Cryptocurrency in India has received a favorable response from investors. However, the Reserve Bank of India isn’t too fond of this new age digital currency. A Germany based firm presented their research with some interesting facts about Indian investors in the crypto ecosystem. The study revealed that the purchase intention of the digital asset was highest in Indians as compared to other major players in the market.
According to New Indian Express, the survey unveiled in May this year was titled as Global Cryptocurrency Survey. It was conducted by German research firm Dalia Research. The agency unveiled an interesting fact that Indian stands fourth in the list after Japan, United Kingdom, and the United States in the list. A total of 29,000 participants were included in the survey.
However, the results also indicated that there aren’t too many people who actually have knowledge of cryptocurrencies. But, there isn’t much of a difference in the male-female ratio when it comes to the possession of cryptocurrency in India.
Current Status Of Cryptocurrency In India
The news has popped in right when the RBI has imposed a ban on the transaction of virtual currency. It has been advised that all the financial institutions and banks prohibit any kind of services related to cryptocurrency in India. In the meantime, the investors are turning towards the exchanges located outside India for their businesses.
The investors in India are complaining about this non-accepting behavior of government. The crypto community in India believes that the government is failing to understand. This new age development of the crypto market is likely to bring huge investments. Indeed the technology is volatile and not complete stabilized in terms of theft and security concerns. However, there are several exchanges operating legally in many countries which have developed their own methods of firewalling and secure their operating systems.
Several South Asian and European countries have maintained a positive stance and allowed digital currency in some sectors.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]