoin in India has spiked since it being legal again. However, the process of buying Bitcoin in India is still quite confusing. And here it is! We list the pros and cons of each exchange so that you can make an educated choice of which fits your needs the best. This makes it easy to fill out the information required for the exchange.
A hostile regulatory environment
Over bes last 12 months, the price of Bitcoin has been a roller coaster and in India, we’ve gone from blank stares when talking about cryptocurrencies to interest and demand that’s hard to keep up. There are a number of different Bitcoin exchanges through which you can buy the coins, but international transactions ijdia a certain amount of uncertainty and delays with regular money transfers themselves. So if you’re in India and are looking to buy Bitcoin, you may want to use a local exchange.
Buying Bitcoin isn’t for the faint of heart. Economists and others have been expressing doubts for long now about the feasibility of Bitcoin as an investment. There have also been questions raised about the suitability of Bitcoin for the needs of the financial industry.
In India, the Income Tax department has been cracking down on cryptocurrency traderscovering Bitcooin, Litecoin, Ethereum, Ripple, and. There’s also the fact that the Indian government has said that Bitcoin can’t be used a;p a part of the payments. Speaking to the nation, Finance Minister Arun Jaitley reiterated besst cryptocurrencies are not legal tenders, saying that their use «as part of the payment system» will be eliminated.
However, the minister didn’t explicitly mention anything about trading in cryptocurrencies like Bitcoin. Still, if you’ve done your research and want buy Bitcoins, there are a number of options in India. We started looking at such exchanges one year ago, and many of the exchanges we found at the time to be good options still remain active and have good reports from users.
However, we have seen customer feedback on some of them turn sour, and there have been a few new entrants as well, which have received a positive response from most of their users.
Here are the ones that sound like good picks in Februarybased on what consumers are saying, on public forums ranging from Reddit and Quora, discussions on social media such as Twitter and Facebook, and by listening to recommendations from people who are actively trading in Bitcoin in India. Coinome Recommended by a number of traders, and with generally positive feedback online, this exchange best app to buy bitcoin in india backed by the payments company Billdesk, and launched near the end of November.
It allows for instant eKYC using your Bitconiand it doesn’t buy or sell Bittcoin, serving as a platform to connect users instead. The Billdesk backing lends more authenticity to the company, and it’s also got a reputation online for fast transfers. Another but to like Coinome is that it offers instant withdrawals on all weekdays — very reassuring if you’re worried about values dropping suddenly. Coinsecure Coinsecure has been around for a while now, and generally has positive feedback online.
It offers a wallet along with an exchange, and is generally well designed and easy to use. There are a lot of guides on the site so you can learn more about Bitcoin trading there, and allows for trading of just Rs. It charges 0. Check out Coinsecure on the Web Android. Koinex Online, you’ll see a lot of people swearing by Koinex, and a fair number swearing at gitcoin as. Usually, you’ll hear about people ditching it to indai to Coinome, and people ditching Coinome for it, so it’s safe to say that the online bitcoih is a little mixed.
However, some traders that we have spoken to have been using it and say it remains a good, and easy to use option, with enough liquidity for day-trading, but its fees are a little high.
People who have been using Bitcoin for ibdia say that the ease of use and the availability of coins bwst it a good option for people buying Bitcoin in India.
It allows OTPs for security, and offers yearly statements of trades on request, which could be used for tax purposes. Remitano Another reliable player that has come up in India is Remitano, a peer to peer Bitcoin exchange that promises instant transfers and withdrawals as well, and offers an escrow facility.
The idea behind this is to besr the transfer of funds between people safer, as the Bitcoins are locked until the seller confirms payment. It also offers a wallet if you need one, although most people recommend saving your Bitcoin offline.
In a way, Remitano being on the list also highlights how changeable all these companies’ ineia are. Around September, you’d find a lot of appp complaining about Remitano online, but in the last two months, we’ve seen a lot more positive comments, including an active Bitcoin trader whose opinions we trust.
These four choices are looking like the best options at this point, but two of the exchanges we looked at last year, Unocoin and Zebpay are also worth considering. Both exchanges offer mobile apps so you can easily check and manage them at any time, but we’ve seen a large number of online complaints about speed, fees, and issues with delays in KYC. In general, both seem to be reliable, and have Indian customer care numbers so you can reach them more easily, but they don’t seem to be the most favoured options amongst Bitcoin traders anymore.
Another option, which we mentioned earlier, is BuyUCoin. The site was indoa we had looked at last year, but in the last few months there have been a lot of complaints from users online.
One of the founders has blogged about this and explained why a backlog came up, causing some issues, which is why we haven’t included it in our main list either, but it sounds like they’re aiming to get back on track, so it could be worth checking to see what rates it is offering. Finally, given the prices at which Bitcoin is being traded, we wouldn’t recommend this for the most part, but if bitvoin looking ibdia a iindia option, try LocalBitcoins. Some people have shared stories of being scammed, so it’s definitely not the best idea, but you can trade privately with no paper trail, which might be a selling point for some people.
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Best way to buy and sell Bitcoin in India — இதுதான் சிறந்த முறை!!
A hostile regulatory environment
Please visit LocalBitcoins for its exact pricing terms. The only con about this exchange is the price of it. Your terms. We cannot simply say which one is the best for everyone since people got their own preferences and factors they value the highest. Buy Bitcoin Worldwide receives compensation with respect to its referrals for out-bound crypto exchanges and crypto wallet websites. And here it is! Zanmai Bitdoin Private Limited. LocalBitcoins is a peer-to-peer exchange that is available worldwide. Bitcoin can often be over-sold on Best app to buy bitcoin in india or priced way over indi price. The latest series of events paint a bleak picture of Bitcoin in the Indian scenario. Exchanges happen almost instantly because Changelly never actually controls your tokens but just exchanges. This technique allows you to commit to a fixed INR amount on Bezt on a regular schedule regardless of the price. Coinmama allows customers in almost every country to buy bitcoin with indoa credit or debit card. Changelly lets you buy bitcoin with Litecoin, Dogecoin, altcoins and many other digital tokens. New : Make Lightning payments to your favourite stores across the globe! Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing.
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