The rules and regulations about crypto in India are changing, and this is making things uncertain and a bit confusing for crypto investors and traders in India.
#Crypto investors and traders in India are facing challenges:
- There's a 30% flat tax without any setoff, making it less profitable.
- A 1% TDS is affecting trading capital.
- There's uncertainty about decentralized exchanges (DEX), mobile wallets, and hardware wallets.
- Some international exchange URLs are blocked, and bank accounts are getting frozen.
- There are scams happening in P2P transactions.
Despite these issues, some people are considering moving to Indian exchanges because of the policies by the government.
However, it's important to note:
- Indian exchanges rely on liquidity from international exchanges.
- Most of the coins on Indian exchanges are listed later, which will make it difficult for you to catch on trends and will be used as exit liquidity.
- Indian exchanges have limitations on depositing/withdrawing crypto.
- Indian trading platforms add promising cryptocurrencies after the excitement has faded, turning investors into the last ones trying to sell their assets.
