YOU CAN BUY BITCOIN FOR CASH OR NEFT/IMPS AT THESE FOUR EXCHANGES

-


By now everyone has heard the news about the INR deposits and withdrawals delays, temporary halts on multiple exchanges. Well if you cannot deposit or withdraw your money, how can you buy Bitcoin and other Altcoins which are cheaper than the exchanges that holds your money?
Fear not, you can still buy Bitcoin and other cryptocurrencies at these places from people like us with a simple IMPS/NEFT bank transfer or even Cash. This process can also be referred to as OTC trade. Peer-2-Peer Bitcoin exchanges are bringing their businesses to India, to capitalise on the opportunities opening up. While the incumbent players rely on manual intervention and payment partners to process user deposits, P2P exchanges work differently.
You as a buyer have to make IMPS/NEFT transfer to the seller’s bank account to purchase Bitcoin. Once the payment is made and confirmed, you get your Bitcoin. All these exchanges follow an escrow model, meaning once you place an order the seller’s bitcoin is placed in Escrow so that he or she cannot run away with your money.
A quick disclaimer: Although rated safe and secure, Bitcoin trading carries a risk. Stay Vigilant
Check these out:

1. LOCAL BITCOINS

A decentralised platform that allows users from different countries to exchange bitcoin for the local currency. Local bitcoins is the most popular site in India for over the counter trade of Bitcoins. You can choose from existing dealers or create your own advertisement to purchase or sell Bitcoins.
Alternatively you can find an offline seller nearby and buy Bitcoins using Cash.
Bitcoin over the counter OTC trade
Local Bitcoins is the place to buy Bitcoins using online transfer or find offline sellers to buy with cash
Fees: Buying and Selling Bitcoin is Free. Advertising on LocalBitcoins attracts a 1% fee from the trade.

2. REMITANO

Another Peer-to-Peer marketplace for Bitcoin and Ethereum. Remitano has one of the best interfaces. It also uses a sort of Maker-taker model, hence if you place an advertisement and someone fulfils it, you pay no fees.

Fees: The Makers pay 0 Fees. The takers pay 1% fee.

3. PAXFUL

Relatively new in India, Paxful offers a variety of payment options to buy bitcoin. Besides NEFT/IMPS, you can use Amazon gift card, Steam credits, Paypal, wester union, even credit and debit cards. Paxful offers a 24/7 Support which is an added advantage.
Paxful offers multiple ways of Buying Bitcoin, even Paytm
Fees: Buyers Pay 0 fee, Sellers Pay 1% Fee

4. MYCELIUM LOCAL TRADER

If you do not trust sending your precious INR to someone via internet banking, you can always meet someone in person and transact. Mycelium offers exactly that. The Mycelium local trader finds the nearest traders you can connect with to buy/sell Bitcoin for cash.
How to find a trader to buy and sell bitcoin for cash in India
Mycelium App will find the nearest traders
Fees: 1% Fee for all transactions
Well that is our list folks, hope you guys can get the best deal out of this. Don’t forget to let us know in the comments below.
Although I am more of an Altcoin trader and I have made my list but you always need Bitcoin to use exchanges like Binance.

Comments

Post a Comment

Popular posts from this blog

How Cryptocurrency Prices Work, Explained

-
Image
1. How do cryptocurrency prices compare to fiat currencies? Neither is backed by a commodity like gold or anything with an underlying value. The biggest difference between cryptocurrency values and fiat money is that fiat currencies are backed by central governments and declared as legal tender. Its value is basically derived from the fact that the central government has stated that it has value and two parties in a transaction put their trust in that value. Most countries today operate in a fiat currency system, where central banks and monetary reserves control the supply of money and, as such, indirectly control inflation. Cryptocurrencies, on the other hand, are not controlled by a central government or authority, and most regions do not accept them as legal tender. Cryptocurrencies will also generally have a fixed supply and, therefore, the devaluation of cryptocurrencies through inflation is mostly nonexistent. Other than that, both fiat and cryptocurr...
Read more

The Daily: Bitcoin Enters Indian Politics, Blockchain Obsession Grows

-
Image
On the backdrop of recent developments concerning the status and the future of cryptocurrencies in India, Bitcoin has been dragged into a political scandal between the country’s two major parties. We’ve covered the story in today’s Bitcoin in Brief. Also in the daily, check the details around some BCH-related projects and services, as well as the latest incarnations of the blockchain technology. Bitcoin in a Blame Game With all the emotion surrounding the  fate  and  future  of cryptocurrency in India, it was just a matter of time before Bitcoin entered big politics and big scandals in Delhi. This week, the Indian National Congress (INC), one of the two leading parties in the country, accused its major political opponent, the ruling Bharatiya Janata Party (BJP), of being complicit in a “bitcoin scam”. On Thursday, INC spokesman Shaktisinh Gohil demanded a judicial probe into an alleged money-laundering scheme using the cryptocurrency. Shaktisinh Goh...
Read more

Indian State Embraces Blockchain Technology to Mitigate Fraud in Government

-
Image
The Indian state of Telangana looks primed as a blockchain technology forerunner in the subcontinent. On July 26, 2018, state officials signed MoUs with various blockchain startups and consultants to augment the use of the burgeoning technology in administrative services. Bringing Transparency to State Administration As  reported  by  Business Standard , Telangana’s I.T. and Industries head Jayesh Ranjan noted the implementation of blockchain technology in “six or seven” government applications. Earlier, the state had piloted blockchain-based land registry and pension platforms to bring transparency and mitigate fraud in the two middlemen-dominated businesses. Rajan revealed migrating to blockchain-based platforms helps omit the opacity of governmental sectors by assisting citizens in tracking sensitive information and pinpointing the progress of essential applications. However, Rajan did not name any area of implementation yet, rendering any presumptions as ...
Read more