Next Story. Legal status is definitely not there,» he added. However, in spite of all the curiosity, many of us have wondered if it is safe to buy, store and sell bitcoins in India. The Bitcoin network and currency was introduced by an unknown person or group Satoshi Nakamoto in Cryptocurrency is basically digital money and uses cryptography to secure its transactions. Is it Legal to Invest in Bitcoins in India? Sandeep Goenka, CEO of Zebpay, one of the largest bitcoin exchanges in the country had said, «Indians are enquiring about bitcoins as an alternative and safe investment option.