Ask HN: How to receive payments from India for an international company?

Re:Ask HN: How to receive payments from India for an interna... by sayelt on Saturday December 17, 2016 @11:26AM (#13201226)

Localbitcoins should allow you to buy BTC other than with a bank account.

https://localbitcoins.com/country/IN

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Re:Ask HN: How to receive payments from India for an interna... by danieltillett on Saturday December 17, 2016 @04:00PM (#13202571)

This is not really a low friction or cheap solution.

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Re:Ask HN: How to receive payments from India for an interna... by sayelt on Saturday December 17, 2016 @05:38PM (#13203121)

Why not?

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Re:Ask HN: How to receive payments from India for an interna... by danieltillett on Saturday December 17, 2016 @09:39PM (#13204018)

I answered it in the response to the OP. A wire transfer would be cheaper and have lower friction.

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Re:Ask HN: How to receive payments from India for an interna... by sayelt on Sunday December 18, 2016 @12:30PM (#13206612)

That's bullshit. Banks are the ones with the highest friction and fees.

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Re:Ask HN: How to receive payments from India for an interna... by danieltillett on Sunday December 18, 2016 @03:50PM (#13207564)

The bitcoin spread is over 25% right now in India. That combined with the paperwork requirement needed for a business to buy bitcoins does not make for a low friction experience.

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Re:Ask HN: How to receive payments from India for an interna... by sayelt on Sunday December 18, 2016 @11:38PM (#13209532)

What paperwork do you need as a business to buy bitcoin?

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Re:Ask HN: How to receive payments from India for an interna... by danieltillett on Monday December 19, 2016 @01:13AM (#13209773)

Thanks to the RBI you need to go through the full KYC process - basically the same as setting up a business bank account. This in not low friction.

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Re:Ask HN: How to receive payments from India for an interna... by sayelt on Monday December 19, 2016 @11:26AM (#13212456)

With banks you always go through KYC/AML, this is nothing to do with bitcoin, and everything to do with banks.

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Re:Ask HN: How to receive payments from India for an interna... by danieltillett on Monday December 19, 2016 @03:37PM (#13214781)

Well everything to do with the RBI regulations on bitcoin in India. The end outcome is that bitcoin is not a viable option to solve the India payment problem.

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Re:Ask HN: How to receive payments from India for an interna... by sayelt on Wednesday December 21, 2016 @09:08PM (#13234220)

If your legal system is fucked, that's not bitcoin's fault.

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