bitcoins in India and Zebpay

Bitcoin Questions and AnswersCategory: General questionsbitcoins in India and Zebpay

Yash Toprani asked 6 months ago

Last updated on December 2nd, 2017 at 08:08 pm

Is Zebpay an authentic application to trade Bitcoins in?
Is it legal to trade bitcoins in India?

2 Answers
Steven Hay answered 6 months ago

Hi Yash,
 
I guess that you’re concerned by the Reserve Bank of India’s recent announcement on the legality of Bitcoin:
 
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=30247
 
What I can tell from that document is that the RBI is warning Indians that Bitcoin is risky and that they are the ones taking all the risks, as the RBI won’t help anyone who loses money due to cryptocurrency. That is all fair enough. Nothing I read would suggest that Bitcoin is illegal in any way.
 
Check out Zebpay’s own coverage of this and previous statements from the RBI, as the experts they quote agree that Bitcoin is legal to own and use in India:
 

Bitcoin is legal under existing Indian laws

Steven Hay replied 6 months ago

To answer your question about Zebpay, yes they are legit.

Sanjeet Yadav answered 6 months ago

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