In India , RBI said that all banks who deals with the blockchain should stop all the services giving to deal with cryptocurrencies. After this statement of RBI, there is a lot of FUD created in Indian Market and price of bitcoin on Indian exchanges also get down. RBI gaved 3 months to all banks dealing with cryptocurrencies.Many petition have filled against this decision of RBI. Supreme court hear all the petition on 20th July and gave a final decision against this decision of RBI. On 5th July, duration of 3 months will be ended. All the peoples who trade or deal in crypto market are very disturb due to RBI statements. So there all after this, many of the Indian exchanges bringing their methods that If RBI will ban cryptocurrencies in India , you can withdraw your bitcoins or transfer your bitcoin to International markets like binance , poloneix , bittrex etc.
So most of the Indian exchanges bringing Peer 2 Peer trading pair.
with the banking ban by central bank(RBI) which held on 5th july , most of the exchanges working on peer 2 peer crypto trading where , users can buy and sell cypto without needing a banking services. Indian exchanges claims that this the most legal way to trade in crypto after ban by RBI.
So what is Peer 2 Peer trading pair ?
This service serves were two individuals interact each other without help of third party. In simple words, buyer and seller can interact each other without any third party. Yes you read it right, with the help of peer 2 peer trading you can buy and sell your favourite cryptocurrency without any third party on their exchanges. There are one useful advantage of peer 2 peer trading that you are move your fund directly between multiple parties.
Peer 2 Peer is a good solution of RBI ban but if you are trading in international exchanges then you don't need to be panic because their are lots of methods where you withdraw your bitcoins into INR directly to your Bank account like skrill , paypal etc. so let's see what Supreme Court will decide. I personally think that RBI cant ban on Cryptocurrencies , because if they do then our country will not grow fast. Blockchain Technology is the future of the world.
what do you think about RBI ban and what's your opinion about peer 2 peer trading?
thanks
@mubbu
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