India has going to ban cryptocoins will it be true
India has going to ban cryptocoins because the value of the coins is going down in daily so it will became a fall in price of their GDP . So the RBI has decided to ban cryptocoins in india.
easy solution: NO
believe Bitcoins are banned in India:
The transactions of bitcoins will be turned off in India. you’ll not be able to convert your Rupees to BTC or vice versa.
organizations like Zebpay and Unocoin will have to close operations in India however the commercial enterprise is so profitable that they will move the organization to a few other united states of america like Singapore and begin ops once more.
about the money in present Indian wallets, the RBI will difficulty tips about what to do with present BTC and cash transferred in Zebpay or Unicoin wallets.
move your money to different wallets out of doors India like Blockchain pockets or shop your cold Wallets or Paper Wallets which are lots safer for long term.
a way to convey money back to India?
once the Bitcoins are despatched to wallets outside India, you can convert them to Euro or bucks and switch for your Indian accounts or a relative’s account in some other u . s . a .. Ask them to ship your money via twine transfer or deliver it to you each time they’re in India. sure, a few expenses could be deducted however when you have appreciated the value of your BTC enough, it’s going to he negligible.
Is there a opportunity of Bitcoins being banned in India?
I consider no. The reason is our own RBI is doing studies and writing white papers about the technology. The blockchain tech may be a huge recreation changer. See how Etherium, Sia, Gollum and many more are chaing so many matters.
The authorities can ask the exchanges to do a bit extra rigorous KYC for its clients so that they understand who all are investing and the way to tax them in the future.
So need to you be investing in Bitcoins or blockchain with out thinking about the repercussions of India banning them inside the future?
Ofcourse, you should attempt.