Cryptocurrencies in India: Explosive Growth
India has taken giant strides in trading in cryptocurrencies. Young technology-empowered Indians, bullish on long-term prospects of cryptocurrencies, are fuelling this drive. Upcoming regulations and introduction of a sovereign digital currency will influence future growth. India is riding high on cryptocurrencies with exponential increase in trading in these currencies and their ownership. Some of the key facts on the cryptocurrency boom in India are as follows. · There are around 10 crore (100 million) crypto owners in India . This makes it the country with the largest crypto owners in the world followed by the United States ([US] 2.7 crore or 27 million), Russia (1.7 crore or 17 million) and Nigeria (1.3 crore or 13 million). The high incidence of crypto owners in India is evident from their number being more than thrice that of the US and nearly six times that of Russia. · ...
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