In the countries with unstable economy Bitcoin is a very attractive asset for investment and the way of money holding. Many citizens of India are not satisfied with the economic situation in their country and with their standard of living. For most Indians Bitcoin is a real chance to live better. However, position of BTC in the country is not so good and favorable, as it is in most other countries of the world.
Bitcoin VS Government of India
Bitcoin`s status in India is in a strange position, it is impossible to say clearly is BTC legal or illegal in the country. On the one hand, buying and selling BTC in not illegal, so these actions can be called legal. On the other hand, using the first cryptocurrency as a payment means in any sphere of life is illegal, this moment is controlled by the government bodies.
Indian government conducts very strict policy concerning Bitcoin and other digital currencies. Such a hostile attitude is reasoned by the blockchain technology, that operates on the principle of decentralization, what excludes government`s control. In 2019 Indian authorities even proposed the bill, offering to imprison citizens for 10 years for any deal with cryptocurrencies.
In March 2020, the Supreme Court of India passed the verdict, revoking the RBI ban on cryptocurrency trade. Though, today still there is no definite cryptocurrency regulation in the country.
All in all, it is difficult enough to use Bitcoin and altcoins in India, citizens are not able openly to use BTC for paying goods and services, bills and usual exchanging. Fortunately, Indians are not isolated from global crypto society. They still can trade and invest in digital currencies, using international platforms and VPN services. Also, there are some trusted exchanges, functioning in India:
Can I Legally Double My Bitcoin in India?
Bitcoin doubling is a form of investment; and trading, investing, purchasing & selling Bitcoin are not officially banned in India. Locating in India, you can double your BTC funds, using trusted Bitcoin doublers. Use VPN services, if you cannot enter a site with an Indian IP.