Bitcoin in inr now

Bitcoin Price in India (BTC INR)

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Cryptocurrencies such as Bitcoin and Ethereum are getting competitive day by day in terms of returns. The price of Bitcoin has grown over four times and Ethereum by over ten times in the past year alone. Such returns have attracted many retail investors to dip their toes in this new and intriguing asset class. More youngsters or first-time investors are looking to invest in cryptocurrencies in India. Likewise, there are people speculating on the future value of Bitcoin.

In India, there are very few merchants who accept Bitcoin. So you can buy a Dell laptop with bitcoins or make a hotel or airline reservation and pay in Bitcoin. It does not make sense for Indian e-commerce companies to start accepting Bitcoin yet as few Indian consumers own bitcoins.

Bitcoin Price in India – BTC to INR Exchange Rate Live

Zebpay stocks vouchers from different service providers and if you own bitcoins, you can top up your airtime, for instance, using these pre-paid vouchers. You can purchase these vouchers in bitcoins from us. We do more than Rs 50 lakh sales per month, and we are doing this to grow the community.

Bitcoin INR (BTC-INR)

This number doubles every 3 or 4 months. When do you see widespread use of Bitcoin to the extent that people are using e-wallets these days? It is at its peak now. It has been the best performing asset since it was invented. In China and the US, the trade in Bitcoin is worth billions of dollars.

In India, we do a turnover of Rs crore a month. We are adding 1 lakh users every month.

BTCINR Crypto Chart

This will increase exponentially and you will see 10x growth every year. How do Bitcoin exchanges factor in taxation and prevent people from bypassing tax payment on transactions? This comes from self-regulation. We track all transactions on our exchange to ensure that all users comply with taxation norms. In the last week of March we ensure that all the rupee amounts you have in Zebpay are credited back to your bank account.

This ensures that you declare all profit and loss on your bitcoin trade on Zebpay. We do not allow users to buy and sell bitcoins unless they have completed their KYC. All buying and selling takes place only through bank accounts.

Paying in a Different Coin

Will direct peer-to-peer Bitcoin transactions bypassing an exchange be possible in future? It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins if they are ready to accept. You can transfer bitcoin to US universities to pay for university fees. This can be done without the intervention of a credit card company or a wallet or PayPal. But an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

Technically, an exchange like Zebpay can be replaced by say an automated escrow account. However, a trusted third party will always be required to resolve disputes. What steps should consumers take to safeguard themselves from Bitcoin fraud? The basic advice is that one should not invest in anything that one does not understand.

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