Indian Central Bank banned Banks to give Banking services to Crypto Exchanges , Now How to get INR Indian Rupees in India in Bank
Friends,
As we all know RBI Indian Central Bank has issued Circular on 6th April 2018 to all the the Indian Banks to stop giving banking services to all Crypto exchanges & individuals who are dealing in Cryptocurrencies within next 3 month .
And that 3 months will get over on 5th of July 2018. We all were expecting the way out by RBI to get out of this blanket Ban. But still no solutions by any authorised body in India. So from 5th July people in India will not be able to transfer INR to there bank account from crypto exchanges .
Many exchanges have filed a petition against RBI Circular on banking ban in the Supreme Court, The next hearing for the same in on 20th July 2018.
Now the Honourable Supreme Court of India will decide to give Stay on Cryptocurrency , But the issue is banking ban will start from 5th July 2018 & SC hearing is on 20th July 2018. Till then how we will be able to buy & sale our cryptocurrencies in Indian rupees INR in India ?
What are the Solutions for this ?
Do not worry, We have many solutions for this in India Like Peer to Peer trading , Some international websites give INR withdrawal in Indian Banks.
What is Peer to Peer (P2P) Trading ?
A peer-to-peer (P2P) service is a decentralised platform whereby two individuals interact directly with each other, without intermediation by a third-party. Instead, the buyer and the seller transact directly with each other via the P2P service.
With the help of P2P you will be able to withdraw INR in your bank account for selling cryptocurrencies, There are many India & International Platforms for this.
In India there is a Koniex Loop is coming which will give you P2P platform.
Wazirx is also there
Some international platform also there like LocalBitcoins for P2P trading
Or there are some International Website Like Skrill & Neteller who can give you withdrawals in INR in Indian Banks via Bank Transfer.
So in short we can say , you need not to worry for bank withdrawal in India , It may take time but you will be able to withdraw in INR also after 5th July 2018 .
So friends this is what i have to say on this , if you have any question or any query you may comment and ask , and also please share which method you will going to use for INR withdrawals in India
@bitcoinexpertind
@bitcoinexpertind truly there are many solutions for withdrawl, but i want to know will in p2p transaction which will be adopted by wazarix ,we get the buyer if we want to sell our at high prices . beacause mostly people want to buy at lower price as possible
time will tell this buddy
It's really great way to exchange crypto currency and get local currency.
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How Skrill will work
Hello @crytojolt
1st you have to sale bitcoin or convert it into dollars and then usd will be converted into INR and transferred into your bank account . :)
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