Is it legal to trade bitcoins in india?

Joined
Nov 21st 2019
Location
india
Hello everybody,
How to make profit from bitcoin trading business (in india)?
I would like to know weather trading of btc is safe and legitimate business in india, are there any legal issues in this ?
Accurate replies are appreciated
Cheers everyone
 
Joined
Nov 21st 2019
Location
United States
Bitcoin is not illegal in India per-se in the feeling that there is no regulation which places a blanket restriction on dealings in Bitcoin. The RBI in a testimony submitted prior to the high court of India claimed that the constitution has not specified any legal system for digital currencies.

Mentioning the provisions of The Coinage Act as well as The RBI Act, the testimony described that the existing lawful structures neither acknowledge Bitcoin as currency neither money. They are not a valid settlement system.

Do you think cloud mining is better than trading? As we know trading involves a lot of risks, so using platfroms like Hashflare, Genesis Mining, etc are profitable?
 
Joined
Nov 29th 2019
Location
PT
I think you shouldn't have any problems. If you want to buy bitcoin go to your bank and if you don't trust banks just search for any near bitcoin ATM where you can buy with cash bitcoin and you get a QR code with your private keys.
 
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