Bitcoin is a digital currency being traded worldwide. In most developed and developing countries, it is considered legal tender. In recent years, bitcoin trading is at boom. India is one of those developing countries where crypto trading is legal. You can buy and sell and hold bitcoin.
Many crypto exchanges provide the facility to buy and sell bitcoin in India. The most often asked question by the investors is ” how to transfer bitcoin to an Indian bank?” You can’t transfer bitcoin to an Indian bank directly. It takes two steps to transfer BTC to Indian Bank. First, you have to convert BTC to INR at any of the exchanges then you can withdraw funds to a bank account.
How to convert bitcoin to INR?
Bitcoin trading is being done worldwide and it is a legal tender in India. The old-age question asked by the people was how to exchange bitcoin to INR? Bitcoin can be exchanged for INR in many ways. You can sell it to your friend, exchange it at a peer-to-peer marketplace, at a bitcoin ATM at Kemp Fort Mall Bengaluru, and Online exchanges. India is one of those countries where bitcoin is used as a payment method.
You can accept bitcoin as a payment method and pay bitcoin against a payment. A peer-to-peer exchange platform gathers buyers and sellers together. Let’s take the example of Paxful that is an online P2p exchange where buyers and sellers of a bitcoin make their offers and accept the offers. If you are a seller then you can make an offer by writing your terms and conditions. If the buyer will accept the condition then he will buy from you.
Can we convert bitcoin to cash in India?
Bitcoin to cash conversion is an easy process. Most new investors ask the question “how can we convert bitcoin to cash?” As discussed above the methods to convert bitcoin to cash in India. Online exchanges are considered the best option by bitcoin traders worldwide.
You can buy and sell bitcoin through online exchanges conveniently any time anywhere in the world in a matter of few clicks. Some of the best online exchanges are WazirX, CEX.io, Coinmama, and Bitcoinscashout.com. The reliable and easy to use is bitcoins cashout and also it charges a low fee for bitcoin exchange. The procedure to convert bitcoin into INR at bitcoincashout.com is as follows:
- Open the website on a web browser
- Enter the bitcoin address and write the amount of bitcoin you want to sell and select currency as INR.
- Then press “Continue” you will get the next page. Enter your Indian Bank account as a payment method
- You will receive a payment within few minutes
Coinbase to Indian bank account:
Coinbase is a platform through which one can buy sell and store bitcoin. Coinbase provides the wallet at which you can store bitcoin and it keeps them secure from being lost or hacked. You can easily withdraw bitcoin from Coinbase to a bank account in those countries where Coinbase is allowed. Indian is one of those countries where it is allowed. You can convert bitcoin from Coinbase to an Indian bank account.
To do so, first, you have to convert bitcoin to INR at Coinbase fiat wallet. Then transfer the funds to a Coinbase Commerce account. To withdraw your funds, log in to your Coinbase Commerce account and click on the Withdraw button by selecting the bitcoin in the cryptocurrency dropdown. A window will pop up where you have to enter an amount of bitcoin which you want to withdraw and select the payment method as Indian bank.
Perfect money to Indian bank account
Perfect money is a leading financial service that allows its users to make instant payments and to make money transfers securely online for their internet business. Now the question that arises is ” is perfect money available in India?” The answer to the question is yes. You can open an account from India and you can withdraw perfect money to an Indian bank account. Perfect money is also an option to withdraw bitcoin to an Indian bank account. To withdraw perfect money to an Indian bank account you need to follow some simple steps.
- Log in to your perfect money account
- Select the trading account you would like to withdraw funds from, select withdrawal currency as INR, then enter your Perfect Money account number, and specify the withdrawal amount in your trading account currency.
- Select the Indian in which you want to send the transaction
- A summary of transaction will be shown.
