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Tuesday, June 15, 2021

Is Bitcoin legal in India?

YES, On April 6th 2018 RBI imposed a Banking ban to Indian banks to have relationships with crypto companies but the same banking ban was lifted in 2018 by Supreme Court decision from which Indian Banks were allowed to have business relationships and exchanges.

So, trade on cryptocurrency is absolutely legal.

But cryptocurrency is an illegal tender of money!

Means Suppose if you went to buy an AC then in return you pay respective amount of bitcoin, which is not allowed. It is not a legal tender you need to pay respective INR for that AC i.e., Indian Rupee for AC.

Should one Invest in Bitcoin?

First you have to understand how volatile Bitcoin has been up-till now.

In Dec 2017 Bitcoin price was $19000/BTC, then it went so down that in March 2020 bitcoin price was $4000/BTC.

Again, the prices went so high that currently in May 2021 bitcoin price is $48970/BTC.

If we count Indian Rupee then currently 1 bitcoin = Rs.35,88,492.

So, by now you might have understood that bitcoin is a very volatile cryptocurrency.

Again, a big Question arises if 1 bitcoin needs Rs 35lakh then how can a person easily invest such a huge amount?

Yes, you cannot buy 1 bitcoin but you can buy it in fractions i.e., you can buy 0.1 bitcoin. So, buying bitcoin in fractions is allowed. Anyone with there ease amount can buy bitcoin. Also, bitcoin covers more than 65% of market capitalization over the world than any other cryptocurrency.

So, I suggest one can invest in Bitcoin even if it is a small amount of money depending upon every individual how much risk they can hire by investing in cryptocurrency.

List of some crypto/Bitcoin exchange platform in India:

1. WazirX

Buy Bitcoin and 100+ cryptocurrencies with UPI instantly

WazirX is India's fastest growing cryptocurrency exchange with over 900,000 users. WazirX is the most trusted and secure cryptocurrency exchange app to buy and sell Bitcoin, Ripple, Ethereum, Tron, Zilliqa, and over 100 cryptocurrencies. Buy Bitcoin and other cryptocurrencies by depositing INR via UPI or IMPS instantly.

The WazirX cryptocurrency exchange app for Android is simple and easy to use and comes with an intuitive interface with real-time open order books, stop limit, TradingView charts, and trade history so you can trade and invest in some of the world's best performing digital assets. It's 100% secure!

WazirX Crypto Exchange Android App features -
- Buy Bitcoin and other cryptocurrencies by depositing INR via UPI or IMPS instantly.
- Deposit/Withdraw INR funds instantly and 24x7
- Trade 100+ tokens in highly liquid INR, WRX, USDT, and BTC markets
- Used and trusted by both first-time investors and professional traders
- WazirX has the highest liquidity in the INR market in India
- Lowest withdrawal fee in India starting from zero
- Highest referral commission in India at 50% with no limit
- Smart Token Fund to help crypto investors find expert traders, and let them manage their cryptocurrency portfolio
- Best-in-class app security
- Advanced features like TradingView, advanced chart trading, and Stop Limit orders
- World’s first auto-matching P2P engine with high liquidity
- Login via Binance option
- Move funds between WazirX and Binance wallet instantly for free

The WazirX exchange and wallet for Android offers the following benefits:

Deposit and withdraw INR 24x7
You can deposit and withdraw INR instantly on WazirX via UPI, IMPS, NEFT, or RTGS automatically. It is available 24x7!

Trade like a boss
You can buy, sell, trade over 100 tokens on WazirX. Best Crypto prices in our INR, USDT, WRX, and BTC markets and there's high liquidity in the market. WazirX also has the highest liquidity in the INR (fiat) market in India. We offer features like TradingView, stop limit, auto-fill price (tap on the order book), or price ticker to enhance your trading experience.

Superfast KYC
We have a robust KYC verification system that helps process your KYC within a few hours of signing up.

Best-in-class security
Our platform is loaded with advanced security features like 2FA and in-app passcode. We use industry best practices to make WazirX the most secure cryptocurrency exchange and wallet. We invest in regular security audits to ensure a highly secured trading platform.

WazirX <> Binance deep integration
Our deep integration allows you to sign into WazirX via Binance. You can also move your crypto funds between your WazirX and Binance wallets instantly for zero fee!

Lightning Speed Transactions
WazirX can handle millions of transactions. Our system infrastructure can scale up in a few seconds to match the surging demand.

Trade on the go
WazirX offers a seamless and powerful trading experience across all platforms - Web, Android & iOS mobile, Windows, and Mac apps.

India’s highest referral commission
WazirX offers the highest referral commission with the highest payout. Invite your friends to sign up and earn 50% of commission on their trading fee. There’s no limit unlike other cryptocurrency exchanges in India

About WazirX

WazirX exchange has been built by a team of hardcore traders and passionate blockchain believers. We're on a mission to involve everyone in the Blockchain revolution. ‘Wazir’ is the queen piece in chess. It's the strongest piece and can play any move. With WazirX, we want to provide you with the most powerful piece of cryptocurrency trading software that will help you safely buy and sell Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Tron (TRX), Zilliqa (ZIL), and 100+ cryptocurrencies anywhere, anytime!

Please reach out to us at [email protected] for any queries.

COLLAPSE

2. CoinDCX

With over 1Lac+ monthly active users, and an array of crypto trading options at the palm of your hands CoinDCX is your go-to Bitcoin and cryptocurrency exchange app! Make use of real-time order books & enjoy hassle-free crypto to crypto (c2c) trading with Margin, Lend, Insta, Spot, Futures and get started with investing in an array of tokens such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (xlm), Tron (TRX), Cardano (ADA), Tether (USDT), Binance coin (BNB), Dai (DAI), NEM (XEM) & etc. The advanced app provides access to every feature available on our web platform!

CoinDCX Cryptocurrency Exchange app features
-The intuitive crypto dashboard helps track your crypto portfolio
-Access to industry-best crypto trading products using a single secure crypto wallet
-Seamless crypto to INR trading experience with the highest liquidity and lowest trading fees
-Impenetrable security on user accounts and complete safety of funds insured by BitGo
-Zero deposit and withdrawal fees on your crypto funds
Various exclusive benefits with DCX Club like trading fee discounts based on your trading volume

CoinDCX Crypto Exchange App Products: Advanced
Spot: Limitless crypto to crypto trading with high liquidity on Bitcoin, altcoins and INR pairs order books.
Margin: Trade across 250+ cryptocurrency markets with up to 10X leverage
Future: Maximise your Bitcoin and altcoin trading potential with leverage up to 20x.
Lend: Earn up to 20% annual interest through lending your crypto.
Stake: Earn passive income with Ethereum staking, EOS staking, NEO staking, QTUM staking, TRX staking and more Proof of Stake altcoins!
Insta  —  Fastest Crypto to INR On Ramp Off Ramp with zero trading fee. Buy 80+ cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), & Cardano (ADA) with INR in less than a minute.

Why CoinDCX Cryptocurrency Exchange App?
-Designed for experienced crypto-traders
-Curated for efficient Bitcoin and altcoins trading
-Fastest Sign-up and KYC
-Instant order executions with limitless liquidity
-World-class security
-Near-instant deposit and withdrawal

Start Trading with CoinDCX Crypto Trading Platform:
-Download and sign up on CoinDCX crypto exchange app
-Complete your KYC within 10 minutes
-Deposit your Bitcoin or INR funds for free in your wallet
-Start trading more than 300 cryptocurrencies and crypto-INR trading pairs such as BTC/INR, BTC/ETH, & etc.

Here’s an overview of what you get!
Crypto Trading - Anytime! Anywhere!
Take your Crypto portfolio everywhere and track the price action in real-time.

Powerful Crypto Wallets for advanced traders
CoinDCX has a single, integrated wallet that can be used across all its trading products, giving you a hassle-free experience through centralised management of your cryptos.

Friendly for All Crypto market traders
CoinDCX Crypto Exchange has a unique yet extremely trader friendly interface that can be mastered easily by new traders. CoinDCX provides a variety of features and various types of order placements helping you make the most out of the price movements.

Seamless Bitcoin and Crypto - INR Trading
You can buy, sell, and trade cryptos for INR with ease. You can securely deposit INR and start buying cryptocurrencies for zero fees. Top crypto pairs on CoinDCX are BTC/USDT, ETH/USDT, ADA/USDT and more!

Unbreakable Security
Highly secure cryptocurrency exchange including security measures such as cold wallet storage, withdrawal confirmations, and 2-Factor authentication, complete fund safety is ensured by BitGo making CoinDCX the safest crypto exchange.

Lowest Possible Fees in the Industry
CoinDCX crypto exchange doesn’t charge any fee on deposits and withdrawals of cryptocurrencies. Our trading fees are the lowest in the industry with a trader-friendly fee-tier program. More you trade, lesser the trading fee.

Visit https://support.coindcx.com for queries

3. Unocoin

Unocoin
Unocoin
Price: Free
  • Unocoin Screenshot
  • Unocoin Screenshot
  • Unocoin Screenshot
  • Unocoin Screenshot
  • Unocoin Screenshot

Unocoin

About Unocoin
Unocoin is India’s leading Crypto asset and Blockchain Company with over a million customers.
We make it easy to buy, sell, store, use & accept crypto assets (BTC, ETH, XRP, LTC, BCH, BTG...) securely in India. We have a few achievements under our belt:

Raised 5 million + USD in funding from top investors like Blume Ventures, ah! Ventures, Mumbai Angels, Boost VC, Digital Currency Group, FundersClub, Future perfect Ventures, Huiyin Blockchain Ventures, Draper Associates.
Featured among the Top 20 out of 350 companies in the The Fintech 20: India list.
Unocoin is a member of NASSCOM.
Picked amongst the Top 20 technology startups for Tech30 2017 by YourStory India.

Unocoin has one mission – Bringing Bitcoin to Billions.

Merger of Unocoin and Unodax:
Unocoin is the next generation of Unodax, a platform specifically designed for individual crypto traders. If you’re an existing Unodax customer, you will be able to go to unocoin.com/exchange today and will notice a number of new features, including:

All transactions and balances from Unodax will automatically appear in Unocoin Exchange
A completely redesigned platform that will make the trading experience easier and more intuitive
‘My Wallets’ for a new consolidated portfolio which shows an overview of your account order and balances
Simplified deposit and withdrawal processes
Instead of only Bitcoin and USDT, wallet page now brings 30 different coins

On both Unodax and Unocoin, you will have direct access to Unocoin, the single liquidity pool shared by all Unocoin products. On logging into the Unocoin, you will be able to see your existing Unodax balance and trade history and enjoy the same trading fees, APIs and security features that today’s platform provides.

Highlights:
Buy/Sell Bitcoin/Ether/USDT instantly
Low transaction fees
Consolidated wallet for crypto-holdings
Supports multiple crypto assets
Transact (Send/Request) in crypto assets
Accept/Request crypto assets
Earn free Bitcoin by referring Unocoin to your friends
Deposit/Withdraw INR
Mobile/DTH Recharge with Bitcoin
New features include: Lending, Earn Interest, Crypto Basket, SBP, Altcoin Conversion, Autosell, NETKI, Paper wallet.
Live Price Tracker Widget
Latest updates/news from Unocoin

Crypto Basket:
Go a step further in placing an order with new weighted basket orders. Presenting the Crypto Basket on Unocoin app - To read more about the Crypto Basket, click here.

Bitcoin/Ether SBP subscription
Hedge against the market volatility using Unocoin SBP (Systematic Buy Plan) module to automate bitcoin buying with a fixed amount and frequency.

Lending
Verified users can avail loans in USDT and INR in a straightforward procedure through a secured dashboard. Place a loan order against a collateral amount and manage your investments, fund expenses and plan tax routines.

Earn Interest
Opt for a fixed deposit of USDT (stable coin) and receive monthly payments as interest until the amount matures.

Unocoin blog for latest updates
Keep abreast of latest trends in crypto, Bitcoin & Blockchain developments and merchant partnerships for Bitcoin payments at https://blog.unocoin.com and get involved in hot discussions in the Crypto asset space. For important alerts, keep an eye on https://news.unocoin.com

Youtube channel for help
Head on to our YouTube Channel (https://m.youtube.com/channel/UCxTztdOn_HjYhMGiT8su6Bg) for engaging step-by-step tutorials on availing services from https://unocoin.com along with new developments in the Bitcoin space.

Support details of Unocoin
For further support please go to https://www.unodax.com/contactus
Mail: [email protected]
Facebook: https://www.facebook.com/Unocoin
Twitter: https://twitter.com/Unocoin

Support Service
Telegram: http://t.me/Unocoin_Group
Toll-free number: +91 7788978910 (9:30 – 6:30, Mon-Sat).

Conditions Apply
For detailed terms & conditions, please refer: https://www.unocoin.com/post/98

4. Bitbns

Download the official cryptocurrency trading app of Bitbns. The largest cryptocurrency exchange in India, Bitbns allows users to trade cryptocurrencies at best competitive prices. Ever since its inception in late 2017, Bitbns has been consistent at providing the best cryptocurrency trading experience across the globe.

For an optimum trading experience, Bitbns brings you a slew of trading tools & features like:

Realtime Trading - Buy/sell cryptocurrencies instantly with real time trading on Bitbns.

Bracket Order - Reduce risk to bare minimum with a 3-in-1 Bracket Order. Bracket order trading is your ticket to safer and quick profit in a volatile market.

Margin Trading- Borrow funds to make more profit or lend your funds to earn more by starting a margin trading account on Bitbns.

Stop-limit Orders - Enter or exit the market only when you are sure about the price momentum by opting for stop limit trading in cryptocurrency only on Bitbns.

Cryptocurrency Wallet - Park your cryptocurrency funds in our ultra-secure, Google 2FA-protected top cryptocurrency wallet.

P2P INR Mechanism - Enjoy instant and convenient Peer-to-Peer (P2P) INR transactions on Bitbns.

USDT Market - Trade cryptocurrencies with a USDT pair in order to reduce volatility risks and explore a whole new market that runs on Tether (USDT).

Bitbns SELECT - Need to transact more than 1 lakh INR? Bitbns SELECT has been handcrafted for you.

Earn by Depositing - Grab the advantage of P2P deposit incentives that you can earn by simply depositing money in your INR wallet.

Crypto Wallet - Store your funds in an ultra-secure, 2FA-enabled cryptocurrency wallet with the freedom to withdraw, transfer, deposit or trade in an instant.

Instant Support - Reaching out to us is as easy as counting fingers. Just raise a ticket regarding an issue and see it resolved within minutes.

About Blockchain and Cryptocurrencies:

The rediscovery of the digital age and already a revolution, blockchain technology marks the commencement of a new era, made for mankind, made by mankind. Introduced to the world in the form of Bitcoin in 2009, blockchain technology uses digital ledger to produce and store immutable records of anything that happens over blockchain.

About Bitbns

Bitbns is a part of Buyhatke Internet Pvt. Ltd. - the parent organisation, which was incorporated in 2015. With 70+ cryptocurrencies listed at present, Bitbns allows users to buy and sell cryptocurrencies at best available prices and offers ease of trading like no other cryptocurrency exchange. Some of the top cryptocurrencies one can trade on Bitbns are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Binance Coin (BNB), Neo (NEO) and more.

One of the notable recent updates to Bitbns has been the introduction of the USDT market, where users can trade cryptocurrencies against USDT.

Margin Leverage
Only Bitbns brings you the ability to trade 4 times your net worth with 4X Margin Leverage. To trade with 4X leverage, a user can borrow 3 times their net worth and trade with a total of 4X leverage on Bitbns. The minimum net worth a user needs to have on Bitbns is Rs. 2,000. Bitbns recommends its users to couple margin trading with bracket order to avoid volatility risks.

Margin Lending
Lend your funds with Margin Lending, which is a feature you can find in the margin trading section. Margin Lending is undoubtedly one of the most failsafe methods to earn profit by lending cryptocurrency funds at fixed interest rate for a fixed period of time.

Here are some of the top cryptocurrencies listed on Bitbns:
✓ Bitcoin (BTC)
✓ Ethereum (ETH)
✓ Ripple (XRP)
✓ Stellar (XLM)
✓ NEO (NEO)
✓ GAS
✓ Monero (XMR)
✓ Red pulse China (RPX)

And many other top digital assets available for trading in INR, AED, and USDT

Choose Bitbns for the best cryptocurrency trading experience in the world.

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