India: Two Crypto Exchanges Halt Trading, Blame Discouraging Government Stance
India: Two Crypto Exchanges Halt Trading, Blame ‘Discouraging’ Government Stance Crypto exchanges BTCXIndia and ETHEXIndia will stop their crypto trading by March 1 and 5 respectively, citing the government’s stance on crypto. Crypto exchanges BTCXIndia and ETHEXIndia have informed their customers via email that they are stopping trading activities, citing the “stress” on their business caused by governmental actions discouraging crypto, local Indian news outlet the Economic Times reported yesterday, Feb. 28. BTCXIndia and ETHEXIndia’s websites both currently display a message to customers informing them that any deposits received after Jan.1 will automatically be sent back to the investor’s bank account. According to the email, BTCXIndia was opened in 2014, and the exchange then opened ETHEXIndia opened two years later. BTCXIndia customers are told they have until March 4, 2018 to withdraw their funds in either Bitcoin (BTC), Ripple (XRP), or the rupee (INR) before an annual wallet maintenance fee is applied. The exchange’s Ripple/INR trading will be halted on March 5. There is no trading data for BTCXIndia listed on CoinMarketCap . ETHEXIndia customers are told they had until Feb. 28 to withdraw their funds in rupees or Ethereum (ETH), and that trading will halt today, March 1, 2018. ETHEXIndia is currently ranked 163 in exchanges by 24 hour volume on CoinMarketCap , with a 24 hour volume of around $15,724 by press time. BTCXIndia’s email cites the Indian Finance Minister’s Feb. 1 budget speech that spoke negatively of crypto’s use in “illegitimate activities” as the reason behind their decision to halt their crypto trading. “As we heard in the budget speech, the Indian government is discouraging cryptocurrency trading. This has been cl Continue reading >>
Btc Touches 4000 Usd (2,60,000 Inr) In Indian Exchange Zebpay [1st Feb 2018]
Why Did Bitcoin Prices Drop to $4000 in India? Bitcoin prices in every cryptocurrency exchange are dependent upon the demand and supply in that region. It might be possible that this drop in the prices was caused by the fact that the Indian annual budget for the financial year 2018-19 was being announced where the Finance Minister stated that Bitcoin is not a legal tender in India. The curious thing here is that the Finance Minister Arun Jaitley has made these statements time and again, at least three times in the past two months itself. However, it is expected that most of these statements went unnoticed because an overwhelming majority of the nation does not watch daily proceedings of the parliament. However, on budget day, hundreds of millions of Indians follow the parliaments updates. Hence, Jaitleys statement had a major impact today. However - the panic likely arose from the fact that people who began to sell cryptocurrencies were not able to interpret the statement of the Finance Minister. The Finance Minister stated that Bitcoin is not a legal tender in India, which many people assumed that Bitcoin is not legal in India. This created fear and panic in the markets. However, there is a big difference between being not legal and not being a legal tender. If it was declared not legal, it would have meant that India is imposing a ban on cryptocurrencies (which many people actually assumed). However, what the Finance Minister actually meant was that Bitcoin is not a government backed currency and that the government of India is not responsible for any losses that traders might occur while dealing in it. It might be this misinterpretation of the Finance Ministers statement during the union budget that caused people to start selling their Bitcoins on Zebpay and other s Continue reading >>
Bitcoin Price Live: Btc Falls As India Plans 'to Make It Illegal As A Payment System'
Bitcoin price LIVE: BTC falls as India plans 'to make it illegal as a payment system' BITCOIN'S price sunk to a low of $7,362 as India moots plans to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in crypto assets. Lloyds bank have banned crypto transactions on its credit card Bitcoin mother of all bubbles will BURST says 'Dr Doom' Bitcoin is currently down at $7,940 on the day so far after UK high-street bank Lloyds banned all cryptocurrency payments on its credit cards. The ban extends to other household names in the banking giant's credit card family including Bank of Scotland, Halifax and MBNA. Wallet holders would have been hoping for a better start to the week but news of another mainstream finance firm being spooked by price volatility and regulatory threats means that other credit cards retailers around the world will be studying the fallout from Lloyds' ban. The Lloyds group has over eight million credit card customers and the ban stems from the fear that customers began buying cryptocurrencies to make a quick profit in the run-up to Christmas. However, with the price now significantly below the mark many UK buyers paid for their cryptocurrencies, Lloyds' customers are now servicing a debt much higher than the worth of of the digital tokens in their wallets. Lloyds is concerned about its exposure to crypto-risk as it could end up footing the bill for unpaid debts should the price continue to fall. A Lloyds spokeswoman told the BBC: "We continually review our products and procedures and this is part of that." A number of US credit card firms have also banned crypto purchases on credit cards. Bank of America began blocking cryptocurrency purchases on Friday Continue reading >>
Bitcoin Climbs To $10k But Steve Wozniak Asks, 'who Stole My Bitcoin?' | City & Business | Finance | Express.co.uk
Bitcoin lies at $10,754, after it has been jumping around the $9,000 to $10,000 most of the weekend. Major bitcoin news is the Australian man who allegedly created bitcoin is being sued for $7.2billion. Craig Wright, the man who claims to have invented bitcoin not Satoshi Nakamoto is being sued by the family of his former business partner. Mr Wright who allegedly mined bitcoin with Dave Kleiman, a programmer who passed away in 2013 apparently seized Mr Kleimans bitcoins following his death. Mr Kleimans brother, Ira does not know exactly how many bitcoin was stolen but says it is likely to be around 300,000 and 1.1million. The lawsuit said: It is unclear whether Craig, Dave, and/or both created bitcoin. It is undeniable, however, that Craig and Dave were involved in bitcoin from its inception, and that they both accumulated a vast wealth of bitcoins from 2009 through 2013. 20.48 - UPDATE - Shaky news day for bitcoin but price remains steady Bitcoin is currently priced at $10,709. Todays news regarding bitcoin has been dominated byCraig WrighttheAustralian man who allegedly created bitcoin being sued for $7.2billion. Mr Wright who allegedly mined bitcoin with Dave Kleiman, a programmer who passed away in 2013 apparently seized Mr Kleimans bitcoins following his death. Due to this MrKleiman's family is suing Mr Wright. Despite this negative news towards bitcoin, the cryptocurrency has been steady for the later part of the day, even as other major cryptocurrencies fell. 19.19 - UPDATE - Bitcoin rising but at a very slow rateAccording to CoinMarketCap, bitcoin is now valued at $10,703. This is an improvement considering it started the day on $10,267.16.29 - UPDATE - Millennials are behind the craze of bitcoinMillenials are the biggest backers of bitcoin and cryptocurrencies Continue reading >>
Bitcoin Price Drops Below $8,000: Over $60 Billion Wiped Off Cryptocurrencies
Bitcoin fell below $8,000 for the third time in four days on Monday amid a broader sell-off in cryptocurrencies that has seen over $60 billion of valued erased from the market in 24 hours. The price of bitcoin traded as low as $7,178.65 on Monday and sat below the $8,000 mark for most of the morning's trade, according to CoinDesk. It's the lowest price for bitcoin since November 16. CoinDesk's bitcoin price index tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex. On Friday, bitcoin fell below $8,000 for the first time since November 24. It then rose above $9,000 over the weekend before falling below $8,000 on Sunday. It was not only bitcoin that fell either. Other major virtual currencies, including ethereum and ripple , fell sharply in the last 24 hours. The market capitalization or value of the entire cryptocurrency market fell to around $350 billion around 11:23 a.m., ET, Monday, according to data from CoinMarketCap.com. This was a drop of around $67.7 billion in 24 hours. The digital currency world has been plagued by a string of worrying headlines. Tougher regulation has been a key factor weighing on price. On Monday, Financial News, a publication closely affiliated with the People's Bank of China, reported that the central bank will block all platforms related to cryptocurrency trading and the issuance of so-called initial coin offerings (ICOs) . Previously it had stamped out domestic cryptocurrency exchanges but it extended its crackdown to foreign platforms too. "In the future, any related (platform) will be closed as soon as it is found. At the same time, further regulatory measures will be taken with the future development of the situation," the Financial News reported. India's Finance Minister Arun Jaitley said last week th Continue reading >>
Bitcoin Price Plunges Below $6,000, Loses 65% In Just A Month
Bitcoins prices fell amid fears of regulatory crackdown JPMorgan Chase Bank told customers not to buy bitcoins via credit cards In cryptocurrency exchange Coinsecure, bitcoin fell to Rs 4.5 lakh Bitcoin prices on Tuesday briefly plunged below $6,000 before recovering to 7,243.31 at 11:45 pm against $17,150 one month ago on the Luxembourg-based cryptocurrency exchange BitStamp, declining by 65% (or nearly two-third of value). The bitcoin prices of bitcoins have plunged drastically in the past one month, chiefly because of the regulatory crackdown. On February 1, India's finance minister Arun Jaitley said the currency is not a legal tender and the government is planning a crackdown. Following this, the bitcoin price tumbled in the international market. Bitcoin Prices Lost Two ThirdValue In 1 Month. 5 things to know 1. Digital currency bitcoins fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoins by British and U.S. banks. British bank Lloyds Banking Group said on Sunday it was banning customers from using credit cards to buy bitcoins It joined U.S. banking giants JPMorgan Chase & Co and Citigroup, which announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value. 2. A few days ago, Facebook announced a ban on advertisements for binary options, initial coin offerings and cryptocurrency. 3. Union finance minister Arun Jaitley said in his annual budget speech on Thursday, "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system." 4. On BitStamp, bitco Continue reading >>
Xe: Xbt / Inr Currency Chart. Bitcoin To Indian Rupee Rates
Our currency rankings show that the most popular Bitcoin exchange rate is the XBT to USD rate. There is no official ISO currency code for Bitcoins, although XBT is commonly used. The currency symbol is Our currency rankings show that the most popular India Rupee exchange rate is the USD to INR rate. The currency code for Rupees is INR, and the currency symbol is . Continue reading >>
Bitcoin (btc) To Inr: Bitcoin Price In India | Bitcoin Price Inr
Bitcoin is an electronic money, so there are no coins or physical notes. It is decentralized: no authority and no government rules over Bitcoin, it belongs to no one. Bitcoin is exchangeable on the internet between two individuals without going through a third authority: it is peer to peer. It has no geographic limits, caps or clauses whatsoever. After reaching 2,90,829 INR on 1st September 2017, it was a huge run for Bitcoin following news alerts that China would be shutting down their crypto exchanges which led to 2,80,628 INR on 30th September 2017. Although Bitcoin Gold was launched but due to its low acceptance globally, Bitcoin started at 2,83,894 INR on October 1st 2017, whereby following market trends it has bounced back to 6,71,327 INR on 31st October 2017. Price of Bitcoin surged down to 4,55,433 INR on 1st November 2017 and steadily scaled up to reach 6,71,327 INR on 30th November 2017 as there was a commotion on the split of the Bitcoin network. Bitcoin relapses from 7,09,339 INR on 1st December 2017 which was due to disconnection of Bitcoin cash from Coinbase and it's price plunged up towards 9,47,519 INR on 31st December 2017. Bitcoin relapses from INR 900,299.60 on 1 January 2018 and its price plunged down to INR 637,142.41 on 31 January 2018. Bitcoin relapses from INR 644,042.50 on 1 February 2018 and its price rose up to INR 688,759.27 on 28 February 2018. The Bitcoin network is secured by minors who check all the transactions made on the network. Bitcoin is based on verified and secure transactions: it is a cryptocurrency. All Bitcoin network transactions are recorded and anyone can access it at any time. The source code of Bitcoin is open, anyone can consult it. At a time when more and more alternative payment services are emerging, the Bitcoin proto Continue reading >>
Why Is There A Difference In Bitcoin Prices In Inr Versus Usd?
Every exchange has different people on it with their own set of buy and sell orders which define the demand and supply and thus leading to a price change in different exchanges. Sometimes the exchanges try to manipulate a bit by keeping a big gap between buy and sell orders making it difficult for people to sell their bitcoins since they would be in loss by not having much people using their service. It is not just the case with bitcoin but every coin. In order to follow it, use Cryptocurrency Market Capitalizations | CoinMarketCap and go under market tab. You can see which exchange has what volume and what is their current price which shows a little difference in each exchange. As you might have noticed, Indian bitcoin prices are higher than international prices. I would like to clear out a few misconceptions. There is no single international price. Prices vary significantly between exchanges in different countries. As you will see from below screenshot taken on 15th June, 2017 at 11:30am, prices range from $2,232 (~ Rs 1,43,500) to $2,546 (~ Rs 1,63,600). Thats a difference of Rs 20,000. And we have seen higher differences also. And this is just a sample. Exchanges in many countries are not listed here. USD Prices of bitcoin across different exchanges (Tradeblock) as on 15th June, 2017 at 11:30am IST Our prices are not higher because we are fleecing our users. The price on Zebpay as on 15th June, 2017 at 11:30am is Rs 1,88,000 to buy bitcoins and Rs 179,800 to sell. The sell price is also Rs 16,200 higher than the highest price on an exchange above. And it is a whopping Rs 36,300 higher than the lowest price. However, we still dont have sellers in India willing to sell at this price. So we have two options. We keep increasing the sell price till we have sellers. And Continue reading >>
Bitcoin Price Slides Again As India Announces Ban Plan | Fortune
The Indian government is to ban the use of Bitcoin and other cryptocurrencies for payments, finance minister Arun Jaitley has announced, kicking Bitcoins already-sliding value further down the slope. At the same time, Jaitley indicated that the government has a different attitude toward the blockchain technology that underpins cryptocurrencies and can be used for a variety of other purposes. The Government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system, Jaitley said Thursday in his 2018 budget speech . The Government will explore use of block chain technology proactively for ushering in digital economy. The news likely contributed to a 6.5% drop in Bitcoins value over the last 24 hours, leaving the most popular virtual coin at the $9,625 mark. Bitcoin, which briefly neared $20,000 in early December, has had a dreadful time since then, partly thanks to regulatory moves against it in South Korea . Its slide made cryptocurrency investors $44.2 billion poorer in January alone. The Indian finance minister pronouncement does at least clear up the governments intentions regarding Bitcoin. It started probing illegal exchanges in December, and also established a panel to work out new policies. The distributed-ledger technology known as blockchain, however, is becoming increasingly popular with policy makers as it promises great efficiency and security for things like land registries. Indian states started examining that potential last year. Update: At least one Indian bitcoin wallet provider, Unocoin, believes Jaitleys words have been misinterpreted: Based on the #UnionBudget2018 announcement, there is no change in government's stance Continue reading >>
Bitcoin Price Chart Indian Rupee(btc/inr)
Read the Disclaimer : Trading is a highly risky activity. Do consult your financial advisor before making any decisions. CoinGecko will not be responsible for any trading decisions. Each week we will be adding a few new coins to this ranking. If you want to see your coin on this ranking earlier, drop us some comments and feedback at [email protected] Like what we are doing? Donations are welcome! Continue reading >>
Bitcoin Price Just Hit $4000 On India's Zebpay Cryptocurrency Exchange!
Bitcoin Price Just Hit $4000 on India's Zebpay Cryptocurrency Exchange! Published on: Feb 01, 2018 by CryptoCrimson Bitcoin prices have been on a collapse since Mid-December. The prices peaked in at close to $20,000 and have since fallen by over 50% as the current global price is close to $9500. Zebpay, an Indian cryptocurrency exchange went through a major dip and hit the $4000 mark earlier today. However it was just a momentary dip due to panic selling, the prices have since bounced back to $9000.While many initially suspected this is some sort of a bug or a marketing gimmick from the exchange, it appears that this was due to Indian cryptocurrency traders panic selling their holdings. Bitcoin prices fell to INR 260,000 and are currently priced in around INR 600,000 - which is a rise of over 60% in less than 10 minutes. One of the biggest reasons that could be attributed to this Zebpay price dip is the Indian union budget which was announced today. The Finance Minister stated that Bitcoins are not a legal tender in India. However, this wasn't the first time that he made this statement. In fact, this has been repeated at least on two other occasions in the past month.However today this statement got much more attention because hundreds of millions of viewers were listening to the Finance Minister Arun Jaitley's speech. It appears that Indian cryptocurrency traders misinterpreted the statement of the Finance Minister and confused 'not a legal tender' with being illegal.There's a big difference between a currency being declared illegal and one not being a legal tender. When Jaitley said that Bitcoins are not a legal tender in India, it means that the currency is not backed by the Indian government and carries no value in the eyes of the law. It means that unlike fiat cur Continue reading >>
Live Btc To Inr: 1,076,698.44 Inr | Live Bitcoin Price In Indian Rupee Today Bitcoin To Indian Rupees.
Bitcoin and other exchange rates are updated each second. Intraday rates start at 00.00 (UTC timezone) and finish at 23.59. The detailed prices are calculated in that interval. Last Update of Bitcoin Rates (UTC): December 14, 2017 - 14:33 Bitcoin is an electronical money unit that it never can be print or visually visible. It is a digital currency money that you can buy and sell in Bitcoin Market. Bitcoin is a money unit but it is not printed, like the other moneys as dollar , euro or pound. Bitcoin is used electronically and no one take the control of it. In short, bitcoin is a digital currency. You can monitor realtime bitcoin prices at live bitcoin price . It is a payment system based on digital currency. Bitcoin Mechanism: Bitcoin works behind a new technology based on digital money. It works as a mobile app that you can send and receive data. Just like that, if you have a bitcoin wallet, you can send BTC and receive BTC both. It is a digital wallet that you may pay with your bitcoins when you get a service. It works systematically with transactions as banks. Bitcoin network shares a public method (ledger: Block Chain).The chain contains all transaction processes which happened already. This ledger provides a permition to an user's computer to verify the validity of a transaction. Each transactions are protected by digital signatures corresponding to the "Sender Adress". The system provides that an user can control btc wallet to send bitcoins from his wallet. Bitcoin Owners: No one controls the Bitcoin Network. It is a technology like cloud, emails, apps, etc. All bitcoin users control the network around the world.Bitcoin Market: Economy markets are not open for all day but bitcoin markets are open 24-hour in 7 days. Price of Bitcoin may change in each second. You Continue reading >>
Budget 2018: Bitcoin Prices Slump To Lowest This Year After India Clampdown
Bitcoin has lost more than $44 billion in market value during January amid mounting concerns of increased regulation and the viability of the cryptocurrency. Photo: Reuters New York/Hong Kong: Bitcoin slumped to its low for the year after seeing more than $44 billion in market value lost during January after Indias finance minister Arun Jaitley announced a clampdown on cryptocurrency in Union Budget 2018. After reaching a record high of $19,511 on 18 December, Bitcoin has lost more half its value as the digital token has been weighed down by expectations of more government oversight globally, fears of price manipulation, the susceptibility of exchanges to hacking and lingering concern that its all just an asset bubble. Facebook announced a ban on cryptocurrency ads this week. Bitcoin declined as much as 8.7% on Thursday to $9,100, the lowest since November, in part on concern India may crack down on cryptocurrencies . That follows a spate of recent negative headlines, including a $500 million heist from a Japanese cryptocurrency exchange. News about India potentially cracking down on cryptocurrencies added to an already bad week in terms of headlines, said Andrew Se, cryptocurrency trader and co-founder of research website Cryptoprofile.com. Were still correcting as the rally had gone too far. Bitcoins dizzying 1,400% ascent last year, which created $200 billion in new wealth for investors, has made its 30% fall in January all the more painful. The $44.2 billion in market value lost last month is by far a record for the digital currency, whose entire market cap hadnt come close to that amount until 2017, according to price data from Coinmarketcap.com. Indias finance minister Arun Jaitley told lawmakers in New Delhi on Thursday the country doesnt consider cryptocurrenci Continue reading >>
Bitcoin Price Prediction For 2018, 2019, 2020 And 2021
Bitcoin Cash Price Prediction For 2018, 2019, 2020 And 2021 In India. In 2 weeks BTC to INR prediction on Thursday, December, 28: price 1448825 Rupees, maximum 1550243, minimum 1347407. Bitcoin price prediction on Friday, December, 29: price 1497089 Rupees, maximum 1601885, minimum 1392293. BTC to INR prediction on Monday, January, 1: price 1490323 Rupees, maximum 1594646, minimum 1386000. Bitcoin price prediction on Tuesday, January, 2: price 1644405 Rupees, maximum 1759513, minimum 1529297. BTC to INR prediction on Wednesday, January, 3: price 1623059 Rupees, maximum 1736673, minimum 1509445. In 3 weeks Bitcoin price prediction on Thursday, January, 4: price 1629151 Rupees, maximum 1743192, minimum 1515110. BTC to INR prediction on Friday, January, 5: price 1671484 Rupees, maximum 1788488, minimum 1554480. Bitcoin price prediction on Monday, January, 8: price 1689395 Rupees, maximum 1807653, minimum 1571137. BTC to INR prediction on Tuesday, January, 9: price 1833179 Rupees, maximum 1961502, minimum 1704856. Bitcoin price prediction on Wednesday, January, 10: price 1965822 Rupees, maximum 2103430, minimum 1828214. In 4 weeks BTC to INR prediction on Thursday, January, 11: price 2013370 Rupees, maximum 2154306, minimum 1872434. Bitcoin price prediction on Friday, January, 12: price 1953073 Rupees, maximum 2089788, minimum 1816358. BTC to INR prediction on Monday, January, 15: price 1970171 Rupees, maximum 2108083, minimum 1832259. Bitcoin Price Prediction For 2017, 2018, 2019, 2020 And 2021 In India Bitcoin price prediction for December 2017. In the beginning price at 636918 Rupees. Maximum price 1601885 Rs, while minimum price 605190. The averaged price 1085271 Rs. Bitcoin price forecast at the end of the month 1497089, change for December 135.1%. BTC to INR predicti Continue reading >>