Best platforms to invest into cryptocurrency

[shushansh]

Has anyone done any research into the best platforms to invest into cryptocurrency, post the restrictions that have been put by the Indian govenment?

Just for an example,
If you invest through CoinDCX, a 1% TDS + 30% TDS on any profits is deducted, and this when done on a margin trading basis is just a huge amount (say you're trading on 10x leverage, 10% of your capital is deducted as TDS)
But the same done through an international platform (after opening an US bank account), you would only lose the TDS on foreign remittance once, and then you can just trade normally without worrying about TDS.

If anyone has any insights into this, would be grateful to read and know about other ways possible.

 

[Wealth is my birth right!]

Has anyone done any research into the best platforms to invest into cryptocurrency, post the restrictions that have been put by the Indian govenment?

Just for an example,
If you invest through CoinDCX, a 1% TDS + 30% TDS on any profits is deducted, and this when done on a margin trading basis is just a huge amount (say you're trading on 10x leverage, 10% of your capital is deducted as TDS)
But the same done through an international platform (after opening an US bank account), you would only lose the TDS on foreign remittance once, and then you can just trade normally without worrying about TDS.

If anyone has any insights into this, would be grateful to read and know about other ways possible.

Following for updates
TIA

 

[caabhi]

Has anyone done any research into the best platforms to invest into cryptocurrency, post the restrictions that have been put by the Indian govenment?

Just for an example,
If you invest through CoinDCX, a 1% TDS + 30% TDS on any profits is deducted, and this when done on a margin trading basis is just a huge amount (say you're trading on 10x leverage, 10% of your capital is deducted as TDS)
But the same done through an international platform (after opening an US bank account), you would only lose the TDS on foreign remittance once, and then you can just trade normally without worrying about TDS.

If anyone has any insights into this, would be grateful to read and know about other ways possible.

The restrictions are put on for some purpose, one of the main reason is this segment was unregulated. Further the retail investor should be worried with the volatility this asset class brings. Can very well wipe out your entire capital.
Be cautious and beware! There is no free money!!

 

[saucy]

The restrictions are put on for some purpose, one of the main reason is this segment was unregulated. Further the retail investor should be worried with the volatility this asset class brings. Can very well wipe out your entire capital.
Be cautious and beware! There is no free money!!

Funny thing about that is -- so can options and futures. But nobody bans or taxes them

 

[saucy]

Has anyone done any research into the best platforms to invest into cryptocurrency, post the restrictions that have been put by the Indian govenment?

Just for an example,
If you invest through CoinDCX, a 1% TDS + 30% TDS on any profits is deducted, and this when done on a margin trading basis is just a huge amount (say you're trading on 10x leverage, 10% of your capital is deducted as TDS)
But the same done through an international platform (after opening an US bank account), you would only lose the TDS on foreign remittance once, and then you can just trade normally without worrying about TDS.

If anyone has any insights into this, would be grateful to read and know about other ways possible.

Do you mean sending money into a US Bank account and trading from there (and keeping money there?)

 

[caabhi]

Funny thing about that is -- so can options and futures. But nobody bans or taxes them

Options and futures are regulated!! Crypto is not.

Options and futures have underlying asset, Crypto does not have any

 

[shushansh]

Do you mean sending money into a US Bank account and trading from there (and keeping money there?)

Yes, and as long as you opt in to file the taxes on your crypto profits (or losses 🤐) in the US, you are doing nothing wrong from a legal perspective.

 

[shushansh]

The restrictions are put on for some purpose, one of the main reason is this segment was unregulated. Further the retail investor should be worried with the volatility this asset class brings. Can very well wipe out your entire capital.
Be cautious and beware! There is no free money!!

I am not really concerned about "why" of the restrictions, I just want to know if there are any ways that people might've figured out to ease through these restrictions.

The "why" of the restrictions has too many factors, much beyond what you've mentioned, but that's not what I would want to discuss right now.

And definitely, as it applies for all asset classes, always understand your risk-reward equation prior to investing.

 

[caabhi]

I am not really concerned about "why" of the restrictions, I just want to know if there are any ways that people might've figured out to ease through these restrictions.

The "why" of the restrictions has too many factors, much beyond what you've mentioned, but that's not what I would want to discuss right now.

And definitely, as it applies for all asset classes, always understand your risk-reward equation prior to investing.

Best wishes.
Why part is for other fellow members.
Nonetheless, cant offer any help for your specific matter!

 

[0xfallup]

Has anyone done any research into the best platforms to invest into cryptocurrency, post the restrictions that have been put by the Indian govenment?

Just for an example,
If you invest through CoinDCX, a 1% TDS + 30% TDS on any profits is deducted, and this when done on a margin trading basis is just a huge amount (say you're trading on 10x leverage, 10% of your capital is deducted as TDS)
But the same done through an international platform (after opening an US bank account), you would only lose the TDS on foreign remittance once, and then you can just trade normally without worrying about TDS.

If anyone has any insights into this, would be grateful to read and know about other ways possible.

use BINANCE!

 

[Chaitanya-a]

Options and futures are regulated!! Crypto is not.

Options and futures have underlying asset, Crypto does not have any

Same view. Crypto can be traded not invested coz there is no underlying asset. Seeing it as an investment tool is waste of time & money.

 

[0xfallup]

Same view. Crypto can be traded not invested coz there is no underlying asset. Seeing it as an investment tool is waste of time & money.

bitcoin itself is considered an asset as major banks are collapsing in America, the liquidity is being flowed into gold and bitcoin , many freelancers and people who do international transaction are preferring bitcoin over USD and getting it easily converted it to inr

 

[0xfallup]

Has anyone done any research into the best platforms to invest into cryptocurrency, post the restrictions that have been put by the Indian govenment?

Just for an example,
If you invest through CoinDCX, a 1% TDS + 30% TDS on any profits is deducted, and this when done on a margin trading basis is just a huge amount (say you're trading on 10x leverage, 10% of your capital is deducted as TDS)
But the same done through an international platform (after opening an US bank account), you would only lose the TDS on foreign remittance once, and then you can just trade normally without worrying about TDS.

If anyone has any insights into this, would be grateful to read and know about other ways possible.

use binance as RBI wont be able to interfere because no payment gateway is related to binance...just load some USDT through p2p and do it there ...and crypto is too much volatile , will be preferred to observe the market first throughly and then do it

 

[Chaitanya-a]

bitcoin itself is considered an asset as major banks are collapsing in America, the liquidity is being flowed into gold and bitcoin , many freelancers and people who do international transaction are preferring bitcoin over USD and getting it easily converted it to inr

Wahi keh rha hu. Trading k liye its good. Itni heavy volatility wali chiz me investment ni kia jata

 

[0xfallup]

Wahi keh rha hu. Trading k liye its good. Itni heavy volatility wali chiz me investment ni kia jata

View attachment 16953

hamesha joh bhi new market rehta h volatility hoti hai...because less people with more liquidity can make sharp moments , as it gradually gets decreased because the liquidity spreads day by day as market mature ...wahi observe karo phle needed

 

[Chaitanya-a]

hamesha joh bhi new market rehta h volatility hoti hai...because less people with more liquidity can make sharp moments , as it gradually gets decreased because the liquidity spreads day by day as market mature ...wahi observe karo phle needed

Future will tell. Jo market 10 saal me stable ni hua or koi ek bnde ki influence me aake pura gir jata h wo shayad hi stable ho kbi.

 

[4uziaul]

We need more regulations, until then more pump and dump manipulations will be done by the whales.

 

[shushansh]

if you guys are arguing about the volatility in crypto, I would very gladly refer you to look at most tech stocks in the past 2 decades, there are major firms (the biggest ones across) that have had YoY return anywhere from +1000% to -98%

is crypto volatile, yes. but to say that other instruments are not equally volatile would be unfair. and yes, since it is in it's early stages, such moves are expected as quoted by @0xfallup

 

[kishorvr]

I have some money in the market. I did not take out even after the market fell, or made to fall. I hope the market will soon see acceptance.

 

[AritraSaha]

Don't think so,
Hype has gone down.