Cryptocurrency is revealing itself to be functioning and thriving in the field of the economy. Many countries have adopted this new system as an exchange for things after they have shopped or even exchange buying and selling activities. This has further encouraged many countries to practice cryptocurrency that has also converted into real money.
Today, the cryptocurrency industry is undoubtedly huge. Over the past decade, crypto has become immensely popular as an investment option and alternative currency. But the use of cryptocurrency isn’t the same across the world. Some countries don’t allow crypto at all, while others have built a huge industry from it. So, which countries are currently using crypto the most? Some of the countries that massively use cryptocurrency are the USA, China, Japan, Nigeria, Ukraine, El Salvador, Peru, The UK, at the moment India has also been catching up with it.
The rise of cryptocurrencies in India:
The rise of these central bank digital currencies, or CBDCs, essentially virtual versions of currencies backed by the state, will be a major push towards hastening the demise of cash.
Eswar S. Prasad, author of the book “Future of Money” delves into lucidly in his book on how the digital revolution is transforming currencies and finance.
India has seen the peak time of success that crypto coin has delivered over the years, it has been very robust and delivered massive growth in the economy. Ever since March 2020 when the Supreme Court overturned the Reserve Bank of India’s 2018 circular which effectively had banned cryptocurrencies in India, women’s participation and adoption of crypto has surged dramatically.
What drives investors to invest in Crypto?
If you are planning to buy cryptocurrency in India it is important to understand the journey that it has led in the past. Among all of the ways, one of the ways in which crypto has seen its highest transactions and exchange of coins is when top artists and celebrities raise its importance through a tweet. Top artists/ celebrities, such as Elon Musk, Snoop Dogg, Kanye West, and many more. Their activities in relation to crypto coins and investments have been actively shown on social media platforms to lure the general public into investing in cryptocurrencies.
The price of cryptocurrencies in India:
There are about 6000+ coins in India, and each of them produces a massive result and defines better results in no time. The value of coins determines itself by the volatility in the market. There are chances that these coins can deliver different results according to the volatility of the market. Some coins have a different market range but time in again you will see their volatility rate higher and according to the structure of the economy. If you’re looking for something to start investing in, out of the many currencies it is best advisable to invest in LTC. LTC also called Litecoin in India is vastly growing the blockchain environment. Litecoin has always been viewed as a reaction to Bitcoin. Litecoin has many of the same features as Bitcoin, while also adapting and changing some other aspects that the development team felt could be improved. The current LTC to INR price is ₹11,187. Though it might be a little above your range you will soon see rewards financially sooner than expected.