The use of Cryptocurrency in India is increasing rapidly and is no longer limited to metropolitan towns only. From small towns to big cities, the popularity of digital currency has increased significantly. According to a report, the trend of Crypto has increased in small towns from Botad in Gujarat to Barabka and Jalandhar in Assam. Especially people under 35 years of age are actively investing in this space.
Fast growing trend of Cryptocurrency in India
Balaji Srihari, Vice President of Coinswitch Republic of India, said, “First Cryptocurrency The use of mobile phones was limited only to metropolitan cities, but now it is spreading rapidly in small towns also.” He further said that currently more than 2 crore people in India use mobile phones. crypto Most of whom are young investors. This indicates that investors are increasingly trending towards digital assets, such as Meme Coin, Bitcoin, Ethereum and Defi Token.
However, the Government of India Cryptocurrency But strict monitoring and strictness is being maintained. Cryptocurrency Along with levy of tax, 1% TDS is also being levied on transactions above Rs 50,000 annually. Despite this, Indian investors are showing their active participation in crypto exchanges. Especially, people are getting huge attraction towards Meme Coin like Shib.
crypto A positive environment was seen when former US President Donald Trump gave his support to crypto. After Trump became President, Paul Actins was appointed head of the SEC, which led to an increase in the use of crypto.
Bitcoin has given a spectacular return of 144% in 2024 and it is now considered to be one-tenth of gold. Coinswitch Co-Founder Ashish Singhal also described this development as positive and said that Bitcoin Trump’s support will prove beneficial for the development of the crypto space.
Conclusion
Overall, in India Cryptocurrency The future looks bright and its popularity among the youth is continuously increasing. Despite the strictness of the government, the active participation of Indians in Cryptocurrency and the increasing demand is making it even stronger.
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