Selling Ethereum (ETH) via peer-to-peer (P2P) platforms in New Delhi offers flexibility, competitive rates, and direct control over transactions. This guide covers every step to securely convert your ETH to cash or bank transfers while navigating local regulations and avoiding scams.
## Why Choose P2P for Selling ETH in New Delhi?
P2P exchanges bypass traditional intermediaries, letting you set your own prices and payment terms. Benefits include:
* Lower fees compared to centralized exchanges
* Multiple payment options (UPI, IMPS, cash deposits)
* Faster INR withdrawals without bank delays
* Anonymity with verified traders
* Compliance with India’s crypto tax laws through transaction records
## Step-by-Step Guide to Selling ETH via P2P in New Delhi
Follow these steps for a seamless transaction:
1. **Select a P2P Platform**: Sign up on Binance, WazirX, or CoinDCX – all support INR and have robust escrow systems.
2. **Complete KYC**: Submit PAN and Aadhaar for identity verification (mandatory under Indian regulations).
3. **Create a Sell Ad**: Specify ETH amount, price per coin (INR), accepted payment methods (e.g., UPI, bank transfer), and transaction limits.
4. **Wait for Buyer Response**: Buyers will contact you via platform chat. Check their trade history and completion rate.
5. **Initiate Trade**: Once matched, transfer ETH to the platform’s escrow. Share payment details with the buyer.
6. **Confirm Payment**: Wait for INR in your account. Verify receipts before releasing ETH from escrow.
7. **Rate the Buyer**: Leave feedback to build your seller reputation.
## Top 5 P2P Platforms for ETH Sales in Delhi
* **Binance P2P**: Largest global volume, 100+ payment methods, and 0% trading fees.
* **WazirX**: Popular Indian exchange with auto-matching and 24/7 dispute support.
* **CoinDCX**: High liquidity and user-friendly interface for beginners.
* **Paxful**: Supports cash meets in Delhi (use public locations only).
* **LocalBitcoins**: ETH trading via BTC pairs; ideal for large transactions.
## Essential Safety Tips for Delhi P2P Traders
Protect yourself with these practices:
* **Never release ETH without confirmed payment**: Escrow holds crypto until INR is received.
* **Use traceable payments**: Avoid cash deals; opt for UPI or bank transfers with screenshots.
* **Verify buyer profiles**: Trade only with users having 95%+ completion rates and 20+ trades.
* **Record everything**: Save chat logs and payment proofs for tax filings (required under Income Tax Act).
* **Report suspicious activity**: Use platform dispute buttons immediately for unresolved issues.
## Tax Implications for ETH Sales in India
Under Section 194S, 1% TDS applies on transactions exceeding ₹10,000 per trade. Capital gains from ETH sales are taxed:
* 30% + cess on profits if held 12 months (long-term)
Maintain logs of transaction dates, amounts, and acquisition costs for ITR filings.
## FAQ: Selling ETH via P2P in New Delhi
* **Q: Is P2P ETH trading legal in Delhi?**
A: Yes, but you must pay taxes on profits and comply with KYC norms on exchanges.
* **Q: What’s the minimum ETH I can sell?**
A: Most platforms allow sales from 0.01 ETH (~₹2,000).
* **Q: How long do P2P transactions take?**
A: Typically 15-30 minutes after payment confirmation.
* **Q: Can I sell ETH for cash in Delhi?**
A: Yes, but meet in secure public spaces like malls during daylight. Avoid high-value cash deals.
* **Q: What if a buyer doesn’t pay after I send ETH?**
A: Open a dispute; the platform’s escrow will return your ETH if payment isn’t verified.
* **Q: Are there daily selling limits?**
A: Exchanges impose limits (e.g., ₹10 lakh/day on Binance); complete KYC for higher ceilings.
Mastering P2P ETH sales in New Delhi requires vigilance but offers unmatched convenience. Start with small trades, build your reputation, and always prioritize platform security features for risk-free transactions.
