Rich rewards often entail great risks, and the same does work with the highly volatile cryptocurrency market. The concerns in 2020 globally led to a greater interest of masses and large institutional investors in trading cryptocurrencies, a new-age asset class. Increasing digitization, flexible regulatory framework, and great court lifting ban on banks dealing with crypto-based companies have parked investments of more than 10 million Indians within the last few year. Several major global cryptocurrency deals are make an effort to trying to find the Indian crypto market, which has been showing a sustained tremendous increase in daily trading volume over the past year in the course of a big drop in prices as many investors looked at value buying. As the cryptocurrency frenzy continues, many new cryptocurrency deals have come up in the country that permits buying, selling, and trading by offering functionality through user-friendly applications. WazirX, India's biggest cryptocurrency trading platform doubled its users collected from one of million to two million between Jan and Goal 2021.

What's Driving World's Largest Crypto Deals to the Indian market?
In 2019, the world's largest cryptocurrency exchange by trade volume, Binance acquired the Indian trade platform, WazirX. Another crypto start up, Coin DCX secured investment from Seychelles-based BitMEX and San-Francisco based-giant Coinbase. The crypto and blockchain start-ups in Of india have attracted investment of USD99. 7 million by Summer 15, 2021, which totaled around USD95. 4 million in 2020. Within the last few five years, global investment in the Indian crypto market has increased by a monstrous 1487%.

Despite India's unclear policy, global investors are making huge proposition wagers on the country's digital coin ecosystem due to a variety of factors such as

• Tech-savvy Indian Population
The main population of 1. 39 billion are young (median age between 28 and 29 years) and tech-savvy. While the older generation still wants to invest in gold, real estate, patents, or equities, the newer ones are enjoying the high-risk cryptocurrency deals as they are more adaptable to them. ledger Live Of india ranks 11th on Chainalysis's 2020 report listing for global usage of crypto, which shows the excitement about crypto among the Indian population. Nor does the less-than-friendly attitude of the government towards crypto or rumors circulating around the crypto are able to shake the confidence of the youth population in the digital coin market.

Of india offers the cheapest internet in the world, where one gigabyte of mobile data costs around $0. 26 while the global average is $8. 53. So, almost half the billion users are taking advantage of affordable internet access, which enhances India's potential to become one of the largest crypto economies in the world. According to SimilarWeb, the country is the second-largest source of web traffic to peer-to-peer bitcoin trading platform, Paxful. While the mainstream economy is still struggling from the "pandemic effect", cryptocurrency is gaining momentum in the country as it increases the young generation a new and fast way of earning money.

It is safe to say that cryptocurrency might become Indian millennials what gold is for their parents!

• Rise of Fintech Start ups
The cryptocurrency phenomenon led to the emergence of multiple trading platforms such as WazirX, CoinSwitch, CoinDCX, ZebPay, Unocoin, and others. These cryptocurrency exchange platforms are highly secured, accessible across various platforms, and let instant transactions, providing a friendly vent for crypto enthusiasts to buy, sell, or trade digital assets limitlessly. Many of these platforms accept INR for purchases and trading fees as far as 0. 1% so simple, fast, and secure platforms present a lucrative chance for both first-time investors and local traders.

WazirX is one of the leading cryptocurrency exchange platforms with over 900, 000 users that provides customers with peer-to-peer transaction capabilities. CoinSwitch Kuber increases the best cryptocurrency exchange platform for Indians and is perfect for beginners as well as daily doers. Unocoin is one of the most well-known cryptocurrency exchange platforms in Of india that be aware of over a million traders through mobile applications. CoinDCX provides users with 100+ cryptocurrencies as an substitute for make deals and even provides investors with insurance to cover losses in case of a security breach. So, global investors are eyeing the plethora of cryptocurrency exchange platforms in Of india to take advantage of the emerging market.

• Mixed Government Response
The legislative bill regarding a ban against a virtual currency that would criminalize anyone engaged in control, issuance, mining, trading, and transferring crypto assets may get enacted into law. However, Finance and Corporate Affair Minister Nirmala Sitharaman eased some investor's concerns saying that the government hasn't already planned to fully bar cryptocurrency use. In a statement provided to a leading English newspaper, Deccan Herald, the Finance Minister said, "From our side, we are obvious that we are not shutting all options. We will allow certain windows for people to do experiments on the blockchain, bitcoins, or cryptocurrency. inches It is evident that the government is still examining the national security risks posed by cryptocurrencies before deciding on putting a complete ban.

In Goal 2020, the Great court overturned the central bank's decision to ban financial institutions from dealing in cryptocurrencies, which advised investors to stack into the cryptocurrency market. Despite the constant fear of ban, transaction quantities of prints continued to swell, and user registration and money inflows at local crypto-exchange became 30-fold from a year ago. One of India's most well-known deals, Unocoin added 20, 000 users in Jan and February of 2021. The whole volume of Zebpay per day of Feb . 2021 got equivalent to the quantity generated in the whole month of Feb . 2020. Addressing the cryptocurrency scenario in Of india, the Finance Minister said in a CNBC-TV18 interview, "I can only give you this hint that we are not closing our minds, we will be looking at ways in which experiments can happen in the digital world and cryptocurrency. inches

Rather than sitting on the side-lines, investors and stakeholders want to make the best of proliferating the digital coin ecosystem so that the government brings out the ban on "private" cryptocurrency and announced sovereign digital currency.

Is Of india Heading Towards Financial Inclusivity with Cryptocurrency?
Once considered a "Boys club" due to main male population activation in the cryptocurrency market, the steadily rising number of women investors and traders has led to more gender neutrality in the new and digital form of investment methods. Earlier, women used to stick to traditional investments but now they are becoming risk-takers and venturing out into the crypto space in Of india. After the apex court clarified the legality of "virtual currency", the Indian cryptocurrency platform, CoinSwitch witnessed an exponential 1000% increase in its women users. Although women investors still make up a small percentage of the crypto community, they are putting up fierce competition in the Indian market. Women tend to save a lot more than their male counterparts and more savings means more diversity in investments such as high-return assets like cryptocurrencies. Also, women are more analytical and better at evaluating risks before making the right investment choices, so one of these are more successful investors.