Exchange Indian Rupee / INR to Bitcoin and vice versa

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Compare your Top 3 Bitcoin Exchanges
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Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
80 80
Pro
  • “Real” Decentralized Exchange
  • Anonymous
  • Account creation is fast and very easy (not required to complete KYC/AML)
  • Accepts Fiat payments
Contra
  • In Business only since 2016
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
Yes
Security Excellent Trading
Futures? None
Derivatives? No
Margin Trading? None
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84 84
Pro
  • Safe and decentralized trading
  • Arbitrators
  • 2-out-of-3 multisig security in trades
  • Wide selection of FIAT and Crypto Currencies
Contra
  • They need more aggressive advertising
  • More active development
  • They need to team up with other companies
  • High fees
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.001% - 0.009%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Anonymous P2P
90 90
Pro
  • Many coins and payment methods supported
  • Multi-blockchain P2P exchange
  • Transparency about company background
Contra
  • Reliability of service is depending on the sellers on the platform
  • Too many options to choose from can paralyze users
  • High crypto prices
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
1.00%
Security Medium Trading
Futures? No
Derivatives? No
Margin Trading? No
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90 90
Pro
  • Non-custodial exchange
  • Highly recognized team
  • Multiple available features
  • Low transaction fees
Contra
  • No mobile app
  • No trading tools
  • Limited Swaps/Purchases
  • Not an anonymous service
Has been hacked? No Fees
Deposit Fees:
No (only network fees)
Withdrawal Fees:
Trading Fees:
0.75% - 4%
Security Strong Trading
Futures? No
Derivatives? No
Margin Trading? No
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86 86
Pro
  • Hundreds of supported cryptocurrencies
  • Multiple trading products and markets
  • High trading volume
  • Transparent company background
Contra
  • Poor customer service
  • KYC required for full usage
  • Many complaints towards Bybit's policies
  • Comparably limited amount of trading pairs
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No (miner fee only)
Trading Fees:
0% - 0.1%
Security Strong Trading
Futures? Yes
Derivatives? Yes
Margin Trading? up to 100x
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Easy to use
76 76
Pro
  • High liquidity
  • Integrated debit and credit cards
  • Newbie friendly
Contra
  • Major violations of users privacy
  • High Trading Fees for < $50k Trading / Month
  • Segwit still not supported ( = high TX fees )
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.50%-0.05%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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For India
60 60
Pro
  • Extremely easy to navigate
  • Referral Program
  • Community Involvement
  • Paper Wallet
Contra
  • Expensive Bitcoins
  • Negative reviews (Customer service related)
  • Customer Service is below average
  • Verification Process is tedious
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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82 82
Pro
  • Trade gift cards for BTC instantly
  • A wide variety of payment methods and currencies accepted, at least in theory
  • Easy to join and get going
Contra
  • Mixed reviews
  • Slow customer support
  • High commissions charged (by the seller) for buying Bitcoin with uncommon methods or in non-mainstream currencies
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.00%-1.00% (with gift cards up to 5%)
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • App-based BTC exchange/wallet
  • Competitive rates
Contra
  • Focused on the Indian market
  • Impossible to create an account if you’re not from India
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
0.0002 BTC
Trading Fees:
N/A
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
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Best INR / Bitcoin Exchanges

Brief History of INR/BTC trading pair

INR/BTC tradingOn 8 November 2016 the Government of India announced the demonetization of ₹500 and ₹1000 banknotes with effect from midnight of the same day, making these notes invalid. This single step emerged India to be one of the biggest cryptocurrency users in the world in the coming months. People wanted to save their wealth through cryptocurrencies which drove the price on local exchanges to significant mark ups. The currency crisis has been resolved by now, but the interest of cryptocurrencies remained in the focus of those who were exposed to the technology.

According to a recent report, INR/BTC trading could be up to 10% share of the global bitcoin trading market. The number is growing continually during the past months due to the increasing interest towards cryptocurrencies. The trading activity has spread across local exchanges like Unocoin and Local Bitcoins. There are a number of startups that have opened Bitcoin wallets in India, making it easy to buy Bitcoin in INR, the most popular ones are Unocoin and Zebpay. All of these have seen a spike in downloads recently.

The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India. The economy of India is the sixth-largest in the world measured by nominal GDP. The country is classified as a newly industrialized country, and one of the major economies, with an average growth rate of approximately 7% over the last two decades.

Exchange INR to Bitcoin

Exchange INR to bitcoinAlthough a couple of years ago for the majority of India, dealing in cryptocurrency is still a very new concept, there has been a couple of startups on the market who wanted to make bitcoin trading with INR as easy as possible. Thanks to their effort, a recent study showed that 97% of the participants knew what bitcoin is, although cryptocurrency usage is still at a low level.

There are two main bitcoin exchanges in India which are popular places to trade INR against BTC. Unocoin is one of India’s leading bitcoin company with their more than 150k users. It enables Indians to buy, sell, store, use and accept bitcoin. The company was founded in July of 2013 in the town of Tumakuru, Karnataka and later moved its operations to Bengaluru. Zebpay has been the first Indian bitcoin exchange on the market, it has been founded in 2012. Their headquarter is in Gujarat state.

INR/BTC Country Specific Regulation: Bitcoin in India

On 28 December 2013, the Deputy Governor of the Reserve Bank of India, K. C. Chakrabarty, made a statement that the Reserve Bank of India had no plans to regulate bitcoin. This was the first government official to declare the legality of bitcoin in the country.

Trade Indian Rupee against bitcoinApart from the neutral opinion on bitcoin, the Reserve Bank of India has just warned the public a couple of time during the past couple of years about the risks associated with the usage of cryptocurrencies. However, the official opinion of the government has changed in 2017.

During the spring of 2017, India’s Ministry of Finance was actively investigating the legal status of bitcoin and considering the possibility of regulating the market.

In June 2017, CNBC India announced that the Indian government committee has decided that they have ruled in favor of bitcoin. Currently, they are establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term in the country.

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