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{"id":5910,"date":"2024-05-30T17:57:24","date_gmt":"2024-05-30T12:27:24","guid":{"rendered":"https:\/\/thedigitalskipper.com\/?p=5910"},"modified":"2024-05-30T17:57:39","modified_gmt":"2024-05-30T12:27:39","slug":"a-complete-guide-on-how-to-buy-litecoins","status":"publish","type":"post","link":"https:\/\/thedigitalskipper.com\/a-complete-guide-on-how-to-buy-litecoins\/","title":{"rendered":"A Complete Guide on How to Buy Litecoins"},"content":{"rendered":"\n

Buy Litecoin in India<\/strong><\/a> and understanding crypto tax in India is essential for any cryptocurrency enthusiast. Platforms like the Plena Finance App make it easier to purchase and manage cryptocurrencies while providing valuable information on tax regulations. This guide will walk you through the process of buying Litecoin and explain the intricacies of crypto tax in India.<\/p>\n\n\n\n

How to Buy Litecoin<\/strong><\/p>\n\n\n\n

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  1. Download the Plena Finance App<\/strong>: Start by downloading the Plena Finance App from the Google Play Store or Apple App Store. This app is known for its user-friendly interface, robust security features, and multiple payment options.<\/li>\n\n\n\n
  2. Create an Account<\/strong>: After installing the app, you\u00a0need to\u00a0create an account. Provide your email address, set a strong password, and complete the KYC (Know Your Customer) verification. This process involves submitting identification documents such as your Aadhaar card, PAN card, and a selfie for identity verification.<\/li>\n\n\n\n
  3. Deposit Funds<\/strong>: Once your account is verified, deposit funds into your Plena Finance wallet. The app supports\u00a0various\u00a0deposit methods, including bank transfers, UPI, and debit\/credit cards. Ensure you deposit Indian Rupees (INR) to avoid complications with currency conversion rates.<\/li>\n\n\n\n
  4. Purchase Litecoin<\/strong>: With funds in your account, you\u00a0are ready to\u00a0buy Litecoin. Navigate to the Litecoin (LTC) section in the Plena Finance App and place an order. You can opt for a market order to buy Litecoin at the current market price or a limit order to set your desired purchase price. The app provides real-time market data to help you make informed decisions.<\/li>\n\n\n\n
  5. Store Your Litecoin<\/strong>: After purchasing Litecoin, it is crucial to store it securely. While you can keep your Litecoin in the Plena Finance\u00a0App\u2019s\u00a0wallet, transferring it to a personal wallet offers enhanced security.\u00a0<\/li>\n<\/ol>\n\n\n\n

    Crypto Tax in India<\/strong><\/p>\n\n\n\n

    Understanding crypto tax in India is vital for complying with the law and managing your investments effectively. Here\u2019s an overview of how to calculate Crypto tax in India:<\/p>\n\n\n\n

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    1. Taxable Events<\/strong>: In India, cryptocurrencies are considered assets. Consequently, buying, selling, or trading cryptocurrencies, including Litecoin, are taxable\u00a0events. Profits from these activities are subject to capital gains tax and understanding to calculate Crypto tax in India<\/strong><\/a> is necessary for that.<\/li>\n\n\n\n
    2. Capital Gains Tax<\/strong>: There are two types of capital gains taxes in India:<\/li>\n<\/ol>\n\n\n\n