Indians have less than 1 percent bit coins.
Bitcoin Investment Rise in 2020: The attraction of Indian investors towards cryptocurrencies like Bitcoin has also increased rapidly. In the last four years, it has given a strong return of 5759 per cent to the investors. On January 1, 2016, the price of a bitcoin was around Rs 28,820, which has increased to Rs 16,80,817 on December 22 this time. Talking about this year 2020, this year, investors have got 218 percent return from it. Earlier this year, on January 3, the price of a bitcoin was Rs 5,27,263. Investors expect that it will continue to grow even further. In such a situation, investment in it is increasing rapidly.
According to Zebpay, the country’s oldest and most commonly used bitcoin and crypto asset exchange, this year, its trading volume increased by 270 percent quarter-on-quarter in 2020 and the number of trading users grew by 218 percent. Apart from this, app downloads increased by 143 percent. Zebpay plans to introduce new services next year, under which investors will be able to invest in cryptocurrencies like Bitcoin through SIP as well.
You will also be able to invest in Bitcoin through SIP
According to ZebPay, next year in 2021, there may be an exponential growth in crypto. Zebpay plans to launch three new services next year. Under this, a new app Bitcoin will be launched, through which users will get the facility to invest in Bitcoin to millions of investors with just one click. Zebpay plans to launch Zebra tokens next year, through which a large market of crypto will open in front of investors. Zebpay also plans to start financial services like SIP, passive income and crypto borrowing based on its crypto holding next year.
Less than 1 percent of Bitcoin Indians have
The craze towards bitcoin is increasing around the world. Indians are also not untouched by this. In spite of this, less than one per cent of the bitcoins present in the world are with Indians. Zebpe has expressed hope that in the next year 2021, many institutions and government officials will recognize this, which will help reduce the bitcoin gap. Zebpe says that he will contact policymakers to prepare a healthy regulatory framework on bitcoin. The trend of Indian investors is now increasing to include it in their long term portfolio.
Supreme Court has given approval to cryptocurrency business
Two years ago, the central bank Reserve Bank of India (RBI) issued a circular on 6 April 2018 regarding cryptocurrency. Accordingly, the central bank was banned from providing any services related to cryptocurrencies to regulated entities. However, the issue went to the Supreme Court and in March 2020 this year the court rejected the ban imposed by the RBI on cryptocurrencies. As there are no set rules in India as of now regarding bitcoin and there are no regulations or guidelines related to it so that disputes can be settled in bitcoins transactions. Thus, the decision to invest in Bitcoin is entirely at the risk of investors.urce: www.financialexpress.com