200,000/Monthly New Bitcoin Users and Price Pushes $20700 in India as Bubble FUD Recedes!
If you are a Bitcoin HODLer from India you should be celebrating right about now. At the time this post goes live Bitcoin is trading around $17500 in many markets but we're about $2K higher in India. We hit a high of high of $20761 on CoinSecure, an Indian Bitcoin exchange.
Despite warnings from the central bank, Indian users remain unfazed by FUDing surrounding the world's favourite cryptocurrency. Zebpay is the current market leader when it comes to market share for all Bitcoin transactions at roughly 50%. They are adding thousands of new users everyday.
With over 2 million users trading bitcoin in India the market is growing at a brisk pace. As the price continues to grow, Indian interest in various cryptocurrencies including Steem is increasing at a rapid rate. The total trade from India is now a little over $3 Billion dollars annually.
Demonetisation sparked a major change in investor's attitude in India. It forced many (myself included), to look at newer options to save their money and Bitcoin overnight became a great store of value and speculative asset in India.
I have so many friends asking me on and off Facebook about Bitcoin, Steemit and other cryptocurrencies that I generally post about on my wall. There's a lot of Bitcoin in the news in India today. Even as many thwart users from investing in Bitcoin, it has barely slowed people down and left most to invest with due diligence of their own.
Bitcoin exchanges from India operate with complete transparency. They have to adhere to the KYC laws in the country and so far there hasn't been any issue with the government.
India is currently adding a little over 200,000 new Bitcoin users on a monthly basis. According to a couple of trade analysts that I spoke to recently, they are expecting these numbers to grow at a healthy pace in the next few months.
For majority of crypto users from India, Bitcoin is the gateway to the world of cryptocurrencies. There are many Bitcoin exchanges here but few alt-coin trading portals and that has resulted in a great demand from India for Bitcoin over other cryptocurrency. I would love to see an exchange for Steem and SBD in India in the future!
If you are a Bitcoin user from India, my article on filing your returns on your Bitcoin profits will interest you a lot! Read it here!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- India Has The Highest Number of Facebook Users In The World—What Does It Mean For Steemit?
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Let's Talk—How Did you Discover Steemit.com?
This is just the beginning of history
Ob Die Geschichte gut ausgeht ist Fraglich???
Es geht zu schnell!!
This is exactly why the current Bitcoin Bubble is making the dot com bubble look small in comparison: Suddenly a whole new world of people are able to join in and invest from all around the globe, something that was not yet feasible years ago. Add the fact that the way into bitcoin is much easier for most than the way into stocks and boom there you go :)
Exciting times ahead as all this new money finds its way to different corners of the crypto-space!
I agree! Times are changing and I hope mass adoption happens within a decade. :)
The news of RBI warning Bitcoin looks like worked in favor.
More and more people have gained interest and are looking for ways to invest. I was travelling to the insides of Haryana over the weekend and someone in train asked if I've heard about Bitcoin. Quite amazed at first I shared the lil knowledge I've on topic. Hope the guy makes money and pass on few blessings
Well , I experienced something similar in Jodhpur, Rajasthan.
A young tour guide was talking about the Bitcoin and it's rapid price hike.
It's amazing to see this change in the span of few months
It's catching up really fast. Soon we would have to put option of Bitcoin accepted similar to Paytm ones
Haha well said friend. In few day bitcoin will replace modi mania. Bitcoin mania.
Gujju Bhai is smart just wish they don't do anything similar to what China did.
Initial collapse raised a few queries but then it picked quite well
Je bekannter desto größer die Blase sollte sie Zerbrechen!´
smart people, when the govt said dont buy gold they bought in bulk.
I am really curious why and when would people file tax returns over bitcoin "profits" ? I am not in India, but this is on my mind when something like a centralized power is discussed. My view is that there is no profit made so there can't be a question of tax returns .. Would you file tax returns ?
over 20 k I love it
Central banks keep warning about what? 😂 given the recent crypto gains it’s pretty clear that nobody all around the world cares about banks anymore
The dreams of abundance, prosperity and freedom for all are slowly but surely materializing! What a great time to be alive!
After the launch of bitcoin futures, only foolish government will dare to ban Bitcoins..Indian government is very smart and will not to ban it.
The power of the blockchain will always be here because this is the future. I heard that India will also be having its own crypto the same way china and japan did. It's called rupee.
wow I envy you guys. You must be smiling when you had HODL many haha, btc is really unstoppable... hoping international exchanges follows too.