Frequently Asked Questions

CoinTakeOn is an Indian cryptocurrency news and education platform. We publish articles, market analysis, beginner guides, regulatory updates, and exchange reviews — all tailored for Indian crypto investors and enthusiasts.

All content is written and reviewed by Krunal Kanojiya, the founder of CoinTakeOn. Every article goes through a research and fact-check process before publishing.

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Cryptocurrency is a form of digital or virtual currency secured by cryptography. Unlike traditional currencies issued by central banks, most cryptocurrencies operate on decentralised networks — typically blockchains — with no single controlling authority. Bitcoin (BTC) was the first and remains the most well-known cryptocurrency.

A blockchain is a distributed digital ledger that records transactions across a network of computers. Each new batch of transactions (a 'block') is linked to the previous one, forming a chain. This structure makes data extremely difficult to alter retroactively, providing transparency and security without a central authority.

DeFi (Decentralised Finance) refers to financial products and services built on blockchain networks — primarily Ethereum — that operate without traditional intermediaries like banks or brokers. DeFi includes services like lending, borrowing, trading, and earning interest, all governed by smart contracts.

An NFT (Non-Fungible Token) is a unique digital asset verified on a blockchain. Unlike Bitcoin or Ethereum (which are fungible — each unit is identical), every NFT has a distinct identity and ownership record. NFTs are used to represent ownership of digital art, music, collectibles, and virtual goods.

A crypto wallet is software (or hardware) that stores your private keys — the cryptographic credentials that prove ownership of your crypto. Your crypto itself lives on the blockchain; the wallet gives you access to it. Wallets come in 'hot' (internet-connected, more convenient) and 'cold' (offline, more secure) varieties.

Yes, cryptocurrency is legal in India. The Indian government has not banned crypto trading or ownership. However, it is heavily regulated: crypto gains are taxed at a flat 30%, a 1% TDS (Tax Deducted at Source) applies to transactions above certain thresholds, and losses from one cryptocurrency cannot be set off against gains from another.

Under current Indian tax law (as of the 2022 Finance Act): (1) All gains from selling, swapping, or spending cryptocurrency are taxed at a flat 30% regardless of how long you held the asset. (2) A 1% TDS is deducted on transactions above ₹10,000 per year (₹50,000 for specified persons). (3) Losses from crypto cannot be set off against any other income, and losses from one coin cannot offset gains from another. Always consult a CA or tax advisor for your specific situation.

The major regulated exchanges operating in India include CoinDCX, WazirX, Zebpay, and Mudrex. Each has different fee structures, coin selections, and features. We publish detailed exchange reviews on CoinTakeOn — browse the Exchange category for up-to-date comparisons.

TDS at 1% applies to the sale or transfer of Virtual Digital Assets (VDAs) above the threshold limit (₹10,000/year for most users, ₹50,000/year for specified persons). The TDS is deducted by the exchange on your behalf. If you trade on a foreign exchange that does not deduct TDS, the responsibility to pay falls on you. Consult a CA to ensure you're compliant.

The Reserve Bank of India (RBI) has historically been cautious about private cryptocurrencies. The RBI's earlier circular attempting to ban banks from dealing with crypto was struck down by the Supreme Court in 2020. As of now, banks can offer services to crypto exchanges. However, the RBI continues to express concerns about financial stability risks and has launched its own Central Bank Digital Currency (CBDC), the Digital Rupee (e₹).

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No. All content on CoinTakeOn is for informational and educational purposes only. Nothing we publish constitutes financial, investment, legal, or tax advice. Please refer to our full Disclaimer and always consult a SEBI-registered advisor before making any investment decisions.