How did you figure out that ripple is going to shoot through the roof? Local Bitcoins is an online marketplace for Bitcoins kinda like india for Bitcoins. Bitcoin thorough reading of this quora will not only make quora strengthen the basics, but bitcoin puts you in the wallet knowledge level! Do let me know about the wallet you make. Keep in mind that new user transactions can be delayed up to india hours by VirWox.
Transfer a small amount in the beginning to buy very small amount of bitcoin. I hope I would have answered your query. Again they blocked my wallet for the reason of mistaken adjustment now they want recovery This is a very fraud app.. Hi Ankit, A wonderful write up, I must say. Meanwhile, the Reserve Bank of India has cautioned the users, holders and traders of virtual currencies, including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to, vide its press releases.
Have you converted your virtual currency back to hard cash, and deposited in quora account? Also, May I know if you have written bitcoin article on wallet For bitcoin there is https: No proper customer support. India is the supporting chart. This is what you read to identify opportunities.
Nishith Desai Associates, a leading law firm in the country says that cryptocurrencies are legal under all existing laws in India. Their point of view document is available here. Legal classification of gains from trading of cryptocurrencies. It is essentially an electronic document produced under a process and contains some information in electronic form. More detailed perspective about taxation of gains from trading in cryptocurrencies hint: Hope this helps you getting onboard this phenomenon and happy making some money!
Referral links that can earn you some Bitcoins on signup: Sign in Get started. Risk management and asset allocation The primary thumb-rule in investing in cryptocurrencies is to put only that much amount which you are comfortable in losing. Acquiring cryptocurrencies The simplest way the average investor can invest in a cryptocurrency is to outright buy some. It has offices in Ahmedabad, India. They provide only app to trade bitcoin. The app is very friendly to use.
Zebpay supports only Bitcoins. Unocoin is one of the first bitcoin startup of India. It has offices in Bengaluru, India. Coinsecure provides cheapest bitcoin rates because they operate like a real order matching exchange.
It has offices in Delhi, India and supports only Bitcoins. Koinex is a latest addition to cryptocurreny exchanges in India. It has its office in Mumbai, India. The rates are great and it supports all top market cap crypto-assets like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. Their customer support is not great though.
Bitcoin-India is a very young bitcoin exchange in with offices in Hyderabad, India. The best part is that it supports Bitcoins, Ethereum, Litecoin and Dashcoin.
Btcxindia is one of the first bitcoin exchange in India. It has offices in Hyderabad, India and it supports only Ripple at the moment. Ethexindia is a product of the same parent company as Btcxindia. It supports Ethereum and seems to operate like a real order matching exchange. Bitxoxo comes across as the fastest exchange in all aspects like KYC, transfers etc. Once you are comfortable with them, accrue it slowly just like SIP. And as I have also mentioned in the blog post, you should be ready to risk it all.
Therefore put in only that much amount with which you are comfortable. I was lucky that things turned out positive for me in such a short span of time.
Once you have decided on the decision, then there are many platforms to buy it. I do it on Bittrex. If you have indeed decided to go ahead with it, here are the steps which you need to take —. This you can do at Zebpay or similar companies. Question for your point 2 and 3 — Craeting account in Bittrex is seperate from Zebpay.
How do you transfer coins to Bittrex from Zebpay? Both — Bittrex and Zebpay are different entities and you will need to create different accounts there. Hi Ankit, First of all, Thank you for sharing your investment experience!! I have been following bitcoin for quite sometime now but never had the courage to invest in it. I am quite encouraged by your post and have registered on Zebpay will take three days for my details to get verified and will soon start investing.
Although I have read on how bitcoin works, I have to admit that I am not really fully aware of the impact that they will have. I am investing in cryptocurrencies solely on the promise of them being a future currency and hence the interest. I also wanted to know whether the returns from these investments are taxable or not coz no one wants to be on the wrong side of law: I know it happens. In-fact my trajectory was also similar.
So coming to tax. Let me know if you decide to invest. Price has gone through the roof. Therefore take the decision judiciously. Hello sir, Sir, did you use a saving account or current account? And Zebpay says it cuts the tax before they give back our profit, so we dont have to separately give tax to govt? Can you plz talk abt these concepts more.. Zebpay is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
But I was already shiting in my pants sitting on 6X profit. So decided to sell. Are you invested in any coin? And did you see the price rise of BTC?? It is now getting scary.
How much time does Bittrex takes to deposit the bitcoins back to our Zebpay account? Is that instant like intraday trading?? What are the trading hours of Ripple? Is our earnings official, i mean taxable. If so, do we need to pay tax separately or TDS? Please answer my questions. Sorry, out of the box question!! Bitcoin money was used by Ransomeware hackers to get the payments, is it also a possibility that this money is used in illegal activities or by terrorist organizations??
I want to earn money but not on that urge. It is a marketplace just like share market where someone buys and someone sells. I hope I would have answered your query. Hii… Ankit , Actually I am new to this world of virtual currency i. But i am researching about all this from last some days in internet and also read your and several other posts in quora so now i thought to take some healthy risk by investing in bitcoins. Just wanted to know can we direct buy Ripples XRP from https: HI Ankit , I have some good amount of bitcoin to invest in , can you tell which wallet you used to store altcoins, I have my bitcocin on a wallet which only supports bitcoin not others.
Ritesh I use blockchain wallet for storing bitcoins for long term otherwise I trade on bittrex. But now I feel outdated therefore need to research more players.
Puneet there is one — https: I have not tried it yet. For bitcoin there is https: But Unfortunately Btc increased 3 times and Eth increased 20 times.
On that time i had 80k earned via dream11 fantasy cricket site. But now im feeling so guilty abt missing those oppurtunity.. I need some one to guide me will you plz help me with it if you dont mind….
My dad gave promised me to give me some money to invest.. I would suggest you to start with small amounts and you should be totally fine even if you lose it. Another important thing is that you should keep long term perspective rather than short term. I will tell you where have I put my money. I have invested in Bitcoin, Ethereum and Ripple. Each one of them solve a real life problem and am confident that they will appreciate with time. Please note that I am not a trader but someone who reads and understands cryptocurrency and then take a bet.
Therefore please understand that my choices might not make money. Hi, Today I bought bitcoin worth rs from zebpay. Should i but ripple or litecoin? I somehow got to this link reading about how blockchain works.
This is a different world altogether. Kindly guide me on how can i start investing. Create an account on Zebpay. It is easy; just follow the instructions.
Transfer a small amount in the beginning to buy very small amount of bitcoin. Let me know once you have done this. Then I will guide you on how to buy other currencies. Hello Ankit, I second Divya.. I got to your site through Quora n I feel good reading your posts. I want to invest in bitcoins. Can you also pls help me once I complete the above step that was suggested to Divya? Thanks a ton again for the enlightenment through your articles..
Then you will have to transfer your bitcoins to Bittrex. From there you can buy other currencies. Within a week, I will do detailed post on Bittrex.
How did the withdrawal take place? Did you withdraw from bitrex and they transferred the funds to your bank account or did you first converted Ripple back to BTC n Zebpay and then sold and transferred the funds? So I transferred them back to zebpay and then cashed out. I could have done it from Bittrex directly but my CA advised against it.
After reading about your investment, I got curious to know more and invest in cryptocurrency. I have logged into zebpay and deposited rs to buy bitcoins But the transaction is still pending or processing. What is the next step and how do I invest in ethereum and ripple. Prakash I really like the new name you have given me. If more time has passed then first of all get in touch with them. Once Zebpay is sorted, next step is to create an account on any multi-currency exchange like Bittrex.
Once you have done this, you need to transfer btc to bittrex and there you can buy other currencies. I am sorry about the goof up. I have already invested in bitcoins and ethereum but how do I convert it to ripple. Which are the wallets for ripple and what are the documents required bcuz gatehub wallet requires lot of verification like Id and passport details.
So let me know the wallets for Easy access and the procedure to buy ripple other than bittrex. As above comments seem to suggest to transfer Bitcoins from zebpay to another wallet to buy another cryptocurrency? Am i missing something here, because it sounds complicated to me. I prefer to keep them in plain wallets. It was formerly known as MoneyBookers and today it supplies services for individuals and businesses as one.
However there are some exchanges that allow you to buy Bitcoins with Skrill. These exchanges are aware of the risk of fraud and will usually charge a premium for this service. Here are the top 4 options available today updated. BitPanda is an online exchange that accepts Skrill as a payment method. The fees are already incorporated inside the final amount. This is the lowest premium I was able to find on the market. BitPanda accepts customers mainly from Europe.
You will first need to open an account at VirWox. Once finished you will now need to fund your account with Skrill. You will then be moved to the Skrill payment page where you can either pay with your credit card, or if you have a Skrill account just log in. After the payment is cleared you will see the balance in your VirWox account on the top left.
23 Jun If you are looking for a basic understanding of cryptocurrencies (or Bitcoin in specific), I suggest you go through this Quora thread and this Coindesk article. Cryptocurrencies can be bought at an exchange but need to be stored in a wallet. Most exchanges in India also provide an integrated online wallet. 9 May As above comments seem to suggest to transfer Bitcoins from zebpay to another wallet to buy another cryptocurrency? Am i missing (2) I am being told by some that Bitcoins is currently illegal in India. .. how safe is wearebeachhouse.com, to invest directly in ripple? i read negative revies about it on quora. Reply. India's Most Secure Bitcoin Wallet Be a part of the Bitcoin evolution, which now has a U.S. $17+ Billion market cap. Start using Bitcoin now! Millions of customers trust and use Bitcoin, and thousands of merchants around the world are accepting Bitcoin as payment tokens for their products and services. Bitcoin India Wallet is.