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How to buy Ankr in India
Is ANKR a good investment in India?
ANKR debuted on the market in March 2019 and was trading at about $0.012. Prior to the price increase becoming more pronounced in August of 2020, prices grew gradually. ANKR reached its peak at $0.019 at that time. ANKR's value increased by 500% by the end of 2020 to $0.0084. The biggest change to date for ANKR came in 2021. By the end of January, prices had risen to $0.012 and in February, they quickly surpassed $0.02 and $0.03 as well. When Ankr's market cap first surpassed $1 billion in March, the growth became exponential. On March 28, 2021, ANKR reached an all-time high of $0.22, marking the peak of the rapid increase. Ankr's market cap was over $1.3 billion at that point. The first week of April saw a price retracement and a drop below $0.12, followed nine days later by a retesting of $0.21. ANKR was able to recover $0.18 by the end of the month despite experiencing a further pullback of more than 50% in the second half of April. This represented over 2,000 percent gains for the year as a whole.
According to some cryptocurrency experts, the price of Ankr is expected to range between $1.15 to $1.32 in 2030 with the average price of around $1.23. But keep in mind that this is not a buy signal or a financial advice. We suggest buying into the cryptocurrency market after doing some research and consulting a professional.
What is ANKR ?
The history of the Ankr platform dates back to 2017. This platform aims to create an efficient blockchain framework that provides distributed cloud computing. In general, if we want to define the Ankr platform in a simple phrase, we can say that Ankr is a blockchain-based cloud infrastructure project. The purpose of blockchain infrastructures is to enable resource providers and end users to easily connect to blockchain technologies and DeFi applications. Ankr's proprietary cloud infrastructure operates independently of public providers and is powered by a distributed database to increase flexibility and stability.
Ankr uses blockchain technology as an essential part of the infrastructure to facilitate payments on the platform, measure globally distributed resources, process information from users or resource providers, and data center algorithmic suggestions through smart contracts.
Check out Ankr official website for more information and updates.
Is Ankr legal to buy in India?
Yes, it is allowed to trade, buy and sell cryptocurrency in India. In March 2020 the Supreme
Court of India issued a case on the regulation and acknowledgment of the use of digital
currency inside the country. As stated in the above-mentioned document “Technological
innovations, including those underlying virtual currencies, have the potential to improve the
efficiency and inclusiveness of the financial system.” Since then, the Indian government has
been considering the creation of a new legal framework for cryptocurrencies.
Is Ankr taxed in India
Yes, cryptocurrencies are taxed in India. Before 2022, the Indian government did not have a
clear stance on the classification and taxation of cryptocurrencies such as Bitcoin. However,
recently the Indian authorities recognized cryptocurrencies as Virtual Digital Assets (VDAs) and
established a tax framework for them. This is the first time that cryptocurrencies have been
acknowledged and taxed in India, as the Income Tax Department (ITD) introduced a new
section, Section 2(47A), into the Income Tax Act to define the term Virtual Digital Assets (VDAs)
and the regulations around its taxation. The definition is comprehensive and encompasses
various types of crypto assets, including cryptocurrencies, non-fungible tokens (NFTs), tokens,
According to the above-mentioned Tax Act, if you engage in cryptocurrency trading, selling, or
spending, you will be subject to a 30% tax on any profits you make. Additionally, if you sell
crypto assets that are worth more than INR 50,000 in a single financial year, you will also be
subject to a 1% Tax Deducted at Source (TDS). Furthermore, if you are seen as earning income
from other sources in cryptocurrencies, you may also be required to pay income tax at your
individual tax rate. In conclusion, you may be required to pay a 30% tax on the following
cryptocurrency transactions: Selling cryptocurrencies for Indian Rupees or another fiat currency,
Trading cryptocurrencies for other cryptocurrencies (including stable coins), Using
cryptocurrencies to purchase goods and services.
It is important to note that the tax treatment of cryptocurrencies in India may change in the
future as the government continues to consider new regulations. We would recommend
consulting a local tax expert or financial advisor for the most up-to-date information on the tax
treatment of cryptocurrencies in India.
After you've bought Ankr in India
The native utility and governance token of Ankr platform, ANKR, has many uses, including paying for goods and services within the Ankr ecosystem and staking to generate passive income. ANKR is a utility token with a variety of applications. In addition to its use for staking, it can be used for protocol and dApp deployment, as well as voting on governance proposals. ANKR also serves as a reward for network participants.
Who can buy Ankr in India?
In India, anyone who is 18 years of age or older and has a valid government-issued ID, such as
a PAN card or Aadhaar card, can buy cryptocurrency. The ideal method of acquiring digital
assets in India would be through using a cryptocurrency exchange. Additionally, it's important to
only use trusted and regulated exchanges for buying and selling cryptocurrencies. Our
exchange offers you the opportunity to buy, sell, and trade cryptocurrency with high security
while operating legally within India. Plus, a variety of convenient payment methods are offered,
including Apple Pay, Google Pay, credit and debit cards, bank transfers, and PayPal, without
any transaction fees.
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Frequently asked questions
Ankr’s cost-effectiveness, decentralization, personalization and compatibility with the environment are among the advantages of Ankr digital currency that make this digital currency popular among people. Also, ANKR has a capped max supply of 10 billion making it a scarce asset, like Bitcoin. After the maximum amount is reached, no new tokens will be released, meaning any increase in demand will drive up ANKR’s price. Plus, note that this is by no means a financial advice or is trying to encourage you for a purchase.
In India, cryptocurrency is subject to taxes, and it’s important to report it correctly to avoid
penalties and fines. You are advised to keep detailed records of all your cryptocurrency
transactions, including the date of the transaction, the type of cryptocurrency, the amount, and
the value in INR at the time of the transaction. Also, keep proof of payment of taxes, such as the
receipt of tax payment, as you may need to provide it as evidence in case of an audit. It’s
important to consult a tax expert or a financial advisor if you’re unsure about how to report
cryptocurrency taxes in India, as the rules and regulations can be complex. Filing taxes correctly
can help you avoid penalties, fines, and legal issues in the future.
In India, according to the Income Tax Act, there are some situations where you will not have to
pay taxes on your cryptocurrency. These include:
● Transferring crypto between your own wallets: When you transfer crypto from one of
your wallets to another, you won’t have to pay taxes on it.
● Receiving gifts of crypto: If you receive a gift of cryptocurrency worth up to RS 50,000 or
more from close family members, you won’t have to pay taxes on it.
It’s important to note that these exemptions are subject to change and it’s always best to consult
a tax expert to determine your specific tax liabilities.
There is no established minimum amount assigned for purchasing Ankr. On our exchange, the minimum order size for buying ANKR is $10. Also, you have a variety of payment options to choose from. The transaction will be completed and displayed on your portfolio of cryptocurrency assets.
The adoption of cryptocurrency in India is growing, but the exact number of individuals owning
crypto assets is not publicly available. Moreover, it is challenging to determine the exact number
of crypto owners as many people hold crypto assets anonymously. However, according to triple
A data in 2022 collected by crypto professionals, it’s estimated that about 11.5% of the Indian
population, which would be around 157 million people, may hold some sort of crypto assets.
ANKR currency can be stored in all kinds of hardware and software digital wallets. As you know, wallets in the world of cryptocurrencies are like your bank account, which you can safely store cryptocurrencies using the address provided by the wallet. Hardware wallets are among the wallets that are able to store Ankr’s cryptocurrency. These wallets have high security, but due to their high price, fewer users work with these wallets. Another option is to keep your ANKR tokens safe through software wallets. You can also use the wallet offered by our exchange, which greatly simplifies trading ANKR cryptocurrency because it can connect to numerous trading options quickly.