Crypto

[John4life2017]

Hi all,

The Indian govt. has virtually halted all acitvity of crypto trading companies in India. I have 2 questions:

1. If I want to convert my bitcoin to cash, what site can I use?

2. If I want to convert my bitcoing to another crytpo, what site can I use?

Thanks.

 

[aRookie]

localbitcoin or something like that bought easily u can sell as well

 

[aRookie]

sry didnt notice there are 2 QUESTION.
FOR second question there are exchangers such as Binance which is the best IMO

 

[johncornerv]

As your local exchange which exchange website they accept for converting btc into other crypto's.

 

[bartosimpsonio]

localbitcoin or something like that bought easily u can sell as well

He can't legally use localbitcoin in India.

 

[Total Noob]

1. Do not convert your bitcoin into cash.

2. Now you're talking. Do this and sit back as the blockchain revolution unfolds and all cryptos (especially altcoins) spike 50x - 100x.

 

[nomi240]

there are lots of best exchnagers from
indo
pak as per my experience SahibExchange are best trusty exchnagers among others with reasonable rates ....

 

[deal with it]

1. Do not convert your bitcoin into cash.

2. Now you're talking. Do this and sit back as the blockchain revolution unfolds and all cryptos (especially altcoins) spike 50x - 100x.

i have seen you in other threads, whats suddenly making you to spread good things about crypto and "altcoins" ?

 

[Hydius]

i have seen you in other threads, whats suddenly making you to spread good things about crypto and "altcoins" ?

Honestly, in the year 2200 bitcoin will be worth 1 trillion USD each, at that point, arnold schwarzenegger will come from the future and destroy all bitcoin to prevent blockchains from being conscious

 

[deal with it]

Honestly, in the year 2200 bitcoin will be worth 1 trillion USD each, at that point, arnold schwarzenegger will come from the future and destroy all bitcoin to prevent blockchains from being conscious

im seeing you in this threads, whats suddenly making you to spread good things about blockchain ?

 

[Hydius]

im seeing you in this threads, whats suddenly making you to spread good things about blockchain ?

I don't know if you can tell, but if I was a video game character, my only stat would be sarcasm

 

[Gogol]

He can't legally use localbitcoin in India.

Why is that? I am not sure what changed in the last 4 months but I used to use localbitcoin for the exchange. Never had a problem. I always showed this extra income as other income while submitting taxes. Not sure how the govt. can hold me back. If they question me, I will simply tell them that I got paid for a freelance project or something lol.

 

[bartosimpsonio]

Why is that? I am not sure what changed in the last 4 months but I used to use localbitcoin for the exchange. Never had a problem. I always showed this extra income as other income while submitting taxes. Not sure how the govt. can hold me back. If they question me, I will simply tell them that I got paid for a freelance project or something lol.

Far as I understood, several Indian members came out recently complaining that crypto transactions were banned nationally. I could be wrong though.

 

[Gogol]

Far as I understood, several Indian members came out recently complaining that crypto transactions were banned nationally. I could be wrong though.

Yeah bank transactions are banned but lbc transactions are much much harder to ban. I pay the seller through paytm/netbanking and he transfers the btc via lbc wallet (and vice e verse) so it is impossible to track lol. Anyone who is interested in exchanging.. do it in localbitcoins and you will be safe. Just make sure that you show the transaction as other income (if you received money) while submitting tax.

 

[Darkvador007]

You want to try mistertango.
Your BTC are directly exchanged to FIAT and you can make wire transfer where you want or cash out with their card

 

[bartosimpsonio]

Yeah bank transactions are banned but lbc transactions are much much harder to ban. I pay the seller through paytm/netbanking and he transfers the btc via lbc wallet (and vice e verse) so it is impossible to track lol. Anyone who is interested in exchanging.. do it in localbitcoins and you will be safe. Just make sure that you show the transaction as other income (if you received money) while submitting tax.

But if they get a court order for lbc to turn in the bank accounts everyone is fucked.

 

[kuramasdistro]

1- one local exchange then works in your area.
2- one crypto exchange then have the currencies then you want trade.

 

[kuramasdistro]

or you may convert the btc to other payment then works in your area like western union or paypal

1- one local exchange then works in your area.
2- one crypto exchange then have the currencies then you want trade.

 

[Gogol]

But if they get a court order for lbc to turn in the bank accounts everyone is fucked.

Yeah that is the ultimatum.. Anybody who is doing large amount of exchanges could be in trouble. Not sure if LBC can be tried in Indian court though.

 

[RedHatUser]

Soon it will be possible to freely change your assets using MobileGo.