In India, you’ll pay a 30% tax on profits from trading, selling, or spending cryptocurrency. Additionally, a 1% TDS is applicable on the sale of crypto assets exceeding ₹50,000 (₹10,000 in certain cases) within a single financial year. Income earned through activities like staking, airdrops, or mining may also be subject to income tax at your individual slab rate.
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As of August 2024, there are over 2.4 million cryptocurrencies in the world. However, not all of them are active or valuable, and many are created only to make a quick profit. As of March 2024, there were around 8,985 active cryptocurrencies.
Some of the most well-known cryptocurrencies include:
#Bitcoin (BTC): The original cryptocurrency, created in 2009 by Satoshi Nakamoto.
#Ethereum (ETH): The second largest cryptocurrency in the world, after Bitcoin.
#USD Coin (USDC): Pegged 1 to 1 to the USD, and managed by Circle and Coinbase.
#TRON: A decentralized, blockchain-based operating system with smart contract functionality.
#ADA Cardano: The native cryptocurrency of the Cardano platform.
#FTM, Fantom: The native utility token of the Fantom blockchain ecosystem.