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Topic: BitCoin in India (Read 2658 times)

hero member
Activity: 910
Merit: 505
March 02, 2017, 01:20:23 AM
#33
Do people In India use bitcoin? Is It Legal There ??

Something is legal until it is labelled as illegal. No authority in India has labelled BTC as illegal, so YES it is legal as of now.

The usage is not that great if you're talking about spending BTC in day-to-day use. But yes, people have been trading and HODLING bitcoins a lot for monetary gains.
Everyone spends time to make some monetary gains and other than that what is the real purpose in it.The government of India really prompted the people to start using bitcoin by implementing useless rules and regulation regarding the fiat and in turn people started investing in bitcoin.
When did they start encouraging people to use bitcoin?there is no way they will do it .yup our government has introduced cashless payment and is promoting it but not cryptocurrency.it will take a long time that majority of  people will know about bitcoin/altcoins.
full member
Activity: 225
Merit: 100
February 28, 2017, 08:48:46 AM
#32
Do people In India use bitcoin? Is It Legal There ??

Something is legal until it is labelled as illegal. No authority in India has labelled BTC as illegal, so YES it is legal as of now.

The usage is not that great if you're talking about spending BTC in day-to-day use. But yes, people have been trading and HODLING bitcoins a lot for monetary gains.
Everyone spends time to make some monetary gains and other than that what is the real purpose in it.The government of India really prompted the people to start using bitcoin by implementing useless rules and regulation regarding the fiat and in turn people started investing in bitcoin.
sr. member
Activity: 770
Merit: 268
February 23, 2017, 08:22:25 AM
#31
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
India is very big country but still bitcoin is not spreading as its need to be because right now just few exchange sites accepting this no shops or other vendors going this if its works like Philippine or Indonesia then its could be very helpful for this community

I agree with you. But I think as the awareness of the concept grows amongst common people,  more fin institutes would invest in exchange platforms.
Campaigns regarding the concept, especially targetting collages, will surely enhance the spread of digital currencies.

There have been campaigns to educate college students before.  Smiley
http://www.indiabitcoin.com/unocoin-educates-college-students-in-bangalore/

I am sure there must have been. But this has to be a continuous process, as youngsters' memory span is very short. New and exciting things keeps them wandering. Even a forum like this is perfect platform for creating awareness. I was vaguely aware of the concept of bitcoin from almost an year but I learnt most about crytocurrencies on this forum in last 2 weeks.

Spreading awareness about bitcoin in the youth of any country is very difficult. As of now 99.99% people using bitcoin consider it as commodity instead of currency. Everyone wants to purchase and hold the bitcoins for long term huge profit. Just like real-estate, gold. Given this situation why youngsters will develop their interest in a commodity which they can not use as currency? How many times have we seen youngsters taking interest in RE, stock etc? very less.  Next point is bitcoin price is not something they can afford.  These two biggest point nullifies attempt of developing awareness about bitcoin in youth.
member
Activity: 101
Merit: 10
February 22, 2017, 01:03:37 PM
#30
Do people In India use bitcoin? Is It Legal There ??
Yes , ofcourse  it is legal in India because I am.using bitcoin from 2 years in India , and I am proper Indian .
I have Many friends at WhatsApp group who are bitcoiner . Some of them are making lakhs per month and paying tax to the government ( which is honesty quality ) .
But in this year some restrictions comes to use bitcoin after demomentization of money which control the flow of bitcoin .
I explained about it here >>
https://bitcointalk.org/index.php?topic=1739347.new#new

Considering there are many companies out there which provide bitcoin to INR exchange service after taking KYC from customer as per RBI norms, one can consider that bitcoin is not banned by Indian government.
member
Activity: 90
Merit: 10
February 21, 2017, 07:19:57 AM
#29
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
India is very big country but still bitcoin is not spreading as its need to be because right now just few exchange sites accepting this no shops or other vendors going this if its works like Philippine or Indonesia then its could be very helpful for this community

I agree with you. But I think as the awareness of the concept grows amongst common people,  more fin institutes would invest in exchange platforms.
Campaigns regarding the concept, especially targetting collages, will surely enhance the spread of digital currencies.

There have been campaigns to educate college students before.  Smiley
http://www.indiabitcoin.com/unocoin-educates-college-students-in-bangalore/

I am sure there must have been. But this has to be a continuous process, as youngsters' memory span is very short. New and exciting things keeps them wandering. Even a forum like this is perfect platform for creating awareness. I was vaguely aware of the concept of bitcoin from almost an year but I learnt most about crytocurrencies on this forum in last 2 weeks.
hero member
Activity: 574
Merit: 502
waiting to explode
February 21, 2017, 07:02:50 AM
#28
Do people In India use bitcoin? Is It Legal There ??

Something is legal until it is labelled as illegal. No authority in India has labelled BTC as illegal, so YES it is legal as of now.

The usage is not that great if you're talking about spending BTC in day-to-day use. But yes, people have been trading and HODLING bitcoins a lot for monetary gains.
newbie
Activity: 16
Merit: 0
February 21, 2017, 06:55:28 AM
#27
Yes, it is legal in India. Because more Indian are transaction by online. It goes to clean transaction for banking. Bitcoin is decentralised  currency.Good luck Smiley
legendary
Activity: 1358
Merit: 1000
February 17, 2017, 07:24:18 PM
#26
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
India is very big country but still bitcoin is not spreading as its need to be because right now just few exchange sites accepting this no shops or other vendors going this if its works like Philippine or Indonesia then its could be very helpful for this community

I agree with you. But I think as the awareness of the concept grows amongst common people,  more fin institutes would invest in exchange platforms.
Campaigns regarding the concept, especially targetting collages, will surely enhance the spread of digital currencies.

There have been campaigns to educate college students before.  Smiley
http://www.indiabitcoin.com/unocoin-educates-college-students-in-bangalore/
member
Activity: 90
Merit: 10
February 17, 2017, 07:49:14 AM
#25
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
I think Zebpay is a mobile only wallet and what is the buzz around Mumbai area you are talking about because i would like to hear as i will be traveling to Mumbai in a couple of weeks time.
Yes, zebpay is mobile only wallet. I personally interacted with some volunteers spreading awareness about bitcoin and other cryptocurrencies. They were spreading awareness regarding the concept, along with zebpay. Looks like zebpay is on the roll, especially in western India.
member
Activity: 90
Merit: 10
February 17, 2017, 07:43:03 AM
#24
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
India is very big country but still bitcoin is not spreading as its need to be because right now just few exchange sites accepting this no shops or other vendors going this if its works like Philippine or Indonesia then its could be very helpful for this community

I agree with you. But I think as the awareness of the concept grows amongst common people,  more fin institutes would invest in exchange platforms.
Campaigns regarding the concept, especially targetting collages, will surely enhance the spread of digital currencies.
sr. member
Activity: 246
Merit: 250
February 16, 2017, 06:50:29 PM
#23
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
I think Zebpay is a mobile only wallet and what is the buzz around Mumbai area you are talking about because i would like to hear as i will be traveling to Mumbai in a couple of weeks time.
sr. member
Activity: 700
Merit: 251
February 16, 2017, 12:15:52 PM
#22
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
India is very big country but still bitcoin is not spreading as its need to be because right now just few exchange sites accepting this no shops or other vendors going this if its works like Philippine or Indonesia then its could be very helpful for this community
member
Activity: 90
Merit: 10
February 16, 2017, 12:09:36 PM
#21
I think zebpay is spreading faster than unocoin, at least around Mumbai area. And the mobile app really gives them an edge over other exchanges, as most people use only their mobiles to access internet services.
member
Activity: 101
Merit: 10
February 16, 2017, 09:29:55 AM
#20
Do people In India use bitcoin? Is It Legal There ??
Yes , ofcourse  it is legal in India because I am.using bitcoin from 2 years in India , and I am proper Indian .
I have Many friends at WhatsApp group who are bitcoiner . Some of them are making lakhs per month and paying tax to the government ( which is honesty quality ) .
But in this year some restrictions comes to use bitcoin after demomentization of money which control the flow of bitcoin .
I explained about it here >>
https://bitcointalk.org/index.php?topic=1739347.new#new

Oh..but which companies are accepting bitcoins as payments ??
the best company that accept bitcoins is zebapy.u can download the app through the playstore and give the details like pan card and bank details and after 7 working days ,you r account will verified and you can cash out ur bitcoins very quickly.

Is Zebapy really exchanges BTC in india? as i do not see many of my friends using this.  Most of my friends use Coinbase wallet to exchanges their BTC. I have not yet started to use the wallet as i have not joined in any campaign.
sr. member
Activity: 770
Merit: 268
February 13, 2017, 03:12:27 AM
#19
any sites other than Zebpay ??

Coinsecure is good option. Recently they have launched payment gateway [1] as well.
you should check that option. Apart from these there is not much adaption of bitcoin in day to day life. People are purchasing bitcoins for investment purpose or some for trading.

[1] https://bitcointalksearch.org/topic/launching-the-coinsecure-payment-gateway-for-bitcoin-in-india-1529470
sr. member
Activity: 585
Merit: 251
February 02, 2017, 10:28:05 PM
#18
any sites other than Zebpay ??

Yes you can use Coinsecure or Unocoin. But withdrawal at Coinsecure is the best. You will get instant withdrawals many times. While that is not the case with Unocoin. Also do you want to buy/sell the btc?
You can withdraw and deposit at Zebpay also instantly on any working day.Zebpay is available only on mobile devices and that is the only disadvantage of Zebpay.I hope they have a full website also or some similar app for Windows pc so that it can be accessed from both.
In india ,majority of people use phone more than desktop or laptop.i would say mostly all prefer using phone .so thats why zebpay has launched its app rather coming to desktop version.
hero member
Activity: 602
Merit: 500
January 25, 2017, 03:44:42 PM
#17
any sites other than Zebpay ??

Yes you can use Coinsecure or Unocoin. But withdrawal at Coinsecure is the best. You will get instant withdrawals many times. While that is not the case with Unocoin. Also do you want to buy/sell the btc?
You can withdraw and deposit at Zebpay also instantly on any working day.Zebpay is available only on mobile devices and that is the only disadvantage of Zebpay.I hope they have a full website also or some similar app for Windows pc so that it can be accessed from both.
hero member
Activity: 1218
Merit: 557
January 24, 2017, 12:33:35 PM
#16
any sites other than Zebpay ??

You can use localbitcoins for better experience if you are not satisfied with these exchanges, because you will be able to transact your coins for different available rates and you may get prices even higher than Zebpay sometimes. At these exchanges, you will need to wait for your money to be funded and the waiting time is 24 hours (depending on when you withdraw), while at localbitcoins, users send the funds instantly through IMPS, or 3-4 hours if NEFT is being done.

Even in Localbitcoin you dont have to give your personal details for trading but some time the rates are very different (in the sense rates are too much gap in buying and selling comparing to other exchanges) but other exchanges you have to give your personal details after that you can trade

In localbitocin you will have to give personal identification details at the time of registering. After their verification only you will be able to trade on localbitcoin. Yes while buying/selling also you may have to show the verification proof as many have those requirement in their trade conditions.
legendary
Activity: 1302
Merit: 1027
January 24, 2017, 11:28:30 AM
#15
any sites other than Zebpay ??

You can use localbitcoins for better experience if you are not satisfied with these exchanges, because you will be able to transact your coins for different available rates and you may get prices even higher than Zebpay sometimes. At these exchanges, you will need to wait for your money to be funded and the waiting time is 24 hours (depending on when you withdraw), while at localbitcoins, users send the funds instantly through IMPS, or 3-4 hours if NEFT is being done.

Even in Localbitcoin you dont have to give your personal details for trading but some time the rates are very different (in the sense rates are too much gap in buying and selling comparing to other exchanges) but other exchanges you have to give your personal details after that you can trade
newbie
Activity: 16
Merit: 0
January 22, 2017, 12:19:06 PM
#14
Yes I agree with Because Indian people earn in bitcoin & I see indian people interested in bitcoin. 
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