Monday, 5 June 2017

Bitcoin Market in India

Bitcoin has been the most talked topic of 2017. The young professionals and college youth are getting more attracted towards the digital currency. Since the decentralization exercise been started in India.

Several rumors have been circulating regarding the bitcoin to get the ban in India and other. But Indian government decision is still pending on the cryptocurrency. There is no such statement has been passed from the committee examining the bitcoin, that was formed by the Indian government.

The continuous growth of bitcoin giving a huge profit to people as people are looking bitcoin as a great investment vehicle and for trade, they are searching for best bitcoin exchange in India. The higher rate of buy bitcoin is been noticed with the increasing demand for Bitcoin to buy and sell bitcoin in India.

The government has not passed any statement related to the legality or ban the cryptocurrency in India. That's mean trading and investing in bitcoin is yet not illegal in India. But the government has warned the citizen to invest in digital currency at your own risk, nobody will be liable for any kind of loss you face.

The only part government has given their input is a tax. The bitcoin users whether buy bitcoin, sell, invest or trade they are not liable to pay tax. Until you gain a profit from the bitcoin while trading or selling. The tax is also liable to the person why is purchasing any commodity using bitcoin or any barter with any bitcoin exchange in India or foreign exchanges.

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