Following the strict attitude of the central government towards crypto, Indians have to pay 30 percent tax on all crypto earnings and profits. There has been a decline in trading volumes after the introduction of the rule of deducting one percent TDS on every crypto transaction from the month of July. The average daily transaction volume on Indian exchanges – WazirX, CoinDCX, BitBNS and Zebpay – fell to $5.6 million (about Rs 44 crore at that time). Whereas till June this volume was $ 10 million (about Rs 80 crore).
Speaking to Gadgets 360, Shubham Saini says that if I convert this crypto transaction to Indian Rupee, I am not seeing any profit. But I believe in the future and with the aim of long term, high profits these crypto
I keep the assets in my wallet.
Interestingly, they accept payment in dollars as well. The pictures of his tea stall are gathering discussion on Twitter. Shubham Saini told that he is getting 3 to 4 crypto payments daily. Saini told Gadgets 360 that many exchanges are being used keeping in mind the needs of the customers. BCA dropout Saini started crypto trading around the year 2020. His investment portfolio had grown by 1000 per cent to 30 lakhs. However, after the market crash, his portfolio also crashed and came down to Rs 1 lakh. After this he decided to open ‘Tea Stall’ named ‘Frustrated Dropout’ in Bangalore. Free tea is offered to the personnel of Defense Forces of India in this stall. By the way, a cup of tea in his stall costs 20 rupees.
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