- Want to quickly sell Bitcoin in India?
- Wondering how does the whole process of Selling BTC in India works?
- Which are the best and trusted website for Bitcoin selling in India?
Read on to learn everything about it, including many insider tips…
But before that…
India is one of the biggest Bitcoin arbitrage opportunities for Bitcoiners around the world.
With a price difference of more than $100, one can easily earn a fortune if they play their cards right. I have been doing this for the last two months & have sold Bitcoins with a total worth of $20k, netting around $3,000 – $4,000 in profit.
I will talk more about Bitcoin arbitrage for Indians in upcoming posts, but today I have an exclusive post for you. Today, you will learn about some of the best sites in India where you can sell Bitcoin and earn money.
Here is the updated list (Some of the sites are not listed below as they are launched recently and have great user experience)
- Wazirx (Direct bank withdrawal)
- Binance (P2P)
- Bitbns (Direct bank withdrawal)
- Localbitcoins (P2P)
- Paxful (P2P)
So without further delay, let’s jump into this exclusive list of websites in India that let us sell Bitcoin.
- Lowest fees & Instant withdrawal
- For experienced sellers
- Instant Withdrawals
- Sell Bitcoin in India using P2P Method
- Also, see: Best Indian Websites To Buy Bitcoin
Best Indian Websites to Sell Bitcoins: Convert BTC to INR
Wazirx is the most popular crypto exchange in India which has joined the party only in 2018.
It is founded by an experienced team that is continually innovating with a mission to involve every Indian in the blockchain revolution. They enable users to quickly sell their Bitcoin in India, and you can withdraw funds directly to your bank account.
Here is how you can sell Bitcoin in India using Wazirx:
- Create an account on Wazirx
- Login to their web app or download mobile app
- Deposit Bitcoin
- Sell it for INR (See the screenshot)
Once you have sold your Bitcoin, click on funds and click on INR
Here click on Withdraw and on the next screen, you get the option to withdraw funds instantly or standard withdrawal. Instant withdrawal cost a small fee of INR 10, and max 2 lakhs per transaction.
Since Wazirx, is a trusted platform for selling Bitcoin, I usually use “Standard withdrawal” which is free of fees, and received funds in my bank account within time.
This section shows how to sell Bitcoin on Wazirx and how to withdraw funds:
In the present situation, they have come up with a new way of peer to peer trading which enables Indians to withdraw and deposit INR while trading cryptocurrencies.
Here is the sneak peek into their methods:
For example, if you want to sell your BTC worth $5000 which is equivalent to approximately ₹3.4 Lakhs INR, here’s what to do (Source):
- Sell your crypto (BTC in this case) for 5000 USDT. Your trades will execute instantly because our USDT market has great liquidity! Now since USDT is a stable coin, its value will not fluctuate like volatile cryptos.
- Put your 5000 USDT for sale on WazirX P2P.
- When someone comes to buy 5000 USDT on WazirX P2P, they will transfer ₹3.4 Lakhs to your bank account. 💰
This is also useful for the new and experienced trader who is trading on international crypto exchanges and need to take profit. You can simply transfer USDT to Wazirx and convert it into INR using the P2P method.
Note: Wazirx escrows the funds, and provides appropriate dispute resolution wherever required. Right now it supports P2P exchange of USDT in INR. And when you have got USDT you can trade on Wazirx for 10+ cryptocurrencies that are available in USDT pairs.
Founded by IIT graduates, also crypto enthusiasts, Bitbns is an Indian crypto exchange which started operations in December 2017.
The Bitbns team focuses on ease of use, security, and customer support right from the beginning.
The Bitbns has also pioneered the innovative P2P model for exchange cryptocurrencies and INR despite difficult times in the Indian crypto scene. Read BitBNS review to learn more.
You can easily liquidate your BTC here by following their P2P model.
Here is a sneak peek into their model:
- Deposit money (INR) in Bitbns.
- Withdraw money (INR) from Bitbns.
LocalBitcoins is the best platform for anyone who wishes to make a career in Bitcoin trading. This is a P2P market where you can sell bitcoins at any price. Think of LocalBitcoins as eBay for buying & selling Bitcoin. Here you decide at which price (and by which method) you want to sell your bitcoins.
You can sell using PayTM, bank deposit, In cash, and NEFT (to name a few). When I started purchasing bitcoins for the first time, I used LocalBitcoins. Read Localbitcoins review to learn more about LBC.
The only thing about this platform is that it’s only for net-savvy people. You need to be smart because the platform requires your presence of mind to make the most out of it.
LocalBitcoins offers an extensive help guide that will help you become a pro-Bitcoin seller & keep your account secure.
Here you can buy bitcoins using cash, direct bank deposit, and other methods.
My only advice for you when using LocalBitcoins is to work with users who have a good number of sales & a high reputation. Similarly, if you wish to sell a lot of bitcoins, you should focus on building a high reputation from day one.
4. Binance P2P
Binance is one of the world’s largest and trusted cryptocurrency exchange, that offers P2P option to sell Bitcoin In India. The price is same as other exchanges, but is better for those who would like to use only Binance, and sell directly in INR.
Here is how it works:
- Create an account on Binance or login if you already have one
- Select Spot > P2P
- Select “I want to sell”
- Select BTC
- Under Fiat select “INR”
This would show you all the buyers, and do pay attention to “Number of orders” and “Completion”.
For example, in the above screenshot you could see “13 orders, 92.86% completion”. Once you have identified the merchant, click on “Sell BTC”
If you don’t have a verified Binance account, you will be asked to complete the verification. After that, you need to enable SMS authentication (For quick notifications), and set an alias for P2P trading.
Once done, click on Sell BTC and you can enter the amount of BTC you wish to sell.
Since this is your first time, you also need to “Set a payment method”. At the time of writing, for Indians, there is Bank account deposit only. Hopefully, in future we see UPI feature as well.
Click on “Set my payment methods” and add your bank account details:
Thats it. Now head over to P2P sell Bitcoin page, and sell your Bitcoin. From here on, the usual P2P method will work, and you will receive funds in your bank account.
5. P2P sell BTC to INR: Paxful
This is one of the most popular ways to sell Bitcoins in India. Rather than selling it on an exchange where the money will come to your bank account, rather sell it to someone in person.
Since Bitcoin is people money, you can help someone understand how it works and help them get started. However, don’t make a classic mistake of promising high returns and do let others know about the risk associated with it.
If you have bandwidth and time to do this, you can sell Bitcoins for cash and at the same time help others learn about this disrupting alternate financial method.
Bonus: Compare Bitcoin Buying/Selling Price From One Place
Here is an extra bonus from CoinSutra.
This is a must-have for any Indian looking to trade in Bitcoin. BitcoinRates lists the current buying & selling price of Bitcoin in India.
You can see the price with & without the fees.
This makes it easy for anyone to find the best website to sell Bitcoins in India. The green highlighter shows which exchange is offering the lowest buying & highest selling price. Scroll down the homepage to see arbitrage opportunities. You can read about them in detail over here.
The Bitcoin scene in India & Asian countries is heating up. In the next couple of years, Bitcoin is going to be very exciting for everyone who is interested in digital currency.
In upcoming posts, I will be sharing more guides & tutorials to help you grow your career in Bitcoin.
For now, I would love to hear your experience of selling Bitcoin in India.
- Are you also making money from Bitcoin arbitrage?
- Which sites are you using to purchase bitcoins from outside India?
- How are you dealing with FEMA guidelines with outward remittances?
Let us know your experiences in the comments section!
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An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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