Bitget Enters India Amidst Crypto Taxation Policies
This strategic decision comes right after the newly levied crypto taxation policies in India.
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Bitget, the leading derivatives exchange, has announced its entry into India in order to provide a secure, and compliant platform for trading crypto futures, derivatives and one-click copy trading.
Bitget Expands to India
As per the current crypto regulations in the region, capital gains or profits on cryptocurrencies will be taxed at 30% with an additional TDS tax of 1% on all trading transactions.
Sandra Lou, CEO and Co-founder of Bitget, said:
“We’ve received an overwhelming demand for support from India. At Bitget we’re constantly looking to grow and expand by creating a safe and transparent environment to drive mass adoption. Indian crypto traders exceed the population of several countries, with over 100 million users holding digital assets. Our mission is to provide a secure platform to interact with digital assets and provide support to nations fostering its growth.”
To simplify crypto taxation, Bitget has partnered up with Koinly, a leading crypto taxation software that can be utilized to calculate taxes in regions like India, and 19 other countries.
Only second to the US, India has one of the largest blockchain developer bases and a flourishing crypto ecosystem with more than 300 WEB 3.0 startups.
Statistics in 2020 showed that Indian Bitcoin trades around $60 million every day. As one of the flourishing tech markets, India stands as the next emerging hub for blockchain and crypto.
Upon entry into the Indian market, it will move on to hire experts and develop a crypto community, in order to contribute to the growth of the crypto and blockchain industries.
Bitget, a leading global cryptocurrency exchange established in July 2018, serves millions of customers in more than 50 countries. Bitget aims to contribute to decentralised finance on a global scale. Since its launch, Bitget has become one of the world’s largest crypto copy trading platforms, through the gaining popularity of its flagship One-Click Copy Trade products. Adhering closely to our mission of Better Trading Better Life, Bitget is committed to providing comprehensive and secure trading solutions to our users around the world.
Previously Bitget partnered up with world-renowned football team Juventus as its first-ever sleeve partner , PGL Major’s official eSport crypto partner and Turkey’s leading and long-standing football club, Galatasaray.