π― Chapter 1: Why Crypto? The Frustration of Indian Stock Market Traders
Hello everyone, welcome to this article! In this detailed guide, we are going to talk about how to start crypto trading.
If you are already trading in the Indian stock market, I know you must be frustrated. If you look at the market today, itβs mostly sideways. But many people who understand Price Action and Charts know how to read the market. The problem is they donβt know where to start in crypto. They donβt know which broker to use, which coin to analyze, or where to find reliable data.
So, grab a pen and paper. I will teach you the basics: where crypto starts, where you can do analysis, which websites you should use, and which broker is essential. I will also explain how you can legally earn money from crypto and manage taxation.
π° Chapter 2: The Taxation Hurdle in India (30% Tax is the Killer)
First, understand how much tax you have to pay the government if you trade crypto while residing in India. It’s simple, yet very harsh:
- If you buy or sell crypto and make a profit, you have to pay the government 30% tax on that profit.
- Plus, you have to pay 1% TDS (Tax Deducted at Source).
- This means if you make a profit of βΉ1 Lakh, you straight away have to pay βΉ31,000 to the government.
- If you incur losses, they are carried forward to be offset against future profits, but you still have to pay tax when you are in profit.
The Loophole: Trading Futures and Options
There is a loophole in India. If you trade Futures and Options (F&O) on Bitcoin, Ethereum, or any other crypto coin, you don’t have to pay that much tax to the government; you can save a significant amount.
However, not all brokers allow this in India. Globally, platforms like Binance, Exness, or XM do not permit Futures and Options trading in INR for Indian users.
π₯ Chapter 3: Choosing the Right Broker β The Taxation Advantage
Choosing a proper broker is the most crucial part. If you pay too much tax, what will be left in your hand?
The key reason most successful Indian crypto traders and influencers use a specific platform is the tax benefit. Delta Exchange India is the only company in India that allows you to trade Futures and Options in crypto, which provides a huge taxation benefit. If you trade on global platforms like Binance, the cumulative tax can go up to 35%.
I personally use Delta Exchange India, which is an Indian, government-verified company, and you trade in INR, removing the hassle of USDT or USD conversion.
3.1. How to Use Delta Exchange India (Deposits & Features)
When you open Delta Exchange India, you will see a simple user interface where all currencies like Bitcoin, Ethereum, and Solana are listed.
- Futures & Options (F&O): This is the best feature for those with small capital (βΉ5,000 to βΉ15,000) as it offers up to 200x leverage. This means you can trade 200 times the capital you bring.
- Trading Process: Simply click on Bitcoin, analyze the chart (which is very accurate and simple), and use the Buy Long / Sell Short option. You can easily set the quantity or select a percentage of your capital (10%, 25%) and execute the trade.
3.2. Easy Deposit and Withdrawal (The Biggest Relief)
The biggest problem on platforms like Binance is the risk of account freezing or warnings during withdrawals and deposits. This problem is solved here:
- Deposit: Click ‘Add Fund,’ enter the amount (e.g., βΉ50,000), and use the generated QR code to pay via UPI (Google Pay, PhonePe). The funds reflect in your account within minutes.
- Withdrawal: Withdrawals are just as fast, reflecting in your bank account in less than 2 minutes.
Action Step: If you are interested in opening an account with Delta Exchange India, you can find the link in the description of this article. Also, join my [External Link: My Community Platform/Telegram Link] where I explain how and what to trade in Bitcoin and Ethereum.
π Chapter 4: Where to Analyze Crypto Currencies (The Essential Websites)
Now that the broker is sorted, the next question is: How do I know which cryptocurrency to invest in or trade?
You need to analyze thousands of cryptocurrencies, their returns, their underlying projects, and their market performance. For this, you need a reliable platform:
4.1. CoinMarketCap: Your Data Hub
You need to go to Google and search for CoinMarketCap. This is a platform where you can find every detail of every listed and traded cryptocurrency in the world.
- Details: It shows you top gainers, top losers, token coins, and even meme coins. If you click on any cryptocurrency, you get a full analysis, whether it’s currently bullish or bearish, and on which platforms you can invest in it.
- Analysis: Use this website to [Internal Link: Detailed Guide on Crypto Projects] read about the projects built on top of the cryptocurrency.
4.2. TradingView: For Chart Analysis
If you have trouble with chart analysis, don’t worry. Go to TradingView. On this platform, you will find detailed charts for Bitcoin, Ethereum, and all other cryptocurrencies, allowing you to perform technical analysis.
π― Conclusion: Your Trading Toolkit
To summarize your journey into Indian Crypto Trading:
- Use Delta Exchange India for trading, especially the Futures & Options segment, to benefit from taxation advantages.
- Use CoinMarketCap for fundamental and project analysis.
- Use TradingView for chart analysis and technical reading.