Cryptocurrencies' craze could not break even 30 percent tax, Cryptocurrency is the first choice of investment for 45 percent of people

Cryptocurrencies’ craze could not break even 30 percent tax, Cryptocurrency is the first choice of investment for 45 percent of people

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new Delhi. Even the imposition of 30 percent tax on cryptocurrency by the central government has not dampened the enthusiasm of the people regarding investment in digital currency. Even now 45% of investors prefer investing in cryptocurrencies. According to the survey of investment platform Grow, the first priority for investment of Indian investors is Mutual Fund. According to this, 82 percent of investors want to invest in mutual funds.

The purpose of Grow’s survey was to know the behavior of Indian investors. Investors from 357 centers in small towns and rural areas were included in the survey. 56.6 per cent of the investors surveyed were residents of Tier-4 cities like Balasore, Medinipur, Anglu, Ballia, Deoria, Sikar, Nadia, Singhbhum and Yadgir.

Also read: Cryptocurrency prices today: Big drop in crypto market, Shiba, Dogecoin, Solana fell more than 10 percent

no tax effect

Finance Minister Nirmala Sitharaman in the Budget 2022 had announced the imposition of 30 percent tax on profits from cryptocurrencies and 1 percent TDS on its transactions. It has been provided that the loss incurred on cryptocurrency investment also cannot be carried forward. This has not had any bad effect on investment in crypto. Grow’s survey has shown that 45 percent of people are still giving priority to cryptocurrency.

SIP the right way

There are many fluctuations in cryptocurrencies. Therefore investing in it is very risky. Experts ask investors to adopt the method of Systematic Investment Plan (SIP In Cryptocurrency) for investing in crypto. SIP protects investors from huge losses when there is a sudden big drop in the value of crypto coins.

Rishabh Parekh, founder and chartered accountant of NRP Capital, says that only that much money should be invested in crypto, which you do not have much fear of losing. Indiscriminate investment in this is not good.

will invest in shares

According to the survey, from the beginning of this year, retail investors will continue to invest in stocks despite the volatility in the stock market. About 42 percent of the people surveyed have the hope of a good performance of the stocks. 96 percent of the people said that they would invest in stocks this year. 54 percent of the people are satisfied with the investment and return they got from their investments in 2021.

Investment in financial assets will increase

Investors in small towns and rural areas are satisfied with the return on their investments in the year 2021. They are ready to invest their savings in financial assets this year. 43 percent of the investors surveyed said that they want to invest 10-15 percent of their income in financial assets. Harsh Jain, co-founder and COO of Grow, says that there is a boom in retail investment. It is getting air from small towns. The government’s emphasis on tech investing platforms, strong regulators and digitization has made it easier for lakhs of investors to invest.

Also read: If you want to invest in foreign stock markets, then know these tax rules, this information is of great use

Mutual Funds Preferred Way of Investing

Indian investors are obsessed with Mutual Funds. Mutual funds have grown in popularity in the last few years. Now even further investors intend to increase investment in mutual funds. 82 percent of the investors surveyed said that they want to invest through mutual funds. In the year 2021, 66.8 percent people wanted to invest in mutual funds.

IPO is 60% investors’ choice

Investors want to diversify their investments in 2022. They want to invest in cryptocurrencies, from IPOs to stocks listed on American stock exchanges. 60 percent of the people surveyed said that they want to invest money in IPO. At the same time, 56 percent people talked about investing in information technology stocks.

Tags: Cryptocurrency, Investment and return, IPO, stock market

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