Synopsis
All crypto exchanges in India are required to be registered with the FIU (Financial Intelligence Unit- India). You’ll be required to do the KYC (Know Your Customer) by the an Aadhar Card and PAN card to the platform.
Is buying Bitcoin and other cryptocurrencies legal in India?
Yes. Investors can buy Bitcoin and other cryptocurrencies from government registered exchanges in India. However, it cannot be used as a currency and is only an investment product.
How do I know if I am buying crypto from the right platform or exchange?
All crypto exchanges in India are required to be registered with the FIU (Financial Intelligence Unit- India). You’ll be required to do the KYC (Know Your Customer) by the an Aadhar Card and PAN card to the platform.
Crypto Tracker
TOP COIN SETSDeFi Tracker39.79% BuySmart Contract Tracker37.00% BuyNFT & Metaverse Tracker35.32% BuyBTC 50 :: ETH 5033.15% BuyCrypto Blue Chip – 530.09% BuyTOP COINS (₹) Bitcoin7,465,497 (10.26%)BuySolana18,665 (5.52%)BuyEthereum282,788 (5.28%)BuyBNB54,325 (2.64%)BuyTether84 (-0.24%)BuyHow do I go about buying Bitcoins?
Once you are registered with the FIU-approved platform, you can choose to buy Bitcoin directly for a specific amount, or choose a systematic investment plan (SIP) as per the services offered by various platforms.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
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To buy bitcoin, you must first transfer the funds to your platform wallet. After buying the crypto, it can be stored in the wallet provided by the exchange.
What if I cannot afford to buy an entire Bitcoin?
Investors could buy parts of Bitcoin and can customize the amount to invest in it. You can start with as low as ₹100 on some platforms.
What kind of taxes are levied on crypto?
Investors must pay a flat tax rate of 30% on profits generated from selling cryptos. An additional 1% TDS (tax deducted at source) is levied on such transactions. Losses will not be offset against gains.
