Topic: Best indian Peer to Peer or Fiat Exchange (Read 573 times)

Localbitcoins is a p2p exchange. So there's no way they will send you fiat money to your bank account. They only hold your cryptos and not fiat money. What you are saying, is possible with exchanges like WazirX, Unocoin or Coinswitch Kuber, not with localbitcoins.

Also as the current legislative discussion around bitcoin is not really favorable, I would suggest to stay away from such exchanges that uses bank account transfers.

Paxful is also good but you are not sure about the funds other person is using to buy or sell.
So I prefer centralised exchanges like zebpay, wazirX et

for the past two years i am dealing in localbitcoins.com  which i consider it as secured peer to peer exchange in terms of fast transactions and escrow based and support is active all the time

Disagreed. You have to pay 10-20% tip to withdraw your money from there.

People get lured by price differences and try to arbitrage there unaware of withdrawal problems.

I would recommend localbitcoins. If you want a more sophisticated trading experience, you can use bitbns because I like their UI and the support team is cool and rates there are better!

Already suggested by many,so if you have any other option let us know.

if you want sell or buy ? try local bitcoin bro

L O C A L E T H E R E U M as well.. lol I can't stress the number of the times I've suggested people to use this gem of a site but no one seems to pay attention. Sometimes Bitcoin and all its melodrama with high fees can be a chore to deal with. Ethereum is precisely the right thing to use in those times. ESPECIALLY if you are looking to cash out small amounts, which does tend to get uneconomical with Bitcoins cuz of fees and premium.

If OP is still looking for a place to buy or sell bitcoin for INR then localbitcoin is the only place as far as I know because most of the exchange doesn't support fiat withdrawal from india due to restrictions from RBI so get bitcoin through traders on LBC or us forum to find a trader with trusted escrow.

Please understand RBI and Govt are two different entity. Currently, RBI has banned its licensed banks to deal with entities that deal in crypto. RBI notice was to the bank & not to the citizen. So crypto is not illegal under the law even though everyone perceives it because of the ban by banks. Also, this is the case in many counties where Banks don't allow or are not comfortable dealing with entities that deal in crypto. I mean why not? the war is against Cryptocurrency vs Fiat.

So try to spread the right information, setting up the company outside does not mean you can do criminal activities in India, it just makes it easy to have foreign money via VC. Most of the Indian startups including Flipkart are registered outside for the same reason.

Cryptocurrencies are currently treated as digital assets, it is like buying and selling a piece of software and in the crypto world, we consider as an equivalent of currency.

Wazirx is the best, but if you are asking apart from it, you must give a try to Bitbns, very good volume over there.

So how do you think Wazirx is running their business, rules and regulations have interpretations and people will find a way that will not directly break the law, if the regulations says that dealing with virtual currencies is illegal and there will be consequences if you overcome that restrictions, then there is a major problem and you might even go to jail for dealing with virtual currencies. Unocoin, Koinex and Zebpay have registered their business with the Indian government and no one will dare to overcome those restrictions even with the interpretations as they might end up in trouble, look at Zebpay now they started their business again as they registered outside and that is the case with Wazirx, you cannot find any detailed information about them, i know they are running from India and they are not having any licence to run the platform in India, if these sort of restrictions are implemented we will see more exchanges popping up in the dark.
  
So the main thing the government has to understand is that, whether they need to have a grip on the situation by allowing registered companies running the platform and the government can monitor the activities or drive everyone underground as you really cannot restrict anyone dealing with virtual currencies.

@legendster, hopefully you understood the difference between illegal to use and restrictions to banks dealing with companies dealing with virtual currencies.

You still dint understand the purpose of asking question . I am asking because I don’t know , may be I am confused, or may be I required expert opinion . I am glad that I met some knowledgeable person like you in thread . No need to get tensed if somebody asking question . I think best mixer is giving better payment for you by wearing signature. All the best

I usually don’t give merits to anyone . You deserve it these exchanges i  never heard of . In this kind of situation we as a community should be unit . We are in the face were we can’t sell our investment . Gathering information from anyone it’s not bad thing. There will be a people like legester everywhere. Still I don’t understand what I am fudding about . May be this person doesn’t know the meaning about fud . I am jus trying to get information for my self as well as community.

Then you are misinformed. According to RBI rules no business is allowed to commercially exchange cryptos for Indian fiat. Ask the Unocoin guy. Or the Koinex team or even Zebpay.
How can you run a business with something that is not recognized as a form of payment? You can't pay taxes, the Tax dept would be out to get you and you'd be fucked.

Do you know how traders blackmail on Bisq? Once I tried trading and some dude wanted me to pay first without him showing any signs of the btc that he was supposed to sell. Long story short it ended with him calling me up (thank you for exposing my number Bisq) and says he'll file an FIR against my name saying I am engaging in ML just because I did not want to pay him first. I handled him, taught him a proper lesson. But everyone's not like me, especially us Indians are prone to getting duped.

Long story short, Bisq will not get to the levels of LBC in India.


With a small community of buyers and sellers, you need all the sellers in as few many platforms as possible to maintain competitive rates - we're already paying 9 - 15% premium to buy / sell crypto, that would soon multiply otherwise. That's why we should stay away from fringe websites that add no value to the community and subjects traders to scam attempts.

So I'll repeat, there are no viable alternative to LBC or LETH with exception to Wazirx.

I primarily use two P2P Platforms to convert Bitcoin in INR. One is WazirX and the other is Remitano. Since you looking for the one which doesn't require KYC, you can try Remitano. The site is not Indian but have Indian section just like LocalBitcoins, however country of exchange doesn't matter in P2P trade. Remitano doesn't require KYC to do trade. It is only required when you open dispute, else it's optional. Also the volume on Remitano is quite gross at fair prices and your orders will easily get filled.
I am using it for quite a long now, here's my profile, you can check the volume of coins I exchanged on Remitano: https://remitano.com/btc/in/profile/webtricks

PS: I am in no way connected to Remitano, it's just an honest user review.

I understand your concern buddy, the campaigns that allow anyone to join without moderation on the post quality should end, i have seen some users piling up 200 post a week wearing stake, i am not sure whether they are getting paid for those post busting as the spreadsheet is not available here.


Yes "Gods own country" , i will tell you this, it is not illegal to run crypto based business here but the banks are restricted from dealing with crypto businesses through a circular from the RBI and hence we now have P2P based exchanges and Wazirx is one such exchange that popped up after the RBI regulation and the others are optional exchanges you can look into as they too work on P2P model and i have traded in those in the past and now i am more comfortable with Wazirx but their customer support sucks but the rest of the exchanges i mentioned have good customer support but less liquidity as compared to Wazirx.


I have traded in Bisq in the past and i have mentioned that the amount of users that deal with INR are limited, i am not sure about the current situation as i have other options to trade, i just want people who have restricted knowledge about other options to know about those platforms and since this is the biggest forum when it comes to bitcoin, why not tell them here so that we will have more users using those platforms and we will have enough liquidity, it is a win win situation.

Does Paxful not make it to the top of the list anymore ? I haven't used it for a few months now, but they are known to be a good alternative to Localbitcoins without requiring KYC. However, LBTC is still the most recommended exchange. A Fiat exchange probably doesn't exist for Indians anymore due to the government clampdown on banking transactions involving bitcoin.

I'm not bashing him for wearing a sig. I am bashing him for wearing a sig and saying things that he does not understand. Also, Stake promotes shitposts - go read my comment at the beginning of their campaign.

Also, the p2p sites, how many of those sites that you have listed there, have you actually traded on? Maybe with an exception of Wazirx.

Even then, there's just 3 p2p exchanges, lbc, leth and wazirx, rest are dead, or have prices so high that it doesn't make sense to trade there. Take Remitano listings for example.

And why is that? Because it is - as of yet - illegal to operate a crypto-based business in this country. Your user handle sounds Indian, I think you already know what I am talking about.


There is INR option but the amount of Indians there? ZERO. Just go and check it out yourself.

And this is the problem with people speaking about things that they don't know about and it pisses me off.

Does bisq offer crypto/INR trading? If I am correct, bisq is an international exchange. Sorry if I am wrong. Since OP is looking for Indian fiat option, INR, bisq wouldn't be the one he is looking for.