Bitcoin officialy Legal in India!
If you remember before the crazy rally India was the first country to have 1000 USD which was a premium back then.
Later they had 2000 USD along with Korea when nobody else had and my prediction of the raise based on this was right - original post here https://steemit.com/bitcoin/@kingscrown/bitcoin-in-india-and-korea-at-2000-usd-will-world-follow
Status of BTC in India was still not known and BJP's Kirit Somaiya (ruling party in India) tried to make BTC look like ponzi scheme to even make it banned.
But despite it... Bitcoin from now on is considered fully legal. The premiums are expected to disappear and volumes to raise.
Massive Spike on LocalBitcoins
We can see loads of trades already came in at face to face.
If you never used LB just register, you never know when you can make some premum BTC sell there. Its available almost in all countries.
Volumes
Sadly Indian exchanges are low volume so hard to find their listnings.
Coinsecure has 72 BTC
Other 2 exchanges do not show volumes but we can expect 1/3 of Coinsecure which is the main one there for now.
If you are from India please leave comments about how this exchanges work etc.
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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There are some good exchanges here in India like Zebpay and Unocoin. I personally do my tradings in pocketbits. It is fast and have a very good online customer support. Also they guarantee of average time of 59 minutes for account verification and buying BTC
Zebpay and Unocoin i know of just they dont show volume, thanx for info about pocketbits!
e have a whatsapp group for Steamit members specialy Indians to form a community and engage more and more people around us.
Join in
https://chat.whatsapp.com/2Ug5jYjQwyHAJEzSp8vCW7
Just joined the group. Looking forward to learning from you guys.
meep
what's up with the btc network's speed, 3 weeks ago 1 transaction could take 3-4 days to complete ....
you add me in your group?
do checkout this post for unique points about pocketbits
https://steemit.com/bitcoin/@tejbindersingh/5-reasons-to-use-pocketbits-to-buy-bitcoin-in-india
look at what GDAX Coinbase is doing about the crash!!
https://steemit.com/gdax/@austinsandersco/gdax-reversing-margin-calls
@tejbindersingh
Pocketbits looks pretty well designed. I will be looking more into it, thx
do checkout this post for why pocketbits is good
https://steemit.com/bitcoin/@tejbindersingh/5-reasons-to-use-pocketbits-to-buy-bitcoin-in-india
if you have any queries about pocketbits let me know, i have been using it for a while now
Now people can pay Micrsoft scammers with bitcoin :-)
followed you ;)))
And i follwed you back. :)
i hope some new good exchanges come up with this . If you see Zebpay and Unocoin, they basically cheat people with their buy and sell rate, which is nowhere closer to international price.
If you google the btc rate in USD and multiply it by 64.5 to get INR, the value will be lesser than the buying rates on zebpay or any exchange in India. This rate also varies from market to market and exchange to exchange, for example the current BTC rate in usd is 2600, but bitcoin ATMs sell it for somewhere around 3300 dollars.
The only thing you can check is among the exchanges in India and among those exchnages what is the transaction fee and processing time, basis this you can select your exchange
can you sugest which one is best coinsecure? or zebpay
You should consider coinsecure over zebpay
Reason 1- the difference in buying and selling is at same rate in coinsecure while there is a difference of almost 7000 rs in buying and selling price on zebpay
Reason 2- you can view the live exchanges/trading on coinsecure and not on zebpay
My personal experince in terms of UI and sign up process has been almost same in both the sites, but make your decision after visiting and reading the content on both sites. Good luck !!
Paji sab to bolte hai Zebpay acha hai..Pocketbits ka kabhi suna nhi..
i have personally done a lot of transactions on both the exchanges and i would recommend pocketbits, to know the reasons pls read this post
https://steemit.com/bitcoin/@tejbindersingh/5-reasons-to-use-pocketbits-to-buy-bitcoin-in-india
try https://remitano.com/?ref=neelamvish
https://www.bitlio.com
It is interesting that it was India who officially recognized bitcoin as the first. Although it has few exchangers, and it seems that it is not a very computerized country
http://www.ibtimes.com/why-looprings-price-could-more-triple-end-2018-2640987
we have a whatsapp group for Steamit members specialy Indians to form a community and engage more and more people around us.
Join in
https://chat.whatsapp.com/2Ug5jYjQwyHAJEzSp8vCW7
Coinsecure is also doing great job. They have lowest prises in india
good to know that. how much do they charge as transaction fee??
Transaction fee is low 0.0001 btc
great then
Good development. India is out there to change they way transactions are done in India. Welcome to India.Kindly follow me @bewajijohnson
Check out bitxoxo.com
I usually use it for buying BTC.
They have Excellent support (24*7) & you get BTC in a few hours !!! Opening a new a/c is hassle free.
The rates may not be really competitive but i don't have to wait for a day to get BTC..
I would highly recommend it.
i will check this site, but as i said pocketbits grantees you 59 minute average time which is better than many other sites currently running
Unocoin is not technically an exchange as it does not allow live trading
Technically it is not, i agree , also i read somewhere that they are working on that
One can always make a few extra bucks by lending BTC on Poloniex exchange. Something not a many in India know. But be cautious to spread out your reinvestment across platforms/exchanges.
Ok tell me about pocketbits, can i buy bitcoin at a lower rate there
the price of btc varies slightly from exchange to exchange but the transaction fee for buying BTC in pocketbits is ZERO. if trade them to some other address then they charge you a flat rate of 0.0005 BTC
Sweet! Thats great news. More volume is always good. =). Thanks for the post.
This indeed a great news for us Indians..Hope coinbase allows us to buy now, as indian exchanges prices are always on higher side :-)
Coinbase sucks for everybody now :)
This is great news. I'm from India and I've been using Coin secure from a very long time, they are the best when it comes to selling or buying as there is no middleman. There are around 5 exchanges so far, but more will definitely come.
Bitcoin only rose to fame over here in the last year. More than 90 percent of the population have never heard of Bitcoin or crypto currencies. India is definitely going to be huge for Bitcoin.
I have quite unique information on bitcoin in India check out my blog
Fake news bitcoin isn't official legal in india
https://steemit.com/bitcoin/@kishan/indian-goverment-guidelines-for-bitcoin
https://steemit.com/bitcoin/@yinka/asian-nation-to-accept-bitcoin-as-payment-for-flight-tickets
This is great if its true.
So many people in India got cleaned out when they when the put a ban on the Rs500 and Rs1,000 notes .
check the article here.
https://www.ft.com/content/d0df23f0-d8b6-11e6-944b-e7eb37a6aa8e?mhq5j=e2
This is why Fiat currency is rubbish. They will only do what suits themselves. The little man always loses.
India is great country. I guess they very fast join world of new technologies. I don't think that bitcoin gonna move to the moon but that is real good news. Who's next? Waiting for China.
Yes you can buy bitcoin from zebpay also
Congratulations. The bankers must be going nuts!
Wow, this is good news! I hope Indians will start mining now under the same circumstances as the Chinese (cheap energy and cool climate in the mountains) and re-decentralize bitcoin mining again.
From 2018 Bitcoin will also be legalized in Russia and there I expect the same. After Segwit, when Jihan will lose his 20 - 30% advantage and mining activity rises in countries like India and Russia the mining centralization problem is solved and Bitcoin will be even stronger!
yeah think so
Glad to hear Russia is going to legalize cryptos, are they not backing Ethereum more due to Putin - Vitalik http://www.zerohedge.com/news/2017-06-12/putin-meets-ethereum-founder-create-national-virtual-currency Obviously legalization of crypto-currencies in any case would make a large difference, if its Ethereum, Bitcoin, Dogecoin etc, as long as it helps block-chain technology :)
A Strong women looks a challenge in the eye and gives it a wink
Cheer for world cup final for Team INDIA @aaravm and upvote post
[deleted]
Totally agree ! :) Upvoted, follow me ;)
https://steemit.com/bitcoin/@yinka/asian-nation-to-accept-bitcoin-as-payment-for-flight-tickets
Wow, I should say congrat to bitcoin and all those altcoin holder! I am wondering when will it be illgeg in Hong Kong. Hong Kong claim that they are the internatinal financial center, but their law system is just soooo old and don't want to push effort to change. So, I bet it will be a very long time, or we can never see that before Hong Kong dead.
P.S. Still not yet purchase any altcoin, as the price go up too high...waiting for a good chance..may I have any sugestion from you? Thanks!
Look no further. STEEM is a great investment. Still very undervalued IMO.
Thanks for the suggestion, yes, now still work on Steemit. But what is your opinion for the recently drop of SBD-BTC?
Look for some efficient micro-payment blockchains, such as Stellar, LTC, or even Doge.
For bigger investments, I would look for increased technology, such as if a blockchain can handle a larger amount of transactions per second, or if they have a new smart contract feature that perhaps is better than Ethereums
Thanks for your advise. I have read Stellar news, is it claim that it will give our for free according to the BTC amount you hold on 26th June?
Do you think there is potential that Ethereum will just buy out the competion that is better than theirs?
look at $LDOGE - It's only on Cryptopic and YoBit but at 4 satoshi, it's the cheapest coin right now with incredible tech and a great community. buy before this whale wall dissipates :) 👌🏻🙌🏻💰📖✔️🍀
I have read this, but not sure about the technology it use is useful, seems not really much contribution to the market..
It is a better doge than doge outside of network effect. the tx volume and speed on LDOGE way exceeds refular doge. i have a small pile full disclosure.
lol. Doge is a pile of s... why would I want a slightly better pile of s?
Craziest thing about this isn't that India adopted but rather what that news didn't do to the price. I remember back in 2013 when every day it was seemingly:
India is HUGE news because it brings a population of 1 billion plus people to Bitcoin. If every citizen wanted to grab some Bitcoin, and I know its a ridiculous thought experiment, each could only get 0.021 equally.
So IMHO, this is very Bullish news for not just Bitcoin, but cryptocurrency in general. I just am shocked we didn't see some spikes today because of this news.
India's govt outlawed a bunch of their paper bills back in November-December...which basically put most small businesses in a tough spot because they only accepted cash. That did cause a spike in bitcoin. This news is a good for bitcoin...but will be a steadier increase rather than a spike.
Agreed.
I remember those days well too 😁😁😁😁
I think the separation of economies in the real world keeps price discovery between markets low so it could take time to see the effects. My guess is we'll see no major spikes from this but a long period of consolidation leading up to these fork dates. After that, either correct or 5k.
this is probably true. those who try to hold out for the fork results will slowly give in and buy before it happens, not wanting to miss out. spike is definitely coming once indian exchanges begin to bloom.
I wonder how many Indians even know, let alone most people elsewhere...
But Antshares ASAP, thank me later.....
https://steemit.com/antshares/@dragonsteem/will-antshares-double-after-tonight-s-antshares-conference
That's awesome! I think cryptos are still in the early innings of a bull market
Yep it is being recommended in a major Investment Subscription. They have a very Bullish Recommendation and a very high buy up to price.
I think so too.
Good news. That will bring a whole bunch of new users. I have a student from India who actually studies cryptocurrency but couldn't use BitCoin because of the regulations.
By the way: your animated character at the footer of your post inspired me to work on my own:
Holy shit I would pay you in crypto for one of these -- What would u charge and would you be willing to do a gig?
You want to stop me from climbing on Steemit, admit it!
No but seriously, I am interested. Depends on what exactly you need. Animated GIF with a handdrawn character?
I am also doing animated puppets for Adobe Character Animator. That's a really cool subprogram of After Effects. Easy to use. https://steemit.com/animation/@flauwy/adobe-character-animator-the-future-of-animation
What do you mean by gig?
gig just means a short project u get paid for n then ur done -- i'd really like an animated logo i can use for my steem posts. i'm trying to think of a great concept.
Well, I am happy to work with you on that project. Let me know what you come up with and tell you my price. :)
@flauwy
Ha ha ha :) Upvoted, follow me ;)
Wow, this will be HUGE for Bitcoin! Not only is India one of the largest countries in the world, with their adoption, more people will follow! Exciting news for the future :)