Bitcoin- An investment alternative for Indian Investors?
People making too many buying or salling or surfing the world currency news must be aware of BITCOINS-An alternative currency without any regulatory.
Bitocin became operational in 2009 and are traded in many virtual Exchanges. Bitcoin is actually an online currency, used for making payments in points to site owners for availing services. Not much news is heard of using it in offline transaction.
Though the currency has become highly populare but not used much. Bitcoins has to undergo the user reliability taste. It is very risky to use them, as no one regulates them. User mine the coins and use them. However the supply of bitcoins is not high as the generation of Bitcoin is controlled by an algoritham.
The historical Chart of Bitcoin prices VS Doller
Will Indian Investors invest in Bitcoins?
Bitcoin is still to taste the market pressure and economic imapct. It is bit difficult to invest in a currency that is loosly controlled and absense of legal security.
Who knows it may a bubble!!! But as far as western world is considered the currency have done well so far. Few big falls but not lost the charm.
Bitcoin can be a currency of online marketer. Continuous liquidity will insure a better future.
Does anyone have idea what RBI say for this currency and have framed any rules or issued any notification?
Bitcoins are actively traded in US, China and Japan which have setup Bitcoin Exchanges. In India, its still in a nascent stage. Complex mathematical problems have to be solved to mine one bitcoin. In Mumbai, this currency is already in active trading stage among few techies.
Stock Guru, we would like to know if in the future, can there be any income tax implications on capital gains arising from holding/transferring such financial units of money.
For More information on how to sell/buy bitcoins, visit
~CA Vedanta Deshika