Is Indian cryptomarket vaster than that of the United States?
The twisted tale of cryptocurrencies in India keeps getting tricky with the central government and the central bank mounting hurdles in its way but it continues to fascinate several people in India.
Among eight global players in the cryptomarket, buying intentions of cryptocurrency was highest among Indians in the last six months.
India ahead of Brazil and USA:
India beat the likes of the United States and Brazil with 6 per cent of share to be the highest in terms of a number of people who wanted to invest in virtual currencies.
The nation has over 7 per cent of people owning cryptocurrencies like Bitcoin, Ethereum, Ripple etc. Japan topped the list with 11 per cent of its citizens owning cryptocurrencies.
The survey conducted by Dalia Research, titled Global Cryptocurrency Survey that was released in May 2018 had also highlighted that India stands at the fourth place after Japan, the United Kingdom and the United States in people owning cryptocurrencies.
29,000 respondents were sampled for the survey which also proved that India lags behind when it comes to awareness about cryptocurrencies.
India stands at the sixth spot here with Japan and Korea on the top.
Interesting this report has come at a moment when the future about the digital currencies remains gloomy.
After RBI released a circular instructing its banks to suspend its ties with cryptocurrency exchange houses, people started an online campaign #isupportcrypto.
The movement has gained popularity and hopeful people are eyeing a decision reversal by the Reserve Bank of India.