Is Bitcoin Legal in India?
YES. In a Supreme Court hearing on March 4th, the court announced that Bitcoin buying, selling, trading, or mining is not illegal by any law in India.
Bitcoin is a digital currency which operates without a central bank or a government. It is often referred to as the digital equivalent of gold given that its supply is finite. It has emerged as the most prominent cryptocurrency in the last decade.
Blockchain at its core is the operating system of all the decentralised cryptocurrencies out there. You can think of it as a list of transactions!! It has 3 core features which make it one of the most important powerful technological breakthrough till date.
Yes, Bitcoin is the most safe and secure cryptocurrency out there. Thanks to decentralised nature of blockchain, Bitcoin is not tied to a financial institution or government, it is available to you no matter where you are in the world.
The major difference between bitcoin and INR is that bitcoin is a decentralized currency while INR is controlled by Reserve Bank of India. Moreover, bitcoin exists only in the digital form while physical versions of INR exist.
Yes, you can start investing in bitcoin with Nuo as low as INR 1000. Bitcoin has emerged as an asset class in the past 10 years with a market valuation of $170 Billion. Just like any other asset class, it has seen hype cycles.
YES. In a Supreme Court hearing on March 4th, the court announced that Bitcoin buying, selling, trading, or mining is not illegal by any law in India. The Supreme Court has lifted the ban against cryptocurrencies in March, 2020.