crypto futures: Why are Indian traders flocking to crypto futures over spot deals?
Mumbai: In India’s discreet, and sometimes furtive, world of cryptocurrencies, a new story is playing out. Crypto futures trading has whizzed past spot deals across all local exchanges offering derivatives of virtual digital assets (VDAs).
A crypto rally, traders getting a taste of profits, escaping the high tax deducted at source (TDS) and paying a lower tax on profits have tempted many to try their luck on futures. The charm of betting big with little money has pushed up futures volumes to three times or even more of spot volumes.
Futures are leveraged trades where traders can take exposure of as high as 10 to over 50 times the margin amount they chip in, as against a spot transaction where the full consideration is paid. Here, the…
