INDIA : THE LARGEST CRYPTO MARKET IN FUTURE

 India will be The Largest Crypto-Market in near future.

It’s amazing how much things have changed in a year. 

In March 2020, The Supreme Court had abolish the RBI circular  that stopped banks from providing services to cryptocurrency exchanges. India has changed it's mind set very dramatically.

Now, Young investors in tier 2 and 3 cities, who don’t understand much about the stock market, have taken  to virtual currencies such as Bitcoin, Ethereum, Cardano and $Shiba. According to Industry estimates there are 15 million to 20 million crypto investors in India, with total crypto holdings ofaround 400 billion rupees ($5.33 billion). For CoinSwitch Kuber, which recently became a unicorn, the average age of over 11 million users is 25 years. And 55% of its users are based in large cities like Delhi and Mumbai. For CoinDCX, the other crypto unicorn, 75% of its investors are aged between 20 and 34 years.Now a days, you switch on any Television Channel  and you see ads showing Bitcoin as a great investment instrument. Top Bollywood actors, Ranveer Singh to Ayushmann Khurrana, are seen promoting CoinSwitch Kuber and CoinDCX respectively. Bollywood actors are launching their non-fungible tokens or NFTs, 

which are bought and sold using cryptocurrencies. As per a report, over 10 million crypto investors were added by India in 2021. 

Lot's of Global Player in Crypto are waiting to enter into this largest Market. One Singapore-based largest virtual currency exchange Coinstore has begun operations in India in India at a time when the government is preparing legislation to effectively bar most private cryptocurrencies. In an interview Mr.Charles Tan, head of marketing at Coinstore told ," With nearly a quarter of our total active users coming from India, it made sense for us to expand into the market," Mr. Tan also said, "Coinstore plans to recruit about 100 employees in India and spend $20 million for marketing, hiring and development of crypto-related products and services for the Indian market. Coinstore is the second global exchange to enter India in  recent months, following in the footsteps of CrossTower which launched its local unit in  September this year.

What is CRYPTOCURRENCY ?

Cryptocurrency

Cryptocurrency is a digital payment maintained by a network of computers that uses cryptography to authenticate transactions. 

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network.

Blockchains, which are organizational methods for ensuring the integrity of transactional data, are an essential component of many cryptocurrencies.

Popular CRYPTOCURRENCY 

Cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.

Cryptocurrencies are systems that allow for secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions.