Jun 29, · Zebpay and Unocoin are not platforms to buy and sell BTC. They are not trading platforms but they are exchanges. Exchanges always set their own rates for buying and selling. However Coinsecure is a true trading platform where real people post thei. In , we expanded Unocoin to include the ether (ETH) and now we have introduced a stable coin USDT on our platform. From now onwards, our customers will be able to buy and sell USDT with INR directly from Unocoin without going through the cumbersome bid/ask procedures or facing the hardship of slippage in the price for bulk purchases. Sep 28, · The highest price for bitcoin since it was launched in was $19, in December After that spike, the price trended down to $6, in August Bitcoin’s price is gradually rebounding, buoyed by increased demand for the digital asset in China caused by the weakening yuan: digital asset, like gold, is a refuge for investors in the.
Unocoin bitcoin selling priceBitcoin in India: Live INR Price, Best Exchanges, Taxes, and History
Unocoin, an India-based exchange, allowed individuals to trade Bitcoins but is now disabled. Many bitcoin traders usually buy through diaspora networks in countries where it is legal tender.
Bitcoin is not legal in India. The RBI ban has also discouraged the overall cryptocurrency market in India, since crypto assets have been accused of financing illegitimate activities.
The downward trend in cryptocurrency trading in India is mostly due to increased government regulations. However, this does not stop people from trading. Two ways in which many Indians trade are: 1 Exchanges and 2 P2P methods. Both these steps follow the KYC norms and usually require documents like Pan card, Aadhaar card or passports.
Since banking institutions have banned cryptocurrency trading in India, popular exchanges like ZebPay have had to shut down. Nevertheless, the following top exchanges are still currently used in India:. Unocoin was founded in and is the leading bitcoin exchange in India. It is a relatively easy exchange platform, allowing users to buy cryptocurrency with any Indian bank account. However, with the banning proposal at hand, things might get challenging for Unocoin. WazirX follows the KYC norms, has a mobile application for both Android and iOS users and also claims to provide multiple hundred transactions per second.
Outside of exchanges, P2P trading platforms enable bitcoin purchases in India, in spite of the bank bans. Two important P2P marketplaces in India are:. Paxful is a peer to peer marketplace founded in that allows buyers and sellers to meet online and trade directly Bitcoin with each other.
As a result, many Indians use Paxful due to ease of access and payment. There is also no fee for ht site itself, since the Bitcoin is traded at a premium. LocalBitcoins supports the most popular payment methods and allows individuals from different countries to purchase Bitcoin for their local currency.
For the individual investor, gains from Bitcoin have to be declared as profit or capital gains in year-wise statements. As such the tax rates are subject to the holding period of the asset. Once an indexation benefit is applied and inflation is adjusted, the tax rate can go down further. For a trader, bitcoin profits are treated as income from a business.
As such, certain expenses related to business, office maintenance, such as buying a computer, internet expenses, office rent, administration cost, etc. However, if the turnover crosses Rs. For those who mine cryptocurrency, profits will not be treated as a capital asset. As such, there is no capital gains tax. Most Indians trade and mine bitcoin to store them in digital web wallets instead of spending them to buy something.
Regardless several ventures have been in place to use Bitcoin for spending. Unocoin has been the most prominent in this sector.
In , it linked up with BookMyShow, an online cinema ticketing platform. This venture allowed customers to top up their accounts for movie tickets with Bitcoin. In a bid to fight corruption and terrorism, on November 8, , Prime Minister of India Narendra Modi shocked the nation by demonetizing Rs. Exchanges are not safe. Know why should you move your coins to a hardware wallet right now. New to Unocoin? Above video shows how to sell Bitcoin and Unocoin to bank transfer process.
You can watch video or read the instructions given below. As of now, INR deposit and withdraw are not working on the exchange. From the navigation panel, click on hamburger icon appearing in the top right corner. Then from the option, click BTC. You can withdraw your INR balance by clicking on hamburger icon then Wallet. On the next page, you will be able to see your Unocoin INR wallet.
You can withdraw your money from Unocoin by clicking on Withdraw. Disclaimer : This post is for information purpose only. As you may already know cryptocurrencies are highly volatile therefore invest in them on your own risk. Your Email. Your email address will not be published.