Bitcoin is a cryptocurrency so the risk is involved in investing in it. Let’s see, Is it safe to invest in Bitcoin in India and It is legal to trade in India.
Bitcoin investing is trending in India. Most people are suggesting, to invest in Bitcoin. However, They are not telling about the risk involved in it.
Bitcoin is a cryptocurrency and It comes in high risk, high returns on investment. It means you can generate maximum profit in it or you can lose your full money which you have invested.
So, According to me, you should not invest in bitcoin if you don’t have knowledge about it. You should have knowledge of technical or demand and supply.
In this article, we are talking about “Is it legal and safe to invest in Bitcoin in India or not“. and many more thing that you want to know.
What is Bitcoin?
Bitcoin is a cryptocurrency and Digital Coin which is supported by Blockchain. It is also known as virtual currency. It is not own and controlled by anyone.
It gives a fast moment in price. Therefore, many investors and traders have been attracted to it. But, According to you don’t go in it, If you don’t have knowledge about it and its moment.
Let’s see, It is safe to invest in Bitcoin in India or not. Because it is most before investing in Bitcoin.
Is it safe to invest in Bitcoin in India or not
Investing in Bitcoin totally depend on you. I can only give you knowledge and information that I know.
Yes, It is safe to invest in Bitcoin in India. In fact, an investment in Bitcoin is actually safer than many other investments like the investment in altcoin, and other cryptocurrencies. Here are some reasons that an investment in Bitcoin is the safest investment that you can make today.
But, As I first told you that you should have basic knowledge about cryptocurrency and Bitcoin. It is not as safe as other safe investments with risk-free. Bitcoin is not a risk-free investment. Let’s check, Bitcoin investing is legal in India or not.
Bitcoin investment and trading are legal in India?
Yes, Bitcoin investment and trading is legal in India. In 2018, The Indian government was deciding to ban bitcoin and cryptocurrency in India. But, They have not banned it.
The Indian supreme court has ruled that the RBI circular which bans banks from providing services to cryptocurrency businesses is unconstitutional. They say that it is safe to invest in Bitcoin but the people have knowledge about it.
Both the government and the RBI have confirmed that cryptocurrencies, including bitcoin, are legal in India. So, Bitcoin trading and investing is legal in India. Also, see a detailed article on Bitcoin trading and investing is legal or not.
Do I have to pay taxes on Bitcoin in India?
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. It is an important and reason the investors without knowledge cannot gain any profit.
As I told you, 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.
Related:- 5 Best cryptocurrency to invest
Is it better to invest or trade Bitcoin in India?
The investment in bitcoin is better for you this can know by giving answers to these questions. 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.
It is safe to invest in Bitcoin in India. If you have knowledge about it otherwise you are just doing gambling, Because at last, you will lose your money in it.
Because Bitcoin prices can swing wildly. You can be up 20% in one week and lose it all in a matter of a few minutes. We’re serious. Bitcoin prices are extremely volatile, which means that you can earn large sums of money or lose large sums of money.
Last word from Mini-invest.
I hope you have got an answer to your question that “Is it legal and safe to invest in Bitcoin in India or not”. the answer is yes, It is safe to invest in Bitcoin in India. But, You should knowledge and information about bitcoin.
If you have any recommendation and feedback then you can leave it in the comment box below. It will help me to improve my article according to you.
Related:- 5 best cryptocurrency to invest