More

    Cryptocurrency Fanatics are Betting Big on Bitcoin

    The cryptocurrency fanatics’ are betting Bitcoin is equivalent to digital gold and it seem to be winning converts among the world’s biggest holders of the precious metal.

    In India, where households own more than 25,000 tonnes of gold, investments in crypto grew from about $200 million to nearly $40 billion in the past year, according to Chainalysis. That’s despite outright hostility toward the asset class from the central bank and a proposed trading ban.

    According to recent reports growing number of Indians — now totalling more than 15 million — buying and selling digital coins. Cryptocurrency is catching up catching up with the 23 million traders of these assets in the U.S. and compares with just 2.3 million in the U.K.

    The growth in India is coming from the 18-35 year old cohort, says the co-founder of India’s first cryptocurrency exchange. Latest World Gold Council data indicated Indian adults under age 34 have less appetite for gold than older consumers.

    Meanwhile, The Financial Conduct Authority FCA has banned Binance.com is an online centralised exchange that offers users a range of financial products and services, including purchasing and trading a wide range of digital currencies, as well as digital wallets, futures, securities, savings accounts and even lending.

    Share

    Latest Updates

    Related Articles

    Now Go Karaoke with Apple Music Sing, Its New, Its Exciting

    Apple Music Sing has created excitement for karaoke enthusiasts. The Apple Music Sing, a...

    IND vs Bangladesh 2nd ODI Clash Today, Will India Capture its Lost Glory?

    Ind vs Bangladesh is a fight to watch today. The second One-Day International at...

    Its official, Divya Aggarwal is engaged to Apurva Padgaonkar

    Apurva Padgaonkar and Bigg Boss OTT winner Divya Aggarwal have made their relationship official....

    Brazil vs South Korea: Neymar dribbles his magic in Brazil’s 4-1 win

    Brazil vs South Korea was a spectacular knockout match to watch and the Brazilian...