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Thinking about the impact of the tax cut on crypto profitability? Or are you still wondering which crypto you should start with? Crypto has become very popular amongst individuals. You might know a lot of people who are earning profits on investments in the same and on the other hand people who lost money in it every time they tried investing in the digital asset. The new tax deduction law has created further curiosity among fence-sitters. We at Marwadi Financial Services understand this dilemma, and though you cannot invest in crypto with us, we want to ensure that you are well informed on crypto.
For any and every curiosity you have for crypto and to understand how different cryptos get impacted through global movement and in India. You will get access to blogs, in-depth research reports, and much more, which will help you understand crypto.
Crypto is a form of digital currency that allows people to transmit value in a digital environment. It is derived from the words 'cryptography' and 'currency', since it uses cryptography to secure transactions happening on the network.
The value of a crypto can be linked to an underlying asset such as the US dollar, Central Bank Digital Currencies (CBDCs), governance tokens (owners have a say in how the blockchain develops), utility tokens, and non-fungible tokens. This is coming from a developer's perspective. Investors and speculators, on the other hand, hope to benefit from the price fluctuations and the future potential value of crypto.
Crypto transactions are recorded on a blockchain which acts like a distributed public digital ledger. This is a decentralised system that records every transaction and is distributed across several computers.
No. The technology that permits crypto to function is known as blockchain. It's a decentralised, digital transaction ledger for crypto. It's critical to distinguish between the technology that underpins crypto and crypto themselves.
As per the most recent announcement by the Finance Minister in the Union Budget 2022, the legality aspect is still in a grey area. The profits arising out of crypto transactions would be taxed at flat 30%.