How to trade cryptos legally in india?

Hey folks,
I would like to know about indian law first before getting into trading business. In this era, are there any legal issues in trading bitcoins or other crypto currencies. If there are no issues legally. where do I get started ?
Waiting for valuable reply from this forum members
Regards.
Jumbala

Bitcoin or any cryptocurrency is not legal tender in India. The RBI, India’s central bank has buying and selling or any kind of dealing or service in respect of cryptocurrencies. It is in view of inherent risks involved in its trade as their market value is highly unstable.

I think as even the safest exchanges like Bitfinex get attacked many times regardless of their safety protocols, RBI forbade any kind of deals with it. Have you every used Bitfinex personally? What are your views.

1 Like

Hi john,
What you said is kinda true. RBI is not supporting cryptos as far as I know. Well talking about bitfinex I would say read it’s a good platform for safely trading and their support team is around the clock everyday anytime. That’s a good thing the deals done through bitfinex are properly secured and dealt through escrow so no need to worry about losing your money.
Cheers