Is Cryptocurrency Legal, Let's Know With Yuva Patrkaar
Yuva Patrkaar, New Delhi : Hello friends, Welcome to yuvapatrkaar blog. I hope you are absolutely fine. Today I will tell you that Is Cryptocurrency Legal in India, this is a very important question and if you are interested in Cryptocurrency
If you invest then you must know about it. Friends, even today many people are like this. Those who want to invest in it but considering it illegal i.e. Illegal, go away from it and do not invest. If you feel so too. If Cryptocurrency is not legal, then definitely read this article completely, because today I will tell you a lot about Crypto, which will increase your interest in it and you will also be able to print a good note by investing in it.
So friends, now let's know without delay. Is Kya Cryptocurrency Legal Hai But before that I want to tell you what is Cryptocurrency and how does it work? So that there is no doubt related to this in your mind.
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What is Cryptocurrency
This is also a currency like our currency ie rupee. What is not physically available can only be obtained digitally. In simple words, Cryptocurrency is a Digital Currency and there is not one but many digital currencies in the market.
Whose names are also different. And the price also varies. Such as Bitcoin, Shiba Inu, Ethereum, Dogecoin etc. This is a very popular cryptocurrency. You can invest in it just like the stock market and print a lot of notes.
But friends, a lot of risk is also found in Crypto Market. That's why whenever you invest in them, invest wisely. But you will be surprised to know that no one runs Crypto Currency. That is, no one owns it. This can be obtained through mining.
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Is Cryptocurrency Legal
So friends, now I will tell you whether Cryptocurrency is Legal. Cryptocurrency has been legalized in many countries. But it is still not legal in India. The government is considering to regulate it. At the same time, many countries have banned it completely. Mr. Gaurav Garg, Head of Research, Capital Via Global Research Limited, explains that the concept of cryptocurrency was brought by a person named Satoshi Nakatoshi to overcome the recession of 2008.
To overcome the recession, a good loan was also given by the companies, but its processing used to take about 10 percent of the amount, due to which only 90 percent of the amount could reach the person taking the loan.
Seeing all these flaws, Cryptocurrency was born. There are no processing fees in any form in cryptocurrency. Anyone can transact through it digitally from anywhere.
While this has been said by Kshitij Purohit of Capital Via itself. That cryptocurrency has neither been banned / banned in India nor has it been kept completely open. Currently, the Government of India is planning to introduce a new type of law for the trading of cryptocurrencies.
However, keeping in mind the fraud, the Reserve Bank of India had demanded a lot to ban it. But a lawsuit was filed in the court by cryptocurrency exchanges and in March 2020 they also won the case. The demand to make it illegal also arises because of this. Because in places like the dark web, people use it for illegal purposes.
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Cryptocurrency is illegal in these countries –
Friends, it was told above that Is Cryptocurrency Legal, but now I am going to tell you that Cryptocurrency is illegal in countries. So Cryptocurrency is legal in the following countries-
Algeria, Bolivia, Bangladesh, Minican Republic, Ghana, Nepal, Republic of Macedonia, Qatar, Vanuatu countries are mainly involved.
Frequently Asked Question
1. Is cryptocurrency legal in India?
No! It is not legal in India. But neither is Ilgil. So you can invest in it.
2. How much tax is to be paid on profit made by investing in cryptocurrency?
33%
Conclusion
So friends, in this post you have come to know that Kya Cryptocurrency is Legal, I hope that you would have liked this post a lot, and would have got to learn a lot from it. Friends, I have explained in detail about Crypto being legal or not.
I hope you have got complete information. But invest in it according to your own, if possible take advice from experts or any of your financial advisors. With this you can avoid a lot of loss.
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