How to buy Crypto and Bitcoin in India

Cryptocurrency has become a buzzword in India, attracting everyone from seasoned enthusiasts to curious first-timers. One of the reasons might lie in the fact that buying Bitcoin or USDT in India is more straightforward than one might think. 

With a few simple steps and the right Bitcoin exchange, users from India can dive into digital assets while staying within the country’s legal framework. Whether you're looking to diversify your portfolio or explore cutting-edge technology, this guide has you covered. Let’s find out how to buy Bitcoin in India through CEX.IO.

Step-by-Step Guide

Buying Bitcoin at CEX.IO is straightforward and starts by registering and verifying your account. This way, you receive a free online Bitcoin wallet, which you can use for not only purchasing but also selling, trading, storing, and converting Bitcoin, as well as other 200+ vetted assets. Here’s how to do it: 

1. Log in to your CEX.IO account. 
2. Navigate to Instant Buy.
3. Choose Bitcoin (BTC) as your preferred asset. If you want to learn more about the current value or BTC market cap, kindly visit our crypto prices chart. 
4. Select USD, EUR, or GBP as your primary fiat currency.
5. Specify the amount of fiat you want to spend or the amount of crypto to buy. 
6. Choose your preferred payment gateway. 
7. Review all transaction details. 
8. Initiate and complete the transactions following our page instructions. 

Legal Framework and Regulations in India

India has taken a cautious but open approach toward cryptocurrency regulation. Here’s what you need to know:

• Legal Status: Cryptocurrencies are not banned in India but are not recognized as legal tender. You can buy, sell, and trade crypto within the framework of existing regulations.
• Taxation: The Indian government has introduced a 30% tax on gains from cryptocurrency transactions and a 1% TDS on certain crypto transfers.
• Financial Institutions: While banks were initially prohibited from dealing with crypto-related transactions, the Supreme Court overturned this ban in 2020. However, institutions still exercise caution when facilitating crypto services.
• RBI and Regulation: The Reserve Bank of India (RBI) has shown concern over cryptocurrencies' potential risks but has not implemented any new bans. Instead, the government is exploring regulations to balance innovation and consumer protection.
• Blockchain Development: India is actively looking into new blockchain projects, signaling an interest in fostering the technology alongside regulating its use cases.

(H2) FAQs

(H3) Is crypto allowed in India?

Yes, cryptocurrencies are allowed in India. You can buy, sell, and trade digital assets through compliant platforms like CEX.IO. However, they are not considered legal tender and are subject to taxation.

(H3) Is there a bitcoin ATM in India?

Bitcoin ATMs are not widely available in India due to regulatory uncertainties. Most transactions are conducted online through exchanges or wallets.

(H3) Which crypto app is legal in India?

CEX.IO mobile apps for Android and iOS are popular and operate within the current legal framework. Ensure the app complies with KYC and AML requirements for safe trading.

(H3) Can you buy USDT in India?

Yes, you can buy USDT and other stablecoins through CEX.IO or any other exchange of your choice. Keep in mind that our platform supports various payment methods and trading pairs that might satisfy the curiosity of both experienced and novice enthusiasts.