With the growing price and interest of Bitcoin these days, there are more and more people interested in investing in the new form of money. Earlier this was a luxury for the westerns and if you lived in India, it was hard to get access to Bitcoin. Now, as a startup ecosystem is growing in India, there are a handful of startups focusing on Cryptocurrencies. But, before getting into that, what you need to know is,
Is Bitcoin legal in India?
At present, there is no law in India for Bitcoin, which makes it completely legal to purchase and sell Bitcoins in India. Unlike Nepal or China, India focusing on going cashless and hence it is unlikely to ban bitcoin in the near future. China is known for banning everything new, including google and youtube. So, as long as you are in India, it is safe to invest your hard earned money in Bitcoin. I hope this answers your question – Is Bitcoin legal in India?
Now, the second question – How and where to buy Bitcoin?
Unlike the US, we have very limited options in India to trade Bitcoins. I will talk about the 2 major exchanges easily available for us in India. Zebpay and Unocoin are the popular exchanges among Indians. But, if we compare the two – Zebpay is probably the safest to invest money on. They have pretty solid systems with good accuracy and reliability. If you have visited Unocoin’s play store app a month ago, you would know how many bad reviews were flooding there. But, recently all the bad reviews are converted into 5-star referral comments – which is clear indication that the reviews are not genuine and the company is paying users to write good reviews.
I have personally purchased Bitcoins multiple times through Zebpay, and I have had smooth transaction always. If you transfer money via NEFT to their Kotak account, the deposit fee is zero which is great! Once you deposit the amount into your Zebpay account, you can instantly start trading Bitcoin. For starters, you can click on the button below and sign up for an account to get a Bitcoin free worth Rs. 100. or You if you already have an account, you can apply referral promo code: REF81756903 to get free Bitcoins.