Is earning from crypto legal in India? From being called speculative products to ‘virtual digital assets’ (VDAs), cryptocurrencies have come a long way. From April 1, India introduced a tax on all VDAs. The law states that any income earned from the transfer of digital assets would be taxed at 30 per cent with no deductions or exemptions.
Is investing in cryptocurrency safe in India? Even investing in the world’s most valuable asset, gold, has its own set of risks. Crypto is no different. Understand those risks properly and only if you are comfortable with those, take the plunge. For example, if you are taking a risk on Rs1,00,000 to earn Rs500, then that is not a recommended investment choice.
Can I buy Bitcoin for 100 rupees in WazirX? The price shifts almost every second. However, you can buy a fraction of a Bitcoin at prices as low as INR 100 on WazirX!
Is WazirX legal in India? However, it doesn’t mean that you can’t trade in cryptocurrencies legally. Exchanges like WazirX operate on self-imposed regulations, where one is held to the same standards as a traditional exchange.