Need help Accepting Crypto payment | India specific question.

[adwaitk007]

Hey there,
I am gearing up for my WTS on BHW. While interacting with beta testers, one of the input I received was regarding mode of payments.

I belong to India, and people from India know the dynamics of crypto payments. Hence this question is specific to you guys (others are also welcome but you may not be aware of government norms).

1. Do you deal with crypto currency payments? Is it allowed?
2. If yes, which platform is safe for transactions?
3. Did you withdraw in INR? Was it possible without triggering any scrutiny by income tax department?
4. How much money we can trasact safely in crypto
5. Any piece of advice as I am completely noob with crypto currency.

 

[ChrisHasADog]

I come from a country that is much stricter on cryptocurrencies.

All I can suggest is to use IPhone

paypal or Payoneer, We can use it too, but we don't like it because of the strict forex policy and accounts get stopped and blocked frequently.

 

[adwaitk007]

I come from a country that is much stricter on cryptocurrencies.

All I can suggest is to use IPhone

paypal or Payoneer, We can use it too, but we don't like it because of the strict forex policy and accounts get stopped and blocked frequently.

Well my only concern is getting it in INR. Can't keep the balance in crypto. P2P is almost dead and other means are regulated.

 

[Deleted member 1603965]

Why not purchase some service(s) with the crypto you receive and then sell those services for INR? Can be one of the ways to indirectly get from crypto to INR right?

 

[adwaitk007]

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Why not purchase some service(s) with the crypto you receive and then sell those services for INR? Can be one of the ways to indirectly get from crypto to INR right?

That's a good idea but it is filled with uncertainty isn't it? It's kind of reseller job which is itself requires lots of time and efforts

 

[mosescjteam]

Hey there,
I am gearing up for my WTS on BHW. While interacting with beta testers, one of the input I received was regarding mode of payments.

I belong to India, and people from India know the dynamics of crypto payments. Hence this question is specific to you guys (others are also welcome but you may not be aware of government norms).

1. Do you deal with crypto currency payments? Is it allowed?
2. If yes, which platform is safe for transactions?
3. Did you withdraw in INR? Was it possible without triggering any scrutiny by income tax department?
4. How much money we can trasact safely in crypto
5. Any piece of advice as I am completely noob with crypto currency.

Oh this is a very good question! When it comes to the time of crypto, you can make use of BYBIT because it is one of the best crypto ever and have use it so many time for many transactions

 

[Flamee]

better spread transactions, stay under radar, keep INR flow steady, worked fine for my buddy so far

 

[netproxy]

Same here, just started exploring. Did you figure out if there any platform with easier compliance for small amounts.