A small segment of the population already knows how to buy bitcoin in India, either to save or even to speculate and make a profit, but another important segment of the population at this very moment is asking itself a host of key questions:
1. How can I convert from INR to bitcoin?
2. Can I buy products and services in India with bitcoin?
3. Once I have bitcoin in my wallet, how do I convert from bitcoin to INR to make my purchases?
In this article, we will focus on answering this last question, motivated by the fact that many Indians need to have their INR to buy their products and services in the Asian country.
How do I convert from bitcoin to INR?
The answer to this question is very simple, and we must start by saying that in the global cryptocurrency trade there are different modalities of exchange places that are classified as follows: traditional exchange, cryptocurrency brokers, cryptocurrency funds, OTC exchange (Over-The-Counter), Peer-to-Peer Exchanges (P2P), Instant Exchanges.
The most convenient and safe way to convert your bitcoins to INR is through the P2P (Person to Person) cryptocurrency exchange modality.
In India one of the safest, and we recommend on this occasion is; Remitano.
It should be noted that this type of P2P exchange company, in this case, Remitano, serves as an intermediary and facilitator, providing custody (escrow) between the seller and the buyer of bitcoin.
And to make said change from bitcoin to INR you must follow the following procedure:
The bitcoin seller, which in this case will be you, has two ways to sell your bitcoins (or fractions of bitcoin):
- You can set up an ad and place a price and wait until an interested buyer arrives for the price you have set and executes the purchase order.
- Another quicker way to do this is for you to head over to the bitcoin buyers section in Remitano in India, and once there a series of bitcoin price announcement options will be displayed.
Being here you must choose the price that most satisfies you, then, it will be at this moment that you will open a sell order with the buyer user in question.
It should be noted that this buyer stipulates in his ad the amount for the purchase of bitcoin in the INR currency nomination.
The next factor that you must analyze is the payment method since the idea is that this method is compatible between the buyer and the seller that you are. That is, the two must have the same fiat currency bank.
Once the sales order is opened, a private chat window will automatically do so, which is the means through which you will communicate with the buyer.
For its part, the buyer must make the deposit through the prescribed method, and then deliver the invoice in digital format through the chat window that we have mentioned.
Once the buyer has sent you the invoice, you should check your personal bank account in Fiat INR currency and verify that the deposit has actually been made.
It is only at this time that you will be able to release the bitcoin or your bitcoin fractions to the buyer.
Since then, your transaction has been executed successfully, and they already have INR in their local fiat bank account to make the purchases and payments that you need.
This is how you can quickly, simply, and safely convert your bitcoin to INR, in this case, thanks to Remitano.
Remitano offers you the following security and protection mechanisms:
- Two-step authentication on Google.
- Confirmation text message to your phone number.
- Authentication through the Authy application.
Open your account now through remitano.com, and start converting from bitcoin to INR through the following link: http://remitano.com/btc/in.
For more details on how to convert bitcoin to INR, see the following Remitano sales guide: https://support.remitano.com/en/articles/3352072-how-to-sell-bitcoin-ethereum
How To Convert Your Bitcoins To INR To Do Your Everyday Shopping In India? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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