How To Buy Cryptocurrencies in India

The post How To Buy Cryptocurrencies in India appeared first on Coinpedia Fintech News India is becoming a global crypto powerhouse with over 100 million active users expected in 2025. If you are confident to start your crypto journey in India, here is a step-by-step guide. Buying crypto via a centralised crypto exchange– Step 1 – Choose an exchange and create an account You can start by signing up for any of the centralised exchanges that support INR. Remember, different exchanges offer different coins, so check if your chosen platform supports your preferred crypto before signing up. There are many choices available, like CoinDCX, CoinSwitch, Mudrex, Binance, WazirX, etc. You will need to submit personal details like Name, Date of Birth, contact details, and a valid email address. Opt for exchanges registered with India’s Financial Intelligence Unit (FIU) to ensure compliance with anti-money laundering regulations. Step 2 – Complete the KYC Process As part of the KYC requirements, the exchange will also need your PAN and Aadhaar details. You may also need to submit photographs of both cards. Step 3 – Deposit Funds Next, you need to deposit Indian rupees (INR) into the exchange with the Deposit INR button. If you don’t see that option, you can use a bank transfer or UPI for the deposit. Step – Choosing the Crypto Finally, choose which cryptocurrency you wish to buy. Depending on the exchange, navigate to the buy or trade section, select the cryptocurrency that you want to buy, and confirm your purchase. Your crypto will then be added to your exchange wallet. Crypto Regulations in India Crypto in India is treated as a Virtual Digital Asset (VDA), and profits are taxed at 30% plus a 4% health cess. A 1% TDS is also applicable on crypto sales above ₹50,000 (or ₹10,000 for small investors). You pay 30% tax only when you sell or swap crypto. Holding crypto without making a transaction doesn’t trigger any tax. Owning crypto is legal in India as users can buy, sell, trade, and hold crypto freely. However, crypto is not recognised as legal tender and operates outside the traditional banking system. India lacks a clear regulatory framework, but traders still actively engage with crypto and other assets like NFTs.

Source: coinpedia