What Indians can do after Banks shuts down their services with crypto exchanges ?

in cryptocurrency •  last year 

As, we all know that RBI had published a notice regarding ban of banking services with all indian crypto exchanges. And, the day has reached to us and our 3 months tenure is almost finished. So, all banks will need to take down the services they are providing to indian exchanges and on 5th july, 2018 it will be the last day.

But, the big question is that do we need to be panic at this situation or need to sell all our cryptos and withdraw our money at loss ?

Then, my answer is "No" because crypto future is bright and it's our future & not only this but several countries are adopting the technology and are trying to bring this crypto revolution under regulation.

Countries like Canada, Argentina, USA and many others are formulating policies for regulating the cryptocurrency tradings.

What if India bans cryptocurrency or declare it illegal?

On this question, only answer is that its not gonna happen and there is 90% chance that like other countries india will also adopt crypto and will regulate it for sure.

What if all banks withdraw its services with exchanges?

There, are 5-10 ways present legally from where we can sell our coins and tokens and can easily withdraw our money in cash.

One, method is peer-to-peer which has been introduced by wazirX and koinex.

I will update you all with several new methods very soon through which we can cash out our coins easily and legally.

But, for that you need to follow me and upvote this post.

Hope, you all likes and upvote this contribution.

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peer to peer services are good alternate but that is not ideal

Yeah u r absolutely right.

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nice info bro @neeravkr04

what about taxes???
I think FM will adopt more tax rates on such currencies

Yeah, but if crypto gers regulated. It will be beneficial for all of us.


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