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Maker
MKRWhat is Maker?
MKR is a cryptocurrency depicted as a smart contract platform and works alongside the Dai coin and aims to act as a hedge currency that provides traders with a stable alternative to the majority of coins currently available on the market. Maker offers a transparent stablecoin system that is fully inspectable on the Ethereum blockchain. Founded almost three years ago, MakerDao is lead by Rune Christensen, its CEO and founder. Maker’s MKR coin is a recent entrant to the market and is not a well known project. However, after today it will be known by many more people after blowing up 40% and it is one of the coins to rise to prominence during the recent peaks and troughs.
After being developed by the MakerDAO team, Maker Dai officially went live on December 18th, 2017. Dai is a price stable coin that is suitable for payments, savings, or collateral and provides cryptocurrency traders with increased options concerning opening and closing positions. Dai lives completely on the blockchain chain with its stability unmediated by the legal system or trusted counterparties and helps facilitate trading while staying entirely in the world of cryptocurrencies. The concept of a stablecoin is fairly straight forward – it’s a token that has its price or value pegged to a particular fiat currency. A stablecoin is a token (like Bitcoin and Ethereum) that exists on a blockchain, but unlike Bitcoin or Ethereum, Dai has no volatility.
How to Buy Maker in India
The easiest way to buy Maker (MKR) 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 MKR: use the search bar to find Maker, 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 MKR sits in your exchange wallet. For large amounts, consider moving it to a hardware wallet.
Tax on Maker 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 Maker 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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