Bitcoin in india

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what is bitcoin?

Bitcoin is a digital currency that was created in January 2008.

Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual.

It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.


Bitcoin price in india.

1 Bitcoin equals - above 40 lakhs Indian Rupee on 20 feb 2021


How to buy bitcoin india?

In India, you can buy Bitcoin from several online exchanges like BuyUCoin, Coinshare, Unocoin etc. Unocoin is an Indian-based exchange. Online exchanges like these will allow you to buy, sell, and hold Bitcoins. You can also do person to person Bitcoin trading using Local Bitcoins — it uses escrow protection to keep the transaction secure. And  you can start your Bitcoin investment by chipping in as low as Rs.500.


Bitcoin is legal or ban in india?

Created in 2008, Bitcoin is worth $1 trillion today at over Rs 40 lakhs a coin.

Because of their revolutionary nature, they are often also used in illegal business.

The Indian government has tried many times to counter problems caused by cryptocurrency, but failed. In 2018 all banks were banned to dealing in cryptocurrency.

Now, another bill in this year's budget proposes banning cryptocurrencies in India. If this bill is approved, RBI will issue a 'virtual Indian rupee'.

Cryptocurrencies are being promoted by many celebrities globally, like elon musk. But in india, they face a very uncertain future.

The ban on crypto will affect lots of businesses and people. Currently there are 7 million Indians holding crypto assets of over 10,000 crores.

According to reports, india will go ahead with complete ban on investment in cryptos via domestic and foreign exchanges, after giving investors a transition period of 3-6 months.


Our sources - google, Wikipedia, infomance, bbc, etc.

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