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Is crypto currency safe in india

Indians can now worry less and invest in crypto. Anyways withought try will never know.
 
What you think about crypto currency

In India what I have understood from my clients
1. U have to pay 30% tax
2. U cant trade, without your identity verification
3. U can't use crypto anywhere.. Like apps you have gpay, paytm, etc

So even if U plan to invest.. It won't of any use apart from international payments for goods were those are accepted, but technically wired transferred or forex transfers would be way to cheaper.

And I have heard that their are lot of scams happening in india, I mean currency fraud. So I won't suggest you to be a part of it.

Secondly, the prices are way to high right now, not right time to invest.

And the main thing, it's not monitored just in case owner of the currency says that hua server was hacked.. You loose all the money and their are a lot of cases like that happening globally.
 
What you think about crypto currency
What do you exactly mean by "is it safe?"
Like is the crypto thing safe? Yes.
or is India as a place safe to hold crypto? Debatable, but as not a lot of people know about it, it is safe to hold.

One wrong thing people get is that Crypto isn't legalized in India yet. I have no solid sources that says by Law that crypto is "illegal" in India, but that doesn't make it legal until it get's written. Though, since Indian government is taxing 30% on profits on capitals per annum of crypto assets per individual, it is likely that India is cool about it.

But yeah, since Crypto is hot-topic overall, it's more likely that some mischief people will find there way to use it as a way to scam. There are already lots of crypto-related issues like Do Kwon, or FTX, or Celsius(All of these were TRUSTED), so be careful.

Some day even big crypto-exchange such as Binance may fail and we will do the surprised pikachu face, while it won't be as surprising at all if it does happen. SO BEST practice is to make sure your crypto investments are in a physical-cold-wallet of your, with you, and also make sure its seed-phrase is safe somewhere with you to be 100% safe. If it's in a exchange then let it be there if it's in small value. If it's in high value (thousands of dollars worth), than you better at least move it in hot-wallet like Metamask or any other.
 
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