3 Things You Must Know About Cryptocurrency Trading in India
Stock Market Courses for Beginners / Cryptocurrency Trading Course India
Cryptocurrencies are becoming more competitive in terms of returns every day. You can know more at stock market courses for beginners.
In the last year, Bitcoin’s price has increased by more than fourfold which is magnificent. Many individual investors are trying their luck at this new and exciting asset class because of the high returns.
In India, more young people and first-time investors are interested in investing in cryptocurrencies. But many people have a limited understanding of the crypto markets and so you can join cryptocurrency trading course India to learn more.
Cryptocurrency Investing Is Legal in India:
Cryptocurrencies are sometimes misunderstood to be unlawful.
In 2018, the RBI prohibited banks from aiding cryptocurrency transactions. The entire crypto community in India went crazy as a result of the circular, and they filed writ petitions to overturn the ban.
In the crypto realm, the situation is now flipped completely. Many financial firms are being funded by well-known investors in order to build the space. Retail investors are becoming more interested in dabbling in the market.
Within six months of its introduction, more than 2 million users have registered as investors in crypto start-ups. Take up cryptocurrency trading course India and learn more.
Cryptocurrency Transactions Are Subject to Taxation:
Cryptocurrencies are decentralized, to be sure. They are not governed or controlled by a central authority or government. However, just because you invest in cryptos does not imply you are exempt from paying taxes. Join stock market courses for beginners and learn more about it.
Any money earned in India will be subject to income taxation. Profits gained from cryptocurrency investments are subject to capital gains tax, just like any other investment.
It could be considered as short-term or long-term capital gains depending on how long you held it. Others report it as income from other sources on their tax forms.
However, the question of whether cryptocurrency is a currency or a commodity remains unanswered. There is no way to know how these assets will be taxed unless the market is governed by strict regulations. Enroll in stock market courses for beginners to learn more.
Cryptocurrencies Are Not Prohibitively Expensive:
When we speak cryptocurrency, most people immediately think of Bitcoin.
You may be aware that the price of a single Bitcoin has risen to a stunning 30 lakhs per coin. Many would-be investors believe they cannot afford to invest in such high-value assets and therefore avoid them.
Most people are unaware that Bitcoins can also be purchased in fractions. There are cryptocurrency exchanges in India that allow consumers to purchase Bitcoin for as little as INR100. Learn more at cryptocurrency trading course India.
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