The growth of the Indian cryptocurrency industry has been quite slow amid strict tax policies. Industry leaders in India believe that cryptocurrency futures trading can be a great solution to help potential investors still trade cryptocurrencies without having to worry about tax burdens.Nischal Shetty and Avinash Shekhar – both Indians veterans Network 3 In a conversation with Gadgets360, arena highlighted the issues with India’s cryptocurrency tax regime and the need for cryptocurrency players to introduce such services that will undoubtedly increase interest in these otherwise volatile areas Cryptoassets.

ZebPay CEO Shetty and WazirX founder Shekhar said crypto derivatives have been a huge success, successfully accounting for a large portion of crypto-driven trading volume.Shetty and Shekhar cited this and many other reasons to justify the timing of launching their futures trading platform. ‘Pi42’ This was announced earlier this month.

“The cryptocurrency ecosystem has matured, requiring more sophisticated trading tools. Against this backdrop, India’s interest in derivatives trading has also grown exponentially over the years,” Shetty said.

Elaborating on his views, the CEO of ZebPay noted that India contributed 90.7 billion smart contracts in derivatives trading to the global derivatives market in 2023. In this type of trade, the underlying asset provides value to the derivative, allowing traders to speculate on the price movement of the underlying asset and ultimately make a trade.

In a spot transaction, the holder trades and pays the token’s current price One percent TDS With each trade, and with derivatives and futures trading, the holder can hold on to the asset for a longer period of time – waiting for the asset to reach a speculated price point. Doing so helps traders save 1% TDS deduction on spot transactions.

“We are on the verge of a potential bull market. We believe it is important to create avenues for investors who want to participate in the cryptocurrency market in a tax-efficient manner. The idea of derivatives trading is a perfect fit because this way, if investors don’t want to but don’t By being left behind, they don’t have to directly own cryptocurrency. It’s a great way for them to understand all the activity happening in the cryptocurrency market.” BasilX Shahar told Gadgets360.

He pointed out that while the government is considering lowering the 1% TDS for all cryptocurrency transactions to 0.01%, traders need to participate in daily trading activities. He revealed the findings based on his own experience, noting that young Indian workers are very interested in staking, participating in airdrops and referral programs in addition to traditional trading.

“Futures and derivatives have become areas of increasing interest, with lower spreads and higher market liquidity. Modern investors are aware, knowledgeable, and tech-savvy. Some investors know how to build diversified investments Portfolio for financial security. Owing to its decentralized ecosystem, people’s affinity for virtual digital assets is growing and various use cases are sustaining user interest,” Shekhar added.

Now that the Pi42 futures trading platform has launched in India, both industry veterans plan to expand it to other international locations and capitalize on the demand for alternatives to traditional asset trading.

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