Can you please provide some information regarding Bitcoins? it is gaining quite a lot of popularity.
- short description about Bitcoins.
- Is it safe to invest in Bitcoins?
- can we consider it another type of asset?
- how to invest if one want to ?
- benefits of holding for short term and long term.
- any tax deduction on earner money
As of now, there are no such confirmation from RBI stating Bitcoin is valid or invalid. But RBI cautioned public in using such virtual currencies. Also, I am not an expert in this matter. Hence, I can’t guide you beyond this.
Personally I prefer the product or way of investment which is highly regulated than investing in somewhere which involves huge risk.