Cryptocurrency has rapidly gained popularity in India, attracting investors, tech enthusiasts, and first-time buyers alike. With the right exchange, purchasing Bitcoin or USDT in India is simple and legally compliant. Whether you're diversifying your portfolio or exploring blockchain technology, this guide provides everything you need to know.
Step-by-Step Guide to Buying Bitcoin in India
Buying Bitcoin on CEX.IO is quick and secure. Follow these steps to get started:
- Log in to your CEX.IO account.
- Navigate to Instant Buy.
- Select Bitcoin (BTC) as your preferred asset.
- Choose USD, EUR, or GBP as your fiat currency.
- Enter the amount you wish to spend or the crypto you want to buy.
- Pick your preferred payment method.
- Review transaction details carefully.
- Complete the purchase following on-screen instructions.
👉 Start trading Bitcoin securely on CEX.IO
Legal Status of Cryptocurrency in India
India’s regulatory stance on cryptocurrency balances caution with innovation. Key points include:
- Legality: Crypto is permitted but not recognized as legal tender.
Taxation:
- 30% tax on crypto gains.
- 1% TDS on certain transfers.
- Banking: Banks can now facilitate crypto transactions, though some remain cautious.
- Regulation: The RBI monitors risks but hasn’t banned crypto, focusing instead on balanced policies.
- Blockchain Growth: India actively explores blockchain applications, signaling long-term interest.
FAQs
Is cryptocurrency legal in India?
Yes, you can legally buy, sell, and trade crypto via compliant platforms like CEX.IO. However, it’s taxable and not considered official currency.
Are Bitcoin ATMs available in India?
Bitcoin ATMs are rare due to regulatory ambiguity. Most transactions occur online through exchanges.
Which crypto apps are legal in India?
CEX.IO’s Android and iOS apps operate legally, adhering to KYC/AML rules for secure trading.
Can I buy USDT in India?
Yes, USDT and other stablecoins are available on exchanges like CEX.IO, supporting multiple payment methods.
👉 Explore trusted crypto trading platforms
Final Notes:
- Ensure compliance with local tax laws.
- Use reputable exchanges for secure transactions.
- Stay updated on regulatory changes for informed investing.
This guide equips you with essential knowledge to navigate India’s crypto landscape confidently. Happy trading!