Before buying your first cryptocurrency in India, make sure you know these things

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Number 1 Fast Price Currency Fluctuation

Cryptocurrency is not like Indian stocks which fluctuate only 2-4 percent up or down. Keep in mind that if you invest in crypto, you can lose up to 50% of your investment in a single day.

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Number 2 Future of Cryptocurrency

The future of cryptocurrency is certain, but no one can say for how long, so make sure you do your research before investing.

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Number 3 High Government Tax

Keep in mind that due to Finance Minister Nirmala Sitharaman's favor, crypto is treated like gambling in India. So if you earn 50 rupees, you will have to pay 30% tax on your earnings.

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Number 4 Ponzi Scheme

There are currently over 5000 cryptocurrencies, but only 50 or 100 of them may be useful to you, so make sure you thoroughly research the project before investing.

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