Tuesday, July 5, 2022
About us | Contact
Blockzeit
  • bitcoinBitcoin(BTC)$19,711.691.53%
  • ethereumEthereum(ETH)$1,126.235.85%
  • binancecoinBNB(BNB)$228.043.99%
  • SolanaSolana(SOL)$34.492.89%
  • dogecoinDogecoin(DOGE)$0.066815-0.27%
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
No Result
View All Result
Blockzeit
No Result
View All Result
Home Bitcoin News
golden bitcoin and flag of india cc by 20

golden bitcoin and flag of india cc by 20

Crypto in India More Popular Than Ever Before

Aaron Moses by Aaron Moses
June 29, 2021
in Bitcoin News
Reading Time: 3 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

Crypto in India is booming. While there’s a lot of doubt in the cryptosphere these days about the market’s future, there is always a ray of light somewhere. And in this case, that is the fact that Indian investments in cryptocurrency have risen to nearly 20,000% in a single year according to new findings from Coingecko.

This image has an empty alt attribute; its file name is 03224cd8-c0cf-455b-8e01-6d37a4ae088a.png
Screenshot from Chainalysis: Surge in Crypto Investors in India

Since last year, the top four crypto exchanges in India have had an increase of daily trading. From $10 million all the way up to new findings of $100 million. India has now become one of the world’s top crypto markets in the world.

Why people in India would rather buy Bitcoin than Gold

This is a strong reversal from India’s love of gold. Though it appears that the country has hopped onto the digital assets train even if the Indian government has threatened to ban it. A native young entrepreneur, Richi Sood, said that she is more interested in crypto than physical assets at the moment. She said:

“I’d rather put my money in crypto than gold. Crypto is more transparent than gold or property and returns are more in a short period of time.”

It turns out that Sood is quite a savvy trader however. She sold a part of her positions earlier in February when Bitcoin broke new grounds in the $50,000 price range. After the big crash in May, Sood bought back her position with the profits she made.

Earlier in this month it was documented that the Indian government is currently reviewing a proposed legalization that would see crypto banned in India. However, it was revealed by an anonymous source that the government is also seriously considering a form of legalization that would not ban cryptocurrencies and other digital assets.

However, not everyone is dismayed by the news. Sood in particular commented in regards to this:

“I have a risk-taking appetite, so I’m willing to take a risk of a ban.”

It appears the big shift comes from the younger generations who is willing to take on higher risk investments like cryptocurrencies.

Final thoughts

The founder of an Indian crypto exchange told Bloomberg:

“They find it far easier to invest in crypto than gold because the process is very simple. You go online, you can buy crypto, you don’t have to verify it, unlike gold.”

On that point, pioneers in the crypto field have done an excellent job in providing liquidity for the crypto market through the novel inventions of liquidity pools and automated market makers.

If anything, this story shows that even in countries that threaten to ban crypto l like India, crypto can continue to not only exist, but thrive. If you are interested in learning more about cryptocurrencies in India you might enjoy: Startup in India proposes Crypto Regulations

Aaron Moses
Aaron Moses

Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.

Previous Post

NFT Platform dotmoovs Prepares To Launch Its MVP Today

Next Post

The Bank Of Israel’s New CBDC – The Digital Shekel

Related Posts

BTC price

Bitcoin Price: BTC Rejects 21-Day EMA Spiking Fears of Further Selling

by Vincent Munene
June 30, 2022
0

Bitcoin (BTC) price is still trending at the 20k level further sinking the market into extreme fear. Traders and investors...

Bitcoin price

Bitcoin Price Consolidates As The Market Waits for the Next Move

by Vincent Munene
June 23, 2022
0

Bitcoin has had one rollercoaster of a year, playing with the psychology of most traders and liquidating them to a...

Bitcoin is down over 70 percent from an all time high of $69,000 reached in November 2021. Image: iStock / Getty Images

What Happens If Bitcoin Crashes Below $15,000?

by Jay Speakman
June 20, 2022
0

An early morning (Saturday, June 18th) slide saw Ethereum fall below its key support level of $1,000 and Bitcoin fall...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Buy Crypto
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

No Result
View All Result
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.