Important India: Bitcoin is Used Mostly for Speculation While Government Lacks Focus
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WHAT IS BITXOXO -ew company, Bitxoxo launches, providing the public with the best bitcoin exchange services available in India. Bitxoxo.com is the first bitcoin exchange company offering customers a guaranteed 24/7 customer support and a 0% exchange fee. The company is the world’s first company to launch Bitcoin Physical Gift Cards which can be delivered worldwide in near future. Right now they are shipping in India only. Bitxoxo.com has a lot of firsts, as it is also the first bitcoin exchange company in India to pay salary of its employees in bitcoin.
WHAT IS BTC-Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.
Bitcoin is of interest to law enforcement agencies, tax authorities, and legal regulators, all of which are trying to understand how the cryptocurrency fits into existing frameworks. The legality of your bitcoin activities will depend on who you are, where you live, and what you are doing with it
MAIN NEWS--
Bitcoin users growth
Acclaimed fastest growing Bitcoin exchange in India, Bitxoxo has reached a milestone of 100,000 users on its platform.
Elaborating on the growth, Hesham Rehman co-Founder & CEO, Bitxoxo says,
“We have been relentlessly working towards creating awareness around Bitcoin investments. India is very much ready to accept a currency revolution as it is moving towards technology acceptance. This will be one more stud to the same portfolio. The growing number of users reflects that Bitcoin is gaining popularity and trust. We are sure figures are further going to climb up.”
Gaurav notes that Bitcoin and other cryptocurrencies are used by Indians mostly for speculation and money making.
Gaurav explains that in India, betting or any kind of investment that is not regulated is illegal. India as a nation has capital controls, so the finance ministry will discourage the use of digital currencies.
SOURCE --https://cointelegraph.com/news/india-bitcoin-is-used-mostly-for-speculation-while-government-lacks-focus
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