In India, USDT is sold at a premium of 5-12% above global rates, impacting local crypto traders. This premium, driven by high demand and regulatory challenges, makes intraday trading less profitable.
CoinSwitch and WazirX executives highlight that Indian regulations complicate direct crypto transactions, pushing traders to use USDT as a stable alternative. The 1% TDS and 30% capital gains tax further discourage short-term trading.
Many Indian traders resort to peer-to-peer transactions to buy USDT, facing risks of scams. Despite high costs, long-term investing remains viable.
India’s crypto community is adapting, with increasing trading volumes on major exchanges, underscoring the sector’s resilience.
