Cryptocurrency Adoption in India is surging
Since March 2020, cryptocurrency adoption in India has surged by 30%. Crypto has become one of the most important asset classes in the recent decade. And, amongst the massive crypto bill run that happened during the pandemic, the price of cryptocurrencies like Bitcoin has surged by almost 400%. India has been swift in catching up with the global trend, and it is noteworthy that crypto adoption is getting considerable momentum in the Indian market.
According to ZebPay’s Chief Marketing Officer, India’s increasing crypto adoption can be attributed to several factors. One of the major reasons could be the hangover of the 2008 financial crisis. ZebPay’s CMO believes that the new generation of Investors are in a search of an asset class that can provide them with a store of value and greater returns; crypto is one such medium for them to store their wealth.
Although the Reserve Bank of India and Finance Ministry are at loggerheads about how to regulate cryptos. The new generation of Indians are on an innovative drive: creating software built of blockchain and introducing products that provide investors with a new asset class for investments. Along with Bitcoin, Ethereum, Ethereum, Ripple, and TRON are some popular cryptos in which the young generation of Indians are investing.
With a $1 Trillion market cap, Cryptocurrency is emerging as a prominent investment vehicle. With XcelPay Wallet, you have the power to keep all your digital assets in one place. Keep your cryptos safely in a trusted crypto payment solution that uses face and finger-print scanner… . Use seamless biometrics to access your wallet. Store multiple coins in XcelPay Wallet.