Decoded | What is driving desire for cryptocurrencies in India

Cryptocurrency adoption has quickly attained momentum in India inspite of uncertainty around the long term of the unregulated digital asset. Investments in cryptocurrencies, specially Bitcoin, has registered a spectacular increase in India considering the fact that 2020.

Knowledge from a number of domestic cryptocurrency exchanges suggest that tens of millions of retail investors have signed up on their portals to spend in cryptocurrencies — an asset class recognized for notorious volatility and probable to produce significant returns.

At least 1.5 crore Indians have invested in cryptocurrencies, signalling robust cryptocurrency progress in a nation wherever homes are acknowledged to devote additional routinely in gold and other safer belongings. The growing quantity of crypto adopters also indicates a shift in the expense paradigm, driven mostly by the country’s more youthful population.

Defined: The good, undesirable and hideous of investing in cryptocurrencies


Much more Indians commenced investing in cryptocurrencies from 2020 as the Covid-19 pandemic led to a world wide economic disaster, resulting in larger volatility and depreciation in standard belongings like currencies, bonds and equities. As a end result, a lot more folks all over the globe started investing in cryptocurrencies.

This resulted in a sharp increase in crypto valuations all over 2020, led by well-liked digital cash like Bitcoin (BTC) and Ether (ETH).

In India, cryptocurrency investments grew from approximately $923 million in April 2020 to a whopping $6.6 billion in May 2021. India ranks 11th out of 154 nations in conditions

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