How To Buy Bitcoin In India Legally After RBI BAN

So have you been planning to buy bitcoin in India Legally. Here i am going to share how to buy Bitcoin in India Legally After RBI Ban.

Well, today is an excellent day for you. In this detailed guide, you will learn how to buy your Bitcoin. For this guide, we're purchasing Bitcoin in the popular Indian Bitcoin buying & selling site"Unocoin".

If you would like to get Bitcoin In India using money, you need to use Localbitcoins that's a P2p marketplace. I'll be doing a guide on Localbitcoins in days that are coming.

If you wish to know about all the popular Bitcoin websites such as exchanges in India, read this thorough post.

In India, Unocoin is among the most popular website to buy & sell Bitcoins. It friendly since the interface is & they have an Android program & an iOS.

Before buying bitcoin in India First you should know these things:

• Bitcoin is legal in India. However, it’s not regulated by RBI.
• On December 24, 2013, RBI issued a press release on virtual currencies (like Bitcoins, Litecoins, Etherium, Dogecoins, etc.) stating that creation, trade, and usage of virtual currencies as a medium for payment is not authorized by any central bank or monetary authority.
• Unocoin is a legal website to buy & sell Bitcoin.

Overall, the legal status in India of Bitcoin isn't too positive. India's finance minister has said that the government doesn't recognize Bitcoin as a currency while not formally prohibited. Banks are currently closing to be involved with Bitcoin accounts that are suspected. The bottom line: While it is possible to purchase and hold Bitcoins in India, you're risking your bank account's closing. It would be tough use or to trade them.
Here are top platform where you can buy bitcoin in India legally after RBI Ban.

Legal Bitcoin buying selling platform in India:

• Unocoin

The Bitcoin market in India, Unocoin was established in 2013 and enables users to purchase Bitcoin with any bank accounts. Backed by investors in america, Unocoin is a controlled firm in India and provides low 1 percent fees that fall to 0.7percent with greater trading volumes. It does require ID verification, although it is an Bitcoin exchange to use.

• Koinex

Koinex is an assets trading platform. The platform enables you to purchase BTC, in addition to additional crypto currency, with Indian Ruppes (INR). Among the unique features of Koinex is that after finishing the KYC, you're given a deposit bank accounts to which you link your bank account. You can fund and draw from this account. You can buy bitcoin in india legally from here.

• Coinmama

It is offered in a number of countries, although coinmama might be located in Israel. It was established in 2013, and convenience is offered by it: you can purchase Bitcoin using a charge or debit card. The drawback is that the fees are on the high side at 5.5percent per trade and 5% per debit or credit card transaction.

• Koinex

Koinex is an assets trading platform. The platform enables you to purchase BTC, in addition to additional cryptocurrency, with Indian Ruppes (INR). Among the unique features of Koinex is that after finishing the KYC, you're given a deposit bank accounts to which you join your bank account. You can fund and draw from this account.

• CEX.IO

CEX.IO is available in many countries around the world. Launched in London with its headquarters in 2013, this market enables users to buy and sell a choice in addition to Bitcoin . Both credit cards and bank transfers are accepted payment methods using low prices of 0 percent --0.2% on transactions. CEX.IO provides both a trading platform and a broker service, both entail various fees.

• How to Do Trade in Bitcoin:

Then the trades, instead of the brokers, may be where you need to be, if you are interested in becoming involved in trading crypto currencies.

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You'll probably be able to find better deals by selling to users rather, although you'll find brokers eager to purchase bitcoin from you.


A exchange that allows you perform than trade today value and set limit orders may be worth investigating as bitcoin with an advantage.

• Final Words (How Bitcoin Works):

As any other currency, bitcoin functions the same for users. Exactly like making a move for an international trade or using your credit card, using a bitcoin exchange permits you to send a currency digitally that is particular . Bitcoin.com provides each user a virtual wallet to save, send and receive bitcoin.

The bitcoin network operates by utilizing a public ledger known as the blockchain. This ledger includes all transactions and can be used to look at the validity of a transaction by using digital signatures.


The value of bitcoin is based with the value depending on the amount of individuals using the amount of bitcoin and bitcoin in flow. Tiny events, transactions or business activities can also affect bitcoin's value.

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