Sad News For All Indians. Bitcoin Trading Ban In India!! What will happen next?

in #bitcoin5 years ago


As you all know, a few months back RBI(Reserve Bank Of India) put a ban on crypto trading giving 3 Months time to all exchanges to clear their dues and settle the account of every trader. This deadline came to an end today and has created a huge problem for every person who still had some investment left in their exchange accounts.

Now the only way to get your money back is through P2P Trading in India. For P2p trading, the only exchange working on this project is WazireX, who will soon introduce their P2P platform as per the news in the air.

Major Highlights:

  1. Crypto holder will now have to search for persons online on the exchange who are ready to pay for your coin.

  2. No exchange or Crypto trading firms will get any loan from any bank in India.

  3. They won't be allowed to open any kind of corporate account.

  4. People might have to pay a premium of Rs. 4,30,000 for trading bitcoin through any exchange.

  5. A major thing happened today was that even Zebpay the renowned crypto exchange has withdrawn its INR services with immediate effect.

But RBI has only asked banks to withdraw their services from Crypto Trading Firms and not banned cryptocurrency itself. So, there is a possibility that exchange might introduce payment options through PayPal. The only thing that might get affected is the cost of trading crypto.

Hope this post was informative and will help you plan your decisions accordingly.

Do share your views and ideas about this



Nice information share my friend.keep support me.

Yeah. Thank you.

Its a sad news for Indians, but we will find the way for crypto trading.

Hum Indians to h hi jugaardu.

Nice information

Thank you bro.

I have no clue what our government is thinking, I have no word to say.

Your. Where do u live bruv?

😂😂😂😂😂 wo miss typed ho gaya, our hi likha tha, but Grammarly bhai ne Google bhai ki tarah autocorrect kar diya jyada dimag laga ke.

hahaha...mujhe laga pluto wagera se ho tum.

😂😂😂😂😂😂, bhai itne paise kaha pluto jane ki liye.

i think koinex will also use p2p method i read it in somewhere

Its services are real slow. I don't suggest koinex

Very sad😔 news for Indian traders

Its horrifying not just sad.

i hope goverment will lift the ban on bitcoin?

I hope ke saath question mark. Tumne b sanju dekhi kya? 🤔

No need to take tension, we have another way to withdraw.

And that is what? Wazirx. There you need to search a person to buy exactly that coin that u owe.

Its very bad news about crypto in india

Yes it is.. but we are Indians yaha ban baad mai aata h jugaard pehle.