Which is the best way to exchange bitcoin after RBI ban?

libert19

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Quote from: UmerIdrees on May 12, 2019, 08:03:41 AM

Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

Although i do not belong to India but i heard that ban in India was rumor and there were no official statements about the ban by the government.

Even if they ban bitcoin, people can still use local bitcoins to buy or sell bitcoins, and they will not be caught by the government if they place proper proxies and never use the word "Bitcoin" while make payments through banks to purchase bitcoins.

RBI ban is reality, meaning the central bank has prohibited banks dealing with crypto individuals. But, there is no complete ban.

There is hearing for the same in court but it keeps getting postponed.

avikz

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Quote from: Haunebu on May 12, 2019, 12:50:07 PM

For the love of God, it is close to impossible to ban crypto. The Indian government never supported crypto from the beginning, but this affected exchanges while the individuals continue to trade crypto on platforms like LocalBitcoins without any issue.

Right! It's almost impossible to ban cryptos. But on the other hand, if India implements punitive measures to curb the use of cryptos, then it will become a big challenge even for p2p platforms like localbotcoins. Currently we can even meet with traders at our nearest locations to trade cryptos against cold hard cash, but it will be severely reduced if government starts taking using punitive actions against the traders.

Complete ban is not possible most certainly but the activities will be severely reduced. Government can even get un touch with localbitcoins platform to get the user's data as a lot of people are kyc verified there!

Haunebu

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For the love of God, it is close to impossible to ban crypto. The Indian government never supported crypto from the beginning, but this affected exchanges while the individuals continue to trade crypto on platforms like LocalBitcoins without any issue.

Genemind

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I have heard that India is planning to ban cryptocurrency but I haven't heard any confirmation or announcement regarding this matter. I have friends who are still buying bitcoins in India so I guess you should not worry for now. P2p is also a good choice if uncertain things happen.

thesmallgod

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Quote from: pakhitheboss on May 12, 2019, 07:21:15 AM

Indeed P2P trading is the best option. But have you heard about Giottus Exchange based in Chennai India. After the RBI ban I have been using it at a regular interval and I am pretty much impressed by their professionalism. Not only you can Buy Cryptos using INR (Indian Rupee) but you can also withdraw in INR. The amount gets credited to your Bank account within 30 minutes. You can trade Bitcoin, Ethereum, Litecoin and Ripple at Giottus. If anyone is planning to Buy/Sell Bitcoin using INR then use this link to register: https://www.giottus.com/?refcode=RR98JCB604

This is very wrong. You could drop the website without adding your referral link. I know you are a junior member but always follow the rules and regulation on this platform if you do not want you account trust to go red.

avikz

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Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

Just to give you a little perspective,

Countries that legalized bitcoin -
1. Japan
2. Germany

Countries that banned bitcoin -
1. Pakistan
2. Bangladesh

India is soon going to join the 2nd league and I can't be more ashamed about it!

Anyway, p2p is the best method as of now. There are websites where you can actually execute a bitcoin trade by meeting a person in your local area where the trade is settled in cash. I have been using p2p method to exchange my bitcoin since a long time now and I can recommend localbitcoins for their security and escrow facility.

Beerwizzard

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Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

I'm very sorry to say that but most people here don't give a fuck about India and all things that happen there. People in this section do not live in India and they have no idea what local p2p services do you have. Put stickers with your phone number around streets in your city and wait until someone will call you and decide to sell you some coins. I've just made a best p2p exchange strategy for India that can be used by everyone.

UmerIdrees

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Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

Although i do not belong to India but i heard that ban in India was rumor and there were no official statements about the ban by the government.

Even if they ban bitcoin, people can still use local bitcoins to buy or sell bitcoins, and they will not be caught by the government if they place proper proxies and never use the word "Bitcoin" while make payments through banks to purchase bitcoins.

pakhitheboss

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Indeed P2P trading is the best option. But have you heard about Giottus Exchange based in Chennai India. After the RBI ban I have been using it at a regular interval and I am pretty much impressed by their professionalism. Not only you can Buy Cryptos using INR (Indian Rupee) but you can also withdraw in INR. The amount gets credited to your Bank account within 30 minutes. You can trade Bitcoin, Ethereum, Litecoin and Ripple at Giottus. If anyone is planning to Buy/Sell Bitcoin using INR then use this link to register: https://www.giottus.com/?refcode=RR98JCB604

Ailmand

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Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

I think there's no announcement regarding the ban, they might have been discussing this, but as long as there no announcement by the government you should not worry about this. If so, there's no other way but for people in India to abide with the law and regulations mandated by their government. Let's just hope they will reconsider crypto regulation rather than total ban, but I guess they are firm with their stand since they think that crypto currency is a Ponzi Scheme.

AjithBtc

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Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

Those are entirely wrong. Till date there isn't any ban on the cryptocurrency. Some statement was revealed from the government authority stating that it cannot be used as a asset for exchange. People can use on their own risk, and there is continued research going on within the country to regulate as India has got good number of cryptocurrency users.

Nadziratel

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Quote from: Prateek_sharma on May 11, 2019, 03:44:19 AM

A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

I guess the topic in India is still mixed. There's always news on the ban. First of all we need to be informed about this.

Prateek_sharma

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A buzz was struck to the crypto community in India in late April as reports circulated regarding a proposed ban on cryptos. banks cut down the bank accounts who are doing transactions of bitcoins.

I think p2p trading in India is the best method to exchange bitcoin in India, there are several p2p trading platforms available in india.

What's your take on p2p trading?? let me know!!

Topic: Which is the best way to exchange bitcoin after RBI ban? (Read 188 times)