How to buy and sell Bitcoin in India?
Regulatory concerns are not to be taken lightly, and India is no different: for example, the Indian government has said that Bitcoin can't be used as a part of the payments system. However, nobody expressly forbid people from trading in cryptocurrencies, as long as they’re not treated like legal tender.
Thanks to all the hype surrounding cryptocurrencies lately, understanding how to buy Bitcoin in India is key to everyone who wants to take part in it.
There are several ways to buy Bitcoin in India:
- On a local or international exchange (read here about choosing one)
- By finding a local dealer on a marketplace like localbitcoins.com and buying bitcoins from them with cash, credit card, via PayPal, etc.
- By selling goods or services for bitcoins
- If your question is how to buy Bitcoin with cash, this can be done by visiting the nearest Bitcoin ATM (at the press time there was one such ATM in Delhi) if that is an option.
How to sell Bitcoin in India is not different from buying. If you’ve decided to use local exchanges such as Coinome or Coinsecure, all you need to do to sell Bitcoin in India is offer it on an exchange. Otherwise, you can use a marketplace, such as the earlier mentioned localbitcoins.com.