How to Buy/Sell Cryptocurrency in India after the RBI Circular?
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This is my answer to one of the questions asked by one of my Followers @akdx. This was the question he asked.
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My Answer
So now that RBI is reigning down the Cryptocurrency Trade in India by asking all Entities to stop their Services it will be harder for People to Buy/Sell Cryptocurrency in India.
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That being said it would not be impossible as there are many Peer to Peer Transactions going on in Platforms such as LocalBitcoins or Remitano where you can Buy/Sell Cryptocurrency directly from a Person. This is the easy way there are some other ways too that requires a Bit of Complicacy like getting Dollars for your Cryptocurrency and then Converting it to INR which would be perfectly within the Norms.
So guys there is no need to Panic if you are From India there are several ways for you to Cash Out.
I think no one can stop crypto revolution.
Yes that is very True even if there is a massive crackdown in the entire world there would still be individual people's Mining Bitcoin.
Your answer is very good. You are doing very good work. Thanks @atunava for sharing information about cryptocurrncy. I hope your follwer @akdx is satisfied from your answer.
Soon there will be exchanges which will allow PayPal withdrawal and deposits. Then it should resolve issue.
If you remember a decade back, RBI imposed similar conditions stating we cannot hold currency in PayPal to stop Forex exchange.
RBI just want to control Indian people and their money!
The main issue here is the fact that Government is getting Taxes from Is and Cryptocurrency Exchanges both but the Bank is getting nothing so a slight Ego Problem o guess
I think In future Indian Govt are support CRYPTO.
After RBI circular using PayPal or Payza can convert dollars into INR
I have an account on Payza and I know they have both INR and USD Wallets but I have no idea how to convert from USD to INR
I suggested you watch any youtube videos "how to convert bitcoin into fiat currency in Payza".
I sure hope so :)
Hoping for the best
Wow so much insight about the topic. I'm thrilled. I hope the @akdx is satisfied with the given answer. Thanks boss
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Informative sharing thanks