May 16, 2022

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5 Things You Did Not Know About Crypto Markets In India

The Crypto market is brimming with new Altcoins and Bitcoins daily. What is most intriguing is that now it has started to create a reputation, increasing the demand enormously. But no matter how much you read about it in the newspapers and Google pages, there will always be something you do not entirely know about the Crypto markets in India. Of course, in this Bitcoin Era, you want to stay updated with relevant information. So, this article is for you.

1. It is Not Illegal 

Most people tend to live in a bubble when they think Crypto is not legal. Although RBI had declared a ban on these assets from being transacted in the year 2018, it is still used by many passionate Crypto users. After nearly two years, the RBI ban had to conclude, and the Supreme Court favoured the use of Crypto in India. For everyone who thinks Crypto is not legal in India, you must understand that it is legal today. As such, you can make the most of Crypto at your leisure and continue to learn more about it without any worries.

2. The Transactions Are Taxed 

Yes, there is no doubt that these Cryptos are decentralised. The best part about using them is that you are their owner in its true sense. This means that another intermediary bank or a Government cannot govern the Cryptos, no matter the power. However, it would help if you kept in mind that whatever profits you make here will also be taxed. As such, Cryptocurrency transactions are entirely taxed in India. Such information is crucial for you to remember.

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3. They Are Inexpensive 

Another intriguing part about Cryptos is that they are highly cheap. Most people think that Cryptos might be very expensive. But the truth is that many people can easily afford it. Many potential sites on the Internet even allow users to purchase Bitcoin starting at as low as $100. So, you must focus on that for the best experience. We promise: that it will help everyone who wants to start with small amounts and risks.

4. The Value Is Genuine

Many of us tend to worry about whether the value of Crypto is genuine. Since the traditional form of currency is prevalent everywhere, people wonder whether the Cryptos will ever make it to such high levels. But truth be told, their value is entirely accurate, and you can also derive potential benefits from them. So, you need not shy away from making investments in this fantastic asset.

5. The Investment Is Simple 

Earlier, making investments in the field of Crypto was not so simple. It was a complex process wherein others found it tough to cope. But now, the assets in Crypto have become more straightforward than ever. As such, you do not have to worry about anything.

These were all the necessary things you needed to know about Cryptocurrencies and investing in them. We hope it helps you massively in the long run.