Zebpay Bitcoin Price

Wild West to crypto best: how compliance separates cowboys from champions

At the heart of early cryptocurrency was the ideal that cross-border transactions could exist outside the system, untraceable and pseudonymous. That’s about to change.
The Financial Action Task Force (FATF) is one of the most powerful standards-setting bodies on the planet, and as reported by Bloomberg, is due to recommend the most important regulatory change ever to hit the cryptocurrency industry.
There’s a new sheriff in town for crypto.
The FATF wants regulators to instil recognisable user data at the heart of all new rules on cryptocurrency trading and transactions.
The imposition of this so-called ‘travel rule’ represents a trying time for the industry. Blockchains are not, on the whole, designed to register this kind of on-chain identifying information.
Some would argue that forcing old-tech rules onto crypto will decrease transparency, not improve it.
But whether the rule comes to fruition or not in its current form is a moot point. The outcome is the same: major players will be forced into closer collaboration with regulators and with one another. And as we know, fully-regulated businesses can attract better, more secure funding from more sophisticated investors.
Kay Why See
From Malaysia to San Marino, Switzerland to Wyoming, forward-thinking states and nations are writing laws to pull digital asset exchanges into their day-to-day oversight.
Reputable and regulated exchanges – just as in the mainstream equity world – require investors to identify themselves if they want to buy crypto-assets.
This is because modern money transfer laws all require some level of Know Your Customer (KYC) process to identify where money has come from, and where is it going.
Even Shapeshift, once the darling of the anonymity crowd, has had to fall in line. CEO, Erik Vorhees, announcing the layoff of a third of its workforce, admitted that failing to prepare to share user data for KYC had devastated the company financially.
Those that can prove they will work with the system, not against it, will be allowed to reap the rewards.
As proof, the world’s largest digital asset exchanges will sit down with global policymakers in Japan later this month for a crucial meeting to determine how the FATF proposal will affect the industry.
The meeting, which coincides with the G20 summit in Osaka, will count exchanges like Coinbase, Kraken, Huobi and the Goldman Sachs-backed, Circle among its numbers.
As digital asset professionals we need to be in close contact with regulators, putting forward our case and making sure the benefits of what we bring to the table are heard.
Facebook creates crypto buzz
Facebook’s Libra cryptocurrency has ignited mainstream interest in the space once again.
Technical details of the project have now been shared in a 29-page whitepaper, borrowing from Bitcoin and Ethereum to power a new global currency.
And regulation was there from the beginning.
Libra, Bitcoin and Ethereum putting crypto on the map.
It’s no accident that Mark Zuckerberg went to the Commodity Futures Trading Commission (CFTC) to talk about how his in-house crypto would work, long before it ever came to market.
The cynicism and suspicion that once characterised regulatory approaches to crypto assets is on the way out, too.
In fact, the CFTC, which oversees the US derivatives and futures market, has grown much fonder of blockchain.
Officials even suggested in a June 2019 speech to the Italian securities regulator, CONSOB, that blockchain-based records could have helped to prevent the 2008 financial crisis.
Outgoing chairman J. Christopher Giancarlo said: “Imagine if regulators could have viewed a real-time distributed ledger […]to recognise anomalies in market-wide trade activity and diverging counterparty exposures indicating heightened risk of bank failure?”
He added: “What a difference it would have made a decade ago if blockchain technology on a private distributed ledger accessible to regulators had been the informational foundation of Wall Street’s derivatives exposures. At a minimum, it would certainly have allowed for far faster, better-informed, and more calibrated regulatory intervention instead of the disorganised response that unfortunately ensued.”
Fintech firms should not be afraid of regulators. Quite the opposite: close collaboration is key. The right conversations at the right time can transform your prospects and bring funding to the table.
Inside, not outside
At one time cryptocurrency was content to exist outside the financial mainstream. Its anonymity made it a pariah, its volatility a joke, a bogeyman to scare financial advisers and bring them out in a sweat late at night.
But this scrappy outsider is changing its ways. The market is maturing. It was unthinkable 10 years ago that Bitcoin could become a stalwart of the financial system. But here we are.
What was once underground is now mainstream.
Perhaps related is the fact that the US Security and Exchange Commission’s Office of Compliance Inspections and Examinations has ramped up investigations by 10% year-on year and marked out digital asset broker-dealers, exchanges and traders for special attention in its 2019 priorities list.
Where once large investors saw only risk in digital assets, they now see opportunity. These are pension funds and hedge funds, those whose job it is to allocate assets for millionaires and billionaires, and who control the future purchasing power of entire populations.
Dow’s Marketwatch explains how institutional investors are now bullish on crypto, backed by record highs in the Bitcoin futures market.
When the owner of the New York Stock Exchange launched digital asset exchange Bakkt in 2018, the veil was lifted and the idea that cryptocurrency would be relegated to a mere sideshow ended. Bakkt will begin testing its Bitcoin futures and custody in July 2019.
Interdealer broker, ICAP, is entering Bitcoin derivatives, too. This $568 million-a-year revenue business looks after trades for investment banks and large asset managers.
Speaking to Bloomberg, the joint head of digital asset markets Duncan Trenholme admitted: “Every institution is on an educational journey. Many are exploring how tokens can legitimately be traded or stored and I’d expect more projects to hit the market over the next year or two.”
Note that key word. Legitimately. Within the rules.
The question we face is not whether regulation is necessary for digital assets, but how digital asset businesses can best work with regulators.
Looking forward
Securing the correct licence can transform the value of fintech assets. Working within the system and fulfilling compliance obligations is costly, sure. In fact, regulatory costs for financial institutions could double in the next decade.
But financial regulators can open massive markets for the best fintech products. Some economies, like South Korea, have recognised the industry’s huge potential but aspects of regulation like cryptocurrency taxation still exist in a legal grey area.
Others, like India, are moving to follow a shadow banking ban for cryptocurrency firms with an incredible 10-year jail sentence for trading in digital assets. Large Indian crypto-exchanges like Zebpay and Coinome, have been forced to shut their doors in such a harsh and uncertain regulatory environment.
At the same time, one of India’s largest and most powerful tech lobbies is trying to make the case to the central bank for legalisation and regulation. These conversations are vital.
Maxim Bederov
One example we should all watch closely is that of Switzerland’s SIX exchange. It became the first in the world to debut an exchange traded product for cryptocurrency. Now, the Amun Crypto Basket, tracking the prices of Bitcoin and Ethereum, sits happily alongside exchange-traded products (ETPs) for gold, oil, silver and other traditional commodities.
Amun had a keen eye for regulatory standards and is reaping the rewards. It should come as no surprise that the most recent ETPs listed on SIX are all by Amun. Single-asset funds for Ripple and Ethereum arrived in 2019, for example. By contrast the last new traditional commodity ETPs debuted way back in 2013.
This is fintech working at its best, disrupting the market with the regulator’s backing, attracting institutions and setting the new standard for investment.
By Maxim Bederov
* More Details Here
submitted by sa007sammy to BankingInfo [link] [comments]

Reddit, what are the taxes on crypto which someone has been holding since years with no buy price? Please help. [ASK]

Using a throwaway for this.
I am a 17 y/o turning 18 next week. So, basically 18 but I think this might be relevant for taxes.
I have held Bitcoins since 2011-12 where I got them for free on some posts on bitcoinforum when they were practically worthless.
I have sold a few lakhs worth last year (2016) on my mom's account and since the total income was <5 Lakh, it didn't matter.
Over the last year, I have traded them a little bit too with other altcoins.
Now my crypto portfolio has approached ₹1 Cr and I think it's time to sell 'em all. So, I have the following questions:
submitted by thisthrowawaycrypto to india [link] [comments]

BTC is looking to trade positively above the intra-day support of $8,700 expect it to breach 20 DEMA ($9,100) to test next levels of resistance at $9,400

Bitcoin currently is trading at $9,017 representing an indecisive move in last 24-hours with change in price is almost zero. We mentioned in our previous analysis about BTC working below longranged descending line and should test the important support of $7,200 which is exactly what followed over the week.
BTC post testing the important support close to $7,200 gained immediate strength along the baseline and reversed about 20%+ making the market capital of the same get back to $153 Bn. The above pull-back was accurately predicted by us in our previous blog analysis.
Chart Complete Analysis
At present, BTC is looking to trade positively above the intra-day support of $8,700 and we expect it to breach 20 DEMA ($9,100) to test next levels of resistance at $9,400 and the new downward trend line which also collides with 75/100 DEMA currently working at $10,200.
A further breach of the next level, will make BTC gain confidence to reach the most important resilient level of $12,000 which if breached as a day-close will get BTC in altogether a new Bull-Run.
For the week, we expect BTC to be inside the positive trading zone of $7,200-$12,000 where traders can approach the idea of going ‘Bulls on dips’ with intraday supports of $8,700 and $8,200.
Our analysis would be invalidated if BTC falls below the crucial level of $7,200.
submitted by hodley to BitcoinMarkets [link] [comments]

India’s RBI and Bitcoin

Hey Folks !!
As You All Know RBI has Repeatedly Cautioned Users , Holders and Traders of Virtual Currencies , Including BITCOINS , Regarding various Risk Associated in Dealing with such Virtual Currencies on Following Dates:
December 24, 2013 February 01, 2017 December 05, 2018
Finance Minister Arun Jaitley Kept on Saying that We Have Made a Committee to Analyze and Discuss the Matter of Bitcoin and other Cryptocurrencies and Waiting for it's Report. Meanwhile RBI (Reserve Bank of India) Suddenly Sent Notices on 6th April 2018 to Exchanges and Banks About Not to Deal with Bitcoin and Cryptocurrencies with Immediate Effect and Gave Three Months Time to Close the Operation.
Many Petition Were Filed Against RBI's Decision and Brought the Matter to High Court. Hight Court Simply Denied the Appeal and Said that all Such Matter Regarding Bitcoin and Cryptocurrencies Shall be Discussed Only in Supreme Court. Before Few Days SC (Supreme Court) also Said Banks and Appellant to Resolve the Matter at Their Level.
The Next Hearing Will Be On 20th July, 2018 in Supreme Court.
What Will Happen On 6th July?
The Crypto to Fiat Operation of Exchanges Like Zebpay , Unocoin and Other Indian Exchagnes Will Be Stopped On 6th July, But Crypto to Crypto Trading Will Be Operative.
Meanwhile Indians..!! You Guys Can Trade Your Bitcoins in Localbitcoins For These Days**
Do You Need To Worry About it?
No, Not at all.
We Have Found Something Which Needs To be Discussed Here.
A Person Named Varun Sethi Filed an RTI Against RBI On 9th May and Asked the Following Questions :
  1. You( RBI) Warned People About Not to Deal In Bitcoin and Cryptocurrencies Several Times (Three Times ).
    Did You Make Any Committee for this ?
    RBI's Answer : No
  2. Can You Provide us the Members Details of Committee?
    RBI's Answer : We Have Not Made and Committee so We Can Not Provide Any Details.
  3. How did You Come To Know about the Risk Associated With Bitcoins and Other Cryptocurrencies
    RBI's Answer: What is Sought is Not Information as Defined in Section 2(f) of the RTI Act 2005. ( According to this Act they said that Such Type of Information about Blockchain and Bitcoin, Any Evidence , Any Paper , Any Model or Any Electronic Material is not avaiable Online)
  4. Did You Collect Any Information About Blockchain From Any Other Countries Federal Bank
    RBI's Answer: No
  5. Did You Take Any Measures To Adopt Blockchain Technology in Banking Sector
    RBI's Answer: No
  6. Does These Rules and Regulations Apply on State Bank of Sikkim?
    RBI's Answer: State Bank of Sikkim Comes Under Us But We did not Provide any Notice to them
Can You Guys Look at the Answers of RBI. They did make the decision Without Any Adequate Reserach Which is Merely Speculative one. We Belive that Cryptocurrencies are More likely to be Regulated Instead of Ban. Regulations do Require Comprehensive Sets of Rules Which Requires Some time too. Whithin Few Months or May be Few Years it will Be Regulated in India.
HODL Life..!!
submitted by hardy_z to Bitcoin [link] [comments]

buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia

buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia

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submitted by justvisuals to Buxcoin [link] [comments]

buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia

buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia

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Earn more and more about BuxCoin before buying to make your vision clearer. Once purchased, be strong and let the Buxcoin work for you. Your 1,000 Euros can be 1,000,000 Euros or more within 3 years from now...Believe it or Leave it.
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submitted by justvisuals to bitsolives [link] [comments]

[R] Question on Bitcoin and Taxes

I have a fair number of Bitcoins. I tend to buy/sell at least once a month. I keep the coins in my local wallet. When I want to trade I xfer them to Zebpay / other exchange and sell there. Till date I have not withdrawn any money back to my bank account.
When I do decide to cash out, will the entire amount be seen as income? Can I reconcile the deposit made with the withdrawn amount and only be taxed on the profits? How this to be declared? My accountant is slightly stupid so I'll need to explain this to him. I've read a few articles online on this subject but they are all sketchy and vague.
My plan is to hodl fairly long term. In the unlikely event that I am rich beyond my wildest dreams, is there scope to open an account overseas and deposit the money there? What are some realistic options?
Looking for advice from people who have experience from being in a similar situation either themselves or via friends & family.
submitted by le_f to india [link] [comments]

buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia

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chat/Talk on chat/Talk on https://goo.gl/qG8qGv Whatsapp number for your help and questions.
Earn more and more about BuxCoin before buying to make your vision clearer. Once purchased, be strong and let the Buxcoin work for you. Your 1,000 Euros can be 1,000,000 Euros or more within 3 years from now...Believe it or Leave it.
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submitted by justvisuals to Buxcoin [link] [comments]

Indian exchanges have bitcoin at $300 discount? Current price at $3400!

I use zebpay as the indian exchange and the current price is Rs 350,000 ($5400) while bitcoin.com or coinmarketcap.com prices are $5700+
see - https://www.zebpay.com/. This is what its CEO has to say on the price difference https://blog.zebpay.com/why-are-indian-bitcoin-prices-higher-than-international-prices-45cf708b6b1d
Other Indian exchanges https://www.unocoin.com/ https://coinsecure.in/
Does this mean that the price of Bitcoin is at $300 discount? and that I should buy as much as possible immediately.
How do I interpret this price difference? Can I take advantage of this difference?
I do a lot of reading into others TA on tradingview/youtube etc. But their views are based on the international views, but if there is such a huge difference between international price and indian price, it is extremly confusing make the process of investing/Trading from India harder
Appreciate an thoughts from people here
submitted by imkeshav to Bitcoin [link] [comments]

What will happen if Singapore regulates bitcoin

What will happen if Singapore decides to regulate Bitcoin?
At a conference, Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), Singapore’s central bank, stated that the country has no intention to regulate bitcoin and the cryptocurrency market in the short-term.
In short, Ravi Menon shares the same sentiment as European Central Bank (ECB) President Mario Draghi, who as CCN reported, explained that the ECB has no plan for regulatory frameworks for the cryptocurrency market as of yet. Draghi emphasized that the ECB believes the bitcoin market needs to mature for the institution to consider regulating it.
Menon stated
“We’ve taken the approach that the currency itself does not pose the risk that warrants regulation. It is a known fact that cryptocurrencies are quite often abused for illicit financing purposes, so we do want to have AML/CFT controls in place. So those requirements apply to the activity around cryptocurrency, rather than the cryptocurrency itself.”
What Happens if Singapore Starts Regulating Bitcoin?
Although Menon clarified that there will be no strict regulations for the Singapore cryptocurrency market yet, he reaffirmed that the MAS will continue to be “open minded” with cryptocurrencies. More importantly, Menon noted that if the MAS and the Singaporean government sees the need of regulating the bitcoin market, it will provide regulatory frameworks for businesses and investors.
As Menon explained:
“Our approach is to look at the activity around the cryptocurrency and then make an assessment of what regulation would be suitable.”
If Singapore decides regulate its cryptocurrency and bitcoin exchange markets, there exists a highly probability that along with Japan, Hong Kong, and South Korea, Singapore will evolve into one of the major bitcoin market. Consequently, Asia is likely emerge as the cryptocurrency powerhouse region, considering that Japan is accountable for over 46 percent of bitcoin trades.
If the MAS decides to regulate its bitcoin market, the Japanese government’s roadmap towards establishing a national program for cryptocurrency exchanges will very likely be implemented. Cryptocurrency exchanges will then receive licenses to operate as regulated financial service providers and will be treated fairly as legitimate financial companies within the country.
In the future, if the Singaporean government regulates its bitcoin market, there exists a high probability that traders from regions like China and Russia will migrate to the Singaporean market to trade and use bitcoin. Additionally, leading bitcoin companies such as India’s second largest bitcoin exchange Zebpay are already based in Singapore, due to the country’s friendly regulations for startups.
Reference:
https://www.ccn.com/happen-singapore-regulates-bitcoin/
submitted by Aircrypt to Bitcoin [link] [comments]

FORGET THE WEDDING REGISTRY – THIS BRIDE- AND GROOM-TO-BE ONLY WANT BITCOIN

When Prashant Sharma and Niti Shree met four years ago, the price of Bitcoin was less than $300 per coin. Bonding over a shared love of start-ups and new technologies, the couple’s romance blossomed and their love, like the digital currency, has been growing ever since. They are getting married today, and, in true crypto-enthusiast fashion, have requested Bitcoin – and only Bitcoin – as wedding gifts.
Prashant Sharma and Niti Shree, both 28, have decided to buck tradition and have requested that their friends and family gift them with the popular cryptocurrency instead the of flowers, dinner sets, linens, and other items that make up the flotsam and jetsam of newlywed life. They even contacted Indian cryptocurrency exchange Zebpay, who are helping them set up a “Bitcoin booth”, complete with staff standing by to walk guests through the process of buying and sending bitcoin.
With the price of Bitcoin reaching one new all-time high after another this week, and likely continuing to climb next week as the new roll-out of Bitcoin futures trading in the US thrusts the digital currency firmly into the mainstream spotlight, a gift of bitcoin tomorrow could well be worth much more a few months or a year from now. But lest readers think that Sharma and Shree are hoping to get rich on the backs of their family and friends, the couple has stated that they plan to use the gifts “for the education and uplift of underprivileged kids and other CSR activities.”
AH… CRYPTO LOVE
To those that know the couple well, their decision makes perfect sense. Sharma and Shree, co-founders of Offrd, a specialized hiring platform for non-tech jobs, are avid cryptocurrency enthusiasts.
In an interview with Quartz India, Sharma recounted how they came up with the idea. As he was mulling over the wedding checklist, he started thinking about the wedding gifts and how he didn’t want a bunch of ‘stuff’ that they would likely never use just lying around the house. Then, inspiration struck:
Suddenly this idea struck me. What if I bring a dash of technology in the conventional marriage set-up and accept bitcoin as gifts?
After talking it over with his bride-to-be, the decision was made. But it was about more than just being different. Shree explained:
When we decided to get married, we decided we wanted to promote the technology we like. And since not everyone is familiar with bitcoins, we had the details of how to go about it on our wedding invites.
The wedding gifts aren’t the only part of the wedding getting the crypto treatment, either. In addition to the couple’s request, the wedding decor will include orange and yellow flowers as well as amusing one-liners and anecdotes about Bitcoin. Fancy a drink at the bar? They even have crypto-themed drinks – Ethereum, Monero, Ripple, and Litecoin – just for the occasion.
Do you think the couple’s request for Bitcoin-only gifts was rude or unusual? If you had your choice of gifts, would you choose Bitcoin? Let us know in the comments below.
submitted by aesonbitcoin to u/aesonbitcoin [link] [comments]

Indian exchanges have bitcoin at $300 discount? Current price at $3400!

I use zebpay as the indian exchange and the current price is Rs 350,000 ($5400) while bitcoin.com or coinmarketcap.com prices are $5700+
see - https://www.zebpay.com/. This is what its CEO has to say on the price difference https://blog.zebpay.com/why-are-indian-bitcoin-prices-higher-than-international-prices-45cf708b6b1d
Other Indian exchanges https://www.unocoin.com/ https://coinsecure.in/
Does this mean that the price of Bitcoin is at $300 discount? and that I should buy as much as possible immediately.
How do I interpret this price difference? Can I take advantage of this difference?
I do a lot of reading into others TA on tradingview/youtube etc. But their views are based on the international views, but if there is such a huge difference between international price and indian price, it is extremely confusing make the process of investing/Trading from India harder
Appreciate an thoughts from people here
submitted by imkeshav to BitCoinMarket [link] [comments]

As India’s Government Wars Against Cash, Bitcoin is Sought in Exchange

India’s War on Cash India is the world’s largest democracy. With over one billion people, its government often lurches and sputters to find the right fix on any number of issues. This is especially true in matters of monetary policy.
When it felt duty-bound to effectively sack its INR in the most popular amounts, it did so without warning. One day 500 and 1000 INR bills were legal tender, the next day they were not. Indians were pushed to banks, hoping to salvage what might be left of their personal wealth.
As India's Government Wars Against Cash, Bitcoin is Sought in Exchange
The equivalent in the United States might be if 10 and 20 USD paper was no longer useable.
India also has an enormous unbanked population, and its poverty levels have been extensively publicized. These are the people who live on smaller numbered cash bills, be they for employment or simple market transactions.
Even if for more affluent members of India, the sudden government move was a wake-up call as to the power politicians have over the paper in the average person’s wallet and even their accumulated wealth.
Bitcoin as Refuge For these and other reasons, bitcoin has surged, as it has all over the world, in India.
Wallets such as unocoin are sprouting up to meet increasing demand (it’s website ticker mentioned withdrawals were being processed manually at the time of this writing). Exchanges such as Zebpay and coinsecure are generally well-received as methods of moving out of INRs and into bitcoin (currently 1 BTC : 348,385 INR).
India has become so tech-savvy and interested in cryptocurrency, yet another part of its vast government launched a public/private consortium, Start-Up India. It acts as an incubator of sorts, and its official recognition appears to be a coveted stamp of approval for less-established business.
As India's Government Wars Against Cash, Bitcoin is Sought in Exchange
Touting such recognition is India’s latest entree into the exchange market, BitBox.
The company hopes to gain market share by providing “free trading,” its press material reads, charging only “on deposit & withdraw. Further our charges are not flat and get reduced up to 0.1 % based on user trading volume.”
It wants to be the easiest service of its kind in India, customizable with access to trades in a few simple screen motions.
Bitcoins “can be kept on your balance in a safe cryptocurrency cold storage, traded, or withdrawn to personal wallets at any moment,” BitBox states.
Precious few details are known about the start-up, as is usually the case. The application is available on Google Play, and reviews are mostly positive. BitBox version 1.0.16 permissions seem in line with the industry, but it’s always a good idea to read them along with customer feedback carefully before downloading.
Exchange competition signals a healthy sign for the India bitcoin ecosystem, and with smartphone ubiquity on the rise those hit hardest by government policies may well have a viable alternative in bitcoin.
submitted by vicky_hi to bitcointrend [link] [comments]

[uncensored-r/CryptoCurrency] Please help : International exchanges in India

The following post by digbick1994 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7635ez
The original post's content was as follows:
I have been using Zebpay because they're one of the two trusted exchanges in India. But I've had it. Zebpay is defrauding people. Bitcoin is a decentralized currency, which means only users can regulate the prices. But zebpay intervenes to fill it's own pockets by regulating the prices on their own. For example: International prices 5000$ (INR 330,000) Zebpay prices Buy/Sell $5114/ 5075 ( 335,000/318,000)
International prices 5800$ (INR 380,000) Zebpay prices Buy/Sell $5310/ 5110 (348,000/330,000)
Do you see what they're doing? And who are they to do so? They're only supposed to facilitate the trading. Not regulate it. When I write this, some executive will come and post a shitty link and an explanation as to "Why are Indian bitcoin prices higher than international prices?" https://blog.zebpay.com/why-are-indian-bitcoin-prices-higher-than-international-prices-45cf708b6b1d
My point is they should not have the power to change prices. It's us, the people who determine the prices. If we wanted someone else to determine the prices, we'll use fiat. In light of the above, can someone point out exchanges that deal bitcoin at international prices?
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

India Suddenly Legalizes Bitcoin!!

Is this as big as it sounds?
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india
EDIT to add text of article:
By Joseph Young
Suddenly, Bitcoin to Be Officially Legal in India
Leading Bitcoin exchange Zebpay has revealed that the Indian government committee has ruled in favor of regulating Bitcoin.
On April 14, Cointelegraph reported that the Inter-Disciplinary Committee within India’s Ministry of Finance was actively investigating the legal status of Bitcoin and considering the possibility of regulating the market.
Efforts of Indian Bitcoin exchanges
Over the past three years, the big three Indian Bitcoin exchanges including Zebpay, Coinsecure and Unocoin operated with self-regulated trading platforms with strict Know Your Customer (KYC) and anti-money laundering systems in place, despite the lack of regulations in the digital currency industry and market.
The efforts of the Bitcoin exchanges in India to self-regulate the market allowed the Indian government to reconsider the Bitcoin and digital currency sectors, regardless of the criticisms by several politicians that significantly lack knowledge in cryptocurrency.
On March 24, Cointelegraph reported that Kirit Somaiya, a member of parliament of the ruling BJP in India, was harshly criticized for his description of Bitcoin as a Ponzi scheme.
In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin.
The legalization of Bitcoin in India
In spite of the negative attitude of certain politicians, the Indian government has come to a decision to regulate the market and provide an even playing field for Bitcoin exchanges that have allocated a significant amount of resources to standardize the market and industry.
Back in April, Mohit Kalra, CEO of Coinsecure, one of the largest Bitcoin exchanges in India, told Cointelegraph in an interview that the Indian government has finally started to take Bitcoin seriously and are considering the possibility of regulating the market.
Kalra said:
“Finally, something positive for the industry. Authorities are now taking this technology seriously. We have been trying to get their attention for years now. I am glad it's all happening at the right time. At Coinsecure, we are seeing a massive increase in the number of users and volumes. We are positive with what will happen in these coming three months.”
On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term.
Prior to the announcement of the Indian government, Chris Burniske, ARK Invest’s crypto lead, noted that the trading volumes in India have been on the rise. Burniske previously revealed that the Indian Bitcoin exchange market is responsible for processing around 11 percent of Bitcoin-to-USD trades.
Hello #India 🇮🇳 we've been expecting you! Very curious to see where this goes for #bitcoin. h/t @BKBrianKelly pic.twitter.com/9uacy5GZH9
— Chris Burniske (@ARKblockchain) June 15, 2017
The legalization of Bitcoin in India is expected to further increase trading volumes and Bitcoin activities in India by significant margins.
submitted by djsjjd to BitcoinMarkets [link] [comments]

Bitcoin is awesome technology but there are issues with development and competition.

I noticed the recent AMA from zebpay on india regarding Bitcoin, and as someone who has been investing and following since 2012, there is more that should be known before investing.
Bitcoin has been undergoing a civil war within itself for a few years now. This civil war can be seen first hand in real time by going to (www.xtnodes.com). The "Public Service Anouncement" is a good primer in understanding what the division is about. The website tracks each block and the version of the bitcoin software that produced it. The inevitable outcome many feel is that the community will likely divide itself in the future by undergoing a "fork". In that case two different versions of Bitcoin will be created that follow different rules. One version will likely increase the size of each block, while the other will keep the blocksize at 1mb. This is the beauty behind open source, permisionless software development. However, the fork will likely devastate the price of bitcoin. In fact, it may never recover, as there are competitors in this space.
Other developers took the revolutionary technology behind bitcoin (called "blockchain") and have created other currencies, or as they are more properly called, "cryptocurrencies" since they all use some form of cryptography. To see the entire list of actively traded cryptocurrencies and their market capitalizations, go to (www.coinmarketcap.com)
Full disclosure: I am invested in Bitcoin, Ethereum, and a dozen or so other ones. Each one has its pros and cons. Feel free to ask me questions.
submitted by doyourduty to IndiaInvestments [link] [comments]

How to trade crypto-crypto pairs on ZebPay What is Bitcoin? How to Invest in Bitcoin? @Zebpay - YouTube Zebpay Cryptocurrency Exchange - YouTube Zebpay - Bitcoin Cash - How to buy, sell, send & trade? - Ethereum & LiteCoin on the way How to trade bitcoin in zebpay bitcoin wallet  bitcoin bid on zebpay

Trade cryptocurrencies in over 130 countries across the globe! With a clean, intuitive interface, Zebpay is a secure crypto exchange trusted by over 3 million people worldwide. Zebpay is the easiest way to buy and sell Bitcoin, Ethereum, Ripple, EOS and many other cryptocurrencies. ZebPay also offers an OTC desk, a bespoke service for users trading in large quantities of crypto assets. ZebPay OTC is a white-glove service available at every stage of the trading process - from the initial expert consultation all the way through to execution, with trade reporting and market insights. Buy/Sell and Trade Bitcoin (BTC) on the ZebPay exchange. ZebPay provides secure ways to send, receive and trade Bitcoin. Available for Android and iOS devices. Zebpay; Unocoin; CoinSecure; How to Trade in Zebpay : Zebpay is an app-enabled exchange which has its IT offices in Ahmedabad and Mumbai. With over 1 Mn+ downloads, the exchange claims to command over 60% of the Bitcoin trade in India.. Follow the below steps and start your Bitcoin trading using Zebpay. The fastest and easiest way to buy/sell bitcoins. If you hold 1 Bitcoin in your Zebpay account, you can choose to withdraw either 10,000 Rupees from it or 0.021 BTC.India is a great example of this – where Bitcoin is Sandeep Goenka, founder of Zebpay, one ofThe startup had cooperated with the investigation into the theft, he explained, adding that “operations were normal during this period

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How to trade crypto-crypto pairs on ZebPay

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