Here’s a little recap of our Live Webinar on “Do’s and the Dont’s of Crypto Investing” on August 27th. The webinar was hosted by Nitin Agarwal, Founder of B21 Invest.
In the webinar session, Nitin discussed the current happening in the Crypto Space, the Do’s and the Dont’s in Crypto Investing and also showcased the Live Demo to explain the steps on how to deposit cryptos using the B21 app. During the live demo, Nitin also showed the exciting new feature on the B21 Mobile app — Crypto Deposits!
AMA Session :
Q — KN Suresh Babu: How the income tax is computed on Crypto Sales?
A — We consider cryptocurrency as an asset, so just like any other asset class like stocks/shares where you do capital gains, you can do the same with cryptos as well by declaring your capital gains.
Q — KN Suresh Babu: Is crypto legal in India?
A — Yes, the crypto was banned earlier but going 4 months back, had lifted the ban on cryptocurrencies. So there is no ban on crypto as of now and you can buy, hold and transact in crypto. The Supreme Court has considered it as a part of innovation and has said that the government should foster this! There are also conversations going around on the legality of crypto in the country which in turn will clear things more for the traders.
Q — KN Suresh Babu — What happens when the government bans the cryptocurrency? What is the fate of our crypto coins?
A — There is no definitive answer to this question. The government will not be suddenly banning the cryptocurrencies, there will be some time given to the people before banning it. Even if the government imposes a ban, you can still sell your coins and withdraw your money.
Q — Sachin Choudhari: How small can an investment in Crypto be?
A — When I say small, it means small to each self. We at B21 enable people to begin their investing in crypto with a small amount of $25, which is roughly close to Rs. 2000. You can start small, learn about it, gain some confidence, and invest regularly thinking for the long term.
Q — Chitaranjen Nayackh: What is the minimum time period you suggest while investing for the long term?
A — I suggest to invest at least for 6 months but I personally think 2 years is a very good horizon to think about.
Q — Anant Kumar: How are you better than the competitors?
A — There are many competitors who provide a way to trade which we do not provide. We provide a way to invest in a portfolio, we provide a way to invest using easy and simple local payment methods, we provide a mobile experience using which you can invest quickly!
Q — Is Cryptocurrency safer than the Stock Markets?
A — There are risks in all kinds of investment, including cryptos, stock markets, or gold or property markets. So there is no definitive answer to which one is safer.
Q — What are the charges while investing in crypto using the B21 mobile app?
A — The charges are very well written on the website. The charges usually depend upon the type of payment method you are using.
Q — Shreyas: What’s in B21 for a professional trader?
A — The B21 app is not for trading, so for traders, there are many platforms available to help them in trading. The B21 app welcomes the investors in the crypto space and we are happy to take inputs and things which you feel that the B21 can do for your(crypto trading) community.
Q — Jayant Jadhav: How do bitcoin or b21 token gain value?
A — Anything gains value if we buy and sell them. Anything that has more demand and lesser supply, it gets value!
Q — Chitaranjen Nayackh: What is so special about B21?
A — When my father wanted to invest and asked me how can he invest in crypto, I had no answer to that because the exchanges have a very complicated interface. They wanted to start investing with a small amount, see how the industry grows and make money from the growth of the industry. That’s where we thought there is no easier way in the market for investing in cryptocurrency. With our platform, we made investing in 5 crypto coins using $25 look very easy.
We promised a Live Demo to our community in our last webinar and delivered it this time. We look forward to conducting more such webinars and will keep updating about it on all our Social Channels, so don’t forget to follow us.
Stay Safe. Invest Regularly.
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