How to liquidate Bitcoin/Monero in India?

puneetas3

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Cryptocurrencies have been declared as illegal tender by govt. and they are cracking on Indian exchanges. International exchange like Kraken doesn't allow fiat transfer to India.

I did use Southxchange for PayPal transfer but it is disabled now. How do my Indian fellows liquidate the Cryptos? Any help will be grateful
 

JB2302

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ryptocurrencies have been declared as illegal tender by gov
so as bonds, share and stocks !! they are not considered as a mode of payment.
bank are fussy about the crypto traders just because they do want to bear the trouble of the government if the amount is used in illegally.
government is looking into another way it can use blockchain. (i haven't found any open bounty or contest yet.

How do my Indian fellows liquidate the Cryptos?
show them as an investment , and cash out when the time is good. and fill the taxes. it is better to consult a CA, most CA's are up to date with Crypto. I have met many CA doing crypto trading.
 

puneetas3

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so as bonds, share and stocks !! they are not considered as a mode of payment.
bank are fussy about the crypto traders just because they do want to bear the trouble of the government if the amount is used in illegally.
government is looking into another way it can use blockchain. (i haven't found any open bounty or contest yet.


show them as an investment , and cash out when the time is good. and fill the taxes. it is better to consult a CA, most CA's are up to date with Crypto. I have met many CA doing crypto trading.

Thanks, My CA can take care of the cryto return, but I am not sure which exchange I can use that will transfer money to India. Do you know of any?
 

JB2302

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Thanks, My CA can take care of the cryto return, but I am not sure which exchange I can use that will transfer money to India. Do you know of any?
I have used bitbns . Zebpay till now.
Other famous exchange have good rates. Join their community on telegram and you can ask the current status, dont be supperized over 1 week cash out delay.
 

puneetas3

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Use Zebpay or Unocoin. There are huge number of transactions happening there daily in good volumes, nothing to worry about.
I have used bitbns . Zebpay till now.
Other famous exchange have good rates. Join their community on telegram and you can ask the current status, dont be supperized over 1 week cash out delay.

Thanks for the feedback. Is it safe to transact on Indian exchanges? Aren't they being cracked down by agencies
 

puneetas3

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I am trying zebpay for now. Looking positive so far with first cashout, lets see when money arrives
 
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