Planning to invest money? Don't enter cryptocoin trade for quick gains

Invest for the long term via SIP, and limit allocation to 5-10% of the portfolio

Bitcoin crossed the $28,000-mark on December 27. It has rewarded investors with a return of about 280 per cent over the past year. With the rally expected to continue, interest in cryptocurrencies has spiked within India, too. The Indian government is now exploring a proposal to impose an 18 per cent goods and services tax (GST) on cryptocurrency transactions.

The Supreme Court’s decision was the turning point. According to Arjun Vijay, chief operating officer (COO), Giotuss Cryptocurrency Exchange, “From March 2020, after the Supreme Court lifted the two-year ban imposed by the Reserve Bank of India (RBI) on banks and financial