Everything You Need To Know About Crypto Market In India
Cryptocurrency is growing in popularity and it has been receiving a worldwide acknowledgement. In this growing crypto market across the world, one such booming industry it shows potential to opportunities is in India — home to 1.3 billion people. The second-largest population in the world shows the potential and opportunities it could create in the cryptocurrency market.
Now a cryptocurrency market is a place based through the medium of digital currency that exchanges the financial transactions, in here, crypto with another crypto or fiat. Since it is a decentralized technology that is based on blockchain, there are many speculations surrounding the regulations and governance of the currency across the world. India too is in the position of uncertainty with the legality and application of cryptocurrency.
In this blog, we are going to discuss Everything You Need To Know About Crypto Market In India:
- Universal Market Place
Cryptocurrency is a decentralized distributed ledger that functions uniformly across the world — it is a universal market place. Everyone across the globe can participate and benefit from the cryptocurrency market. However, it is important to note that the price of a cryptocurrency may vary as per the liquidity of the various crypto exchanges. Saying that, cryptocurrency works round the clock, you could make your trading at any given point of time from anywhere to anyone and participate in this global phenomenon.
Also Read, The Legalization Of Cryptocurrency In India — Things You Need To Know
2. Opportunity Created By Cryptocurrency
COVID-19 affected the downtime of the global economic status, thus, in the same environment, unlike many traditional investment approaches, cryptocurrency witnessed potential stability and growth with its all-time-high. Bitcoin swinging on its all-time-high with an approximate of $32,000, followed by Ethereum $1,200.
On the other hand, India’s waiver on the ban of the cryptocurrency by the Supreme Court led to an experience of the exponential growth of participation in the Indian crypto market. It also spiked the trading volumes, opportunities, growth and created an impact globally with its share in the crypto market.
