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Unocoin is the largest Indian Bitcoin exchange - their users can buy Bitcoin using any registered Indian bank account. The company is regulated by the Indian government, backed by investors in the United States, and has relatively low fees at just 1%, lowered to .7% with high trading volume.
WazirX is another popular Indian cryptocurrency exchange. Operated by Binance, one of the world's leading cryptocurrency exchanges, WazirX is a reputable and trustworthy Indian Bitcoin exchange.
Lastly, Coinmama and Coinbase are two more fantastic options, both of which among the largest Bitcoin exchanges worldwide. Though not based in India, anyone with an Indian bank account can buy and sell tokens on their exchanges.
Back in April, 2018, The Reserve Bank of India passed a ban on all Bitcoin and cryptocurrency-related transactions to curb "ring-fencing" of the Indian financial system. The ban came after several scams, including BitConnect, not to mention illicit transactions in India using blockchain technology.
Fortunately, however, after a petition from the Internet and Mobile Association of India, the Indian Supreme Court overturned the decision in March of 2020, revoking the ban and allowing cryptocurrency exchange to resume one again.
In summary, Bitcoin exchanges are now allowed to sell within Indian borders to anyone with an Indian bank account.
Buying Bitcoin in India is easy, thanks to popular centralized exchanges. Unocoin and WazirX are two popular exchanges based in India, but Indian citizens can buy Bitcoin and other coins from any exchange that supports trade with INR. Check out our guide on the top 11 exchanges to buy Bitcoin in India for more information.
Unlike western countries with expensive electricity cost, India has some of the cheapest electricity around the world, coming in at USD 0.08 per kWh.
India's relatively low electricity cost is why India, along with China, is home to many large scale Bitcoin mining operations.
Still, Bitcoin mining is far from profitable unless you're running a massive mining operation, lowering the cost of hardware and electricity at scale.
If you want to calculate your mining profitability, check out our mining profitability calculator tool.
You can check the Bitcoin price in gold, by clicking here.