Bitcoin in India | Bitcointalksearch.org

yvesp110

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Quote from: abhishek_bittu on February 06, 2018, 10:31:12 AM

In India, Unocoin is one of the most popular website to buy & sell Bitcoins. It’s newbie friendly because the interface is more user-friendly & they have both an iOS & an Android app.

A few things to know before buying Bitcoins in India:

Bitcoin is legal in India. However, it’s not regulated by RBI.
According to RBI virtual currencies (like Bitcoins, Litecoins, Etherium, Dogecoins, etc.) trade, and usage of virtual currencies as a medium for payment is not authorized by any central bank or monetary authority.
Unocoin is a legal website to buy & sell Bitcoin.
Well, it’s a no-brainer that RBI & the Indian government will start taking Bitcoin seriously as it’s being adopted by more users globally. I’m pretty sure you are already aware of how popular Bitcoin & Blockchain technology has become in the past four years.

Every country member must give the guidelines like this for the newbies. By all the information which you have given to us about bitcoins and india, I will assume that you belong to india, so can you please tell us what happened to indian fiat currency and bitcoin once the country was passing through demonetization phase. I have heard that all the black money from the different land lords were transferred to bitcoin to escape it and now they are getting the fiat currency back which is the cause of the market fall?

abhishek_bittu

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In India, Unocoin is one of the most popular website to buy & sell Bitcoins. It’s newbie friendly because the interface is more user-friendly & they have both an iOS & an Android app.

A few things to know before buying Bitcoins in India:

Bitcoin is legal in India. However, it’s not regulated by RBI.
According to RBI virtual currencies (like Bitcoins, Litecoins, Etherium, Dogecoins, etc.) trade, and usage of virtual currencies as a medium for payment is not authorized by any central bank or monetary authority.
Unocoin is a legal website to buy & sell Bitcoin.
Well, it’s a no-brainer that RBI & the Indian government will start taking Bitcoin seriously as it’s being adopted by more users globally. I’m pretty sure you are already aware of how popular Bitcoin & Blockchain technology has become in the past four years.

buhchain

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In terms of India's market and national system and its development, bitcoin should not invest in the Indian market, but there are many Indians in the Bitcoin forum because they can get bitcoin through bounty missions.

mustakforum

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India, Asia's second most populous nation in the world, with a population of more than one billion people, is considered the country of the Bitcoin revolution.

Renal

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As time passes Bitcoin gets stronger, though in its journey is not so smooth because there are some investors who often speculate in trading this cryptocurrency. Any government policy can bring its own impact to society that ultimately makes people think and decide themselves to put their assets where. Bitcoin is now an attractive option for maintaining assets. As is known, India has a large market for Bitcoin. If India has legitimized Bitcoin, chances are the future for Bitcoin will be brilliant.

thegreenpay

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Quote from: minorman on June 11, 2012, 01:36:15 PM

Open question:

Why has Bitcoin so far gotten zero traction in India?

Some thoughts...
---
- India has more programmers/computer people than the rest of the world combined.
- People in India love tangible assets (gold/silver)
- The Rupee is crashing and the gold price has just hit an all time high in Rupees.
- > 10⁸ people in India have no bank account or otherwise access to financial services.
- Millions of Indians live outside India and send money to/from relatives in India.
- Unlike China, India has no "great firewall".

---

Last week, many Bitcoiners got very excited that the turnover on the Chinese Bitcoin exchange spiked for a few days. Why? Because there are a lot of potential Bitcoiners in China, of course.
But India does not even have a Bitcoin exchange of its own! Why not?

Now Indians are investing huge amount in BitCoin. India's Fastest Bitcoin Trading Platform | The GreenPay is coming soon.
Read all about the GreenPay >>> https://medium.com/@thegreenpay

buinchain

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In India, because of the religious reasons, the promotion of Bitcoin has had an impact. However, I think the prospect of Bitcoin in India is very good. Over time, Bitcoin may well be far beyond our imagination in India.

McKane

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Quote from: Sithara007 on November 01, 2017, 03:14:32 AM

Quote from: joebrook on October 29, 2017, 08:33:43 AM

Apart from China, India is the country with the most people dealing in bitcoin and other cryptocurrencies in the world, and it's really not surprising considering the number of people living in absolute poverty there and we all know that people living in poverty are always attracted to the prospect of making money all the time.

Being a long-term resident of India, I am pleasantly surprised by your statement. Even then, I would say that the Bitcoin trade volumes in India and the user-base is quite small and not really comparable to those in countries such as China and Russia. I really doubt whether India would rank among the top 10 countries, in terms of Bitcoin trade volumes.

At the point when the bitcoins was not expected that time the rate of joblessness in the India was too high however as the bitcoins were presented the rate of joblessness in the India gets lower and lower with fast and now in the year 2017 the rate of joblessness in India is practically completed due to the bitcoins in light of the fact that all the jobless individuals entered the universe of bitcoins and put some of there cash in bitcoins and now they are carrying on with an effective life world.

ahtremblay

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I heard that India Government is considering ban Bitcoin.
https://cointelegraph.com/news/ban-all-crypto-dealers-india-committee-reportedly-tells-government
This is really awful! The increasing of Bitcoin leads they can't wait to control it. Sad

DU18

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I have many friends in India who are using bitcoin and investing on bitcoin.Also bitcoin is legal in India so people of India can use bitcoin without any hesitation.Many young people above 18 age are preferred bitcoin as earning option.There is no doubt indian people are making bitcoin more stronger by investing on it.Many shops and big markets are accepting bitcoin as pay method.So many new people are showing interest on bitcoin and using it.

equator

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Quote from: stayeduptolate on October 28, 2017, 11:47:55 PM

In now days bitcoin grow ina faster rate in india. Many teenager, adult and middle class people involved in it. In India 1bitcoin is equals to 376488 rupees. According to a current scenario it is good price of bitcoin. Most of india used zebpay app as bitcoin wallet. According to zebpay predation 500k new user will be join monthly in 2018. Indian government declared bitcoin as a legal. So their is nothing to worry about bitcoin investment. Bitcoin become an financial back bone of many Indian family.

Are you sure that Indian government have declared bitcoin as a legal. because as much i know still their is no details about bitcoin status in India. Because if Indian government have declared Bitcoin as legal then you cannot think that how fast the progress will be their in India as all merchants can accept bitcoin and other coins as payment system, just like Japan.

Quote from: Sithara007 on November 01, 2017, 03:14:32 AM

Quote from: joebrook on October 29, 2017, 08:33:43 AM

Apart from China, India is the country with the most people dealing in bitcoin and other cryptocurrencies in the world, and it's really not surprising considering the number of people living in absolute poverty there and we all know that people living in poverty are always attracted to the prospect of making money all the time.

Being a long-term resident of India, I am pleasantly surprised by your statement. Even then, I would say that the Bitcoin trade volumes in India and the user-base is quite small and not really comparable to those in countries such as China and Russia. I really doubt whether India would rank among the top 10 countries, in terms of Bitcoin trade volumes.

I think you are wrong because as much i know India will be in the top 10 countries in terms of Bitcoin trade Volumes and even you can see the price difference in international market and Indian market, here the price is 10% to 20% high then in international market.

Sithara007

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Quote from: joebrook on October 29, 2017, 08:33:43 AM

Apart from China, India is the country with the most people dealing in bitcoin and other cryptocurrencies in the world, and it's really not surprising considering the number of people living in absolute poverty there and we all know that people living in poverty are always attracted to the prospect of making money all the time.

Being a long-term resident of India, I am pleasantly surprised by your statement. Even then, I would say that the Bitcoin trade volumes in India and the user-base is quite small and not really comparable to those in countries such as China and Russia. I really doubt whether India would rank among the top 10 countries, in terms of Bitcoin trade volumes.

kiloiko

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Quote from: stayeduptolate on October 28, 2017, 11:47:55 PM

In now days bitcoin grow ina faster rate in india. Many teenager, adult and middle class people involved in it. In India 1bitcoin is equals to 376488 rupees. According to a current scenario it is good price of bitcoin. Most of india used zebpay app as bitcoin wallet. According to zebpay predation 500k new user will be join monthly in 2018. Indian government declared bitcoin as a legal. So their is nothing to worry about bitcoin investment. Bitcoin become an financial back bone of many Indian family.

It is the best luck of your country that the government of India has declared bit coin as legal crypto currency which is indeed an act of encouragement for the people of India and that is the basic reason that all age of people got involved in bit coin without ant fear and reluctance.

Pamadar

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Quote from: joebrook on October 29, 2017, 08:33:43 AM

Quote from: ~Money~ on October 27, 2017, 01:52:50 PM

Quote from: gribble on October 27, 2017, 12:57:19 PM

India’s Bitcoin Boom: Zebpay Forecasts 500k New Users Monthly in 2018; Hits 1 Million App Downloads. It is awsome bitcoin in India
Indian bitcoin wallet and exchange platform Zebpay strikes a million downloads of its app-only service on Android and forecasts half a million new users a month, up from 200,000 currently.
Launched in 2015, bitcoin startup Zebpay is now among India’s major bitcoin exchanges alongside Unocoin and Coinsecure. Unlike its competitors, Zebpay has adopted an app-only model in a country where mobile tariffs are among the cheapest in the world with a soaring adoption rate of smartphones. https://www.cryptocoinsnews.com/indias-bitcoin-boom-zebpay-forecasts-500k-new-users-monthly-2018-hits-1-million-app-downloads/

i am sure it will be grow more and more if nothing bad comes from govt or rbi side then btc will be huge here in few months .I am thinking to use btc as payment option on my shop Grin

Apart from China, India is the country with the most people dealing in bitcoin and other cryptocurrencies in the world, and it's really not surprising considering the number of people living in absolute poverty there and we all know that people living in poverty are always attracted to the prospect of making money all the time.

that's also the reason why more people got scam because of this perceptions not realizing how this system will help them to achieve financial freedom,
there's a lots of people from india whos also playing with bitcoin and other crypto coins the only problem is there's also a lots of people who tried to
gain in an easy ways trying to create hyip and Ponzi or scam projects.

joebrook

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Quote from: ~Money~ on October 27, 2017, 01:52:50 PM

Quote from: gribble on October 27, 2017, 12:57:19 PM

India’s Bitcoin Boom: Zebpay Forecasts 500k New Users Monthly in 2018; Hits 1 Million App Downloads. It is awsome bitcoin in India
Indian bitcoin wallet and exchange platform Zebpay strikes a million downloads of its app-only service on Android and forecasts half a million new users a month, up from 200,000 currently.
Launched in 2015, bitcoin startup Zebpay is now among India’s major bitcoin exchanges alongside Unocoin and Coinsecure. Unlike its competitors, Zebpay has adopted an app-only model in a country where mobile tariffs are among the cheapest in the world with a soaring adoption rate of smartphones. https://www.cryptocoinsnews.com/indias-bitcoin-boom-zebpay-forecasts-500k-new-users-monthly-2018-hits-1-million-app-downloads/

i am sure it will be grow more and more if nothing bad comes from govt or rbi side then btc will be huge here in few months .I am thinking to use btc as payment option on my shop Grin

Apart from China, India is the country with the most people dealing in bitcoin and other cryptocurrencies in the world, and it's really not surprising considering the number of people living in absolute poverty there and we all know that people living in poverty are always attracted to the prospect of making money all the time.

gaitchs

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They are busy investing in foreign projects. India needs indians Bitcoin projects or crypto peojects

MMS2017

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I think the currency like bitcoin is very known to all the countries and many of user will be from India as well as it is the world famous currency most of the people get buy and sale their currencies online in the world market so I think all the country members are working for bitcoin it’s not up to the size of the country it is up the value of bitcoin to others the country like India will also like it.

Sony.UK

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Quote from: stayeduptolate on October 28, 2017, 11:47:55 PM

In now days bitcoin grow ina faster rate in india. Many teenager, adult and middle class people involved in it. In India 1bitcoin is equals to 376488 rupees. According to a current scenario it is good price of bitcoin. Most of india used zebpay app as bitcoin wallet. According to zebpay predation 500k new user will be join monthly in 2018. Indian government declared bitcoin as a legal. So their is nothing to worry about bitcoin investment. Bitcoin become an financial back bone of many Indian family.

Yes. More became aware and they share into it. Its getting spread all over India day by day. Hope bitcoin enriches Indian bitcoin users. I am sure many would good lifestyle because of bitcoin.

stayeduptolate

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In now days bitcoin grow ina faster rate in india. Many teenager, adult and middle class people involved in it. In India 1bitcoin is equals to 376488 rupees. According to a current scenario it is good price of bitcoin. Most of india used zebpay app as bitcoin wallet. According to zebpay predation 500k new user will be join monthly in 2018. Indian government declared bitcoin as a legal. So their is nothing to worry about bitcoin investment. Bitcoin become an financial back bone of many Indian family.

eaLiTy

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Quote from: equator on October 28, 2017, 02:29:47 PM

It is nice to hear that the progress of bitcoin adoption in india is going in full force and the exchanges are getting heavy traffic of new users but until government dont give any clarification on bitcoin it cannot flourish more.

Most of the exchanges in India are flooded with users and some of the exchanges even stopped accepting new members until they could accommodate everyone,since all of the exchanges follow strict KYC policy sometimes it takes a longer time get approval and it shows the growth of bitcoin in India and two days back there was a feature in times of india regarding bitcoin ,it is a interesting read .I think that the government will follow steps like Japan to curtail fraud and come up with regulations.

Topic: Bitcoin in India (Read 10473 times)