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India as a country has taken pretty kindly to Bitcoin as the country is no stranger to currency issues.
Back in 2016, the Indian government announced the demonetization of the 500 and 1000 Rupee bills.
This was a pretty controversial move by the Indian government and led to many citizens becoming even more in favor of cryptocurrency.
Due to the mass movement towards technological innovation, the Indian government took a regulatory stance towards cryptocurrency and claimed to lay down a ban on Bitcoin on other cryptocurrencies.
At press time, Bitcoin is still completely legal to buy in the country.
And that’s why you’re here.
Today, we’re going to teach you how to buy Bitcoin India.
If we had to summarize the best options for buying Bitcoin in India, they are:
Keep reading to learn more about the best options for purchasing in the country!
Let’s get right into it!
WazirX is a popular cryptocurrency exchange based in India. They recently partnered with Binance, a massive players in the cryptocurrency space bringing even more legitimacy to the WazirX name. They feature some of the most competitive fees in the country at .2%, and have a mobile app for easy access.Visit WazirX
Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases. They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 46 US States, and most countries.
Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to. As long as you have your own wallet, this shouldn’t be an issue!
Coinmama charges a fee of around 5% for credit and debit purchases with instant delivery and high purchasing limits of a max of $5,000 daily and $20,000 monthly.
Click here to see a step by step guide on how to purchase Bitcoin on Coinmama.Visit Coinmama Read Review
Unocoin is one of the most popular exchanges in India. In fact, their exchange is specifically designed for Bitcoin. If you want to trade other cryptocurrencies, try Unodax, their digital asset exchange.
Unocoin allows users to purchase Bitcoin via IMPS, NEFT, and RTGS bank deposits. 3-24 hours after the payment reaches Unocoins accounts, you will receive your Bitcoin.
For fees, Unocoin charges a .7% trading fee. For those looking to trade often, this fee can go down to .5% with enough volume. As far as limits go, Unocoin allows users to buy 10 BTC a day, and sell 2 BTC a day.
These are pretty high limits, considering they reset every day. Similarly to fees, after enough trades are made, limits can be increased.Visit Unocoin
LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange. On the exchange, users to trade among themselves by posting a quick buy or quick sell ad on the exchange platform. Fees and limits will depend on the offer or ad that you select.Visit LocalBitcoins Read Review
Bitcoin ATMs are a great method to buy Bitcoin privately, according to the source CoinATMRadar however, there’s only one ATM in the country located in Delhi. If this ATM is nearby, it’s definitely a solid option.
Absolutely, despite the media’s various claims of Bitcoin and cryptocurrency being banned in India, there’s nothing definitive. Many cryptocurrency companies are licensed to operate in the country.
From basic research, we’ve concluded Bitcoin and cryptocurrency gains in India are subject to a capital gains tax. We’d recommend speaking to a tax professional to ensure that you’re taking the necessary steps and paying the correct amounts. For assistance with that, we recommend learning more about cryptocurrency tax software.
There are several factors you’ll want to consider when choosing a Bitcoin exchange. Here are some of them:
Once you have these factors figured out, these are some of the best ways to buy Bitcoin in India: