Frequently Asked Questions

Xbtcindia is a Crypto Currency Broker Cum Exchange.
Buy Bitcoin, Litecoin and Dogecoin from a trusted provider.
All orders are processed manually, by our experts, to ensure there is no mistake!
Crypto currencies are digital assets or alternative currencies that are stored in computer basis and have no physical form. Anybody can buy and sell crypto currencies.
Crypto currencies are decentralized hence no one issues or controls them, they run on simple and logical computer codes and the value of the currency is determined by the market.

Bitcoin is a popular digital currency, created and stored electronically. It’s not centrally controlled, nor are bitcoins printed; instead, bitcoins are made by people and businesses through software that solves mathematical problems.
Bitcoins belong to a growing category of digital money called cryptocurrency.
One of Bitcoin’s most distinguishing characteristics is that it’s completely decentralized. This means that its network is not controlled by any one institution. This makes a lot of people feel secure because it means that a large bank or institution won’t be able to control their money.

There’s many advantages to using Bitcoin, many of which include:
Quick, Easy and Convenient - You can send and receive bitcoins anywhere in the world at any time in a matter of a few minutes.
Low Fees – Normally, the fees for Bitcoin transactions are very small. Bitcoin fees can fluctuate due to the dynamic fee market. In addition, some wallets will also allow you to pay a fee you’re willing to spend. With higher fees, you’ll get faster confirmation of your transactions.
Secure – When using Bitcoin, users remain in control of their transactions. You’re also protected from identity theft since Bitcoin payments can be made without personal information associated with the transaction.
Transparent - All Bitcoin transactions are fully available on the block chain for anybody to verify and use in real-time.

Bitcoin transactions occur between electronic Bitcoin wallets, and are digitally verified and signed for security. Thanks to the massive public ledger called the blockchain, users are aware of all transactions, and its history and when bitcoins were generated can be tracked.
If you send some bitcoins to, say, a friend, that transaction will have three pieces of information:
The amount of Bitcoin you wish to send.
The recipient’s wallet address, generated randomly and consisting of a sequence of letters and numbers – this is where you’ll be sending your funds.
A private key, which is also a unique sequence of numbers and letters exclusively available to you. This key will allow you to access your wallet.
Once a transaction is set up, it makes its way into the Bitcoin network where it awaits verification. Through the process of mining, miners use software to solve mathematical problems. Once completed, the transaction successfully moves into the block chain.

Bitcoin has a strong track record for security and privacy, thanks to its protocol and cryptography. With private keys, individuals’ wallets are kept secure. The only way this would not be true is if users lose this information.
This is why, you should always take care with securing your funds, and we’ve assembled some tips and tricks to help you along the way.
We charge a fees on every transaction request.
Depending on the market conditions, this usually ranges between 5% to 20%.
The final amount you have to transfer is shown including this fee.
Your fees goes into ensuring that all transaction requests are processed successfully, without any problems or glitches.
A part of this fees is also added by us to every block chain transaction to ensure that is is verified quickly on the network and to make sure you get what you want, when you want it.
Further, the fees goes a long way in helping us ensure a safe and secure exchange, for all our users.
You can drop an email at [email protected] or give us a call on 1-800-120-7404
As a part of our verification procedure, we need to obtain certain customer identification documents including a copy of PAN card and address proof from every customer. KYC Policy helps us ensure that the services provided by Xbtcindia are not being used for money laundering activities or the funding of terrorism or any other criminal activities.
Anti money laundering (AML) refers to a set of procedures, laws and regulations designed to stop the practice of generating income through illegal actions.

The first step for you, would be to create an account with us. For this, you are also required to complete the KYC process.
Please note that we will be unable to fulfill any transaction requests until your KYC is complete. As such, please make sure that you do not make any deposits or payments etc till then.

Once you have created an account and the same has been verified, you can proceed to use the bank transfer or Paypal option to make a payment to buy your choice of crypto currency from Bitcoin, Litecoin or Dogecoin. You will get regular notifications with the status of your transaction. You can also check the history of your transactions and other important details in your account.
To create an account, the following information has to be provided -
- Name (as on ID Card)
- Registered Mobile Number and Email Address
- Physical Address

You are also required to provide a scanned and self-attested copies of -
- One ID Card (front and back) (with same address as address proof)
- One Address Proof (electricity bill, rent agreement, utility bill etc)
- Your Pan Card
- Your recent Passport Photo

For complete information on our KYC Policy, and documents that you can submit to open an account with us, please visit this link - https://www.xbtcindia.com/page/kyc-policy
Bitcoin is a popular digital currency, created and stored electronically. It’s not centrally controlled, nor are bitcoins printed; instead, bitcoins are made by people and businesses through software that solves mathematical problems.
Bitcoins belong to a growing category of digital money called cryptocurrency.
One of Bitcoin’s most distinguishing characteristics is that it’s completely decentralized. This means that its network is not controlled by any one institution. This makes a lot of people feel secure because it means that a large bank or institution won’t be able to control their money.
Yes, you can buy Litecoin and Dogecoin, on our website.
Other currencies and pairs will be added soon as well!
Please choose a strong password while creating your account on XBTCINDIA.
A nice strong password would ideally include a mix of alphabets, numbers, upper case characters, lower case characters, numbers and special characters.
We might contact you if we feel that the password you have set is weak.
Please note that we are not responsible in any way, for your account getting hacked due to a weak password. If you believe some one has un-authorized access to your account, you are required to contact us immediately, and / or contact us to close / block your account.
Yes, transaction requests can be cancelled before payments are made.
Additionally, we might cancel some transactions where a user has not completed their KYC or if we believe there is some thing suspicious about the transaction.

Unfortunately, Xbtcindia is unable to cancel or reverse your transactions once sent.
This is not due to our business model, this is simply how crypto currencies work. As unfortunate as it is, transactions on the Exchange network are designed to be irreversible and we have no control over them. This applies in all cases
If you were hacked and someone sent out your coins
If you sent to the wrong bitcoin address
If you released bitcoins by mistake
If you were scammed
A crypto currency address looks like a long string of random letters and numbers. Addresses are used when you want to send or receive crypto currencies. Each wallet has at least one receiving and one sending address.
The block chain, is a huge, shared public ledger where the entire Bitcoin network is situated. All verified transactions are added to the Block chain, where everyone can see information pertaining to Bitcoin wallets and verify their balances.
The Instant Exchange Feature allows you to directly convert from one cryptocurrency to another.
For example, Bitcoin to Litecoin, or Litecoin to Ethereum, etc.
Please note that this feature is experimental in nature and you are advised to first place a small transaction to test, before trying to exchange any large amounts.
Yes, absolutely!
KYC is a must and mandatory for all users.
Please note that you will be unable to make any transactions on Xbtcindia until and unless you have done your KYC.
For this, we require at least three to four identifying documents.
Please note that KYC rules and regulations are bound to change from time to time. As a Xbtcindia user, it is your responsibility to keep yourself up to date with our KYC policies and ensure that you are always in compliance of the same.
Further details about KYC can be found here - https://www.xbtcindia.com/page/kyc-policy
Sometimes, due to a breakage of systems, we reserve the right to reject certain transactions.
This can happen when,
1. Markets and prices see sudden price movements or crash,
2. There is a huge transaction back-log, in our systems,
3. There is a transaction backlog, in the block chains, due to which settlements are delayed,
4. There is a major price difference between the exchanges, and we are unable to establish an average selling price for assets,
5. If due to an error or bug in our systems, the exchange rate in the transaction request, does not match the actual rates, at that time,
6. If a customer places transaction requests outside our KYC policy, AML / CFT policy, Terms of service or indulges in any behavior detrimental to the operations of our systems, in any way,