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Author: Admin | 2025-04-28
Thoughts to share. “If you made a loss in Bitcoin, you cannot set it off with profit in Ethereum. The new taxation law was clarified in parliament today. My suggestion is to sell everything you have before 31 March 2022. And start fresh from April 2022,” Coin Crunch India CEO, Naimish Sanghvi tweeted. If you made loss in Bitcoin, you cannot set it off with profit in Ethereum. The new taxation law was clarified in parliament today. My suggestion is to sell everything you have before March 31, 2022. And start fresh from April 2022. Cost of mining cannot be deducted too! pic.twitter.com/pfSGPAOFBO— Naimish Sanghvi (@ThatNaimish) March 21, 2022 However, on 18 April 2022, there was another blow for India’s crypto traders as a number of crypto exchanges in India stopped the sale of cryptocurrencies through rupee deposits made with the government-backed payments system Unified Payments Interface (UPI), freezing crypto payments across the country. How to buy and sell cryptocurrency in IndiaTaking all that in, potential and experienced crypto investors were left wondering: how can I invest in cryptocurrency in India now? The possible answer could come in four steps.Choose a crypto exchange “For beginner traders, it is better to trade or own top cryptocurrencies by market share. There are different crypto trading platforms available in India like Paxful, a peer-to-peer marketplace, Zebpay, Wazirx, BitBns and more,” said Dr Hamed Taherdoost, e-business professor at University Canada West.In order to purchase cryptocurrency in India, you should first choose a crypto exchange. You can look at the biggest crypto exchanges accessible in the country, yet you also need to make sure they accept Indian rupee (INR), or you’d need to convert currency from US dollars (USD). Below are the top-ranking cryptocurrency exchanges by CoinMarketCap’s exchange score that support INR as of 25 April 2022. CoinMarketCap ranks and scores exchanges based on web traffic factor, average liquidity and volume, as well as the confidence that the volume reported by an exchange is legitimate. Binance: Founded in 2018, Binance is currently the largest decentralised crypto exchange by daily trading volume, which exceeded $12.6bn at the time of writing (25 April). KuCoin: In addition to spot trading of cryptocurrencies, the Hong-Kong-based platform offers margins, futures and peer-to-peer (P2P) trading, with a daily trading volume of $1.8bn at the time of writing.Huobi Global: Launched in 2013 , Huobi allows trading derivatives, taking, crypto loans and crypto yield products, apart from spot trading. Its daily trading volume stood at $1.5bn. WazirX: Launched in 2018 and part of the Binance group, WazirX has a monthly volume of $5.4bn and six million registered users. The platform is India’s largest crypto exchange.DigiFinex: The platform has four million users globally, with a daily trading volume of $1.7bn.Note that cryptocurrency markets are volatile. Trading volumes remain anything but stable. Always conduct your own due diligence before committing to a cryptocurrency exchange.Choose convenient payment methodAfter choosing a crypto exchange, it is time to figure out what payment method would suit you. While UPI
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