In just one year, investment in cryptocurrencies in India increased to 40 40 billion

Investment in crypto increased despite the government's vague policy

Gold priests in India invested 20 200 million in Bitcoin last year: Bitcoin jumps from 5,000 to the bottom

MUMBAI: Precious metal gold has always been a source of choice for Indians to invest in. However, with the passage of time, gold seems to be being replaced by cryptocurrencies. Despite a ban on buying and selling cryptocurrencies in India, investment in cryptocurrencies by Indians has doubled in the last one year.

The world market for cryptocurrencies saw a rapid rise today with falling prices. The declining headlines were indications of a new buying market. Bitcoin prices, which had dropped to a low of હજાર 30,000, bounced back from a high of હજાર 35,000 today to 28 35,286 to 35 35,287 to 34 34,377 to 3 34,378.

Bitcoin traded between 32 32 billion and 33 33 billion today, and the market cap, which fell from 600 600 billion to 4 574 billion to ડો 575 billion, jumped back to 600 600 billion and reached 4 644 billion to બજાર 645 billion today, market sources said.

More than 25,000 tonnes of gold is lying in the homes of Indian families. However now people are attracted to invest in cryptocurrency. According to a research report, Indians' investment in cryptocurrencies has increased from 20 200 million to 40 40 billion in the last one year. However India's central bank is not happy with the growing attractiveness of cryptocurrency and has banned its trading.

Richie Sood, a 32-year-old woman, is among the investors who have started investing in cryptocurrencies instead of gold. He has invested more than Rs 10 lakh since December last year.

Some of it he borrowed from his father. He has mainly invested in Bitcoin, Dogcoin and Ether. They have also found increased profits from investing in cryptocurrencies. He made huge profits in February this year when the price of Bitcoin soared to તેમણે 50,000.

Of course after the recent major correction he has re-invested in Bitcoin. This has helped them a lot in expanding their business. Cryptocurrencies are more transparent than gold and property and offer higher returns in the short term, investment experts say.

There are currently over 1.5 crore investors in India who are trading in digital coins. There are 23 million cryptocurrency investors in the United States and 2.3 million in the UK. Thus, the number of Indian investors investing in cryptocurrencies could soon reach the US.

According to the founder of the first cryptocurrency exchange in India, people between the ages of 18 and 35 are showing the most interest in investing in cryptocurrencies. A new report by the World Gold Council has found that people under the age of 34 in India want to invest less in gold than the elderly.

One of the biggest obstacles to the widespread acceptability of cryptocurrencies is regulatory uncertainty. Last year, the Supreme Court overturned the 2018 ban on cryptocurrency trading by banking institutions, which has led to a sharp rise in crypto trading in India.

The central bank said there were major concerns about allowing cryptocurrency trading and that six months ago the Indian government had proposed a ban on digital coin trading, although there was silence on the matter.

It is certain that the value of Indians' digital asset holdings has become a part of their gold market. According to Koinjiko, daily trading on the four largest crypto exchanges has risen to 10. 102 million from 1. 106 million a year ago. Increased trading in cryptocurrency by Indians is an indication of the ability to take risks.