Buy Bitcoin
in India

If we consider Bitcoin to have intrinsic value due to some of its features such as limitedness and unforgeability and use it as a tool that preserves value over time, perhaps it is an asset worth buying. Bitcoin can be presented as a type of investment that preserves the value of your savings in the long term. However, we recommend that before purchasing Bitcoin, study the ins and outs of the Bitcoin market and consult with professionals.

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.

You can purchase a small amount of Bitcoin, unlike stocks. The least amount of Bitcoin that you can likely purchase is equivalent to 1 Satoshi, or 0.00000001 Bitcoins, depending on its price of the day.

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.

Due to theft, computer malfunction, loss of access keys, and other reasons, users may lose Bitcoin and other cryptocurrency tokens. Although hot wallets are still practical for some users, cold storage (also known as offline wallets) is one of the safest ways to store Bitcoin because it cannot be accessed online. Consider using a hardware wallet for all of your long-term Bitcoin and cryptocurrency storage if you’re looking for the safest storage option.  For short-term investments, you can also keep your Bitcoins on our exchange wallet in order to trade more easily.If you want to hold Bitcoin long-term, although you can still keep your cryptocurrency in this wallet, it is better to not keep it in the exchange wallet nor the software one. The safest option would be a hardware wallet.