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Cryptic World of Cryptos Tread with caution Trade with care
Cryptocurrencies are no longer illegal in India but they’re still out of the regulatory ambit. Extreme volatility and lack of government support make it a tightrope walk for investors
Four things to know before you invest in cryptocurrencies
WazirX is India’s fastest growing cryptocurrency exchange and is a part of Binance ecosystem, a Cayman Islands-based exchange with 6.5 million users. The exchange also witnessed tightening of noose by law enforcement agencies. Nischal Shetty, CEO and Founder of WazirX, talks to Outlook Money about India’s crypto-ecosystem. Excerpts from the interview:
Bitcoin is facing the red eye from the green brigade for it consumes 0.4 per cent of all energy in the world, which is higher than the consumption by a lot of countries individually
Why would you spend money on something that fluctuates every day, lacks a sovereign guarantee and has no central bank support?
As cryptocurrencies see soaring demand, there is increasing concern over data security. It is blockchain that secures the data and makes crypto trades safer
Buying or selling cryptos would not make you legally immune from taxes; merely holding them would, however, cost you nothing
The borderless currency calls for a comprehensive legislative framework to fill up the regulatory vacuum surrounding crypto trade
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Cryptocurrencies are no longer illegal in India but they’re still out of the regulatory ambit. Extreme volatility and lack of government support make it a tightrope walk for investors
Four things to know before you invest in cryptocurrencies
WazirX is India’s fastest growing cryptocurrency exchange and is a part of Binance ecosystem, a Cayman Islands-based exchange with 6.5 million users. The exchange also witnessed tightening of noose by law enforcement agencies. Nischal Shetty, CEO and Founder of WazirX, talks to Outlook Money about India’s crypto-ecosystem. Excerpts from the interview:
Bitcoin is facing the red eye from the green brigade for it consumes 0.4 per cent of all energy in the world, which is higher than the consumption by a lot of countries individually
Why would you spend money on something that fluctuates every day, lacks a sovereign guarantee and has no central bank support?
As cryptocurrencies see soaring demand, there is increasing concern over data security. It is blockchain that secures the data and makes crypto trades safer
Buying or selling cryptos would not make you legally immune from taxes; merely holding them would, however, cost you nothing
The borderless currency calls for a comprehensive legislative framework to fill up the regulatory vacuum surrounding crypto trade
OTHER STORIES
Decrypting Cryptocurrency
The story of Unocoin, India’s first exchange for trading in cryptocurrency, and the way forward for the virtual currency
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