Isnt buying or selling bitcoin banned in india specially when you are using banking system?
Source: https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Also no any banks can provide financial service to bitcoin exchanges or related businesses, so how you guys are operating there.
Source: https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Quote
Finance minister Arun Jaitley, in his budget speech on 1 February 2018, stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems.
Also no any banks can provide financial service to bitcoin exchanges or related businesses, so how you guys are operating there.
Quote
In early 2018 India's central bank, the Reserve Bank of India (RBI) announced a ban on the sale or purchase of cryptocurrency for entities regulated by RBI.
Have you seen volumes on Localbitcoins?
how do the people buy and sell BTC there?
Buyer simply transfers money from his account to sellers account and seller releases the BTC from his Localbitcoin account. Bank doesn't know why this money was transferred.
same way, Bitzee provides bank account where you can transfer the money and you'll get BTC in return. Bank never knows for what reason the money is transferred.
