Bitcoin may be converted to cash in various ways, including crypto exchanges, Bitcoin ATMs, Bitcoin Debit Cards, and Peer to Peer Transactions. You may do this by using Bitcoin exchanges like WazirX. You may also sell Bitcoin for cash faster and more anonymously through a peer-to-peer marketplace.
Is it legal to sell crypto in India?
Is Cryptocurrency In India Legal or Not? Cryptocurrencies as a payment medium in India are not regulated by any central authority. There are no rules and regulations or any guidelines laid down for settling disputes while dealing with cryptocurrency. So, trading in cryptocurrency is done at investors' risk.
Can cryptocurrency be converted to cash in India?
Another method of cashing in your cryptocurrency is by using crypto-based debit cards. You can add your digital money to your crypto debit card, which will automatically convert your cryptocurrency to a fiat currency (INR in your case) of your choice.
How do I sell my crypto for cash?
Visit a cryptocurrency exchange. Create an account and verify your identity as required. Follow the website's instructions to sell your bitcoin (BTC) or other digital asset. Withdraw the funds to your bank account.
Is selling crypto taxable in India?
Summary; The Finance Act 2022 was the first law to recognize Virtual Digital Assets (VDAs) in India and introduced crypto taxes. Profits from selling, swapping, or spending VDAs - including crypto - are subject to a flat 30% tax, regardless of whether you have a short or long-term gain.
How do I buy Bitcoin in India?
How to Buy Bitcoin (BTC) in India
- A. Credit Card and Debit Card. If you are a new user, this is the easiest option to purchase Bitcoin.
- B. Bank Deposit. Transfer fiat currency from your bank account to Binance, and then use the amount to buy Bitcoin.
- C. Third Party Payment.