Is It a good idea to buy Crypto at this moment in India?
I'm from Mumbai, India. I'm a freelancer and recently I got 3.4 Lakh rupees after my freelance work. At first, I thought of buying gaming accessories, then later thought of investing. I was just being curious that should I buy Bitcoin or any other crypto? Is India going to ban Bitcoin or cryptocurrency in 2022?
First of all, the Indian Government is banning only private cryptocurrencies. But the catch is that an enormous number of people are going to sell their various crypto assets after the ban is initiated thus resulting in a Market Drop. So, it's better to not buy crypto at this moment, instead go for some other assets until RBI launches their own Digital currency. Until the market falls down, invest your money in any strong base asset, as soon as it does, buy your crypto assets at the lowest price, or if you feel comfortable try buying RBI's own Digital currency.