I was never good at investing in the stock market and its not that I never tried instead I tried a few times but never been in profit. I invested in the stock market for the first time in 2013 and I did buy ETF (exchange-traded funds) for the first time. It was a gold ETF so it was backed by gold and the reason why I purchased because I used to think that gold is a safe investment and there is the least risk. It was my first investment that got me to earn some amount but later I lost more than what I earned and if I summarise my stocks investment then I am at a loss. I am still holding some bank shares and that bank is really not doping well for the last 1 year. I was hoping that atleasy in a year I will be able to earn something however the current portfolio is at a loss and I am not ok to sell off in loss.
After joining crypto, I got more into investing, and because this is something where I have more interest so because of that I spent a significant amount of time learning and utilizing the knowledge in crypto investment. I entered in crypto space in 2017 so its been 4 years and during this period I had learned a lot but I know that there is still a lot for me to learn and explore.
Now With India making crypto a taxable asset also opens the door for positivity and I am quite sure that this will bring more value and people to the crypto ecosystem in India. I agree that the current tax slab is too high but its certainly better to ban it in the country because now at least we can trade freely by paying the tax and this is just ending with a reduction in earnings.
With crypto, I am investing through various ways including SIP and even when there is a dip. Since the last year, I have been trying to buy the dip and for that purpose, I try to save some amount. This strategy has helped me to get some crypto at a lower price and for this purpose, I keep some USDT so that I can use it whenever the price correction happens with 15% or above.
I did not invest anything in the stock market and even when Paytm IPO was going on, I decided to be out of it and it was a good decision. There have been some nice IPOs but I am that much interested in the stock market so I am not sure that I will even invest in coming IPOs and LIC can be the next big. I may think of it but have not yet decided as of now.
I am working to build my crypto portfolio big and that too for the long term so that in the next few years I can execute some plans and these are only after 2025 so I have the time of 3 years or more. I expect that in the next 3 years, crypto will grow and it will not be a surprise if we see bitcoin over 100k $ and hive at $5 or more. I believe that investing is fun and a journey if we have a clear objective and plans and I know what I want to build so I am on it to make it happen. I spend time on crypto every day to see what is happening around and what new things can be learned to improve and enhance the investment journey that can help me have a great crypto portfolio.
Thank you so much
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Good Plan.
Btw what's the tax rate in India for crypto?
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