OpenRate Research
Everything we've learned about P2P crypto in India
108 articles on tax, regulation, exchange specifics, payment rails, arbitrage, and how to avoid the scams that show up on every UPI receipt screenshot.
USDT vs USDC — which should Indians use?
USDT has the deepest P2P liquidity in India; USDC is regulatorily safer but barely tradeable on Indian P2P. Here's the trade-off.
Can I buy BTC directly via P2P in India?
Yes, but the market is thin. Most Indians buy USDT first then swap on spot. Here's when direct BTC P2P makes sense.
ETH P2P trading in India — practical guide
ETH P2P is even thinner than BTC. Most users buy USDT then swap. The exception is regular DeFi participants who want ETH directly.
What stablecoins beyond USDT trade in India?
USDC has small volumes; FDUSD and DAI exist on spot but barely on P2P. Here's the practical landscape.
Can I trade BNB, SOL, or alts directly via P2P?
Yes for BNB on Binance P2P; rarely for others. Most altcoin acquisitions in India go through USDT spot.
USDT TRC-20 vs ERC-20 vs BEP-20 — which network in India?
TRC-20 is fastest and cheapest for moving USDT between exchanges. ERC-20 is for DeFi. BEP-20 is for BNB Chain ecosystem. Pick by destination.
Is Tether (USDT) safe in 2026?
Reserves are mostly US Treasuries with monthly attestations. Tail risk has reduced significantly but isn't zero. Here's the realistic picture.
What does 'VDA' mean in Indian tax law?
Virtual Digital Asset. Defined in Section 2(47A) of the Income Tax Act since 2022. Includes crypto, NFTs, and 'similar' assets — broadly drafted.
How is crypto staking income taxed in India?
Staking rewards are taxable as 'other source' income at slab rate when received. Subsequent sale of staked tokens triggers 30% under 115BBH.
Is crypto mining legal in India?
Yes. Mining is taxed as business income on rewards, then 30% on sale. Power costs are deductible against the business income leg, not the VDA leg.