Buying Bitcoin and Altcoins in India
Ever since the Rupee currency crisis started in 2016, more Indians want to store their wealth and earnings in Bitcoin, Ethereum, alt-coins or any other national currency. When banks close ATM’s to cut costs, the Rupee is being devalued daily by the rest of the world and elections are plagued with cash-for-votes scandals it’s time to use crypto currency.
In April of 2018, the Reserve Bank of India has barred banks and financial institutions in India from transferring Indians money to crypto currency exchanges, so buying bitcoin and altcoins in India is becoming increasingly difficult. Lying to Indians about the Rupee’s value ever increasing will start to become more difficult for Indian banks as well.
Best Ways to Buy Bitcoin with Rupees in India
The bitcoin meetup group in Banglore appears to have a lot of bitcoin enthusiasts, many of whom, could probably sell bitcoin without the bank of India knowing about it. There are also the blockchain groups and private bitcoin group in Dehli and many others around the country for people to connect with sellers.
Available worldwide, Paxful allows buyers of bitcoin to use any gift card to purchase crypto. From Amazon, Itunes, Prepaid credit cards to Western Union transfers, the peer to peer exchange is always selling bitcoin.
Coinmama allows anyone around the world to buy up to $150 (₹10,100 Rupees) worth of Bitcoin with a credit card. No identification is required to upload if you are buying $150 or less at Coinmama. Customers WILL need a bitcoin wallet to have bitcoins sent to when purchasing them from Coinmama. They are just a seller of bitcoin, not an online wallet for storing crypto currency.
Bitcoin ATM in India
Anyone in Delhi can buy Bitcoin and Ethereum coins at 3M Car Care with their Bitcoin ATM. The ATM will not buy Bitcoin and fee’s are expected to be above the average of 7.5% on the Lamassu ATM. These are known to require the owner to turn on the identification requirement to buy bitcoin, they are shipped with that setting turned off.
Top Exchanges to buy Ethereum and Alt-Coins in India
Available to anyone who owns bitcoin (or any crypto currency) currently, trading your altcoins for any crypto currency they offer is almost instantaneous and anonymous. While the fee’s are a bit high, it is 100% anonymous and trades take a few minutes for most altcoins.
Decentralized crypto currency exchanges are expected to become the standard for bitcoin and altcoin trading. Bisq is one of the first to launch accepting major banks and credit cards around the world for anonymous crypto currency purchases to people anywhere in the world.
Anonymous Crypto Currency Exchanges
All of the anonymous exchanges are open (and changing constantly) for crypto enthusiasts worldwide. The largest “trading” platform for anonymous bitcoin to altcoin trading currently in India is still Binance.
Transfer less than 2 bitcoin to your binance account and trade bitcoin and altcoins whenever you want. Transferring altcoins to and from a hardware wallet is simple and quick without the KYC process many trading platforms require.
Online Gambling in India
Note: We follow the India crypto currency changes because many Indians that enjoy online gambling are now using bitcoin and altcoins due to the difficulty depositing and withdrawing Rupee’s. For more information on that check the India Gambling Guide for the top sites Indians are playing poker, casino, sports betting. Unfortunately, we’ve only found 3 card rummy, no Paplu for bitcoin yet.