icp-inr trading

What is the New ICP/INR pair on Pi42?

Greetings, Pi42 traders!

Get ready to explore the cutting-edge world of WebAssembly with Internet Computer (ICP)! Now, Indian crypto enthusiasts can leverage Pi42 to trade ICP directly with the Indian Rupee (INR).

What is Internet Computer (ICP)?

Internet Computer is a groundbreaking blockchain platform designed to host smart contracts and scale them to real-world needs. Here’s what sets ICP apart:

  • WebAssembly Integration: ICP allows developers to build high-performance smart contracts using WebAssembly, a widely adopted web technology.
  • Scalability: ICP boasts a unique architecture that aims to overcome the scalability limitations of traditional blockchains.
  • Decentralized Internet: The platform aspires to create a decentralized alternative to the current internet infrastructure.

Key Features of Internet Computer (ICP):

  • Chain Key Technology: ICP utilizes a novel “chain key” cryptography system to ensure secure communication between smart contracts and the internet.
  • Network Nervous System (NNS): This built-in governance system allows token holders to participate in the network’s decision-making process.
  • Software Development Kits (SDKs): ICP offers developer-friendly SDKs for various programming languages, fostering a vibrant development environment.

Benefits of Trading Internet Computer (ICP) on Pi42:

  • Tax Efficiency:
    • No TDS (Tax Deducted at Source): Simplify your tax calculations and avoid upfront deductions on your crypto trades.
    • No VDA Tax (Virtual Digital Asset Tax): Benefit from the absence of this recently proposed tax in India
    • Loss Offsetting: Offset potential losses from your crypto trades with your gains for tax optimization purposes.
  • Thinner Spreads: Pi42 strives to provide competitive bid-ask spreads, potentially leading to more favorable execution prices for your trades.

Ready to Explore Internet Computer (ICP)?

Here’s a quick guide to get you started:

  1. Login: Access your Pi42 account.
  1. Navigate: Head to the trading terminal.
  1. Select the Pair: Choose ICP-INR from the dropdown menu.
  1. Define Your Position: Enter your desired investment amount, select your preferred leverage (if applicable), and adjust the percentage according to the minimum asset requirements.
  1. Set Limits (Optional): Establish Take Profit and Stop Loss orders to manage your risk.
  1. Execute Your Trade: Click “Buy/Long” or “Sell/Short” based on your market analysis.
  1. Track Your Trade: Monitor your open positions in the “Orders and Positions” section below the trading chart.

Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.