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Since last few years BITCOIN And CryptoCurrency Trading is making a lot of noise. Investors especially in the western countries have shown a lot of Interest in BITCOIN And CryptoCurrency Trading.
What is BITCOIN?
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.
Why Bitcoins?
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
Acquiring Bitcoins
Buy on an Exchange: Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange.
Source: http://money.cnn.com/infographic/technology/what-is-bitcoin/
Can You Trade BITCOIN in India?
Yes you can. There are brokers who allow you to trade BITCOIN and CryptoCurrency in India but its not recommended to trade.
I will tell you why.
Reason 1 not to trade BITCOIN:
Look at BITCOIN price in Rupees as on 15-Nov-2017 time 12.25 pm India Time:
BITCOIN to INR
In other words 1 BITCOIN equals Rs. 4 lakh, 49 thousand, 334.96 as of on 15-Nov-2017 time 12.25 pm India Time. Will you risk that much money to buy just 1 BITCOIN? At least I will NEVER.
BITCOIN price in USD as on 15-Nov-2017 time 12.25 pm India Time:
BITCOIN to USD
Reason 2 not to trade BITCOIN:
As of today this is what I see in most BITCOIN trading websites:
₹ 4,86,800.00 BUY
₹ 4,84,000.00 SELL
If you buy and decide to sell straight away you are set to lose ₹ 2800 + brokerage (though brokerage is low and there is no tax as BITCOIN is not controlled by governments).
Reason 3 not to trade BITCOIN:
Most people do not understand BITCOIN, so it is better not to invest in a business that you do not understand. Moreover governments all over the world are against it. Read this:
Big Governments Will Crush Bitcoin, But Won’t Kill It
Big Governments Are Crushing Cryptocurrencies
So you don’t know what LAW will KILL BITCOIN & CryptoCurrency Trading. The day governments kills it all your investments become ZERO on BITCOIN or CryptoCurrency.
Reason 4 not to trade BITCOIN:
Another point : Let us say someone invested $7000 in BITCOIN and made $14000 in 3 months.
In percentage terms that is 100% return in 3 months but in real world that’s just $7000 made with too much risk. BITCOIN can go up and down 10% in one day. 🙁 Read this:
Bitcoin makes dramatic comeback after CRASHING over weekend
Bitcoin Crashes and Then Surges
I will never invest in anything that can crash as much as 29% in a day at such a high price.
BITCOIN or any other speculative product is great only if I invest 15k and make at least quarter/half a million in 10-15 years – something that can change my life. This only good stocks can do LEGALLY – BITCOIN & CryptoCurrency Trading cannot. BITCOIN is rising because people are investing in this shining object like 10k to 15k – this bubble will burst once Govt takes action or people know the reality what I told you – 7k becoming 14k that’s all – and people lose interest because this will NOT happen always – there is a risk of huge decline.
Greed is the biggest killer of money – BITCOIN And CryptoCurrency Trading is one of them.
When you have better options to make monthly income peacefully why should you invest in such a risky trade?
What you should do now
1. If you have still not subscribed for my free 5 days course you can do by filling the form above. You will learn a lot about option trading.2. If you are a new option trader, not much experienced and are making losses you can do my paid course. I recommend Nifty Conservative Option Course for beginners because it is easy to understand and easy to trade. Even a 18 year old young trader or a housewife can learn it and start trading from next day. It will help you to earn consistent monthly income without any software or speculation or stress or big risk. You will learn proper hedging strategies that works in any market condition.
3. If you are banknifty weekly options trader you can do my Bank Nifty Weekly Options & Futures Strategy Course. You will learn future and option hedging strategies that works in volatile market condition.
Testimonials
What Traders Say About My CourseCourse fees: Click here to know the course fees.
Here is complete process of my course
1. Once you pay I will send you the course materials for studying to your email.2. You read and ask me questions via phone/whatsapp/email to clear doubts.
3. Then you start paper trading and still can ask me questions.
4. After about one month you can start trading.
5. Since doubts can come anytime the support will be there for one year.
Within one month you can start trading on your own. No need to depend on anyone once you are on your own.
If you have any question you can contact me.
You can read about me here and my trading mistakes here.
Dilip Shaw, Founder
INCOME DISCLAIMER: Any references in this site of income made by the traders are given to me by them either through Email or WhatsApp as a Thank You message. However every trade depends on the trader and his level of risk taking capability, knowledge and experience. Moreover stock market investments and trading are subject to market risks. Therefore there is no guarantee that everyone will achieve the same or similar results. My aim is to make you a better & disciplined trader with the stock trading and investing education and strategies you get from this website. Please note that I DO NOT give tips or advisory services by SMS, Email, or WhatsApp or any other form of social media. I strictly adhere to laws of my country. I only offer education on finance, investments on stock markets in the best possible way as much as I can through this website. Still, you must consult an authorized advisor or do thorough research before investing in any stock or derivative before trading any strategy given in this website. I am not responsible for any investment decision you take after reading any article given in this website. Knowledge is the only way to get success in stock markets. I try my best to give stock market investing and trading knowledge through the articles posted in this website. Thanks for visiting my website.
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There is short term capital gains tax on Bitcoin sales in India.
Thanks Dilip for this bit of info.
regards,
Lancelot