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Is crypto trading legal in India?

Is crypto trading legal in India?
Written by Ramit

Cryptocurrencies are fast becoming popular all around the world. In India as well, there has been a lot of interest in cryptocurrency amongst investors. In the last few years, the financial market has seen massive interest in crypto trading, especially from users from small towns and cities in India.

However, despite the growing excitement and interest in cryptocurrency, there is still a lot of confusion and ambiguity around the key question related to crypto trading in India – is crypto trading legal in India? This is one of the biggest questions that need to be answered before you consider investing in cryptocurrencies. You want to ensure that you are not making any illegal investments that might not pay off at the end of the day. This is why it is imperative to understand the legal status of cryptocurrencies in India.

As we are about to enter the last quarter of 2021, it is difficult to explain the legal status of cryptocurrencies in India. The Indian government has still not clearly stated its stand on crypto trading.

In 2018, the Reserve Bank of India (RBI) took a strong stand and banned crypto trading in India. In 2020, however, the Supreme Court reversed this ban. Following this, many Indian banks began curtailing the transactions with crypto exchanges. But, the RBI again reiterated that banks could not do this as the ban on crypto trading was overruled by the Supreme Court of India.

Following this flip-flop, the present condition is that Bitcoin and other cryptocurrencies are not illegal in India but unregulated. Being unregulated, the government is still not entirely happy about crypto trading. Nevertheless, there are no regulatory changes as of now, so if you want to invest in cryptocurrencies, you can go right ahead and indulge in crypto trading. Cryptocurrency in India is a legalized investment as of 2021.

Crypto trading in India is as safe as any other investment option.  There are several best apps for cryptocurrencies in India today, and you can take investment advice from many of these top apps for cryptocurrencies. Make sure to verify the authenticity of the app before you invest money.

If you do not wish to go ahead with these best apps to buy cryptocurrency in India, or you want to learn more about cryptocurrencies first, Unluclass has the perfect solution for you.

Learn about Cryptocurrencies Online

Now that you know that crypto trading is legal in India, let us talk about ways to educate ourselves about cryptocurrency. If you are looking for an online cryptocurrency course, you must check out Unluclass’ upcoming online course that tells you all about cryptocurrencies.

With the help of this course, you will be able to learn things like cryptocurrencies in India, types of cryptocurrencies, and cryptocurrencies portfolio management. The course will also help you keep yourself updated about the changes that are happening in the cryptocurrency market, especially in terms of regulatory changes. Therefore, you will learn about Bitcoin price prediction, free bitcoin mining, Bitcoin ban in India, etc. Stay tuned!

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Ramit

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