Despite the pandemic disrupting the world’s economy on a larger scale, India seems to have gained higher crypto-user traffic over a period of two months.
India got its crypto freedom on the 4th of March, 2020, when the Supreme Court of India lifted the ban on cryptocurrency trading. After that, an eclectic drive of cryptocurrency trading volume, contributed especially by the Indian users.
Recently, due to the Bitcoin halving process, the market has been high on volatility. Bitcoin recently touched the $10,000 mark, which made it one of the highest performing assets at this time. Some of the cryptocurrency trading platforms like Cashaa saw a growth of 800% in their trading volume post the ban lifting decision. Buy BTC in India at the best rate.
Let us check what the future of Bitcoin in India might look like:
The Indian cryptizens can now purchase cryptocurrencies with the Indian rupee directly, with the crypto exchanges’ help. We can expect more active trading, which can ignite a crypto revolution.
As per a study by Paxful, 78.5% of the survey respondents believe that traditional finance is corrupt, and 64.8% believe this is the best way to achieve financial freedom.
Not only that, but this will also lead to great employment opportunities with regards to blockchain technology and cryptography.
India is home to around 1.3 billion people, where employment is a huge concern. According to a survey by Paxful, 43.50% of respondents believe that this crypto independence would lead to an increase in jobs and entrepreneurial opportunities.
India’s crypto volumes are increasing every week as more and more people are showing interest in virtual currencies. Due to COVID 19, most of the places are under lockdown, proving to be a contributing factor to the ever-rising crypto trading volume in India. You can convert INR to BTC at the best rate here.
FAQs on the Future of Bitcoin in India
What will happen to Bitcoin in 2021?
Bitcoin is growing to be one of the top-performing assets ever.
What will BTC be Worth in 2021?
By the end of 2021, BTC might grow high in value and reach around $23,000.
Does Bitcoin Have a Future?
Yes, Bitcoin has an effective roadmap and fulfilling more than its intended timeline.
Will Bitcoin rise Again in 2021?
Yes, it recently rose to $10,000, and now, after the halving process, it is expected to rise more.
Is Bitcoin Banned in India?
No, Bitcoin is legal in India. You can buy Bitcoin and many cryptocurrencies in India by going here.
Is There Any Future of Cryptocurrency?
Yes, India is a land full of crypto enthusiasts and blooming opportunities for the crypto industry to flourish.
Is it Good to Invest in Cryptocurrency in India?
Yes, you can be transparent with your transactions if you invest in cryptocurrency in India.
KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.