How do i buy bitcoin in india

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A hostile regulatory environment

Last Updated on December 7, at pm. How to buy Bitcoins in India? This is not a recommendation to buy bitcoins and I do not hold any. The reason I am writing this is that the bitcoin and cryptocurrency community is filled with unsavoury pump and dump characters who can easily fool and misguide new investors. First of all, indai post is not a recommendation to buy bitcoins. Hkw do not hold any and do not intend to. I have written this with inputs from a student at IIT, Madras who values her anonymity.

Crypto exchanges are facing the music

Want to do it as fast as possible? You might be able to go from zero to bitcoin in less than an hour. Compare bitcoin exchanges. Before getting started, you need a place to put your bitcoin. You can compare hardware wallets here. All you have to do is pick one that suits your needs, follow the steps provided and transfer some INR, other supported fiat currency or cryptocurrency for bitcoin.

Buy or sell bitcoin in India via peer-to-peer platforms (P2P)

Last Updated on December 7, at pm. How to buy Bitcoins in India? This is not hkw recommendation to buy bitcoins and I do not hold any. The reason I am writing this is that the bitcoin and cryptocurrency community is filled with unsavoury pump and dump characters who can easily fool and misguide new investors. First of all, this post is not a recommendation to buy bitcoins. I do not hold any and do not intend to. I have written this with inputs from a student at IIT, Madras who values her anonymity.

Second of all, I would strongly discourage anyone above the age of 35 to fool around with their hard earned money at this stage in their life. Younger Indians have the youth, and ibdia time to play with Bitcoin. Otherwise, bug world will bulldoze us aside. One does not need to buy to learn, but if you must invest, then do so because you wish to understand the technology and think it can change the way you operate.

Do not buy because of fear, do not buy because of greed. It can blind you. If you wish ddo buy bitcoins do so with money that you can afford to lose l. Put some money and leave hitcoin alone for a few months. If it increases, pull it out and buy yourself something fancy or go on a trek. That way you will not get hurt. Bitcoins are not suitable for serious investing. If want to be a Bitcoin hodler slang for long-term bitcoin investor or hoarder then do so at your own risk.

If Bitcoins are too expensive to buy even in 0. Bitcoin does not fit into the usual definition of a financial asset and therefore cannot be called bu bubble. A Pyramid Scheme? Or a Bubble? The Indian government has warned that it is too risky to be used as an investment but has not banned its usage.

However, it could make buying indua or any other form or cryptocurrency illegal. Once it does, you will have to say goodbye to your investments.

So be prepared for. Bitcoin profits are not capital gains. Needless to say, there is a lot of unsavoury jugaad going on. If you wish to directly buy cryptocurrency in India with INR, then your choices are limited. There are two exchanges which have decent feedback in social media: Zebpay and Koinex. Zebpay is available only as an app. I have not used it, but if they are going to send double authentication sms to login, then it makes no sense to have that sent to the same device.

Double authentication requires two idnia sources and two different devices to be bicoin. So I will discuss the basic steps to buy bitcoins in India via Koinex. So I see no harm in writing about relevant information with all necessary disclaimers.

Only those who wish to read disclaimers will bother to read. My conscience in this matter is clear: better to DIY Bitcoin buying if interested rather than listen to bad advice and lose money in initial coin offerings in an hope to gain big and then shift to Bitcoin. I will again repeat the disclaimer: I do not hold any kind of cryptocurrency.

I do not recommend buying any kind of cryptocurrency. This post is only for those who have already idnia up their minds to buy bitcoins with INR. It is possible that this post may inspire some. Well, that cannot be helped. This is a snapshot of the top ten from a huge list.

Only a how do i buy bitcoin in india and that is more than. You can buy Neo from an exchanged called K, but I do not know about it. Step 1: Understand the risks, read the disclaimer in this post and never ever put big money. Play with it if you must, but do hod mix business and pleasure. Stay away from people who post referral links that promise you a welcome gift petty change in INR.

They will also be paid the same petty change. Step 4: Once your account is approved, you can transfer money from your approved bank account via NEFT or via online transfer for a fee. Step 7: Login again after a month and check inda luck. If must invest again, do so with only money that you afford to lose. You will know the ibdia of that sooner or later.

This is a major downside, but the only alternative is to convert INR to USD, sign up at a foreign exchange and then work. If you want the lowdown on this, search in Quora but DIY.

Do not buy and hold assuming 1 bitcoin will inxia worth millions in the future. Bitcoin investments are subject to time value of money. They can go for years around a price range and not provide any sizeable return.

Have indoa seen how James Bond operates? If he suspects someone, he would go straight to their home or office and threaten them without actually doing so.

That is he would ruffle how do i buy bitcoin in india few feathers. Only those who take risks can make gains. So I salute those who have taken the risk to invest in Bitcoins.

Live long and prosper. None of the above contents or any post in this site should be construed as investment advice. Proceed with extreme caution when it comes to bitcoins and other cryptocurrencies.

I will indix be responsible for your losses and therefore I am not responsible for your gains. And I will respond to them in the next few days. I welcome tough questions. Please do not ask for investment advice. Before asking, please search the site if the issue has already been discussed. Thank you. I am only talking about investing bits and piece.

Guy coins in and out is a pain for small sums. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Hate ads but would like to support the site? Subscribe to our ad-free newsletter and get beautifully formatted full articles delivered to your inbox!

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It comes with nine bitcoi calculators. Get it .

Are you suffering from a fear of missing out?

Source: Coin. Want to buy using Coinmama? Regulatory concerns are not to be taken lightly, and India is no different: for example, the Indian government has said that Bitciin can’t be used as a part of the payments. There are only 21 million bitcoins that have been created. Coinmama Popular. Post demonetisation, leading Bitcoin exchanges in India witnessed a rise in user base by up to per cent. Buy Bitcoin with Cash. How to buy Bitcoins? You can back up the wallet at another location so that you don’t lose data if your hard drive crashes. Bitcoin ATMs can be a quick how do i buy bitcoin in india easy way to buy bitcoins and they’re also private. It serves as a local advertisement board for everyone who wants to buy and sell bitcoin. Buying or selling goods and services for bitcoin in India If you don’t want to or can’t purchase or sell bitcoin using the methods mentioned above, you can obtain or use your bitcoins gow goods and services. Unocoin is India’s leading Bitcoin platform. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. You can use our Bitcoin ATM map to buy bitcoins with cash.