Too little, too late for India in the field of cryptocurrency?
Saw this article: https://factordaily.com/altcoin-cryptocurrency-exchanges-in-india/
USA, China, Korea and Japan have led cryptocurrency adoption and trading. Finally, India might be catching up.
But there is a significant first mover advantage in this business since volumes matter. Not sure whether Indian exchanges will be commercially viable. Basically, it doesn't matter where you buy. You necessarily have to gravitate to the largest exchanges in order to get a good price if you want to trade.
I started with $200 a Hong Kong exchange 3 years ago on an experimental basis (I initially invested only $130). Now - after I've learnt many more things over the past few months - my holdings in the HK exchange are zero. Volumes are critical.
These currencies can be moved around the world in a matter of minutes (sometimes even hours - let's not be deceived by the "move in seconds" hype). So why would anyone provide custom to a low volume exchange?
Further, the larger exchanges are also more secure. They've been around for many years and have beefed up their security dramatically. New exchanges are are likely to be less secure.
If there's demand in India, someone will supply it. That said, they may be late to the game and have a slow start getting traction.
However, I expect increased interest in the east to be bullish overall.