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Bitcoin To Indian Bank Account

How To Transfer Bitcoins To My Indian Bank Or Paypal Account?

How To Transfer Bitcoins To My Indian Bank Or Paypal Account?

How to transfer bitcoins to my Indian bank or PayPal account? I have recently joined free bitcoin and opened an account on Blockchain.info. I have studied the FAQ, but still I am not sure about how to transfer to PayPal and am unable to understand if I can withdraw directly to my PayPal account or whether I need an exchange. Because this is a very new currency, I am not sure how to transfer my bitcoins in to my paypal account or in my Indian bank account,and please let me know the minimum withdrawal limit. This is a public Questions and Answers site, so "Sir" or "please provide answer for queries" style language makes reading the question akward. Just a tip for the next time :) Mikko Ohtamaa Jan 8 '14 at 23:55 There are other sites in India, but unocoin.com can sell bitcoin for INR ChrisW Apr 16 '14 at 17:05 Bitcoins cannot be "transferred" to any fiat currency or any bank account. If you need to liquidify your bitcoins and you want to get fiat currency in exchange, you can sell your bitcoins in Bitcoin exchanges. Alternative is that you directly spend bitcoins on bought products and services. If you just want to store your bitcoins you can create your own local Bitcoin wallet independent of online bitcoin services . No financial institution will touch bitcoins. In fact, most banks and PayPal are openly hostile towards anything having word "bitcoin" on it. Good options to sell your bitcoins in India is LocalBitcoins where you can sell bitcoins online, or on the street with cash . Be aware that there are some risks, and those risks are especially when selling bitcoins on PayPal . Unless you are professional you should not be doing Bitcoin sells on PayPal. What I would do is that I would transfer my bitcoins to LocalBitcoins trade wallet, pick a trader with high reputati Continue reading >>

Indias Bitcoin Exchange Koinex Suffers From Bank Blocking Crypto Accounts

Indias Bitcoin Exchange Koinex Suffers From Bank Blocking Crypto Accounts

Indias Bitcoin Exchange Koinex Suffers From Bank Blocking Crypto Accounts India continues its shaky experiment with moneys future as its domestic population is wild about cryptocurrency. Its government and regulators are less than thrilled, though. The banking system is siding with minders, causing friction between account holders and crypto exchanges. Everyone is pointing to a lack of clarity in the law as origin for the confusion. Meanwhile, average Indian traders suffer. Popular crypto exchange in India, Koinex, posted an update titled, The Truth Behind the Unexpected Delay. In an usually emotional explanation, the company understood many of our users have faced difficulties with INR withdrawals on Koinex. INR is the abbreviation for its national currency, Indian rupee. A tussle between our payment service partner and their bank has caused an indefinite delay in the settlement of a large portion of deposits to Koinex in the past 2 weeks, they explained. This created a bottleneck in the cash flow of user funds, thus hamstringing INR withdrawals on the platform. The government of India has at once been demonstrative in its denial of cryptocurrency viability, yet it has been loathe to regulate on the matter, placing its banking industry in at least a momentary financial purgatory. Theyre been raids , even. No one seems to know what to do, and in such cases the conservative banking industry in any country usually errs on the side of caution. The countrys Finance Ministry weighed-in at the end of last year, warning of cryptocurrencies, which it refers to as virtual currency (VC), Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes, and of how, The Government or Reserve Bank of India has not authorized any VCs as a medium of Continue reading >>

Indian Banks Suspending Accounts Of Multiple Bitcoin Exchanges

Indian Banks Suspending Accounts Of Multiple Bitcoin Exchanges

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If I Get Bitcoins To My Coinbase Wallet In India, How Do I Withdraw Money Equivalent To The Value Of My Bitcoins To My Bank Account?

If I Get Bitcoins To My Coinbase Wallet In India, How Do I Withdraw Money Equivalent To The Value Of My Bitcoins To My Bank Account?

If I get Bitcoins to my Coinbase wallet in India, how do I withdraw money equivalent to the value of my bitcoins to my bank account? Coinbase isnt supported in India you cannot Buy/Sell in India although you can withdraw your bitcoin to bank account. Ive found 3 methods to transfer your bitcoins to bank account: This is one of the safest and secure ways to sell your Bitcoins and convert them to INR. Once you have your Bitcoins in any of the Indian Bitcoin Exchanges you can instantly Transfer Bitcoin to Indian Bank Account. Here are some of the Indian Bitcoin Exchanges that you can use to convert your Bitcoins to INR. Coinsecure is one of the Best Indian Bitcoin Exchanges to Convert your Bitcoins to INR. It is like the other International Exchanges like Poloniex, Cex, etc. To Transfer Bitcoins to Bank Account on Coinsecure please follow these steps: 1.) First of all, Open Coinsecure Dashboard. 2.) Now Click on the Bank Option from Menu. 3.) First, sell your Bitcoins and Convert them to INR Balance. 4.) Scroll down and click on Withdraw Button from Fiat Balance. 5.) Enter your Amount and Click on submit button. Voila! Youve successfully withdrawn your Bitcoins to Bank Account. Zebpay is one of the Popular Bitcoin Brokers in India. Sell Bitcoins on Zebpay App and redeem your Bitcoin in Bank Account. To Transfer Bitcoins to Bank Account on Zebpay please follow these steps: Unocoin is also one of the Bitcoin Brokers in India. Sell your Bitcoins on Unocoin Website/App and redeem your Bitcoins in Bank Account. To Transfer Bitcoins to Bank Account on Unocoin please follow these steps: 1.) First of all, Open Unocoin Dashboard. 3.) Now that youve sold your Bitcoins youve received the amount in INR Wallet. 5.) Enter the amount you would like to redeem and also choose the Bank Acc Continue reading >>

Investors In A Bind As Banks Pull The Plug On Bitcoin Accounts - Business Line

Investors In A Bind As Banks Pull The Plug On Bitcoin Accounts - Business Line

Investors in a bind as banks pull the plug on bitcoin accounts Some banks are not allowing deposits of money earned from trading on bitcoin exchange platforms MUMBAI: The uncertainty over regulating crypto-currencies seems to have left hundreds of Indian investors in the lurch. A number of retail investors who had bought bitcoins over the past few months are now stuck as some banks are not allowing them to deposit money earned from trading on bitcoin exchange platforms. These investors told BusinessLine that they are unable to either trade on some of the bitcoin exchanges or withdraw the invested amount into their linked bank accounts. The investors are also finding it tough to file a complaint in this regard as both the banks and the bitcoin exchanges are passing the buck to each other. Vandana Tiwari, an investor from Varanasi, said she had been investing on a leading bitcoin exchange for several months through her bank account. But recently, when she tried to invest about 20,000 from her bank account, the amount did not reflect on her bitcoin account although the transaction status clearly mentioned that the amount had been credited via NEFT. I had written to the exchange but they said that they have not received the money while my bank statement shows that the money was credited. Now, I dont know whom to approach. Banks are also not giving any clarification, she said. BusinessLine has an email copy of the transaction details. Another customer from Delhi, who did not wish to be named, said that he is unable to withdraw his balance from his bitcoin account, which is asking him to verify his bank account. S Siddharth, a software engineer in Hyderabad, said his bitcoin investments, worth 40,000, are stuck as his bank was asking him to verify his account even though he Continue reading >>

India's Biggest Bitcoin Exchanges See Bank Accounts Frozen: Report

India's Biggest Bitcoin Exchanges See Bank Accounts Frozen: Report

Indias Biggest Bitcoin Exchanges See Bank Accounts Frozen: Report Join our community of 10 000 traders on Hacked.com for just $39 per month. According to a report by the Indian news publication, The Economic Times (ET), bitcoin exchanges in India may be facing some disruption from the countrys top financial institutions. Over the past month since December 2017, several national banks, including State Bank of India, HDFC Bank, Axis Bank, Yes Bank and ICICI Bank, have frozen accounts belonging to select digital currency exchanges. The suspension of bank accounts appears to be primarily motivated by the banking industrys lack of faith in such businesses, especially since most exchanges have been largely operating on borrowed funds. Furthermore, of the Indian banks that havent imposed a complete suspension on the bank accounts, most have limited the amount of money that can be withdrawn within a single day. Although Economic Times list of affected businesses only includes Zebpay, Unocoin, CoinSecure and BtcxIndia, other exchanges have also been publicly experiencing some problems. A banking representative told ET that (The) Reserve Bank of India has not issued any directive to us its a cautionary move on our part. Financial institutions are also demanding cryptocurrency exchanges for collateral on their borrowings while keeping accounts hostage. A source familiar with the matter said, Since last month, banks have been asking for additional collateral with 1:1 ratio. Most Indian exchanges that borrowed capital from financial institutions did so in the hopes of raising an equivalent amount in private equity investment, something that has not come into fruition yet. It is likely that venture capitalists are waiting for the government to clarify the taxation and regulatory asp Continue reading >>

Reserve Bank Of India Regulations On Bitcoin Inindia

Reserve Bank Of India Regulations On Bitcoin Inindia

Reserve Bank of India regulations on Bitcoin inIndia Reserve Bank of India regulations on Bitcoin inIndia Laws about Bitcoin are in a gray area today across the world. I studied documents from the Reserve Bank of Indias public repository surrounding Virtual currencies and prepaid solutions. I happened to study two documents about Prepaid Payment and Foreign Exchange Management Rules, 2000. A person may come across the need to purchase them through Fiat Currencies (INR, USD, GBP, etc). Purchasing any e-currency and loading to an eWallet is regulated by the RBI. Although Bitcoin is in no way related to this, I wanted to see how close I could get to any laws that could present a roadblock. The RBI regulation on Prepaid Payment Instruments in India defines a lot of areas. After understanding the documents of RBIs guidelines and Rules, this is where I could find the only roadblock based on regulation. 3.2 Only banks which have been permitted to provide Mobile Banking Transactions by the Reserve Bank of India shall be permitted to launch mobile based prepaid payment instruments (mobile wallets & mobile accounts). In order to enter into the market; fiat is needed to purchase Bitcoin. Fiat will fade away as more people adopt Bitcoin. Until that frictionless free flow between consumers and merchants is made possible, this is a problem area for Bitcoins entry into India. Donations and sponsorships. There are enough Smartphones to cause this market to explode in any sponsors favor. Sell Services and goods for Bitcoin. Programming Skills, etc. Mining is too expensive at this stage, unless you have the latest and best equipment. Electricity is not expensive in India. If we keep fiat out of the system, then Bitcoin is unregulated in India. I spent some time on the Foreign Exchange M Continue reading >>

Coinbase To Indian Bank Account - Bitcoin To Indian Rupee

Coinbase To Indian Bank Account - Bitcoin To Indian Rupee

Withdraw Bitcoin from Coinbase to Indian Bank Account Bitcoin is a digital currency, selling it to western Union is not an easy task. Thanks to bitcoincashout.com who has made selling bitcoin to Western Union easy. For those who has fund on their bitcoin wallet and wish to send real cash to their friends and relatives or do you want to do business with real cash via Western Union but what you have is bitcoin, this is good news for you. Bitcoincashout help you sell your bitcoin to Western Union. We buy your bitcoin at a very good price and within the shortest time and send your fund to you via western Union and all this is done within an hour. To do this, all that is required of you is to take the necessary steps to transact with us. Just place an order with us, provide us the details that you want us to send the funds, send the bitcoin to the wallet I.d that will be sent to you while transacting. Immediately your payment is complete and confirmed, your cash will be sent to you via Western Union to the address or information you provided within an hour. No third party is needed with bitcoincashout, send your bitcoin to us and receive cash via Western Union. Our Western Union service is worldwide I.e, Africa, America, Europe, India etc. No matter where you are, we can reach you with our service. Use our service today and you will be glad you did.Direct transfer instant exchange automatic sell bitcoin for western union worldwide services BTC to WU usd cashout convert online service high rate offer Withdraw Bitcoin from coinbase to Indian Account Continue reading >>

Indian Banks Reportedly Suspend Accounts Of Bitcoin Exchanges

Indian Banks Reportedly Suspend Accounts Of Bitcoin Exchanges

Indian Banks Reportedly Suspend Accounts of Bitcoin Exchanges Sputnik/ Vladimir Astapkovich As the accounts of exchanges remain inactive, their customers are unable to deposit or withdraw money by selling the virtual coins they hold, unleashing chaos among investors, according to a news report published by an India daily. New Delhi (Sputnik) As cryptocurrency exchanges inIndia reported a business ofover $3.5 billion inthe last one month alone, major Indian banks have started suspending the accounts ofsome ofthe exchanges, according toa report published bythe Indian business daily Economic Times. The banks that have taken this action include the public enterprises likethe State Bank ofIndia (SBI) aswell asprivate banks including Axis Bank, HDFC Bank, ICICI Bank and Yes Bank. Sources told Sputnik that exchanges likeKoinex, Zebpay, Unocoin, Coinsecure, BtcxIndi are the ones that have faced the crackdown. Rajesh Barman (@RajeshBarman_) January 22, 2018 @koinexindia You guys really suck indoing business. Its really frustrating Now.If you cant deposit it tomy bank account atleast deposit back my money tomy koinex wallet A few weeks ago, Koinex had issued a statement claiming that "a tussle" betweenpayment service partners and the banks inwhich it holds accounts has caused an "indefinite delay" inthe settlement ofa large portion ofdeposits toKoinex inthe pasttwo weeks.' While none ofthe banks have officially commented onthe development, the Economic Times quoted an anonymous source saying that the move was largely a deterrent forsuspicious transactions and the country's central bank had no role init. "The Reserve Bank ofIndia (RBI) has not issued any directive tous it's a cautionary move onour part. We are wary aboutthe purpose forwhich some ofthese current accounts are being Continue reading >>

Bitcoin: Top Banks Suspend Accounts Of Major Bitcoin Exchanges In India - The Economic Times

Bitcoin: Top Banks Suspend Accounts Of Major Bitcoin Exchanges In India - The Economic Times

Top banks suspend accounts of major Bitcoin exchanges in India By Sachin Dave & Saloni Shukla , ET Bureau | Updated: MUMBAI: Top lenders including State Bank of India, Axis Bank , HDFC Bank , ICICI Bank and Yes Bank have suspended some accounts of major Bitcoin exchanges in India, suspecting dubious transactions, three people aware of the development said. The banks have also sought additional collateral from the promoters of these exchanges on their borrowings and have capped cash withdrawals from the few accounts that are still operational. Since last month, banks have been asking for additional collateral with 1:1ratio, a person with knowledge of the matter said. The banks are scrutinising current accounts held by top Bitcoin exchanges, a second person said. Action has been initiated against the top 10 Bitcoin exchanges including Zebpay, Unocoin, CoinSecure and BtcxIndia , said four people aware of the matter. The banks have not contacted the company or the promoters regarding the actions you have mentioned, said Sathvik Vishwanath, promoter of Unocoin. Emailed queries to Zebpay, Coin-Secure and BtcxIndia did not elicit any response. SBI , Axis Bank, HDFC Bank, ICICI Bank and Yes Bank did not respond to emails seeking comment. Bitcoins are a digital currency that can be used to buy products and services without any intermediary. People also buy Bitcoins, which has been banned in some countries, as an investment. Although India hasnt banned Bitcoins, the cryptocurrency is largely unregulated. The total revenue of the top 10 exchanges in India could be about Rs 40,000 crore, according to tax officials scrutinising these companies. These exchanges tend to show the total volumes both on buy and sell side as their revenue. In many instances, the exchanges themselves buy Continue reading >>

How To Buy And Sell Bitcoins? Are Bitcoins Legal In India?

How To Buy And Sell Bitcoins? Are Bitcoins Legal In India?

How to buy and sell bitcoins? Are bitcoins legal in India? Karan Dhar Last Updated:December 19, 2017 |16:58 IST With a 300 per cent increase in its value in just one year, Bitcoins could well be the kind of investment you may be looking for. However, in spite of all the curiosity, many of us have wondered if it is safe to buy, store and sell bitcoins in India. In the news recently for being the only payment method to pay ransoms to WannaCry attackers, Bitcoins can be used for a host of other things. And countries such as Japan and South Korea are leading the way. One of Japan's biggest electronics retailers, Bic Camera, began accepting bitcoin at two stores in Tokyo last month. Another Japanese firm, Recruit Lifestyle announced it will add bitcoin acceptance to its mobile point of sale tool AirRegi, which is used in 260,000 merchant and restaurant locations across Japan. Unlike paper currencies, Bitcoins cannot be minted, they can only be mined. There are only 21 million bitcoins that have been created. At present, only 16.8 million or 80 per cent of all the bitcoins have been mined. You can look for various digital currency exchanges to buy bitcoin. You can purchase Bitcoins with a credit card. Coinbase.com and Coindesk.com are the most popular exchanges. They also offer tutorials on digital currencies. In India, you can purchase Bitcoin from Zebpay exchange. Zebpay has Android and iPhone app which lets you link your bank account for quick transfers. You can buy Bitcoins by making a payment to Zebpay's bank account. You can also withdraw the money to your bank account, and track data on Bitcoin valuation in the country. There is a KYC requirement and you need to verify your ID by simply clicking a photo of your PAN card. Unocoin, another India-based exchange, lets you Continue reading >>

Indian Banks Suspending Bitcoin Exchange Accounts

Indian Banks Suspending Bitcoin Exchange Accounts

Indian Banks Suspending Bitcoin Exchange Accounts Bitcoin exchange bank accounts are being closed or scrutinized in India. Jan. 21 update: This article originally mistakenly claimed that the Metropolitan Bank put a halt on all wire transfers for cryptocurrency exchanges. According to a statement issued by the Metropolitan, there were no changes in its policy and the 'halt' was misreported by the media. We apologize for the confusion this article might have caused. Bitcoin exchanges are under fire in India , as many of the nations top banks have suspended or greatly curtailed functionality on exchange accounts. State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have all taken strong action toward crypto exchanges, either closing accounts or severely limiting functionality. The banks cite the risk of dubious transactions, according to local reports . The news follows the request of advocate Bivas Chatterjee who recently filed a public interest litigation (PIL) in Calcutta to impose immediate regulations on Bitcoin and other cryptocurrencies. Additionally, the Ministry of Finance referred to Bitcoin as a ponzi scheme before the end of last year. The international mood toward Bitcoin has continued to tighten, particularly with US Treasury secretary Steven Mnuchin stating that the G20 nations will begin working together to make sure that Bitcoin and other cryptocurrencies are properly regulated. Continue reading >>

Indian Banks Freeze Major Cryptocurrency Exchange Accounts

Indian Banks Freeze Major Cryptocurrency Exchange Accounts

Indian banks freeze major cryptocurrency exchange accounts Several major Indian banks have suspended the accounts of top Bitcoin exchanges in India. State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank cited suspicious payments in their decisions. The move comes after tax authorities sent notices to cryptocurrency investors warning that they must pay capital gains on their income from the virtual currency. For the few accounts still open, the banks have asked for more collateral, and have capped cash withdrawals. According to one observer, “banks have been asking for additional collateral with 1:1 ratio.” While cryptocurrency trading is unregulated in India, officials have taken a tough stance against the technology. India’s finance minister, Arun Jaitley even called it a Ponzi scheme . The Indian government has since issued several warnings against cryptocurrency investments, saying they’re risky. But so far, it has not regulated the rapidly expanding industry. 200,000 new users sign up in India every month. India’s major banks have placed the Bitcoin exchanges’ current accounts under greater scrutiny. Among the biggest exchanges affected are Zebpay , Unocoin , CoinSecure and BtcxIndia . Two weeks ago, Koinex , a popular Mumbai-based cryptocurrency exchange said that Indian banks were stalling transactions, forcing the exchange to temporarily suspend business. THe company issued a statement from their blog. In the past few days, many of our users have faced difficulties with INR withdrawals on Koinex. In these circumstances, temporarily suspended INR withdrawals, until the differences between the payment service provider and their bank are resolved. Once Indian banks discovered that the exchanges were using the accounts for different purpo Continue reading >>

India's Bitcoin Exchanges Under Pressure As Banks Choke Payments And Withdrawals Quartz

India's Bitcoin Exchanges Under Pressure As Banks Choke Payments And Withdrawals Quartz

The splash of 2017 may turn into a fight for survival for bitcoin this year in India. As the countrys cryptocurrency exchanges deal with the manic rush , banks have become a stumbling block. Possibly taking cue from the uneasiness shared by the Reserve Bank of India (RBI) and the Narendra Modi government, some of the lenders are no longer comfortable with virtual currencies. This has led to issues with deposits and withdrawals. This is precisely the tussle that is playing out at Koinex, a cryptocurrency exchange, between its payment service provider and its bank where withdrawals have been delayed for over two weeks. regulators world-over, have struggled to understand the underlying blockchain technology and develop an appropriate response to it; and India is no exception. These misgivings have resultantly affected the financial services community, who find it difficult to make up their mind about supporting cryptocurrencies, eventually causing organisations like Koinex and its users to bear the brunt, said Koinex, in a blog post on Jan. 07. Coindelta, another exchange, has had its instant deposit and withdrawals facility suspended for a few days due to similar issues, Shubam Yadav, the firms co-founder, told Quartz. The management of three other exchanges confirmed they were aware of the brewing trouble. An email sent to the RBI remained unanswered. Apparently, banks have been asked by the RBI in an informal communication to stay away from dealing with the virtual exchanges and, therefore, they (banks) are doing it so brazenly, said a lawyer who works with a few of these exchanges. To discourage investors from betting on these cryptocurrencies, the government has repeatedly said that bitcoin and its kind are not legal tender in India . The finance ministry even went a Continue reading >>

How To Transfer Bitcoin To Indian Bank Account? Convert Btc To Inr

How To Transfer Bitcoin To Indian Bank Account? Convert Btc To Inr

How to Transfer Bitcoin to Indian Bank Account? Convert BTC to INR But you dont need them anymore or you would like to convert your Bitcoins to INR and if you are using any International Bitcoins Wallets then youre stuck because most of these wallets are still not available to buy and sell Bitcoins in India. Downfall in the price of Bitcoins is also expected that it fall more due to upcoming updates (Segwit2x) on Bitcoin. So if you dont want to get affected by these updates you can convert your Bitcoins to INR. How to Transfer Bitcoin to Indian Bank Account? Ive been getting a lot of requests that please share that how we can Transfer Bitcoin to Indian Bank Account.Today I will share the best methods which you can use to Easily TransferBitcoin to Indian Bank Account. Ill also share some tips & tricks to get the highest selling prices to grab some extra profit so make sure to read till the end. This is one of the safest and secure ways to sell your Bitcoins and convert them to INR. Once you have your Bitcoins in any of the Indian Bitcoin Exchanges you can instantly TransferBitcoin to Indian Bank Account. Here are some of the Indian Bitcoin Exchanges that you can use to convert your Bitcoins to INR. Coinsecure is one of the Best Indian Bitcoin Exchanges to Convert your Bitcoins to INR. It is like the other International Exchanges like Poloniex, Cex, etc. To Transfer Bitcoins to Bank Account on Coinsecure please follow these steps: 1.) First of all, Open Coinsecure Dashboard. 2.) Now Click on the Bank Option from Menu. 3.) First, sell your Bitcoins and Convert them to INR Balance. 4.) Scroll down and click on Withdraw Button from Fiat Balance. 5.) Enter your Amount and Click on submit button. Voila! Youve successfully withdrawn your Bitcoins to Bank Account. Zebpay isone Continue reading >>

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