India is one of the largest countries in the world, has been trying to determine the legal status of crypto-currencies for several years. In anticipation of the introduction of the regulation of the Crypto-currency in India, local residents begin to purchase them on American exchanges, as well as with the help of relatives or friends who have accounts abroad.
The Indian government recently announced that the rules will appear in the near future. The Local Committee for Blockbuster and Crypto-Currency (BACC) is also considering several initiatives in this area.
The Indian stock exchanges - Unocoin, Zebpay, Coinsecure - are striving to strengthen control over transactions, so local supporters of bitcoins consider buying at American stock exchanges an alternative.
As local news reports say, Indians tend to purchase bitcoins abroad with the help of friends and family members.
"There are those who get bitkoyny as payment for gadgets and video game reviews. But for regular purchases you need a relative or friend abroad to send crypto currency, "- says one of the local users of crypto currency.
The general manager of the Bitcoin Bitlox hardware wallet Dinesh believes that confidentiality is one of the main attractions of bitcoins: "People do not want to disclose information about their payments to the government, corporations or even their families."
Increased security of purchases made with bitokoynam - an important incentive for residents of the country to use local exchanges.
"The AADHAAR identification system, a 12-digit unique identification number issued to all Indian residents based on their biometric and demographic data, will contribute to this," Dinesh said.
"Outside of India, only one-factor authentication is required. Therefore, when it comes to using a credit or debit card for purchases on foreign websites, there is also a risk of leakage of confidential financial data and hacking. The Reserve Bank of India (RBI) introduces two-factor authentication for all transactions. Thus, using bitokoyanov add one level of security, "- said Damodharan Sampatkumar from Renovite Technologies.
source:https://bits.media/news/grazhdane-indii-peremeshchayutsya-na-kriptovalyutnye-birzhi-za-granitsey/