The Indian crypto market is one of the fastest growing in the world, with a boost from institutional investors. This has led to an increase in demand for blockchain developers and other professionals working in the sector.
The future of cryptocurrency 2021 is a question that has been asked in the Indian crypto investment. There has been an increase in interest with the value of cryptocurrencies increasing by nearly 19,900% over the past year.
- Over the last year, Indian crypto investment has increased by almost 19,900%.
- Chanalysis assesses the amount of money invested in cryptocurrencies in India.
- Richi Sood has put almost $13,000 into crypto assets.
Regardless of India’s unclear regulatory environment when it comes to crypto assets. Investments in crypto assets have risen almost 19,900% in the last year throughout the country.
Furthermore, according to data from Chainalysis, a blockchain analytics company, cryptocurrency investment has increased in mid-2020 before becoming parabolic as markets flood into new all-time highs (ATH) towards the conclusion of the fourth quarter.
As a result, Chainalysis, a blockchain analytics company, analyzes the amount invested in bitcoin in India. In the previous year, it grew from $200 million to $40 billion. Furthermore, according to Chainalysis, 15 million Indians are exposed to cryptocurrencies.
The Chainalysis data, in particular, shows the positive effect of the Indian Supreme Court’s March 2020 decision. And the decision to reverse the prohibition imposed by the Reserve Bank of India. On financial organizations that provide banking services to crypto asset marketplaces.
Furthermore, the Supreme Court’s decision to overturn the RBI’s prohibition in March would not be easy for India’s crypto businesses. Over the past 15 months, legislators have enacted scary new laws prohibiting digital assets.
Sandeep Goenka, the co-founder of local exchange Zebpay, said, “The determined frightens of a fresh regulatory crackdown.”
“Because the procedure is so easy, many find it much simpler to invest in crypto than gold. You go online and purchase crypto; unlike gold, you don’t have to authenticate it.”
Richi Sood, a 32-year-old local entrepreneur, has also shifted his focus from gold to cryptocurrencies. Richi Sood has put almost $13,000 into crypto assets since December.
“I’d rather put my money in crypto than gold,” Richi Sood said. Cryptocurrency is more transparent than gold or real estate, and it offers higher returns in a shorter period of time.”
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