Indian Youth And Cryptocurrency Space
Hi, there this is lucky ali and today we are going to talk about the crypto future in India. day by day crypto is getting more popular even though the government is not positive about crypto but the good thing is crypto is spreading. When I talk about Indian youth then we can see the youth is taking an interest in many cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and more. But the main thing here is knowledge because crypto is not just invested and getting a return proper study is required and for that, if the government supports the initiative then it can spread awareness among the youth.
If Indian youth want to enter crypto then they have to follow multiple things like reporting profit and loss. Not only this but whether you are investing in NFT or any crypto project you have to give 30% flat tax. Another rule is you don't have any benefit over expenses and also no loss setoff. So you can see this is the harsh rule.
During the cryptocurrency payment, you have to pay 1% TDS and this is required. So if you want to trade on exchange then it is next to impossible for you. But if you can hold your cryptocurrency for the long term then it is worth it for you. There are many people taking an interest in the airdrop field and this is taxable too.
The Indian government is not positive about crypto and if you check the previous statements then she was continuously pushing to stop the cryptocurrency and she wants the support of all G20 country members. There was a 2021 bill which presented in Lok Sabha in India but it is still pending and it can take time to approve. if this bill is approved then cryptocurrency will be banned. So clearly they want to ruin the future of cryptocurrency in India.
I want to show these challenges to the youth so that they can think more about it. Based on my research long-term holding in crypto is the best for Indian crypto users and this is what I am following too. Just hold your crypto in a ledger wallet for the long term and enjoy the benefits. Hive can be the best option too because the hive is a decentralized ecosystem and doing very well in the last few years and this is why I believe that hive has a great future.
So That's it and This is not financial advice so please be careful and always do your research. Thanks for being here and It will be great if you share this post on social media.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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