In this article we will cover how to exchange ETH to INR or vice versa with no KYC or ID.
It can be hard to buy and sell cryptocurrencies in India since India has proposed a ban of cryptocurrencies.
However, with different P2P exchanges, like Bitvalve for instance, it will still be possible to exchange cryptocurrencies like ETH to INR or vice versa.
Bitvalve is one of several existing peer-to-peer crypto exchanges. The unique thing about Bitvalve is that they are offering low fees, other cryptos than just Bitcoin and have no geo restrictions. Also, Bitvalve allows for crypto purchases up to $2000 with no mandatory KYC.
What is behind the Indian ban on cryptocurrencies?
India is about to propose a law that might be banning cryptocurrencies. The proposed law can fine anyone trading in the country or even holding such digital assets. The information comes from a senior government official, says Reuters.
This would lead to one of the world’s strictest policies against cryptocurrencies and would criminalise possession, issuance, mining, trading and transferring crypto-assets.
How can P2P exchanges avoid a potential ban?
It’s harder for governments to ban P2P crypto exchanges since they have no bank account where they hold their customers funds.
Governments could potentially close down their servers but there will always be any country in the world willing to accept their servers.
Also, governments cannot close down all available payment methods since they include cash and other regulated services like PayPal.
Because of these reasons people are looking for P2P crypto exchanges in countries where the governments try to ban or regulate cryptocurrency exchanges and holdings.
One example is the unsuccessful crypto ban in Nigeria.
How to sign up with Bitvalve and start exchanging ETH to INR?
It’s easy to sign up with Bitvalve and start exchanging ETH to INR, or vice versa.
Since we have already covered how to buy ETH with PayPal using Bitvalve we will use one popular PayPal alternative in this article, Payoneer.
When you sign up with Bitvalve you will get 10 BTV tokens for free
Once you have signed up and logged in you follow these easy instructions
- Chose to Buy or Sell crypto in the left menu
- Chose coin
- Chose payment method
- Chose what currency to pay with
What fees does Bitvalve charge?
Bitvalve has some general rules for fees but there are different fee structure for crypto to crypto trades and crypto to fiat trades.
BitValve General Info for Fees
- For a limited time, Bitvalve charges 0% commission fee
- The trader who owns the Offer is paying the fee
- Bitvalve charges the fee once the trade is marked as completed and the funds have been released.
- Fee is charged in BTV tokens, if there is available balance.
BitValve Crypto to Fiat Fees
- Fee is 0.5% of the trade volume, if paid in BTV tokens.
- Fee is 0.8% of the trade volume, if paid in crypto.
BitValve Crypto to Crypto Fees
- Fee is 0.2% of the trade volume, if paid in BTV tokens.
- Fee is 0.35% of the trade volume, if paid in crypto.