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Cryptocurrency News Articles
India Is Becoming a Global Crypto Powerhouse with Over 100 Million Active Users Expected in 2025
May 21, 2025 at 04:20 pm
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.
India is quickly becoming a global crypto powerhouse, with over 100 million active users expected in 2025. If you’re in India and feeling confident to start your own crypto journey, here is a step-by-step guide to get you started.
What you need to know about crypto in India
Crypto is treated as a Virtual Digital Asset (VDA) in India, and any profit is taxed at 30% plus a 4% health cess. There is also a 1% TDS on crypto sales greater than ₹50,000 (or ₹10,000 for small investors).
The 30% tax is applied only when you sell or swap crypto. For example, if you buy 1 BTC for ₹50,000 in 2023 and sell it for ₹100,000 in 2024, you will pay 30% tax on the ₹50,000 profit. However, if you keep the BTC and don’t sell or swap it, no tax will be applied.
Crypto is legal to own in India and users can buy, sell, trade, and hold crypto freely. It is also not recognised as legal tender and operates outside the traditional banking system. While the country lacks a clear regulatory framework, traders are still actively engaging with crypto and other assets like NFTs.
How to buy crypto in India
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 for it.
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. It is best to opt for exchanges that are registered with India’s Financial Intelligence Unit (FIU) to ensure compliance with anti-money laundering regulations.
Step 2 – Complete the KYC Process
To verify your identity, exchanges like Binance, CoinDCX, and Indi crypto exchange will require you to submit documents for identity verification.
You will need to verify your identity by submitting documents like your PAN card and Aadhaar card. Some exchanges may also require a utility bill to verify your address.
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
Once your account is verified, you can start by clicking on the Deposit INR button. If you don’t see that option, you can use a bank transfer or UPI for the deposit.
Step 4 – 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.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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