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Buying Altcoins In India And State Of Crypto Exchanges

Buying Altcoins In India And State Of Crypto Exchanges

In India if you are looking to put some money into cryptos it’s not easy. Almost every site seems to be not accepting new users or taking lot of time to verify them or not allowing any INR transfers/withdrawals. I checked Btcxindia.com and coindelta.com. Both are not open for new users as of now. And been like that from couple of weeks it seems. So, you are left with very few options to trade cryptos. Zebpay on the one hand is pretty steady and verfication didn’t take more that couple of hours after uploading everything. But again not much options to put some money into altcoins there as well(e.g ripple etc).

You have Koinex where you can buy Bitcoins,Ethereum, Ripple Litecoin and Bitcoin cash. CoinDelta.com also offers Qtum and Omise go apart from the Koinex offerings(its not accepting users as of now).

The issue is and its a big one, we are seriously lacking in the exchanges which can offer us more options to choose from. Please note that there are almost 1300 odd different type of tokens and coins available with the list growing everyday. While I don’t expect everyone to offer everything in the whole world but I guess asking for top 100 might not be much or even top 50 will do.

With the limited options and with limited ways to deposit/withdraw money(don’t forget high charges), crypto exchange market really needs to up its game to cater to the high demand. The day is not far some big European or US company will set up shop in India and local companies will loose out on customers, just because they couldn’t cope up with the new customers or get their payment system in order.

Anyways if you want to go ahead and buy new types of cryptos through crypto signals which are not available in India, you need to take route of transferring your crypto stash from here to some other International exchange and then convert it to buy something as per your choice.

Meaning, suppose you have 1 Bitcoin, you withdraw it to your account on lets say Binance.com and then use to buy what you want from there. There are lots of guides available showing same. But I am going to do it personally and share all the steps required and how I went ahead with it once I complete transferring lets say ETH or BTC from my account on Koinex and buying something from Binance.com.

And yes you also can transfer back in form of accepted currencies on Indian exchange, if you want to change it to INR. I will update once my Binance account is active and I am successful in doing my first trade there using the process described above.

Brent

Brent

Brent Payne loves exploring the world and sharing his experiences, insights and opinions about the latest happenings in the world. Educating people through his stories is what he is passionate about

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