as it is the largest Bitcoin platform in the country in terms of daily valume. Visit Website Advantages and Disadvantages of Using Indian Bitcoin Exchanges and Brokers While India-based companies do make it easy to buy and sell Bitcoins, the major problem is that almost all of them are governed by Indian law, which is why you need to furnish. Unocoins volumes at the end of October were just 10 of what they were three months ago. It also offers additional services, such as mobile recharges and bitcoin gift vouchers. In July, Zebpay also enabled its bitcoin-app users to recharge their prepaid or pay for their postpaid plans with telecom operators such as Vodafone, Airtel, Uninor, Tata Docomo, Reliance, bsnl and mtnl. Additionally, the Indian tax authorities have served notices to thousands of cryptocurrency investors believing that they have skipped paying taxes. On the other hand, crypto exchange Koinex had recorded 265 million in trading volume in a single day in December last year, but it has now dropped to just 1 million to 2 million a day. Youll also need to pay an 18 igst (Integrated Goods Services Tax) on the transaction fee. The Bitbns team has also pioneered the innovative P2P model for exchange cryptocurrencies and INR despite difficult times in the Indian crypto scene. Advocate Vaibhav Parikh says bitcoins are legal in the country.
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You need to be smart because the platform requires your presence of mind to make the most out. Unocoin also offers a wallet, but we dont recommend using hot wallets, so youll need to move your e-monies to somewhere more secure sooner rather than later (more on that later). While the concept is new, some retailers have realized the advantages of accepting the currency. This is where things have changed in recent times. It is founded by an experienced team which is continually innovating with a mission to involve every Indian in the blockchain revolution.