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Ontology Gas
ONGRank #596What is Ontology Gas?
Since the Ontology MainNet went live on June 30th, 2018, MainNet ONT has started to release ONG periodically.
Ontology uses a dual token (ONT and ONG) model. ONT is the coin and can be used for staking in consensus, whereas ONG is the utility token used for on-chain services.
How to Buy Ontology Gas in India
The easiest way to buy Ontology Gas (ONG) in India is through an FIU-registered Indian exchange. Here's how:
- Create an exchange account: pick an exchange that appears on the FIU-IND register and complete KYC verification (Aadhaar and PAN).
- Deposit INR: add funds by UPI, IMPS or bank transfer.
- Search for ONG: use the search bar to find Ontology Gas, then tap it to open the trading pair.
- Place your order: enter the amount in INR you want to invest. Use a market order to buy now, or a limit order to set your price.
- Secure your holdings: your ONG sits in your exchange wallet. For large amounts, consider moving it to a hardware wallet.
Tax on Ontology Gas in India
30% flat tax on all crypto profits under Section 115BBH of the Income Tax Act. No deductions allowed except cost of acquisition.
1% TDS on all crypto transactions above ₹10,000 under Section 194S. This is deducted automatically by Indian exchanges and can be claimed as credit when filing ITR.
Losses from Ontology Gas trading cannot be set off against gains from other cryptocurrencies or any other income. Each transaction is taxed independently.
For a complete breakdown of crypto taxation in India, including ITR filing steps and airdrop rules, read our Crypto Tax India 2026 Guide.
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