New way to Invest in Crypto in India

[raaman]

New way to invest in crypto in India.

Despite the high restrictions on crypto investments in India, the rich people in India have found a way to take money abroad and invest in crypto, while the UPI payment issue on the crypto exchange platform is as layered as the federal government's crypto bill.

Investors with an interest in technology and family members are investing in the LRS system through 'overseas direct investment' (ODI) to invest in cryptocurrency. The LRS is a facility for liberalized remittance. it is an RBI-India, operated foreign investment service.

The super-rich in India choose companies that provide money transfer services to their own investment firm overseas through NBFCs in India and thereby send money abroad. In general, it is possible to send money abroad using the LRS system, but not to invest directly in any financial plan. Therefore, most people were looking for an alternative to cryptocurrency.

 

[Yugocean]

Everyone will go for alternative if they are forced against development. However super rich investing another way is not an alternative, what common people will do is. I myself never directly invested, only faucet type or crypto payment of online earning is my source, so I wasn't even trying to find a way; but then when it needs to cashout to INR, I can sell for PayPal or any other via P2P. Money is going for the benefit of handicaps (viklangjan, not divyangjan). I don't feel heavy tax like gambling on new technology.
Election is gambling, they should tax the winners, but they won't tax themselves, because we all know why.

 

[jamesright]

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