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bowsetter · 5 years

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These Indian Crypto Exchanges Share What Sets Their P2P Platforms Apart

Many cryptocurrency exchanges in India offer some kind of peer-to-peer (P2P) trading. News.Bitcoin.com talked to several of them to find out what is unique about each platform, most of which were launched in response to the banking restriction imposed by the country’s central bank.

Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request

P2P With Tether

A number of Indian crypto exchanges launched exchange-escrowed P2P trading following the banking restriction imposed by the Reserve Bank of India (RBI) which went into effect in July last year. Some of them use dollar-pegged stablecoin tether (USDT) as an extra step between rupees and buying or selling other cryptocurrencies on their P2P platforms.

Wazirx has a P2P platform that allows users to convert their INR to USDT in order to trade against any of the 42 coins listed on its main exchange. CEO Nischal Shetty described to news.Bitcoin.com that “Unlike other P2P where [the] user has to decide which buyer or seller to connect with, Wazirx P2P automatically matches with the right peers based on order volume and price.” For users wanting to trade with a particular person, however, he noted that his exchange also has “a unique XID feature that lets you conduct P2P with a specific person if needed.”

Bitbns is another Indian exchange that utilizes USDT. A representative of the exchange only has this to say: “You can trade 65 coins on Bitbns. You can deposit and withdraw quickly using USDT method.”

More P2P Options

Many Indian crypto exchanges opt not to use tether as a stepping stone for their exchange-escrowed P2P platforms.

Dcx Insta by Coindcx exchange is a P2P platform that “allows users to buy and sell 160 cryptocurrencies instantly … directly with INR,” CEO Sumit Gupta told news.Bitcoin.com, emphasizing that “orders are executed near instantly.” The exchange lets users buy cryptocurrencies for as low as 10 rupees (~$0.14) in addition to buying “stablecoins worth INR 2,00,000 (=$2,894) instantly without having to wait for the order book,” Gupta remarked. His main exchange also offers “spot markets, margin trading and lending platform with the same wallets.”

Instashift offers P2P exchange for 130 coins and a long list of fiat currencies including the rupee. The exchange claims that trades between customers are often matched and executed in “under 2 seconds” if the conditions are right. Marketing officer Jacob Mani told news.bitcoin.com that his company “operates a mixed order book; which means that if a seller is selling BTC and the buyer is buying XRP or any of the 130 coins we support, we still match them and they can trade with each other and still get to buy/sell the coin of their choice.”

Meanwhile, Giottus has a P2P exchange where “every P2P order is assigned to a customer support executive” who assists users, coordinates with buyers and sellers, and resolves any disputes, CEO Vikram Subburaj explained to news.Bitcoin.com. “Even after a seller gives confirmation that he has received INR funds … we call the seller and do a double confirmation before releasing the coins to [the] buyer (Since P2P is new to many customers, we introduced this process to ensure that sellers do not lose their funds if they had pressed the confirmation button by mistake).” The CEO added that his exchange “offers a guarantee of up to 1 BTC in P2P in case anything goes wrong and [the] customer loses his funds even after following all the P2P guidelines.”

Crypto exchange Buyucoin, founded in 2016, has a similar platform. CEO Shivam Thakral shared with news.Bitcoin.com that his P2P system “enables users to withdraw their funds by algorithmically matching them with depositors who want to deposit and we act as [a] middle watcher so that the transaction goes smoothly.” Buyers and sellers “both create requests and using our several algorithms they get matched,” he reiterated.

P2P OTC Exchanges

There are also many online exchanges that offer P2P trading for INR, listing offers on local boards without automatically matching buyers with sellers. Known as over-the-counter (OTC) trading, these services allow local traders to find and trade with each other directly, as has been the case with Finnish platform Localbitcoins since it began service globally in 2012. Users looking to sell their BTC list the payment methods they accept next to their offers.

Although Localbitcoins has the most INR listings, with 351 BTC traded in the week ending March 30, New York-based Paxful also shows some decent INR trading volume for BTC, with 29 coins changing hands during the same time period. Indian exchange Koinex‘s P2P network offers a similar listing format but supports four cryptocurrencies.

Bisq, a truly decentralized P2P application, is another place that offers OTC crypto trading for INR. The open-source app with a built-in TOR network node must be downloaded and run on users’ desktops before any trades can be seen. There are very few INR listings on Bisq at press time. However, what Bisq lacks in liquidity, it makes up for in extreme privacy and censorship resistance.

Requests were sent to several other Indian crypto exchanges with P2P platforms but their responses were not received at press time.

Which P2P crypto trading platforms do you like? Let us know in the comments section below.

Disclaimer: This list is not all-inclusive. Bitcoin.com does not endorse or support claims made by any parties in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither Bitcoin.com nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock and Coin.dance.

Need to calculate your bitcoin holdings? Check our tools section.

The post These Indian Crypto Exchanges Share What Sets Their P2P Platforms Apart appeared first on Bitcoin News.

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akankshasmishra · 3 years

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A Complete Guide To Buy Bitcoins in India

Bitcoin is among the top Cryptocurrencies for investment. A guide to buy bitcoin helps investors in many ways. It has an impressive record of giving high returns. This cryptocurrency comes with fantastic blockchain technology. In this technology, the digital ledger is shown as a chain of blocks. It helps to record transaction information very safely. This advanced technology makes Bitcoin more safe and secure.

Bitcoin has the highest volume of transactions among all Cryptocurrencies. Almost every crypto exchange offers trading and investment in Bitcoin. A considerable number of the transaction are recorded vie Bitcoin every day. This global cryptocurrency is accepted as a payment method. Many international companies, including Microsoft, allows Bitcoin for payments.

Steps To Open A Bitcoin Trading Account

Bitcoin trading account is the primary way of investing in Bitcoin. Every investor must have a Bitcoin trading account for trading or invest in Bitcoin. There are various platforms for opening a Bitcoin trading account. You have to compare and choose your most preferred trading platform for opening an account. The steps for opening a Bitcoin trading account are mentioned below.

i. Sign up: sign up is the primary step for building a Bitcoin trading account. You can find a signup option in the front interface. You can start your account both by the website or an installed application.

ii. Details filling: Filling the details is a mandatory procedure. You have to fill in your details for opening a Bitcoin trading account. It requires an email address. You have to give a strong password for opening the account. Your given password must contain capital, small letters. A strong password will help you in getting is prior security.

iii. Email verification: This step will verify your email address. An OTP is received to your email for confirmation. Copy that OTP and paste it into the application or website. This step will help in verifying that the email mentioned above belongs to you.

iv. Security setup: It is a crucial step for better security. In this step, you have to allow several security features. Mainly two types of security features are offered by the app. Authenticator app is the primary permission found primarily on every platform. Security on mobile SMS is the second security feature.

You have to allow these security features for a better experience. These security features are highly safe. It protects your account from hackers.

v. Country selection: This is a significant feature given by several platforms. An international crypto-exchange provides this feature. You can find a long list of countries. You have to choose your country from that list.

vi. KYC: After country selection, the KYC option will be shown. You can start your trading account both by doing KYC or skipping this step. You will be enriched will several more features in KYC mode than without KYC mode.

If you opt for KYC, you can enjoy services like Deposit, Trade, Withdraw, P2P. Although you can get only deposit and trade features if you are opening an account without KYC.

vii. Details filling in KYC: If you opted for an account with KYC, you must fill in some details. A list will come on your screen. You have to fill in the details in the given boxes. The full name as appearing has to be filled according to the KYC documents. You have to fill in your accurate date of birth. The date should be taken from any vital record.

Your full address has to be filled in. This address should match the address given in the KYC documents. A scanned copy of your KYC documents will be required. You have to upload this scanned copy to the website. You have to upload your selfie to complete this process.

Steps To Buy Bitcoin In India

Buying a Bitcoin is a simple process. You must have a trading account for Bitcoin purchases. There are two significant ways steps for purchasing Bitcoin. These steps are mentioned below.

1) Money Transfer to a Trading Account

You must have Bitcoin before you start trading it. You can quickly transfer a currency into Bitcoin via a trading platform. You can convert the currency of your country or any currency and enjoy a reasonable exchange rate. You have to deposit that currency in your account for conversation. Using that money, you can choose Bitcoin and purchase it.

You can use various methods for depositing money. Every platform offers a wide variety of depositing options. The excellent choices in this process are IMPS, UPI, RTGS, and NEFT.

The money deposit must be on limits. Every platform offers a minimum deposit amount. You have to meet that amount on minimum essential for depositing. Majorly ₹100 is the lowest amount provided for depositing.

You have to open the website and click on the deposit/ fund option. Afterward, you have to choose to deposit currency. Your account should be linked with your trading account. It will help in the easy and safe transaction.

2) Purchase of Bitcoins from Bitcoin Exchange

Your account will be credited with money from the previous step. This step will help in exchanging that currency into Bitcoin. In this step, you have to log in to your account. Thereafter, you have to go to the exchange and select your deposited currency. You can deposit currency like INR, YEN, USD, and many more.

Now, you will see an interface. This interface contains a spot marketplace for all Cryptocurrencies. You can see the Cryptocurrencies which you can buy from your deposited currency. You have to select Bitcoins/INR pair. Bitcoin is named as BTC on all platforms.

Thereafter, you can see the price chart. This chat contains the order book details and the order entries. This interface includes the option of buy and sell. You have to choose to buy and enter amount details and place an order. After placing the order, your account will be debited by currency, and Bitcoin will be credited.

Where To Store Your Bitcoins?

After purchasing Bitcoins, you have to store them safely. It can be quickly and safely stored in a Bitcoin wallet. Bitcoin wallet is a safe platform used for storing Bitcoin in a highly secure way. Trading exchanges are not much confident. You have to face is a high risk of hacking if you leave your Bitcoins in the crypto exchange.

You can find many advanced security options and user-friendly interfaces in these wallets. You can choose over numerous Bitcoin wallets for storing Bitcoins. The list of top Bitcoin wallets in India is mentioned below.

Best Bitcoin Wallet In India

India is among the top crypto markets. You can find a large number of Bitcoin wallets in India. A list of top Bitcoin wallets is mentioned below.

1. WazirX

WazirX is among the top Bitcoin wallet in India. It is capable of storing multiple cryptocurrencies. This wallet can be operated by web and mobile. It has an easy and user-friendly interface. This interface will help you in getting good accessibility over the app.

It is among the most secure wallet. This wallet is equipped with several security features. These features make this app challenging to hack for hackers. It offers the fantastic quality of double authorization. You can store multiple Bitcoin at a time in this Bitcoin wallet.

Top features offered:

It can be operated on web and mobile

Easy trade on WazirX exchange

Capable of storing 70+ crypto coins at a time.

2. Ledger Nano X

Ledger Nano X is a hardware-based Bitcoin wallet. This wallet is equipped with many security features. You can stores Bitcoin on an offline mode via this wallet. It helps in reducing the threat of cybercrime. It is a USB-type structure that is capable of storing multiple Bitcoins at a time.

It offers highly advanced custom OS and security chips. These chips help enhance overall security. It is comparable with all major operating systems. Ledger Nano X can self update itself and become comparable with any updates on the operating system.

Top features offered:

Lightweight and easy to carry

Capable of storing 24 Bitcoin at a time

Custom OS and security chip

3. Binance

Binance is counted among the most popular Bitcoin wallet. It offers accessibility on multiple platforms. You can operate it by smartphone, web-based system, or hardware. This wallet comes with a user-friendly interface. You can experience better accessibility over this wallet via its interface.

Binance is capable of storing multiple Bitcoin at s time. This wallet is equipped with various security features. It offers high security to your Bitcoin vie this security tools. Binance record a huge transection volume both in number and value. It has a huge user base; this user base makes it rank top among the crypto wallets in India.

Top features offered:

Comparable with every computing device.

Easy to use interface

High-security features

Ways To Invest In Bitcoin

There are three primary ways to invest in Bitcoin. The ways are briefly mentioned below.

Cryptocurrency Exchange

A cryptocurrency exchange is the easiest way for investing in Bitcoin. This exchange is very much similar to the stock exchange. You can buy or sell various Cryptocurrencies, including Bitcoin, in this exchange. It offers a smooth and easy buying and selling experience to the users.

You must have a crypto exchange account for investment in Bitcoin via this method. You have to follow few simple steps for buying or selling Bitcoin. You can buy Bitcoin with any currency like INR, YEN, USD, and many more. These are mentioned above in detail. You have to pay transaction fees in this exchange. This fee depends on the value of the transaction.

Person to Person Transaction:

It is one of the significant ways of investing in Bitcoin. It helps in saving you the transection fees. Purchasing Bitcoin vie p2p method does not require paying any transaction fees. Several platforms offer these transactions. These platforms act as a mediator between person to person.

You can search for a Bitcoin seller in this method. The platform offers a lot of sellers and buyers of Bitcoin. You can choose among them and execute the transaction. Different platforms have different kinds of policies. Several platforms restrict holding the Bitcoin until the transaction finishes. Top platforms for the people-to-people transaction are mentioned below.

Paxful

Binance

Bitcoin Mining:

Bitcoin mining is a process where you can get Bitcoin without spending actual money. However, you have to spend much on the equipment required in this process. It is among the most complex procedure to get Bitcoin. In this process, you will be rewarded with Bitcoin for every successful Addition of block. These blocks are added to the blockchain.

You must have passed Bitcoin transactions for mining Bitcoin. This transaction file must consist of 1MB. Afterward, you have to solve a complex mathematical problem. These steps will help you in getting a Bitcoin as a reward. This operation can only be done on an ASIC computer. These computers are dedicated to Bitcoin. It requires a tremendous amount of electricity for mining.

Best Online Bitcoin Trading Platform In India

There are several popular Bitcoin trading platforms in India. These platforms offer a variety of features. Some of the top Bitcoin trading platforms are mentioned below.

CoinDCX

CoinDCX is an Indian Bitcoin trading platform. It is among the top crypto exchanges in India. This platform offers trading facilities in over 200 Cryptocurrency, including Bitcoin. This platform provides high liquidity to its users. It is equipped with various security features. These security features make it rank top among the most secure Bitcoin wallet.

This platform is enriched with an easy-to-use interface. This user-friendly interface is very advanced and contains several features. CoinDCX charges a meager transaction fee. You can trade from INR to BTC via this platform.

Top features offered:

User-friendly interface

Low trading fees

Highly secure

Coin Switch

Coin switch is a multinational platform use for Bitcoin trading. This platform is among the fastest-growing crypto exchanges. It records a massive volume trade from India. This platform comes with several security features like double authorization. Coin Switch operates in more than 300 cryptocurrencies, including Bitcoin.

It offers a user-friendly interface. This interface will help you in getting easy access to your Bitcoins. The coin switch provides a low transection rate. This feature makes it superior to other crypto trading platforms. This platform offers a 24/7 helpline service to its users.

Top features offered:

24/7 customer support

Easy to operate interface

Comparative market rate

Unocoin

Unocoin is among the safest place for Bitcoin trading. This platform is equipped with various safety tools. You can see an easy-to-use interface. This interface is simple yet contains a lot of features. This platform offers fast service. You can trade in huge quantities via this platform.

It offers an option to trade in bulk. It accepts INR as a payment method for Bitcoin. You can experience smooth buying and selling Vie this platform. It offers features like OTC and SIP to its customers. It records a high volume trade in India. It is among the top-rated platforms for Bitcoin trading in India.

Top features offered:

Over the counter feature

Systematic Investment plan

Highly secure

Things To Know Before Investing In Bitcoin

1. This Sector Requires Patience

Bitcoin is a very risky Cryptocurrency. It receives a considerable price fluctuation every day. You should have a good understanding of its price fluctuations. Bitcoin is known for its long-term return. You must have the patience to hold. The more you keep this cryptocurrency, the chances to profit get higher. It must behold for a medium to long period.

Although you must have eyes on price fluctuations, it requires a deep analysis of the price graph for better profit. You must have a greater understanding either you will end up with nothing.

2. Start With Small Amount

Bitcoin records high price fluctuations. It is among the highest-priced cryptocurrency. Many can’t hold a single Bitcoin. Several crypto exchanges offer the least amount to purchase a certain percentage of Bitcoin.

Investing in a small amount at the initial stages will help you to save from buglosses. By low investment, you get a chance to invest in Bitcoin and built a better understanding of the market. You should support higher after having a proper market understanding.

3. Own a Wallet

Owning a wallet is a very crucial thing. Bitcoin is very much safe and secure in the wallet. Never make the mistake of leaving the Bitcoin on an exchange account. An exchange account is the least secure place to store Bitcoin. It has a higher possibility of a cyber hack. If you leave your crypto coins on an exchange account, you are highly likely to lose them.

4. You Must Have Risk-taking Abilities

Investing in Bitcoin is a hazardous investment. This investment contains numerous risks like a price drop, cyber hack, etc. You must measure your capacity to take the risk. If you are fond of risk, this sector is for you. Although if you don’t want to bear much trouble, you can invest in the least amount.

This market pays back to aggressive investors with risk-taking capabilities. If you are a quick investor, you can take the risk of a 50% downfall in price. Whereas for nonaggressive investors, a collapse of 20% can be brought as a limit.

Frequently Asked Questions

Several questions arise in mind related to this topic. Some of the most asked questions relating to an investment in Bitcoin are mentioned below.

1. How do Bitcoin works?

A simple answer to this question is blockchain. Every Cryptocurrency, including Bitcoin, works on a technology known as the blockchain. These virtual currencies are similar to paper currency. It can be used for doing transactions. However, it records higher price fluctuations than any paper currency. Bitcoin is formed by mining. This mining process is very complex and costlier. It requires a lot of special equipment.

2. What is meant by blockchain technology?

Blockchain is a technology used for mining Bitcoins. It is a type of immutable ledger. This technology helps in recording and tracking transactions. It adds a block in the blockchain whenever a Bitcoin is mined. It has a vast network, and no person or group has accessibility over it. The blocks in this blockchain are filled with data. It is a highly secure technology.

3. Can you use Indian currency for Bitcoin purchases?

A simple answer to this question is yes. India occupies a large share of Bitcoin holders. Several crypto exchanges are offering Bitcoin in exchange for INR. Along with Indian currency, Bitcoin can be purchased via several more paper currencies. However, you cannot pay physically. You must link your bank account with a crypto trading account. These steps enable you the option of online payment.

4. Why should anyone invest in Bitcoin?

Bitcoin is known as a future assertion. It is backed by digital currency technology. This cryptocurrency has given a tremendous return in past years. The price of Bitcoin receives high fluctuations. However, it has given more than 1000 times profit in last ten year. Some investors have made money in millions via Bitcoin. Along with that, several other features are promoting the purchase of Bitcoin.

5. What is the minimum investment for the purchase of Bitcoin?

Buying a single Bitcoin may cost you a lot. You can purchase a certain percentage of a Bitcoin. Several crypto exchanges are offering an investment of as low as ₹100. You can quickly start your Bitcoin investment journey via rs100. There is no upper limit for investment. However, these are limitations of the investment amount in a day by many crypto exchanges.

6. Can you use Bitcoin for online payment?

A simple answer to this question is yes. You can use Bitcoin for making payments. However, not every site accepts Bitcoin as a payment option. You can find many online sites that offer Bitcoin as a payment option. Several multinational companies are accepting Bitcoin as a payment method. You can easily use Bitcoin on such platforms for payment of your online purchase.

Final Verdict

Bitcoins are the top cryptocurrency. Trading in Bitcoin can enrich you with a decent profit. You can start your Bitcoin trading vie following the few steps mentioned above. Investing in Bitcoin contains a high-risk factor. You must have the capability to bear a loss if you are planning to enter this sector.

There are several platforms to store and trade Bitcoins. These platforms are highly secure and offer a smooth trading experience. You must have a brief idea about Bitcoins before investing in them. Start your investing vie small amount.

source https://invested.in/guide-to-buy-bitcoins-in-india/

source https://investedindia.wordpress.com/2021/09/10/a-complete-guide-to-buy-bitcoins-in-india/

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parihz15 · 4 years

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USD To INR Xoom

Use the btc to dollar to find out how much your Bitcoin is worth in any of the supported global currencies, using accurate and up-to-date exchange rates. Get real-time and historical trends in the value of BTC for your specific currency. And You can sell XRP directly against the US dollar on an exchange that accepts XRP deposits and US dollar withdrawals, or you can exchange XRP for another cryptocurrency first and then exchange that currency for the US dollar on an exchange that accepts withdrawals in US dollars. The latter option allows you more exchanges to choose from, but it also includes more steps. Markets Insider Currency Calculator offers converting currencies from Ripple to USD in seconds. Vacationers in Krypto can transform all group activities. Currency Calculator provides an ideal tool for investors who invest in international exchanges in different currencies. Ripple can be converted into US dollars at real rates as well as at historical rates. To do this, select the desired exchange rate date. Today’s date is set by default. The currency calculator also displays the previous day’s closing price, as well as the highest and lowest Ripple-US Dollar conversion rates. Results are displayed in a clearly structured schedule. In addition to the Ripple-US Dollar exchange rate, the Markets Insider Currency Calculator also offers other exchange rates for around 160 international currencies. BTC for cash How to withdraw money from western union is a digital asset and currency exchange platform where you can quickly and securely trade Bitcoin, Ethereum, EOS, Tether, and many other cryptocurrencies. There are several trading options, including the spot and OTC markets. The interface of the platform is very intuitive and easy to navigate. In general, buying Bitcoins with cash offers more privacy and anonymity than central cryptocurrency exchanges, but you also need to be more careful about bad actors and deception. Before meeting a seller, always analyze their reviews and comments from past customers. There are different ways to buy BTC in the US, and they all depend on your preferred method and method of payment. You can buy bitcoins with cash, bank transfer, or credit / debit card using your smartphone, computer, local cryptocurrency ATM, etc. In short, the methods of acquisition of BTC can be classified in the following ways: Centralized cryptocurrency exchanges Peer-to-peer exchange (P2P) services. Bitcoin ATMs. Head-to-head trade. Cash application.

This how to calculate bitcoin exchange rate is overloaded on cell phones as apps are generally disabled. This provides great security against malware, although cell phones are difficult to capture or lose. Breaking up your mobile phone and carrying your wallet can reduce this risk. This wallet is open source and conclusively manufactured. This means that any designer on this planet can check the code and make sure the latest software doesn’t hide any mysteries. This site green kiosks located in supermarkets and retail stores across the country. All you have to do is empty the change in the device. Once you do, the kiosk will complete the hard work by sorting, counting, and displaying the total value of your coins. gives you all the power over your Bitcoins. This means that no stranger can freeze or lose your money. Whatever the case, you are still responsible for securing your wallet and your care. In the event that you use a paper or paper wallet to store Bitcoins safely, it will do just fine! The built-in Create BTC Wallet app on your device is still valuable. When you buy bitcoins, it is best in all cases to remove them from the exchange and keep them in your own wallet. This way, in the event that you do not have access to your team’s wallet, in any case you can send coins to the Android mobile application of your BTC wallet before entering your workstation and sending bitcoins to others.

#bitcoin cashout #btc #btc to usd #digital currency #online btc converter

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rahulkohali79 · 4 years

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Best‌ ‌Exchanges‌ ‌to‌ ‌Buy‌ ‌Ethereum‌ ‌(ETH)‌ ‌In‌ ‌India‌ ‌

Ethereum is a blockchain-based computing platform that enables developers to build and deploy decentralized applications (Dapps)—meaning the ones not run by any centralized authority. You can create a Dapp for which the users of that particular application are the decision-making authority.

ETHEREUM FEATURES:

Ether: Ether is Ethereum’s cryptocurrency.

Smart contracts: Ethereum allows the development and deployment of smart contracts.

Ethereum Virtual Machine: ETH provides the underlying technology—the architecture and the software—which allows you to understand smart contracts and allows you to interact with the same.

Decentralized applications (Dapps): ETH allows you to create consolidated applications, called decentralized applications also known as a Dapp (also spelt DAPP, App, or DApp) for short.

Decentralized autonomous organizations (DAOs): This crypto allows you to create DAOs for democratic decision-making.

ETHEREUM USES:

Can be used as a payment tool

A token issuance platforms

The Trustworthy Platform For Stablecoins

Can be used as Multi-Sig For Company Operations

ETH As The Biggest DApp Ecosystem

BEST EXCHANGES TO BUY ETHEREUM IN INDIA

After the Supreme Court ruling which lifted the banking ban on cryptocurrency, many cryptocurrency exchanges emerged. India also witnessed a surge in investment from traders and buyers who wanted to try their luck in the cryptocurrency market. This spread not only brought a number of international cryptocurrency exchanges to the home country but also led to the development of multiple local cryptocurrency exchanges and trade markets to cater to Indians.

A cryptocurrency exchange is a trading platform that allows the user to buy, sell, or trade cryptocurrencies. The cryptocurrency exchanges mostly support the top cryptocurrencies, as mentioned in Coinmarketcap. There are many exchanges, in some, people are looking for the security of their crypto holdings in other cryptocurrency exchange rates, the users can reach out to the exchanges that offer great functionality, are user-friendly, and secured.

Below are few exchanges which are trusted, prominent, and user friendly to

buy Ethereum in India

PCEX MEMBER

PCEX Member, a crypto broker of an Estonia based cryptocurrency exchange is the leading and trusted

coin trading platform in India

. Running independently in India, Traders have a wide variety of options for cryptocurrencies like BTC, LTC, BCH, ETH, and many more.

Being the best

crypto broker in India

, PCEX Member has the lowest trading fee with a digital wallet whose custody is solely given to clients. Trading can be done through INR, USD, USDT, and C2USD. PCEX Member consists of an added layer of franchisees, master franchisees which ensures credibility for the end-user. The platform is soon going to launch its futures trading, that one means one can go for ETH Futures too!

PLATFORM FEATURES:

The franchise business model ensures high-liquidity resulting in profitable trades for all the traders and investors.

No hidden fees are charged on this exchange while buying ETH. PCEX Member-only charges a Single Fee Transaction Fee. Unlike other exchanges, there are No maker & taker charges or AMC charges.

Payments are accepted through all wallets, credit & debit cards. Also, one can convert fiat money to digital currency or vice-versa all in one place.

PCEX Member employs a five-layer security model which leaves out just 1 in a billion chances of your account being compromised

The user-friendly interface provides a super fast and convenient platform to exchange your digital assets.

Lastly, the exchange is going to launch its Android app soon which will make the Ethereum trading easy and handy.

WAZIRX

WazirX is considered as the ruler of Indian cryptocurrency as it is one of the prominent exchange platforms. WazirX platform was created in 2017, and within two years of existence, it gained huge popularity among significant investors and users. On the security front, the platform conducts regular security audits to ensure the safety of its user’s investments and keep the platform safe and secure.

WazirX is quite competitive when it comes to trade fee as compared to other exchanges. The exchange is backed by the world's largest exchange Binance

PLATFORM FEATURES:

WazirX has its coin WazirX( WRX) for trading on its platform at discounted fees.

According to Coin Market Cap, the traded Volume of the platform for 24 hours is 3 million USD.

The first real-time open order booking system was introduced by this exchange.

To provide mobile-based trading to their clients, wazirx has launched a mobile application for trading which is available at iOS as well as android phone systems.

Transactions on wazirx are faster; it could handle millions of transfers in a second

After collaboration with Binance, it offered 100+ WRX to the first 30,000 traders who signed up in wazirx

GIOTTUS

Giottus is another local crypto trading platform which is internationally recognized for its ability to handle almost 50 thousand transactions per second while guaranteeing stability even when millions of orders are placed at one time. It was created with a motive to provide zero downtime and high processing speed to its users. It works with the P2P model. For signing up, users have to go through a quick KYC process, and it’s mandatory for all their users.

Giottus displays, the updates of the Crypto industry in their exchange by collecting information from different 60,000 credible sources

They assure a maximum of 30 minutes as the transaction time during the trade.

Bitmax-a Singapore based exchange holds hands with this exchange platform.

Giottus allows you to

trade cryptos for INR

COINBASE

In the USA, Europe, Canada, UK, and India, Coinbase is the easiest way to buy cryptocurrency Ethereum with a credit card or debit card. Coinbase is the world’s largest crypto exchange and a broker. With their exchange, called Coinbase Pro clients buy and sell offers to other users on the platform and Coinbase charges a cut of the deals. The fees will amount to 3.75% and you can buy it instantly.

The easiest and fastest way to buy Ether in the USA, Europe, UK, and Canada

The signup process is fast and the website is easy to use Coinbase is one of the most trusted cryptocurrency exchanges throughout the globe.

It is the Beginner Friendly crypto platform The exchange also has an Integrated Wallet, so users need not to have an independent wallet.Coinbase has its Mobile App available on iOS and android phone

COINDCX

CoinDCX, launched in 2018, is India’s largest and safest crypto trading platform. The exchange is the most versatile exchange present in India and has a convenient and straightforward user interface that supports limitless trading on the CoinDcx exchange platform.This exchange that supports INR as Fiat currency became one of the first platforms to allow deposits and withdrawals directly from bank accounts. This means one can buy ETH can be bought and sold in INR.

CoinDCX also supports 200+ cryptocurrencies, including the important ones like Bitcoin and Ethereum and others like DASH, XRP, etc.Other than bank transfers it also accepts various payment methods like UPI and IMPS.The platform takes care of their client’s security by following a two-factor authentication method. However, user accounts have to be KYC verified.

#buycryptocurrency #cryptoexchange #cryptocurrency india

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jacobhinkley · 6 years

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P2P Exchange Options Increasing for Crypto Traders in India

Since the Reserve Bank of India (RBI), the country’s central bank, banned banks from providing services to cryptocurrency businesses, traders are increasingly trading on peer-to-peer (P2P) platforms. Local crypto exchanges have come up with a number of exchange-escrowed P2P solutions.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Localbitcoins

Trading volumes in both the Indian rupee (INR) and BTC increased on Localbitcoins between the week of April 7, when the RBI issued its circular, and the week of August 18. The INR trading volume increased 25 percent, from 68 million rupees (~US$974,561) to 85 million rupees (~$1,218,201). The number of BTC traded increased about 23 percent from 150 BTC to 184 BTC.

Earlier this month, news.Bitcoin.com reported that Indian traders have also found some other creative ways to trade cryptocurrencies amid RBI’s ban including Dabba trading via Telegram.

Exchange-Escrowed Marketplaces

The Mumbai-based Koinex is offering an exchange-escrowed P2P service called Loop for the trading of BTC, ETH, and XRP. Founder and CEO Rahul Raj explained to Inc42 that “buyers and sellers on Loop can create their own listings (like a marketplace) or explore existing listings to choose their best trades.”

He elaborated, “while it’s still early days, Loop has been very well received by the Indian trading community and we are seeing increasing traction every day,” adding:

Other key aspects of Loop include a user rating mechanism, cancellation option for sellers, listing modification, dynamic pricing, cleansing of stale listings, and a host of other features to ensure only genuine and legitimate trading on the platform.

Another crypto exchange, Coindelta, has created an exchange-escrowed P2P system called Flux. BTC, ETH, XRP, and USDT can be transferred directly between Coindelta and Flux, but other cryptocurrencies must be converted to USDT on Coindelta before sending to Flux.

Auto-Matching Orders

The Wazirx P2P system uses USDT in transactions. Sellers convert their cryptocurrencies to tether and sell them for rupees and buyers convert their rupees into tether to trade on the exchange. “Wazirx acts as an escrow account for holding the cryptos during the transaction,” the exchange described.

Orders are automatically matched by the exchange, CEO Nischal Shetty told news.Bitcoin.com:

The auto-matching open order book in P2P has never been attempted before and people love the ease.

Furthermore, Wazirx tweeted on August 25, “Wazirx has the cheapest price for crypto in India.”

Incentives for Depositing INR

Crypto exchange Bitbns also recently launched P2P transaction functionality which has been updated several times. Last week, the company announced an incentive scheme for anyone depositing INR in order to speed up order matching. The exchange explained:

We have introduced an option that allows withdrawers to tip depositors as per their wish. The tip could be anything in the denominations of 0.1 i.e 0%, 0.1%, 0.2%, 0.3%, and so on up to 1% of the transaction amount.

However, some users have complained on social media about not being able to withdraw funds. Some also said that they have been scammed on the exchange’s Telegram group by people pretending to be Bitbns’ admin.

Disclaimer: Bitcoin.com does not endorse or support claims made by any parties in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products or companies. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

What do you think of these trading options? Let us know in the comments section below.

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The post P2P Exchange Options Increasing for Crypto Traders in India appeared first on Bitcoin News.

P2P Exchange Options Increasing for Crypto Traders in India published first on https://medium.com/@smartoptions

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thegeekherald · 4 years

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Five Platforms for Cryptocurrency Trading

Cryptocurrency is gaining popularity as more people are investing in it. In India, the suspense of the Supreme Court struck down the curbs on cryptocurrency. This event has lifted an earlier Reserve Bank of India (RBI) ban on trading in virtual currencies. The digital currency exchange saw a rise when Prime Minister Narendra Modi announced a nation-wide lockdown, on March 24.

A cryptocurrency is a non-correlated asset class that doesn’t get directly impacted by adverse situations like a pandemic, or due to economic and geopolitical tensions. The decentralized nature of this currency makes those situations irrelevant to the value.

Trend in India

The RBI is yet to come out with a directive and some major banks are yet to allow cryptocurrency trades. As of now, digital wallets are providing services for crypto trading.

There are multiple exchanges available in India to kickstart cryptocurrency trading. While Bitcoin may be largely available on all platforms, not all cryptocurrencies are available on a particular exchange. Exchanges may have their limits on the minimum and maximum amount that can be invested.

Five Platforms for Cryptocurrencies Trading

BitBuddy

BitBuddy is a platform exclusive for direct Bitcoin trading. It claims to offer the best introductory offers in the market and the best values. This platform is available on both Play Store and iOS. Users can buy any volume of Bitcoins instantly. It is designed by Asachs Softwares Private Limited. Every BitBuddy customer is KYC verified. KYC and payment mode are verified before registration to have a safe and secure trading platform. BitBuddy has real-time market orders, open orders, and orders history with chat to discuss, negotiate with other Bitcoin traders.

Unocoin

Unocoin is a crypto asset and blockchain company with over a million customers. Via Unocoin, users can trade in Bitcoin using INR by matching orders with others. Customers get a special Bitcoin address to auto sell Bitcoins. Unocoin is a member of NASSCOM and has featured among the top 20 out of 350 companies in The FinTech 20: India list. Users also earn free Bitcoin referring Unocoin to friends. There is low transaction fees, consolidated wallet for crypto-holdings and live price tracker widget.

CoinSwitch Kuber

CoinSwitch is a cryptocurrency exchange aggregator platform where users can trade cryptocurrencies like Bitcoin, Ethereum, Ripple, etc. They can also buy cryptocurrencies with a credit card at an effective price. Users can access the pooled liquidity of the leading exchanges in India to get the best rate and trade instantaneously, after completing the KYC/AML procedures. Funded by Sequoia Capital, CoinSwitch started in the year 2017. It has partnered with the leading exchanges, wallet services, gaming partners, etc. CoinSwitch says it enables users to convert, trade, and track seamlessly, with utmost transparency and user-friendliness. The trading platform has processed over $5 billion in crypto.

WazirX

WazirX is a cryptocurrency exchange with a Live Open Order Book system that lets users trade digital assets, including Bitcoin, Bitcoin Cash, Litecoin, and Dash, among others. Users can deposit or withdraw cryptocurrencies and also cash in/ cash out USDT via P2P. Users can store their digital assets in their WazirX wallet. WazirX offers trading experience across all platforms – on Web, Android and iOS mobile, Windows, and Mac apps. The company assures there are advanced security features like 2FA and in-app passcode.

ZebPay

Via Zebpay, users can buy and sell Bitcoin, Ethereum, Ripple, EOS, and other cryptocurrencies. The cryptocurrency exchange app for Android offers a seamless mobile trading experience on the go, the company said. Users can also instantly buy and sell cryptos directly with Euro and Australian Dollars on the Zebpay platform and make payments across the world.

The post Five Platforms for Cryptocurrency Trading appeared first on The Geek Herald.

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myuniquetalk · 4 years

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How To Earn Free Bitcoin Mining Convert BTC to INR

Bitcoin

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bowsetter · 6 years

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P2P Markets: Russian Localbitcoins Trade Outpaces Venezuela

During the week of March 2, roughly 14,365 BTC changed hands via peer-to-peer (P2P) exchange Localbitcoins, equating to approximately $51.51 million worth of trade. Of that, 3,593 was BTC traded via the Russian markets, 83 percent more volume than was produced by Localbitcoins’ second-largest market, Venezuela.

Also Read: Turkish Real Estate Agency Sells 9 Houses for BTC

Russia, Venezuela and United States Comprise Largest Markets on Localbitcoins

Approximately 3,593 BTC were traded for Russian rubles (RUB) on Localbitcoins this past week, making it the largest P2P market by trade volume. Russian Localbitcoins trade activity during the week of March 2 equated to 918 million RUB (approximately $13.81 million).

Venezuela comprised the second largest national market on Localbitcoins during the week of March 2, producing 1,953 BTC worth of trade – the fifth strongest week on record when measured in cryptocurrency. When measured against fiat currency, Venezuelan trade produced 25.43 billion Venezuelan bolivars (approximately $7.72 million), comprising the strongest week on record.

In America, 1,807 BTC were exchanged for USD this past week, equating to $9.67 million worth of trade. As such, the U.S. comprised the third strongest P2P market of the past week, posting the strongest seven days of trade when measured in fiat currency in over one year.

Nigerian Localbitcoins Trade Exceeds 900 BTC

Roughly 903 BTC were traded for Nigerian naira (NGN) this past week, ranking Nigeria as the fourth largest market on Localbitcoins. When measured against fiat currency, 1.21 billion NGN worth of trade took place (nearly $3.32 million).

China comprised the fifth largest P2P market this past week, with 839 BTC trading for Chinese yuan (CNY), equating to 21.8 million CNY (more than $3.24 million). Chinese P2P trade just beat European Localbitcoins, with 830 BTC having been traded for euros (EUR) during the week of March 2.

When measured against fiat currency, 2.83 million EUR (roughly $3.17 million) was swapped.

Trade between the British pound (GBP) and BTC comprised the seventh largest market on Localbitcoins this past week, with 806 BTC or 2.37 million GBP ($3.1 billion) worth of trade.

Croatia and Hungary Post 1 BTC Worth of P2P Trade Each

Colombia comprised the eighth largest Localbitcoins market with 725 BTC worth of trade this past week, the third strongest week on record. When converted to fiat currency, the Colombian P2P market saw 7.9 billion Colombian pesos ($2.52 million) worth of BTC traded during the week of March 2.

Approximately 317 BTC were traded for Indian rupees (INR) this past week, ranking it as the ninth largest market on Localbitcoins. When measured against fiat currency, the week of March 2 saw 88.62 million INR (roughly $1.26 million) traded for BTC.

South Africa comprised the 10th largest P2P market, with 288 BTC or 15.76 million ZAR (approximately $1.08 million) worth of trade.

Croatia and Hungary tied to comprise the weakest performing Localbitcoins markets this past week, both producing roughly 1 BTC in trade activity apiece.

Do you expect Russia to continue to host the largest Localbitcoins market in the coming months? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Coin.dance

At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post P2P Markets: Russian Localbitcoins Trade Outpaces Venezuela appeared first on Bitcoin News.

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#cryptocurrency #cryptocurrency news #bitcoin #cryptocurrency market #crypto #blockchain #best cryptocurren

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cryptoveins · 5 years

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Binance to launch fiat-to-crypto services in India after acquisition of Mumbai-based crypto exchange

Binance, one of the world’s largest cryptocurrency exchanges by daily volume, has announced the acquisition of major Indian crypto exchange WazirX and plans to launch fiat-to-crypto services in India within days.

According to a blog post Thursday by Binance, India-based users will be able to purchase and sell crypto using Indian Rupees (INR) on Binance Fiat Gateway, the fiat-to-crypto portal of the firm’s flagship exchange, Binance.com, starting the 25th of November.

WazirX will continue operating as an independent entity after the acquisition, but its peer-to-peer (P2P) fiat-to-crypto matching engine will be added to Binance Fiat Gateway in Q1 2020, allowing users to convert INR to USDT through WazirX, and then trade on Binance’s desktop platform and mobile application, the announcement stated.

Growing the pie, one nation at a time

The move is consistent with Binance’s aggressive expansion strategy to “grow the [fiat-to-crypto] pie” and make itself the world’s entry point for new crypto users. Over the last year, Binance has appeared to allocate vast amounts of time and resources in the pursuit of this goal, launching fiat-to-crypto platforms in Uganda, Singapore, Jersey, and the U.S.

Binance has employed a creative approach to managing fiat-to-crypto regulations in some of the markets it operates in, and it would appear to be favoring the peer-to-peer method to skirt restrictions in stricter jurisdictions.

The exchange seemed to reach a new level of bravado in October with the announcement it had launched P2P trading in China, allowing the buying and selling of BTC, ETH, and USDT against the Chinese Yuan—a move that seemed to result in the suspension of Binance’s Weibo account, along with statements by AliPay and WeChat Pay that P2P payments for cryptocurrency would not be honored by the platforms (the exchange of cryptocurrency was banned in China in 2017).

Since April 2018 the Reserve Bank of India (RBI) has prohibited financial institutions from servicing businesses dealing in cryptocurrency, effectively bringing to a halt all exchange-based fiat-to-crypto operations in the country.

Given the RBI’s apparent unwillingness to soften its stance, the introduction of WazirX’s P2P fiat-to-crypto facility to Binance is likely intended as an interim solution giving the exchange access to the second-most populous market in the world. Wei Zhou, the CFO of Binance, commented:

“Building fiat-to-crypto bridges remains a key mission for Binance, and WazirX will help this by providing a simple and cohesive way to purchase cryptocurrencies in a country which is home to more than a billion people.”

The post Binance to launch fiat-to-crypto services in India after acquisition of Mumbai-based crypto exchange appeared first on CryptoSlate.

https://cryptoveins.com/binance-to-launch-fiat-to-crypto-services-in-india-after-acquisition-of-mumbai-based-crypto-exchange/

#Finance #firm #peer-to-peer #platform

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coin-news-blog · 5 years

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Paxful, The White Company Partnership Enables Users To Convert Bitcoins Into Prepaid Debit Cards

New Post has been published on https://coinmakers.tech/trading/paxful-the-white-company-partnership-enables-users-to-convert-bitcoins-into-prepaid-debit-cards

Paxful, The White Company Partnership Enables Users To Convert Bitcoins Into Prepaid Debit Cards

Image: Bitcoin, Pixabay

Peer-to-peer (P2P) bitcoin marketplace Paxful has partnered with crypto services provider The White Company to give Paxful customers the ability to cash out bitcoins into prepaid cards in multiple currencies, the companies said on Thursday.

The new partnership allows Paxful users to exchange their bitcoins into Visa or MasterCard digital prepaid cards in 10 fiat currencies including USD, GBP, EUR, INR, AUD, CAD, JPY, HKD, CNY, and BRL.

On the Paxful P2P bitcoin marketplace, users simply need to select the currency they would like to exchange their bitcoins to and The White Company will purchase these and credit the relevant amount into a prepaid debit card.

https://paxful.com/user/WhiteCompany

Paxful and The White Company said the new offering will provide a new alternative to those with limited banking options, enabling financially underserved populations, especially in Africa, Southeast Asia and South America, to spend their funds instantly online and in-store on two of the world’s most popular payment networks.

“Our partnership with Paxful will enable millions to access the digital economy through the simple and efficient technology that powers Paxful’s peer-to-peer marketplace,” said Elizabeth White, CEO and founder of The White Company. “Together we can bring all the benefits of banking without the high costs to developing countries and the unbanked, as well as promote the usability of cryptocurrency worldwide.”

Ray Youssef, CEO, and co-founder of Paxful, said from day one it has been his company’s mission to provide financial freedom and accessibility worldwide. “Many of our customers are unable to become banked. By allowing them to change bitcoin into prepaid debit cards we are giving them the chance to participate in both the current financial system and the digital economy,” Youssef said.

“This is a real-life example of the true use cases of bitcoin, allowing the unbanked to become banked through prepaid cards by the help of peer-to-peer finance.”

Founded in 2017, The White Company offers crypto solutions including stablecoins, a fiat on/off ramp, a cryptocurrency exchange, wallet, and merchant processing product.

The company’s crypto-to-prepaid debit card offering provides customers with a virtual card in seconds, which can be used for online purchases immediately. Users simply need an email address. When they register their card, they can request a physical card to be shipped to them.

The White Company claims it has exchanged over US$300 million of cryptocurrency into real-world goods and serves more than 100,000 clients across the globe.

Source: coinjournal.net

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coin-river-blog · 5 years

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Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request

P2P With Tether

More P2P Options

Many Indian crypto exchanges opt not to use tether as a stepping stone for their exchange-escrowed P2P platforms.

P2P OTC Exchanges

Requests were sent to several other Indian crypto exchanges with P2P platforms but their responses were not received at press time.

Which P2P crypto trading platforms do you like? Let us know in the comments section below.

Images courtesy of Shutterstock and Coin.dance.

Need to calculate your bitcoin holdings? Check our tools section.

Tags in this story

Banking, Bitcoin, BTC, crypto, Cryptocurrencies, Cryptocurrency, Digital Currency, Exchanges, India, Indian, INR, Local Bitcoins, OTC, p2p, Peer-to-peer, RBI, Tor, Virtual Currency, Withdrawals

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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cryptobitcointrading-whalea-blog · 6 years

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Best Ways To Convert Bitcoins To Cash [USD, EUR, INR]

Do you want to cash out your Bitcoins? Is it time to book some profit and convert your Bitcoins to traditional bills? Read on to learn the ways to cash out Bitcoin and get some real-world money. Slow but steady, everyone in the world is getting caught up in the novel idea of Bitcoin. And the most asked question continues to be – Have you invested in Bitcoin yet? And why not, considering it is better than gold and traditional fiat currency, and not to mention, it is in limited supply and is subject to various economic laws that suggests its future growth too. I have covered that aspect of Bitcoin in my previous article too: What Determines The Value Of Bitcoin? [6 Reason You Should Know] However, I would like to re-iterate in the words of first Bitcoin Evangelist – Trace Mayer . Gold is sound money and limited in supply but it doesn’t move well. The dollar moves well but is not limited in supply. Bitcoin moves well and is limited in supply which is why it has been outcompeting both since its creation in 2009. It is only natural for it to grow in its value over time, irrespective of what the pundits say, and when it bound is to increase in its value, the obvious question of realizing your profits come in. For realizing the profits one needs to sell BTC in exchange for fiat/cash as acceptable in their native countries. Hence, I think it is apt to talk about the questions that come to mind mind while selling Bitcoins for cash. How to convert Bitcoins into dollars (USD) or any other fiat? How to redeem Bitcoins for cash? How To Turn Bitcoin Into Cash? There are some easy ways to convert BTC into USD, INR, EUR or GBP, some of which are listed below. However, before you pick any of the listed methods, you need to find out how you want to receive your fiat. You can sell Bitcoins in person for cash or you can sell it on exchanges and get the money directly deposited into your bank account. You also have the option to spend your Bitcoin to buy stuff from Amazon using services llike Purse.io. However, I assume for now you want to sell your Bitcoins and get hard cash in person or directly in your bank account. 1. Via Fiat Accepting Exchanges The easiest way is to find out fiat accepting exchanges in your country. You can then sell them your Bitcoins in exchange for fiats like USD, EUR or GBP. Some of the exchanges that allow you to do so are listed below. Coinbase -USD/EUR BitMex -USD Kraken -USD/EUR Bitfinex -USD/EUR bitFlyer – USD/JPY Bitstamp -USD/EUR WazirX (India Only)- Convert BTC to INR via a P2P method or USDT Bitbns (India Only)-Convert BTC to INR via a P2P method I understand that all the above options might not work globally because the cash system varies from country to country. For such sellers, there is another option of P2P selling/buying of Bitcoins via LocalBitcoins (aka LBC). 2. Via LocalBitcoins LocalBitcoins is a Bitcoin start-up based out of Helsinki, Finland, which has been operating since 2012. It is a P2P Bitcoin exchange. It has on-ground buyers and sellers in more than 15,000 cities across 248 countries . Chances are, you will find a buyer in your country via LocalBitcoins. The beauty of Localbitcoins is that you dealing with the buyer directly and you can receive money in any of the supported formats (bank deposit, PayPal, Payoneer, cash). When it comes to converting Bitcoin into fiat, Localbitcoins is one of the most preferred choices of those who don’t want to use an exchange. You can meet buyers/sellers online and execute a trade offline. You can either pay in cash or wire the amount. You can also choose from various other options like PayPal or SEPA or direct bank deposits for converting Bitcoins into cash (USD, EUR, INR, JPY, CNY, AUD, Dinar etc) [all depending on the buyer/seller]. You can simply filter your country based on the payment mode you want to choose. Just so you know, all the fees here is set by the seller while LocalBitcoins acts as an escrow manager. Caution: Be sure to check the reputation of the buyer/seller; a higher reputation means a more trustable buyer/seller. LocalBitcoin is surely the easiest way for the resident of any country to redeem their Bitcoin for cash. Join LocalBitcoins Also, read: How To Purchase Bitcoins Using PayTM 3. Convert BTC Into USTD Like Digital Fiat If you are not in a hurry of converting your BTC into the fiat currency of your country and also want to avoid your tax liabilities for some time, you can convert Bitcoin into USDT ( Tether ). Using USDT has its benefits when compared to dealing in USD or EUR if you plan to buy Bitcoins later. Moving cash in and out of your bank account regularly makes you accountable and may add into your taxes. Also, you need not worry about the volatility of cryptocurrencies when you switch to USDT because USDT always maintains parity with actual US dollars, hence maintaining its value of $1 per USDT always. This will also reduce your headache of always transferring in fiat currencies to exchanges to buy Bitcoins because USDT can be used to buy Bitcoins later if you want. And the good thing about USDT is that unlike many fiat exchanges, USDT is supported by many exchanges across the world. Some of these exchanges are listed below. I have used this feature of intermediate conversion to USDT myself. USDT (Tether) Supported Exchanges: Bitfinex Binance KuCoin Cryptopia Bittrex Gate.io Conclusion: Converting Bitcoin Into Cash These are some popular ways of converting your Bitcoins into USD or respective fiat cash of your country. We will, very soon, be coming up with a list of country-wise options for selling and buying Bitcoins which will make your life easier when exchanging Bitcoins into cash. When you encash your Bitcoins to cash, keep in mind the taxes. If it’s a large sum, you need to pay taxes. You can use a tool like Cointracking to calculate tax on your Bitcoin selling profits. Another way to turn you Bitcoin into cash is by selling Bitcoins to your friends and family. If your reason is to take some profit and not because you don’t feel confident about the future of Bitcoin, selling Bitcoins directly to your friends and family is an ideal choice. This will also help them to get started with Bitcoin and both of you will save on the transaction (middleman) fees. However, this route is taken only by a few as we have recommended earlier that you should not disclose your Bitcoin investment and Holding to anyone . We intend to start with the following countries first and also include some third world countries like Somalia, Syria, Iraq etc. The USA India Europe Australia China Japan If you want to suggest other names that we should cover, do let us know in the comments section below. If you found this article informative, please share it with your friends and family who want to know about converting Bitcoins into cash. Here are a few other hand-picked articles for you to read next: CEX.io Review: Is This Platform Safe To Buy Bitcoin & Ether? How To Start Investing in Bitcoins – The Beginners Guide Is LocalBitcoins Safe – A Comprehensive Beginner’s Guide The post Best Ways To Convert Bitcoins To Cash [USD, EUR, INR] appeared first on CoinSutra - Bitcoin Community .

https://coinsutra.com/turn-bitcoin-into-cash/

#Bitcoin #Binance Exchange #Exchange #Fiat #Localbitcoins #Tether #USDT

#Bitcoin #Binance #Exchange #Fiat #Localbitcoins #Tether #USDT

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bowsetter · 6 years

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Indian Cryptocurrency Exchanges See Rapid Growth in P2P Trading

Trading volumes on exchange-escrowed peer-to-peer (P2P) cryptocurrency trading platforms in India are rising rapidly amid the banking ban by the country’s central bank. “Indians are warming up to P2P in amazing ways,” the CEO of a local crypto exchange told news.Bitcoin.com. Several other exchanges competing in the same space are seeing similar responses from their users.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

P2P Trading Volumes Growing Rapidly

Indian cryptocurrency exchanges that offer P2P services are experiencing rapid growth in trading volumes despite the cryptocurrency banking ban by the country’s central bank, the Reserve Bank of India (RBI).

The CEO of Indian crypto exchange Wazirx, Nischal Shetty, told news.Bitcoin.com that “In a bear market with no banking, Indians are warming up to P2P in amazing ways.” Wazirx launched its exchange-escrowed P2P service on July 10, a week before the RBI ban took effect.

India’s central bank has banned financial institutions from providing services to crypto businesses. As the country’s supreme court continues to postpone hearing the petitions against the ban, a growing number of Indian exchanges have implemented their own solutions to the banking problem such as using P2P trading and launching cryptocurrency ATMs.

Shetty shared with news.Bitcoin.com:

P2P is working great for Wazirx. It’s helping us increase our daily trading volumes as well. In fact a few days ago we hit 100 BTC in daily trading volume for the first time … we’ve crossed over $5M in P2P in the 3 months since we’ve gone live.

The exchange revealed at the end of September that its trading volumes had grown 35 percent in the past few months, consistently reaching 50 BTC in daily trading volumes during the month.

Some More P2P Offerings

The exchange-escrowed P2P option has become a popular way for traders in India to cash out their coins. Recently, crypto exchange Instashift conducted a survey of its users and found that the majority of 50 respondents prefer to cash out their cryptocurrencies using P2P services. Instashift offers the trading of over 80 cryptocurrencies. With a community of over 900 members using its P2P platform, the exchange told news.Bitcoin.com, “We are clocking approximately around 2-5 Million INR [$27,194 – $67,985] per week in India & our volumes are looking promising in Canada & Nigeria as well.”

Coindcx also allows its users to convert over 80 cryptocurrencies into the Indian rupee. Its P2P platform Dcxinsta allows users to buy cryptocurrencies “instantly with INR … in less than 60 seconds,” according to the exchange’s website. On Thursday, Coindcx announced that “INR open order book” is now live on the exchange so users can now “place limit orders for trading in INR and see a complete order book using their existing INR wallets.”

The CEO of Coindcx, Sumit Gupta, explained to news.Bitcoin.com that the “Minimum buy or sell amount for any user is Rs 10. (approx. 15 cents)” on his exchange, emphasizing that “every Indian can now invest in crypto.” He further revealed that on his P2P platform:

We’re getting a phenomenal response from users with average no. of orders being more than 10 per Dcxinsta user.

Disclaimer: Bitcoin.com does not endorse or support claims made by exchanges in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products or companies. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

What do you think of the growing popularity of P2P trading in India amid the RBI ban? Let us know in the comments section below.

Images courtesy of Shutterstock, Wazirx, Instashift, and Coindcx.

Need to calculate your bitcoin holdings? Check our tools section.

The post Indian Cryptocurrency Exchanges See Rapid Growth in P2P Trading appeared first on Bitcoin News.