Why not cryptocurrency for middle-class people in India?
It was 2016 when the buzz was crossing the wall for discussion of Crpytocurrney in India. Suddenly, investors were looking for a legal consultancy to withdraw their money as Govt signaled to ban the digital currency in India. In the meantime, crypto was growing like a child who became so adult till 2021 which is now out of the control of everyone. Cut to covid-19, and you see the shoot up in the digital startup lines where multiple companies founded like CoinDCX, CoinSwitch, ZebPay, WazirX, and many more. These companies raised funds on the basis of attracting more investment in crypto in India from middle-class families. Till then these well-funded companies could draw the attention of their target audience, Bitcoin, Ethereum and etc reached to the sky for buying them.
It is strange now that middle bread earner people are investing in crypto through these digital apps. But now it seems like buying bread small cut of blockchain-based crypto to get more profit. A few months back, there was a discussion that the central govt to launch their own digital currency in India to get the same profit.
Now two things happened till 2021, First that digital assets became so expensive that investing became riskier and Volatility became more intense. Second, now govt is also planning to launch a regulated digital currency that was planning to ban. You can laugh here, why I tell you because It seems India played a key role in spiking up the cryptocurrency market in India by indicating banning it.
Many times you may be heard one line, investing in digital currency is risky and non-regulated. So please be aware of investing!!!