Ever since India’s highest and most respectable court, the Supreme Court lifted the ban on cryptocurrencies in India, the country is seeing heightened interest in cryptocurrencies. As you read this article, India’s contribution to the entire cryptocurrency ecosystem is just 1%. However, experts predict that this is going to see a world of difference in the coming months. India, being one of the fastest growing economies in the world; interest for new and hot investment opportunities are often sought out by investors. In this article, we look at five reasons why investing in Bitcoins is slowly rising in India. We speak to some of the leading financial experts on India’s mysterious and volatile relationship with Crypto like Bitcoins.
5 Reasons Why investing in Bitcoins are going to rise in India
Lowering of Fees and Commissions by India’s Crypto Exchanges
The Indian social media community is one of the most vocal ones in the world. As soon as the Supreme Court lifted the ban, social media requests started pouring in to exchanges to reduce the fee structure.
The exchanges replied in the affirmative and did what would lead to an astonishing boost in Bitcoin investments Exchanges like WazirX and ZebPay have lowered their withdrawal and other commission structures to aid first time Indian investors.
The Coronavirus Pandemic has made investors look for other investment opportunities
While this point is something, which is true for the entire world, it assumes particular significance in the Indian context. In light of the global slowdown of the economy and the fragile nature of stocks and shares as investments, more and more Indian investors are looking at diversifying.
Bitcoin’s solid show amidst the pandemic has given Indian investors enough reasons to consider it as a safe and stable opportunity in the ongoing economic crisis.
Allowing for Bitcoin Trading in Indian Rupees (INR)
The lifting of the ban meant that exchanges started using INR to buy and sell Bitcoins with ease. If you had to trade in Bitcoins in India earlier, you had to go through many currency conversion loopholes and increased fees and commissions.
With INR, it has become easier for people to understand how crypto trading works. It has also become easier for exchanges to work with major volumes and money percentages. At the end of the day, INR has given Indian investors a lot of confidence to take to crypto investing.
An Easy, Legal and Hassle Free Buying Experience for Indian Investors
Investing in something, which the Courts and authorities deem illegal, is always risky. With the lifting of the ban, many people are coming out and are encouraging others to invest in crypto. The legality is probably one of the greatest sentiments fuelling interest and action.
Trading in Bitcoins, meaning buying and selling is as easy as depositing money and getting your Bitcoin. This simplified process was not there when cryptocurrencies were banned in the country. Exchanges are allowing the Instant Deposit Structure to promote a hassle free experience.
Uncertainty of Global Financial Markets post the Coronavirus Crisis
One special attribute of Indian investors, which sets them apart from their global counterparts is how well they read financial trends. The market right now is going to see an inflation rate, which has not ever been seen in recorded history.
According to financial experts, Indian investors realise that it is going to take at least two years for the markets and companies to bounce back. This means that for this period, they need to take up a new and alternative source of investment, which is stable, high value and credible.
Conclusion
People closely associated with the Indian crypto ecosystem feel that there is a lot of potential for growth. This is also a reason why more and more crypto exchanges are either setting up their base in India or are collaborating with Indian exchanges.
