Are ASIC miners banned in India?

In 2017, India banned the import of ASCI machines specifically designed for crypto mining, which forced Bengaluru-based blockchain technology company AB Nexus to quit mining bitcoin and ethereum. Those investing in the segment are constantly in fear of a sudden clampdown from the government.

Can you mine bitcoin with ASIC?

Whether you’re mining Bitcoin, Litecoin, DASH, or a variety of other digital currencies, an ASIC miner is the most effective method to mine crypto.

Is Antminer available in India?

Just get them online from Ubuy India, which offers a huge range of Antminer products at discount prices in India.

Do you need ASIC to mine bitcoin?

Since it’s now impossible to profitably mine Bitcoin with a standard computer or laptop, you’ll need specialized hardware called ASICs.

Is Bitcoin mining is legal in India?

Unlike China, India hasn’t created any regulation that bans people from mining cryptocurrency. In fact, given that public cryptos are mined using your own computing equipment, it doesn’t interfere with any laws at the moment.

Is mining bitcoin legal in India?

Is it legal to buy bitcoin in India?

As it stands, bitcoin buying, selling, trading, or mining is not illegal by any law in India. Tellingly, the publication’s source also adds that any decision that ruled the cryptocurrency to be illegal in India would mean that India’s nascent but growing bitcoin industry will have to shut down.

How much does it cost to mine bitcoin in India?

The price of a decent ASIC unit, such as the Antminer S9, will be about Rs 1.5 lakh. You also need mining software to mine and set up a digital wallet, to store the reward you will earn. There are several free mining software available online. Is Bitcoin mining profitable? The answer to whether Bitcoin mining is profitable is not cut and dry.

Are there any ASIC miners available on Amazon?

There are lot of asic miners available on Amazon , but you have to be very specific in choosing the hardware ….. just keep holding and mining , good days are coming. Is purchasing an ASIC miner and mining bitcoins still viable in late 2019?

What is bitcoin mining hardware and software requirements in India?

Bitcoin mining hardware and software requirements in India . Mining is a hardware-intensive process and requires the installation of expensive computing machines, also called ‘mining rigs’. Here is a list of software and hardware you will need to mine. The hardware element in mining can be a GPU or an ASIC (application-specific integrated circuit).