Let's Talk About Bitcoin!
- Thread starter Apurva
- Start date
Mohit kharb
KF Ace
I think investing in bitcoin is useless in India because it is not regulated by any agency like SEBI or RBI. Indian government imposed very heavy taxes on bitcoin transactions and tells the banks to watch the bitcoin transactions.
It depends on your goals with bitcoin. The whole point of cryptocurrency is to be decentralized, while some regulation may benefit it too, and you have to understand eventually it will be regulated, it is still a new way of monetary transactions, that is why it is very profitable too, there are countries making it fully legal and using it every year. On the point of tax, that depends on your goal, if your goal is to trade bitcoin then buy more bitcoin with the profit and hold it , tax should not be concern, and even if your goal is to make monthly profits or whatever through trading, if you get in tax bracket even after paying tax you will have plenty of profit left from it.
sundernarwat
KF Ace
@Mohit kharb Bitcoin is still in its early phase of adoption and finding its proper use cases,
those who believe in bitcoin have also thier own use cases in which they use Bitcoin,
Some use it as Store of value, some use this as transferring value , some consider this as trading instruments
Global Society and governments will finally reach to actual use cases in future, currently it is like an financial experiment
Investing is all depends on how investor is comfortable with investment Asset Class, its investor decision
Yes tax to too high on profits made,
