It's worthless. I've bought $100 worth of BTC and they've given $92 worth of it (Remember; there cut is 8%)... Not only this, one has to pay currency conversion fee (INR > USD/EUR) which adds up to 2.5%, so in total one has to pay roughly 10.5 to 11%. To hell with profits, I'm feeling at a loss here
This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?
This makes me ask; where do you guys buys BTC from? I've had a look at LocalBitcoins but is there any other option?
How is your experience with moneypolo Is there any better option that I'm missing out for Indian buyers?
How do you buy from Moneypolo, do You make bank transfer or payment is done through debit/credit card? Localbitcoin is good if you know that seller/buyer is genuine or else can try Indian exchange.
You can buy via Moneypolo with debit / credit card
Your DC/CC > MP FUNDS > WITHDRAW AS BTC-E COUPON > LOAD BTC-E > GET BTC > WITHDRAW BTC TO MP > WITHDRAW TO YOUR MP VISA CARD > WITHDRAW TO LOCAL ATM IN INR
Can any question from any government authorities may attract in coming time if purchased BTC from CC/DC? Or is there a limit that you can buy upto a limit from CC/DC outside India during a year?
Income tax Authority can ask question from according to bill pay of credit card. Like you file ITR for 500k and paid bill of CC for more then 500k for buying bitcoin from outside India. Then it will be really hard for you explain.
I just gave example, even if you buy 200-300k and don't file ITR, just wait for notice from Income tax authority. Credit card transaction is too much trackable, and IT Authority always keep eye on that.
Even if you buy directly from your bank then also you have to give detail to the income tax authority so it is better to show in your income tax about the trading details and its profit also and pay tax to be in safer side.
