can coinbase be used in india

Coinbase provides crypto trading services in India, allowing Indian users to buy, sell, and store popular cryptocurrencies like Bitcoin and Ethereum.

Nov 08, 2024 at 02:10 am

Can Coinbase Be Used in India?

Yes, Coinbase is available in India and has been since 2018. Indian users can access Coinbase's services, including buying, selling, and storing cryptocurrencies.

Steps to Use Coinbase in India:

1. Create an Account: Visit the Coinbase website or download the Coinbase app, and create an account by providing your personal information and setting up two-factor authentication.
2. Verify Your Identity: Coinbase requires identity verification to comply with regulatory requirements. Upload a government-issued ID (such as a passport or PAN card) and follow the verification process.
3. Set Up Payment Method: You can add your Indian bank account to Coinbase using Instant Bank Transfer (IMPS) or NEFT.
4. Buy or Sell Cryptocurrencies: Once your account is set up, you can buy or sell cryptocurrencies such as Bitcoin, Ethereum, and more by placing orders on the Coinbase platform.

Fees for Using Coinbase in India:

Coinbase charges fees for its services:

• Trading Fees: A percentage of the order value is charged as a trading fee. Fees vary based on the payment method and order size.
• Withdrawal Fees: There is a fee for withdrawing cryptocurrency from Coinbase. The fee depends on the cryptocurrency and the withdrawal method.
• Bank Fees: Additionally, your bank may charge fees for deposits and withdrawals.

Supported Cryptocurrencies in India:

Coinbase supports several cryptocurrencies in India, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Polygon (MATIC)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Dogecoin (DOGE)
• Shiba Inu (SHIB)
• Uniswap (UNI)
• Chainlink (LINK)
• Tether (USDT)

Important Notes:

• Coinbase is regulated by the Reserve Bank of India (RBI) and follows Indian laws and regulations.
• Cryptocurrencies are not legal tender in India, but they can be bought, sold, and traded as assets.
• Cryptocurrency prices can be volatile, so investors should exercise caution and invest only what they can afford to lose.