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Can I wire transfer money in USD/EUR to bank outside of

Customer Question
India? I would like to...
Can I wire transfer money in USD/EUR to bank outside of India? I would like to purchase cryptocurrency from my savings through some exchanges in the US and other countries for which I would need to send money to these exchanges in USD
Submitted: 7 months ago.Category: Consumer Protection Law
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Customer reply replied 7 months ago
I would like to know the following;1) Can I transfer money from India to USD to buy cryptocurrencies?
2) I know cryptocurrencies may not fall into any category and so what category will it fall into?
3) Anything I should be aware about while making these tranfer?
Answered in 1 day by:
12/23/2017
Consumer Protection Lawyer: WiseOwl58, Lawyer replied 7 months ago
WiseOwl58
WiseOwl58, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 4,564
Experience: Consumer Protection Expert and Advocate
Verified

1) Can I transfer money from India to USD to buy cryptocurrencies?

YES, YOU CAN HAVE A US DOLLAR DENOMINATED ACCOUNT IN THE USA OR ELSEWHERE IN OTHER COUNTRIES.

2) I know cryptocurrencies may not fall into any category and so what category will it fall into?

THEY FALL INTO THE CATEGORY OF SECURITIES PURCHASES, JUST LIKE STOCKS AND BONDS.
3) Anything I should be aware about while making these tranfer?

JUST MAKE SURE YOU KNOW THE COMPANY YOU ARE BUYING THE CRYPTOCURRENCIES FROM. THERE ARE A LOT OF DISREPUTABLE COMPANIES SELLING ICOS (INITIAL COIN OFFERING) SO MAKE SURE YOU UNDERSTAND WHO YOU ARE BUYING FROM AND WHAT THE REPUTATION OF THE SELLER IS.

Please rate five stars ***** by clicking on the stars and pressing send.

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Good luck to you. I wish you all the best.

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Customer reply replied 7 months ago
My question is specifically aimed at how India looks at this investment and generically by other countries. I am aware that how usually it is perceived by other countries.
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