INDMoney for US Stocks by codingdefined

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hive-167922 · @codingdefined · Nov 9 '24

$5.10

INDMoney for US Stocks

The other day @inuke messaged me asking about how I buy US stocks. I use INDMoney to buy the US stocks, and to be honest it is one of the Simplest app to buy the stocks. I actually started for buying the Bitcoin ETF from the US Stocks because in the longer term, Bitcoin ETF will only have 20% tax whereas the direct Bitcoin will have 30% tax so I could solve the 10% tax from it.

So the tax implications for US stocks are that for short term (before 24 months) we have to pay tax as per our income tax whereas if we sell the stocks after 24 months then we have to pay just 20% tax of the gains. So that's why when we buy the Bitcoin ETF and sell if after 2 years we just have to pay 20% tax on the profit amount.

Also when we buy the US S&P Index from the Indian Market, it becomes too volatile whereas when we buy it fron the US market it will br less volatile. The only problem I feel with the US stocks buying using the INDMoney is that the initial conversion from Indian Rupee to US Dollar, thus because of that conversion we lose some amount.

Now with so many scams happening in the Crypto Exchanges, for most of the people buying Bitcoin ETF makes much mote sense than creating a paper wallet or getting the hardware wallet. Now people who have very less amount in the crypto getting the hardware wallet doesn't make sense, so buying from it for the longer term actually makes sense.

So if you are buying for Rs 10K you will get the $116.27 in your account which you can use to buy the stocks. The today's exchange rate would be around Rs 85.62 which is around Rs 1.5 higher than actual. And then there is a GST too.

![Screenshot_20241109_192543_INDmoney.jpg](https://files.peakd.com/file/peakd-hive/codingdefined/23y98R6cDfy6ymxfYT8GadkCTKLffrth1e6qri1VvtzfVhWT5LiagiEyhcqDujFyTqgYK.jpg)

Overall I find INDMoney as better platform for investments than the other platform and thus I am investing through it.

_______________________________

***If you would like to learn about Finances, do checkout [My YouTube Channel](https://youtube.com/@salariedindividual?si=CjtWEkZKRKQw-b0N) where you will learn about Finances, Stocks, Investments Advices, Passive Incomes Sources and Much More.***

👍 sanjeevm, indiaunited, bala41288, alokkumar121, brofi, bobinson, pishio, bhattg, ecency, muterra, nainaztengra, etblink, steemflow, dailydab, prosocialise, balaz, kanibot, nfttunz, spydo, steembasicincome, kannannv, arunava, supriya.gupta, dab-vote, khan.dayyanz, pixelfan, portugalcoin, aleister, okluvmee, disregardfiat, jatinhota, godfather.ftw, photolovers1, imacryptogeek, chandra.shekar, imfarhad, beyondhorizonmm, amitsharma, chinay04, harryji, mmunited, heteroclite, lordnasty, good-karma, isnochys, deimage, brofund, wildarms65, baltai, kamaleshwar, yogeshbhatt, steem-holder, bozz.sports, splash-of-angs63, catotune, doobetterhive, lifecruiser, sidekicker, manojbhatt, neoxvoter, hardikv, dikshabihani, clubvote, frasier, and 60 others

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sanjeevm	3,625,877,516,271	70%
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nainaztengra	326,191,698,507	20%
splash-of-angs63	5,256,363,717	20%
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jatinhota	40,937,773,773	40%
lifecruiser	4,150,328,126	50%
inuke	603,350,755	20%
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bobinson	597,234,569,112	50%
sankysanket18	1,227,674,560	25%
vishire	1,685,167,454	50%
silenteyes	1,756,810,231	25%
shonyishere	2,938,265,387	50%
steembasicincome	90,466,573,099	1.83%
ahmadmangazap	1,363,050,783	0.5%
spydo	97,701,640,159	25%
frames	886,040,543	25%
harryji	16,505,544,623	100%
bala41288	1,809,673,775,392	50%
portugalcoin	50,165,001,585	10%
dynamicrypto	2,400,371,512	5%
indiaunited	3,232,645,807,289	50%
upfundme	2,720,631,988	7.89%
bhattg	437,321,248,502	50%
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mchandra	563,342,351	2.5%
raqibul	1,039,127,712	25%
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maujmasti	602,488,878	100%
frasier	3,283,390,276	94.9%
ragavee	1,799,622,861	25%
therabbitzone	829,159,309	50%
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steemtpistia	345,779,148	100%
piensocrates	2,735,097,491	30%
mmunited	16,385,629,371	70%
buildingpies	854,056,352	1.83%
karishmasingh711	2,312,324,981	100%
khan.dayyanz	68,613,413,617	45%
olaexcel	871,056,485	25%
badfinger	1,408,116,641	25%
bala-ag	364,411,586	50%
sidekicker	4,066,769,705	100%
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kanibot	112,553,919,865	50%
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phython	111,038,337	100%
brofund	10,435,439,552	10.52%
imfarhad	34,742,922,576	35%
ecency	413,287,217,151	1%
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sidjay	751,563,268	15%
ecency.stats	344,122,583	1%
dikshabihani	3,349,587,475	25%
vandanabhatt	959,608,504	50%
gabrieljr	720,092,108	25%
yogeshbhatt	6,904,466,088	50%
godfather.ftw	38,351,586,655	45%
esmeesmith	477,816,846	0.5%
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okluvmee	45,675,372,680	25%
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beyondhorizonmm	32,458,083,375	70%
eolianpariah2	1,680,050,393	0.6%
deimage	11,372,144,202	25%
cryptohaytham	706,253,450	25%
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listnerds	1,254,319,815	20%
heteroclite	15,817,806,112	25%
yameen-ag	1,356,580,187	80%
balaz	114,391,435,467	50%
prosocialise	116,235,345,918	25%
doobetterhive	4,449,664,976	100%
emreal	644,974,563	15%
ctptips	90,306,961	15%
rajatrandom	274,110,123	100%
pinkchic	2,581,151,721	7.5%
fredaig	754,662,618	10%
imacryptogeek	36,145,340,731	50%
kalibudz23	226,813,871	100%
abhay2695	3,274,401,080	25%
ranjith98	910,985,695	25%
chinay04	17,401,610,406	25%
cypher09	461,215,731	17%
dailydab	138,303,984,428	5.26%
lordnasty	14,058,342,593	100%
adeade123	1,393,778,355	25%
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vaultingagent	0	100%
bbypanda4	1,776,224,087	50%
dab-vote	72,075,741,948	5.26%

@bhattg · Nov 9 '24

Ha yes best app hai mai bhe yahe se invest krta hu aab mene bhe krna hai us Market mai bhe investment

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@codingdefined · Nov 10 '24

Haan wohi, yahi best laga mereko

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@indiaunited · Nov 9 '24

Indiaunited Curation 1731166441326

This post has been manually curated by @alokkumar121 from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

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[![image.png](https://files.peakd.com/file/peakd-hive/bala41288/46eaz12N-image.png)](https://discord.gg/bGmS2tE) 

<sub>**100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @alokkumar121 by upvoting this comment and support the community by voting the posts made by @indiaunited.**</sub>. 

This post received an extra 20.00% vote for delegating HP / holding IUC tokens.

properties (22)

@inuke · Nov 9 '24

Thanks for the detailed post😅. The conversion rate is High plus taxes is too much. Theres a lot of leakage in this system. Plus the fluctuations is too much. But I think all of this is worth a try. Will definitely give it a go. 

I will try and explore other apps too, I came across Vested as one of the broker that offer this service. Will check out both. 

✨✨✨

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@codingdefined · Nov 10 '24

Yeah let me know once you explore other apps...

properties (22)