The demand for cryptocurrencies is on a roller coaster ride this year due to the bearish bandwagon in the global market. By end of the second quarter of 2022, emerging markets currently dominate cryptocurrency adoption, and India ranks fourth. Cryptocurrencies continue to be among hot topics for investment options despite their complexity, and high sentiment-driven nature. Cryptocurrencies are risker than stocks. However, this market has shown a unique form of investment in digital currencies and many are still hoodwinked by its charm. Just like every other investment in market-related instruments, cryptocurrencies also have a host of tax rates that an investor will have to pay on their transactions. However, some tax reliefs are applicable especially for crypto assets like airdrops, savings accounts, etc.