There is a debate between people from all around the world about cryptocurrency legality. Some people will say it is legal but some people will say is illegal to buy cryptocurrency. In India the central bank which is RBI (The Reserve Bank of India) is not encouraging their people to buy cryptocurrency.
RBI had state that is not safe to buy VCs (virtual currencies) because :-
There is no records for buying and selling.
Can be use for unwanted event.
The Government want all your transactions record therefore they do not allow VCs for buying and selling purpose. RBI had also said if you want to buy or sell VCs do it on your own risk.
if you guys are wondering to buy cryptocurrency or not then here some pros and cons about cryptocurrency.
Advantages of cryptocurrency.
Why should we buy cryptocurrency
- No third parties :- During buying and selling crypto there are no third parties such as bank or any other person.
- Fast transactions :- You can buy or sale VCs very fast. A user does not have to wait for days.
- Secure :- No one can steal your data as it is using NSA created cryptography. It is next to impossible for any person other than the owner of the wallet to make any payment from the wallet, unless they were hacked which there are many ways to protect yourself from.
- Easy access :- Anyone can access their cryptocurrency with the help of required application or the medium where the assets is store.
Disadvantages of cryptocurrency
- Hard to understand:- If you want to buy bitcoins without any knowledge the don't do it. To invest in crypto marketing fist you need to understand their market if you didn't I am sure you will face a lose.
- Government issues :- May country like Japan, US and Russia have declare cryptocurrency legal where as some countries like India have not declare crypto as medium of exchange.
- No refunding :- If by mistake you pay someone via cryptocurrency, Then there is no way to get the refund of that amount.
Popular cryptocurrency in India :-
- Bitcoins
- Ripple
- Ethereum
- Litecoin
Bitcoin is one of the most popular cryptocurrency all around the world. Investors are making big amount of profit from bitcoins. Current market value of one bitcoin is 7600 dollars in India it is 513298 rupees.
How to buy bitcoin in India.
In India there are many apps , Zebpay and Unocoins are one of the best platforms to buy or sale bitcoins. but you have to link your ID card for the verification. It is safe and trusted platform for bitcoins transactions.
you can download the applicatons on your smartphones from :-
unocoins :- https://www.unocoin.com for ISO :- https://itunes.apple.com/in/app/unocoin-wallet/id1030422972?mt=8
Zebpay :- https://www.zebpay.com/ for ISO :- https://itunes.apple.com/in/app/zebpay-cryptocurrency-exchange/id944854686?mt=8My opinion on cryptocurrency is yes we should buy cryptocurrency especially bitcoins cause it is safe and a better opportunity to invest your money but first do a market scan for bitcoin.
Coins mentioned in post:
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