Bitcoin has reached new heights, and selling them might be a bit difficult now. There are various ways to buy or sell cryptocurrencies, you need to tread carefully when you plan to buy or sell Bitcoin and see whether it would be lucrative or not. You can use various cryptocurrency exchanges to buy or sell cryptocurrency in India; bitcoins are almost available in every exchange if you want to buy or sell them. Today, the current price of a Bitcoin is trading at $58,623.05 with a market capitalization of $1,092,303,130,056. As the value of Bitcoin is increasing day by day, now several investors or users are investing or trading in Bitcoin. Suppose you are also planning to invest or trade in Bitcoin. In that case, the Bitcoin Code platform is the automated trading platform that is described as a reliable & popular auto trading robot, which is used for trading Bitcoin and other cryptocurrencies. To know more about Bitcoin Code, you can read their reviews. If you are planning to trade Bitcoin in India, here are specific points you need to take care of.
Buying Bitcoin in India
Many people are investing in cryptocurrencies now and you need to take care of few regulatory concerns especially in India. Despite the rules laid by RBI, it is possible if you want to buy or sell bitcoins in India. First, you should understand how to buy or sell Bitcoin, if you want to proceed with the process. We have outlined a few ways if you want to spend, buy, or sell bitcoins in India.
- Cryptocurrency exchange
You can use cryptocurrency exchanges which is one of the convenient ways for buying and selling Bitcoin; due to the restrictions imposed by RBI, you cannot proceed with funding in the crypto exchange using Indian banks. Few leading Indian Bitcoin exchanges are WazirX, Bitbns, Koinex, and Unocoin.
- Peer-to-peer Platforms
Few users are not satisfied with the security and anonymity offered by the cryptocurrency exchange, although it has its convenience. Bitcoin trading is very famous in peer-to-peer trading platforms as they offer more privacy and freedom to their users.
- Local Dealer
One of the other ways where you can buy bitcoins is to find a local dealer on websites like localbitcoins.com; you can buy from them with a credit card, cash, Paypal, etc.
- By buying/selling goods or services
In case if you don’t want to buy or sell bitcoins through the above methods, you can use your bitcoins as a payment for goods and services. However, you cannot spend your bitcoins just like that; you need to do your research on the websites and find out where they take Bitcoin for the services.
If you are planning to buy Bitcoin using cash, it can be done by visiting a Bitcoin ATM. However, you should know there are no Bitcoin ATMs in India for this purpose.
How Can You Sell Bitcoin in India and Other Regions?
To purchase Bitcoin in India is very easy than selling it. You need to first check whether you want to sell Bitcoin for cash, or on OTC desks or how to sell instantly, etc. Let us find out some of the methods to sell Bitcoin in India.
One of the best methods to sell Bitcoin is through an exchange; although it has its few drawbacks. They serve as intermediaries where they keep a hold on the funds of both buyer and the seller, and accept sell or buy orders. Simply put, they act as storage and take care of your capital until the customer meets your demands.
- Selling Directly
If you want to sell your bitcoins without fees, selling them in person might be a good option. If you want to sell Bitcoin instantly, you can directly sell it to the people which is the easiest way.
- Direct Trading
Another way of selling your bitcoins is through direct trading; this method is a bit different from selling through exchanges because the involvement of the exchanges is restricted. The main criteria are you need to register as a seller on the websites and post your offer on those websites.
- Approaching an OTC desk
If you have more bitcoins and want to sell them the above-mentioned methods might not be effective; you can use an OTC desk, where they work on your order in parts and send your money to the bank account. This is quite a hectic process and it needs lots of patience.
Best Indian Websites to Sell Bitcoins
We have given you the latest list of some of the best Indian websites to sell your bitcoins. Let us dive into this list of websites that operate in India to have an idea about how to sell bitcoin.
One of the best platforms for any user who would like to make the most out of Bitcoin trading is LocalBitcoins. It is considered as a peer-to-peer market where the user can sell bitcoins at any price. This platform is used by technology-savvy people; also it offers an exhaustive guide that helps the users to sell Bitcoin and keep their account protected.
WazirX was launched in 2018 and it is one of the most leading and popular crypto exchanges in India. It is launched by an experienced team to help Indians in trading cryptocurrencies. WazirX helps users to sell bitcoins in India quickly and they can withdraw the funds to their bank account directly.
- Binance P2P
Binance is considered the world’s largest and popular cryptocurrency exchange. It offers a peer-to-peer option if you want to sell Bitcoin in India. The prices offered by Binance is just like other exchanges, but if you use Binance, you can sell in INR directly.
Bitbns was founded in December 2017 by graduates from IIT, crypto enthusiasts. Bitbns focuses on security, customer support, and ease of use offered to its users. It has a P2P model if you want to exchange cryptocurrencies with INR considering crypto regulations in India.
One of the most popular ways to sell bitcoins in India is through Paxful. Instead of selling your bitcoins through an exchange, you can sell them to someone directly or in person. Through this, you can offer to sell bitcoins for cash.
The methods that are outlined above can be used to buy and sell bitcoins in India, as India does not have any Bitcoin ATMs. There are other alternatives for you to buy or sell bitcoins; even though India has regulated the use of bitcoins and cryptocurrencies. Many new innovative Bitcoin trading platforms are emerging in India that are helping cryptocurrency lovers to make money when they are trading with cryptocurrencies like Bitcoin. You should do your research thoroughly before you plan to buy or sell them.