Indian Regulations are against cryptocurrencies and recently RBI has banned cryptocurrencies in India. It is difficult for indian traders and Miners who have earned profit from VC’s such as Bitcoin and Ethereum. I think you should either stop mining cryptocurrencies in India or create contacts in a Country where people support Bitcoin and can safely purchase your coins. There are several reasons behind leaving cryptocurrencies –
For people who don’t how Cryptocurrencies work – Click here
- You can’t leave your country for such risky and highly volatile asset. Trading cryptocurrencies can be very injurious and mining cryptocurrencies in developed countries such as the USA are not profitable as electricity costs are very high in these countries.
- Escrow Trading(Asset is held on behalf of two other parties that are in the process of completing a transaction) is not genuine. Companies such as LocalBitcoinsare involved in Escrow trading where you can Buy/Sell Crypto’s with Banking options such as RTGS/NEFT/IMPS and other options such as Paytm and Paypal.
Furthermore, you can sell your cryptocurrencies safely to your relative or friend residing in a country where Bitcoins and Altcoins are supported Ex-US, Australia and Singapore. Blockchain has more potential than any other technology and Indian Government is killing curiosity of Highly intellectual societies.