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 later, 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)
- CoinDelta Flux
- Koinex Loop
- Binance (International exchange which is good for trading and or selling for USDT)
So without further delay, let’s jump into this exclusive list of websites in India that let us sell Bitcoin.
- Also, see: Best Indian Websites To Buy Bitcoin
Best Indian Websites to Sell Bitcoins:
Founded by IIT graduates, also crypto enthusiasts, Bitbns is an Indian crypto exchange which started operations in December 2017.
The Bitbns team focusses on ease of use, security, and customer support right from the beginning.
The Bitbns team has also pioneered the innovative P2P model for exchange cryptocurrencies and INR despite difficult times in the Indian crypto scene.
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.
CoinDelta is another new entrant that offers a multi-cryptocurrency exchange. They have listed many popular currencies and they are customer-centric. At the time of updating this list of Indian Bitcoin exchanges, these are the cryptos (ETH, BTC, USDT, and XRP) supported by CoinDelta but now it has moved to a P2P model called Flux.
Flux is a peer-to-peer exchange where you can start trading cryptocurrencies in just a few steps. You can choose to buy or sell from a list of orders. A buyer transfers money directly to the seller’s account. It’s simple, quick and safe.
On flux, you can trade Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Tether (USDT).
Note: You can trade ETH, BTC, USDT, and XRP on it as of now.
Koinex is another famous cryptocurrency exchange in India which has been operating since early 2017.
Post-RBI’s ban, Koinex team also launched a P2P solution for Indians for them to trade cryptocurrencies safely with INR off and on ramps without breaking the law.
They have launched a new P2P platform where your assets are used as collateral, and then the INR deposits and withdrawals are processed while you buy/sell BTC on it.
- How To Sell On Koinex Loop
- How To Buy On Koinex Loop
Note: You can trade ETH, BTC, and XRP on it as of now.
Wazirx is another popular crypto exchange in India which has joined the party only in 2018.
It is founded by an experienced team which is continually innovating with a mission to involve every Indian in the blockchain revolution.
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. 💰
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.
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 (after using Unocoin).
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.
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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