Don't buy crypto in India: Radhika Gupta's blunt advice to investors
At the India Today Woman Summit 2026, Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, told investors not to buy crypto in India. She said the concern was less about the asset and more about weak regulatory, tax and investor recourse safeguards.
Asked whether investors should consider cryptocurrency as a way of creating wealth, Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, had a three-word answer:
“Don't buy crypto.”
Speaking at the India Today Woman Summit 2026, Gupta said her concern was not necessarily with crypto as an asset class globally. Her objection was specifically to investing in crypto in India, where she argued that investors could face problems if things went wrong.
“I have no problem with crypto. I have a problem with crypto in India,” she said.
DON’T INVEST IN WHAT YOU DON’T UNDERSTAND
Gupta's first warning was a familiar one: investors should not put their money into products they do not understand.
She recalled an incident involving an uncle who wanted to buy crypto. When she asked him why, he could not explain why he wanted to invest in it.
That, according to Gupta, is itself a red flag.
Her advice is particularly relevant when an investment becomes popular because everyone else appears to be making money from it. Popularity does not necessarily mean an investor understands the underlying asset, the risks involved or what could happen when markets turn.
“Don't buy things you don't understand,” she said.
WHY HER ANSWER COULD BE DIFFERENT IN THE US
Gupta also made an important distinction about geography.
She said that if she were sitting on a stage in the US and having the same conversation, she might have given a different answer.
“But in India, why would you invest when you have no resort to go to if something goes wrong?” she asked.
Her argument is that investors need to consider the regulatory and tax environment in the country where they are investing. Gupta said she sees the lack of a regulatory and tax framework for crypto in India as a major concern.
For an investor, the question is therefore not simply whether an asset can generate high returns. It is also about what protections and recourse are available if an investment platform fails, a dispute arises or something goes wrong.
HIGH RETURNS ARE NOT ENOUGH
Gupta's crypto warning fits into her broader approach to investing: understand the product, understand the risk and make sure you know why you are buying it.
She repeatedly argued during the session that investing does not have to mean chasing the most exciting or complicated product.
Instead, she compared a sensible portfolio to an Indian thali containing equity, debt and gold, with each serving a different purpose.
She also used the analogy of a financial food court to explain mutual funds, where investors can choose products according to the amount of risk they are comfortable taking.
The message is essentially the opposite of chasing the next big thing.
For investors who are tempted by crypto because of stories of massive wealth creation, Gupta's answer was deliberately blunt.
“Don't buy crypto in India,” she said.
And her reasoning was not that every crypto investment will necessarily lose money. It was that investors should be particularly cautious about putting money into an asset they do not understand, in a market where they may not have the protections or recourse they expect.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)