So yes, bitcoins are a very much safe investment in India. The already secure nature of Bitcoins, thanks to the cryptographically powered blockchain, makes them a safe asset class. Plus, the strong comeback in Bitcoin prices, despite the Covid scare, is another aspect to note when evaluating it as a safe and favorable investment option. Sep 14, · It is perfectly safe to invest in Bitcoin in India. In fact, an investment in Bitcoin is actually safer than many other investments. Here are some of the reasons that an investment in Bitcoin is one of the safest investments that you can make today. Dec 15, · For financial investors, Bitcoin is bitcoin a safe investment India is an interesting currency because it is completely free from fundamental influences. The texts on this page are not an investment recommendation. Bitcoin: Bearish pattern. No mutual funds or bonds.
Is bitcoin investment safe in indiaIs it Safe to Invest in Bitcoin in India? - InvestoTrend
You can look for various digital currency exchanges to buy bitcoin. You can purchase Bitcoins with a credit card. They also offer tutorials on digital currencies. In India, you can purchase Bitcoin from Zebpay exchange.
Zebpay has Android and iPhone app which lets you link your bank account for quick transfers. You can buy Bitcoins by making a payment to Zebpay's bank account. You can also withdraw the money to your bank account, and track data on Bitcoin valuation in the country. Unocoin, another India-based exchange, lets you trade Bitcoins.
They can help you buy, sell, store, use and accept bitcoin. The company claims it has over 1,50, customers. With Prime Minister Narendra Modi-led government going the whole hog to make India a less cash economy, digital cryptocurrency has caught the attention of many Indians. Post demonetisation, leading Bitcoin exchanges in India witnessed a rise in user base by up to per cent.
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. They are downloading Zebpay as they want to experiment with digital currencies. To be able to store Bitcoins, you'll need a wallet which can be in your computer or smartphone.
You can back up the wallet at another location so that you don't lose data if your hard drive crashes. Depending on your requirement, you can choose a wallet. How much returns can you get if you invest in Bitcoins? The decentralized virtual currency that took the world by storm has witnessed a per cent rise in value in just one year. Its value hit an all-time high when Japan passed a law to accept bitcoin as a legal payment method.
Despite RBI's reluctance to recognize the cyptocurrency, the interest in Bitcoins in India has not waned. After Prime Minister Narendra Modi's demonetisation move, Ahmedabad-based bitcoin trading start-up Zebpay witnessed a 25 per cent surge in revenue. Unocoin, another bitcoin trading firm which had received funds from Blume Ventures, saw a threefold rise in its user base to 1,20, following demonetisation. Value of Bitcoins may not come down as there are limited number of Bitcoins and everyday more and more people are showing interest in investing in the cryptocurrency.
Experts expect the price of Bitcoin to rise, rather than drop, in the coming years. This is especially apparent when cryptocurrencies have been in a three year bear market.
You probably know the story by now — Bitcoin is a decentralized currency powered by individuals rather than a centralized organization. You can send it to someone anywhere in the world and they can then use it. No one has to worry about the transaction getting blocked, high transfer fees, or other problems that arise with international transfer. It means that Bitcoin is much more valuable worldwide than any other form of currency. No aspect of Bitcoin is illegal in India. You can buy, sell, and mine Bitcoin in India with no legal repercussions.
Now, there were some issues with cryptocurrencies in India a few years ago, but those issues were resolved and cryptocurrency was made legal in India. Like most countries, India has an extremely complicated tax code that requires years of experience to untangle. With that in mind, you generally have to pay taxes when you realize earnings on any sale of cryptocurrency in India.
You are also allowed to deduct any realized losses on cryptocurrency, which is very nice. As mentioned earlier, the tax code in India is extremely complex. For that reason, we recommend consulting a tax professional to ensure that you do not get in any trouble with the Indian government and do not pay more taxes than necessary. The difference between investing and trading Bitcoin in India mostly comes down to your personality.
Are you a risk taker? Do you like excitement? Do you enjoy gambling? If you answered yes to those questions, then you might enjoy trading Bitcoin in India. On the other hand, if you dislike gambling, taking risks, and excitement, then you should avoid trading Bitcoin.