{"id":603,"date":"2024-02-17T12:53:22","date_gmt":"2024-02-17T12:53:22","guid":{"rendered":"https:\/\/pi42.com\/blog\/?p=603"},"modified":"2024-02-19T12:53:38","modified_gmt":"2024-02-19T12:53:38","slug":"crypto-inr-vs-crypto-usdt-whats-the-difference","status":"publish","type":"post","link":"https:\/\/pi42.com\/blog\/crypto-inr-vs-crypto-usdt-whats-the-difference\/","title":{"rendered":"Crypto-INR vs Crypto-USDT, What&#8217;s the Difference?"},"content":{"rendered":"\n<p>This is the new age of crypto, where rupees now hold their own ground!&nbsp;<\/p>\n\n\n\n<p>But, with the arrival of Crypto-INR pairs, some of you might be scratching your heads \u2013 what&#8217;s the difference between these and the already existing Crypto-USDT pairs? Don&#8217;t worry, we&#8217;ve got your back!<\/p>\n\n\n\n<p>Think of crypto pairs as trading partnerships. On one side, you have your chosen cryptocurrency, like Bitcoin or Ethereum. On the other hand, you have a currency used for buying and selling.&nbsp;<\/p>\n\n\n\n<p>When it comes to futures trading, crypto pairs define the two assets involved in the contract. In simpler terms, you&#8217;re essentially laying on the future price movement of one asset relative to another. But with the rise of INR pairs, Indian traders now have more choices than ever:<\/p>\n\n\n\n<p>Crypto Pairs: USDT vs. INR &#8211; The Indian Trader&#8217;s Choice<\/p>\n\n\n\n<p>In India, two main options dominate: USDT pairs and the new and advanced INR pairs. Here&#8217;s a breakdown:<\/p>\n\n\n\n<p>Understanding USDT Pairs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Paired with Tether (USDT): A stablecoin pegged to the US dollar, offering relative stability in value.<\/li>\n\n\n\n<li>Conversion hassle: Requires converting rupees to USDT before trading, adding an extra step and potential fees.<\/li>\n\n\n\n<li>Tax implications: Profits from USDT transactions come under the 30% VDA tax and 1% TDS (Tax Deducted at Source) when converting your profits from USDT to INR. <\/li>\n<\/ul>\n\n\n\n<p>Understanding INR Pairs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Traded directly with Indian Rupees (INR): No more conversions, simplifying the process for Indian users.<\/li>\n\n\n\n<li>Reduced VDA tax: While the 30% VDA tax still applies, INR pairs avoid additional taxes associated with crypto assets since no transfer of Virtual Digital Asset is happening .<\/li>\n\n\n\n<li>Exclusive availability: Currently, INR pair is offered only on Pi42 in India.<\/li>\n<\/ul>\n\n\n\n<p>Benefits of INR Pairs over USDT Pairs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Convenience: Trade directly in your familiar currency, skipping conversion steps.<\/li>\n\n\n\n<li>Cost-effective: Avoid 1% TDS and potential conversion fees.<\/li>\n\n\n\n<li>Tax efficiency: Reduced tax burden compared to USDT transactions.<\/li>\n\n\n\n<li>Transparency: Track profits and losses clearly without fluctuating exchange rates.<\/li>\n\n\n\n<li>Offset Losses: You can potentially offset short-term losses from other crypto trades, minimising tax liability.<\/li>\n<\/ul>\n\n\n\n<p>Experience the convenience, cost-effectiveness, and tax benefits of trading directly in your own currency. Just explore and enjoy the ride!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the new age of crypto, where rupees now hold their own ground!&nbsp; But, with the arrival of Crypto-INR pairs, some of you might be scratching your heads \u2013 what&#8217;s the difference between these and the already existing Crypto-USDT pairs? Don&#8217;t worry, we&#8217;ve got your back! Think of crypto pairs as trading partnerships. On [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":604,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"zakra_page_container_layout":"customizer","zakra_page_sidebar_layout":"customizer","zakra_remove_content_margin":false,"zakra_sidebar":"customizer","zakra_transparent_header":"customizer","zakra_logo":0,"zakra_main_header_style":"default","zakra_menu_item_color":"","zakra_menu_item_hover_color":"","zakra_menu_item_active_color":"","zakra_menu_active_style":"","zakra_page_header":true,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[15],"tags":[6,9],"class_list":["post-603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meet-up","tag-crypto-futures","tag-crypto-trading"],"jetpack_featured_media_url":"https:\/\/pi42.com\/blog\/wp-content\/uploads\/2024\/02\/vs.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts\/603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/comments?post=603"}],"version-history":[{"count":1,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts\/603\/revisions"}],"predecessor-version":[{"id":605,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts\/603\/revisions\/605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/media\/604"}],"wp:attachment":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/media?parent=603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/categories?post=603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/tags?post=603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}