Digital Currencies Gaining Popularity in India's Major Cities
Last weekend in Mumbai, digital currency enthusiast Vishal Gupta gave out free dogecoin to the 45 participants that showed up to his monthly meet-up. At least half of the attendees at this event were fresh faces, just getting introduced to the cryptocurrency ecosystem. "The point of giving out free dogecoin is to get people comfortable with the idea of using digital currency," said Gupta. This event was organised by BitterCo.in, Gupta's news and analysis website. It was held at Kolonial, Mumbai's first restaurant to accept bitcoin. The restaurant's owner Tarun Thadani was also in....
Related News
India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency. RBI Says Crypto Has Gained Popularity, Exploring Digital Rupee India’s central bank published a “Booklet on Payment Systems” on Monday with a section on central bank digital currencies (CBDCs). The document covers “the journey of payment and settlement....
The launch of an India-focused digital currency, Laxmicoin, has been suspended by its co-founders, following the Reserve Bank of India's (RBI) raids on bitcoin exchanges in December last year. While some bitcoin exchanges are once again operating and digital currencies are gaining traction in major Indian cities, Laxmicoin founders Mitts Daki and Raj Dangi say they are adamant about not moving forward with the launch of their new currency until the RBI gives them the green light. Daki, who is based in Silicon Valley, revealed that one of the reasons for the suspension is that some of the....
Cryptocurrency has secured immense popularity across the globe. The increase in popularity of crypto, however, cannot be interpreted as increase in awareness about the same. India has been fascinated with the industry despite all the uncertainties in regulatory framework that continues to exist. As popularity grew, so did scams and other fraudulent practices related to […]
According to a local media source, crypto trading in India is on the rise. This comes as the Indian government is mulling over a ban on private digital currencies, which they say is necessary to protect investors. But, based on the rising popularity of local crypto exchanges, it appears that people remain unfazed. India Proposes […]
Cryptocurrency usage and trading are experiencing a boom in India, and most of this growth is coming from small cities. According to reports from local exchanges, the growth has been exponential. The profile of these new participants has also been interesting, as they are highly educated, not only focused just on bitcoin, and are open to diversifying their portfolios with more exotic offerings.
Crypto Grows in India’s Small Cities
Cryptocurrency usage and trading are being embraced by Indian citizens as a way of investing and gaining additional money after the Covid-19....