Quote from: Ctn on October 18, 2018, 05:03:39 AM

In my country the situation is pretty stressed up when it comes to buying and selling of the bitcoin. RBI which is central authority here has warned he local banks from denying the services to the crypto related bank account holders.

So we have only one option to trade and invest into the bitcoin and thats LocalBitcoin. I cant even think about the trading of crypto currencies into fiat currency directly as it would be tracked down and could lead to ban over accounts.

Now recently I am intrigued with the news that Unocoin one of the exchanger in India has now overcome with this situation by placing the ATM's in India. So I guess thats option #2.

Correct!! the situation in India has been worsened by the statement release by RBI and has made it really difficult for the people to undertake any crypto related transaction. Zebpay the most trusted crypto exchange in India was forced to shut down and that was a massive hit to the Indian crypto market.

And I was to also mention about the UNOCOIN, India's first cryptocurrency ATM launched in the city of Bengaluru. Right now the limit imposed for deposit and withdrawal is just 1000 INR, but still it's a shining ray of light for the crypto community.

It is a one bold initiative by the virtual currency exchange overruling the RBI's orders. Read more about this @ https://www.thenewsminute.com/article/india-s-first-cryptocurrency-atm-launched-bengaluru-90117

ahmad21

Posts

Merits