In India the young generation are heavily attractive into crypto trading.
A growing number of Indians have put money into cryptocurrencies in the past year. Last year. From last year crypto assets have increased from $200 million to almost $40 Billion, Blomberg reported, quoting blockchain forensics firm Chainalysis.
And the big reason is also a Covid -19 Pandemic because of pandemic the in India most of the people are lost their jobs in all of the sector and they move to trading for their financial support and when they start trading, they think also about the cryptocurrency which is make highly profitable business for them.
They make high profit in less of time and that's the big reason why most of the people of India is attractive to the industry, But the numbers of the young age people grater than others whose highly attractive to the Bitcoin or Cryptocurrency.
Over 15 million Indians have been buying and selling cryptos, the publication added, in disregard of a proposed ban on coin trading. Their number is approaching the 23 million crypto traders in the U.S. and far exceeds the U.K.’s 2.3 million active traders.
If we talk about the best investment plan for Indian people mostly of them is feel safe and good to invest in GOLD but in few months the thinking of the people is changed, you know India has household own an estimated 25,000 tons of this precious metal. But from the latest data which is comes from the World Gold Council has reports shows that the people between 15 to 34 is highly attractive to the crypto against the GOLD which is the priority of the older Indians.
In the last 12 months alone, daily crypto trading values have shot up to the 900%, which is reveals by the report. At the same time, India is yet to adopt comprehensive regulations for the expanding crypto space, and the lack of clarity has likely put off many potential investors and traders.
In 2018, the Reserve Bank of India issued a circular which banned financial institutions from providing services to crypto businesses. In the starting of this year the RBI advised to the banks that the instruction was no longer valid, citing a year-old ruling from the Supreme Court.
But at the current time Indian people's need that the Government of India is to make a Law to regulate the Cryptocurrency as assets and the traders freely trade in this sector but we don't know at that time why Indian banks are not supporting exchanges and the local trader and this is the big problem is occurred in few months by the banks they shut down the accounts of the local person and exchanges suddenly without tells a valid reason, so that's why Indian people need government to take a stance for the Indian people. They need very much....
But apart from this if you want to invest into the crypto so first never go with the emotions, use your mind, done all searches before invest in any coin always check the market properly, time-to-time and never take loan money to invest in the market because you don't know about the future if market goes up its really good for you but think if the market goes down how you pay the debt, so think first all the aspect before invest in crypto industry....
Good Luck........👍👍👍👍
