A guide for complete beginners, written for those who want to understand what they are doing before they do it. 43 short chapters, 33 diagrams, and one thread: know what you really own, how to protect it, and how to declare it.
Who is it for?
- You have never bought crypto and want to start without getting trapped.
- You already have a few thousand rupees on an app, without knowing where your crypto really is.
- You sell occasionally and the Schedule VDA on ITR-2 gives you cold sweats.
If you are looking for trading strategies or a list of cryptos to buy, this book is not for you: it gives none.
What you will be able to do
01
Understand
Blockchain, Bitcoin, Ethereum, stablecoins: the ideas, without the jargon.
02
Buy
Choose a FIU-IND registered platform, make a first purchase, set up a recurring buy with UPI.
03
Secure
Address, private key, seed: what you really own, and how to keep it.
04
Protect
The scenario behind almost every scam in India, and the procedure if the worst happens.
05
Sell
Sell, withdraw your rupees, understand the fees that pile up in silence.
06
Declare
Schedule VDA explained line by line, the 30 % rate, 1 % TDS credit, 4 % cess, and Schedule FA for foreign accounts.
Included with the book
The tracking spreadsheet
Every reader gets a tracking spreadsheet: one line per transaction, and it keeps your holdings, your average cost, what your portfolio is worth today, and how long you have held each purchase. It then exports the list of your transactions as a plain file, ready for the Schedule VDA section of your return or for handing straight to a chartered accountant. The access code is printed in the book.
Go to the bonus pageFrequently asked questions
From what amount do I pay tax on crypto in India?
There is no exemption threshold in India. The very first rupee of gain on a transfer of a Virtual Digital Asset (VDA) is taxable at 30 %, plus 4 % health and education cess. This is unlike some other countries that have a small-sale allowance.
What is the tax rate on crypto gains in India?
A flat 30 % on the gain from every VDA transfer (sale for rupees, crypto-to-crypto swap, stablecoin conversion, or payment in crypto), plus 4 % health and education cess on the tax, making an effective floor of 31.2 % for most taxpayers. A surcharge applies only above ₹5 crore of total annual income. There is no option to choose the regular slab rates instead.
Is swapping one crypto for another (or into a stablecoin) taxable in India?
Yes. Every transfer of a VDA is a taxable event in India. Swapping Bitcoin for Ethereum, moving into USDT, or paying for goods in crypto all trigger the 30 % tax on any gain. There is no crypto-to-crypto deferral like in some other jurisdictions.
Do I need to file anything if I only held crypto and did not sell?
No capital gain arises without a transfer. However, if you held crypto on a platform based outside India (Binance, Kraken, Coinbase, etc.) at any point during the calendar year (1 January – 31 December), even for a single day and even with no gain, you must declare that account in Schedule FA (Foreign Assets) of your Income Tax Return. Your own wallets (Ledger, MetaMask, etc.) are not accounts held with anyone else and are not reported on Schedule FA.
How much money do I need to start?
A few hundred rupees are enough to learn the gesture. The right amount is one whose total loss would not change your daily life, and it comes after your emergency savings.
Where do I keep my seed phrase (recovery phrase)?
Offline, never in a photo, never in the cloud, never shared with anyone. Paper is enough for learning with small amounts; beyond that, a metal plate resists fire and water.
The author
Léo Maraval explains crypto the way someone should have explained it to you on day one: clearly, calmly, with nothing to sell.
Next in the series
BOOK 2
The Other Cryptos
Families, jobs and narratives: how to read a project before you put a rupee in it.
BOOK 3
Putting Your Cryptos to Work
DeFi: lend, provide liquidity, earn a yield, and the risks that come with it.