Crypto news: Indian investors have matured, buying BTC in shift from speculative tokens
Indian crypto investors are maturing, now buying Bitcoin dips and favoring established assets over speculative tokens, according to CoinDCX.Summary
CoinDCX reports that Indian crypto investors are showing increased maturity by buying dips in Bitcoin (BTC) and focusing on well-diversified portfolios that include layer 1 tokens like Ether, Solana, and XRP. CEO Sumit Gupta noted that investors are moving away from the speculative frenzy of 2021, instead using systematic investment plans (SIPs) and limit orders, viewing Bitcoin for long-term wealth creation. This shift occurs as Bitcoin's price has dropped from its October high, though trading volumes on CoinDCX rose from $269 million in December to $309 million in January, showing a balance between short-term profit-taking and long-term accumulation. Despite India's cautious regulatory stance—maintaining a 30% tax on gains and a 1% transaction tax—exchanges must adhere to strict KYC and transaction reporting mandates from the Financial Intelligence Unit.
(Source：CoinDesk)