Submit News All Crypto News

Rise of Cryptocurrencies in India?

Category: General

History is debatable but it is believed that more than 2500 years ago, the first coins were introduced and about 1400 years back, the Chinese were the first to use paper bills (mostly in the form of privately issued bills of credit or exchange notes). Some of the early forms of ancient coins were minted by merchants as tokens for use in trade transactions. Although it may have taken centuries for coins and paper notes to establish its roots across the world its commercial utility was so impactful that even today our interpretation of money heavily relies on it.

Fast-forward to the 21st century and what we are staring at is cryptocurrencies and with much enthusiasm, at the technology behind it — the blockchain technology. This article is only an attempt to understand some of the probable reasons behind the growing popularity of cryptocurrencies in India and to highlight the emerging recognition of blockchain technology.

Information Input Sources: (1), (2)
https://www.ancient.eu/coinage/
http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914593,00.html

Global attention and novelty

In the last few years, the concept of cryptocurrencies has garnered significant global attention something that India has been closely watching.

It may not be very hard to believe that such a period of observation might have served as a head start for many fintech enthusiasts in India. The novelty factor further sustained the interest and curiosity in cryptocurrencies.

Anticipation of returns

Anticipating profitable returns from an investment is the natural tendency of an investor. The mind-boggling surges in the prices of some of the most popular cryptocurrencies over a very short period of time may have appeared to be very luring from a returns perspective but

the high prices of these popular cryptocurrencies also make them unaffordable to the small investors and one of the probable outcome of which is that it could drive these small investors to explore other cryptocurrencies with the anticipation of similar levels of returns as with the popular cryptocurrencies.

However, return on investment is only one of the many factors for evaluating and examining an investment option. Other factors like exercising prudence and assessing the prospects of a project for which investment is sought are also very important.

Profile of the small trader

Another factor for the buoyancy in cryptocurrency trading in India could be the profile of the small trader — young, tech-savvy and compliant — a phenomenon emanating from favourable demographics.

Information Input Sources: (3)
http://www.livemint.com/Politics/KaHvtCHGC79rc8UgkrEEUP/Cryptocurrency-trades-in-India-show-no-sign-of-slowing-despi.html

Emerging recognition of blockchain technology?

According to a media report, Reliance Jio Infocomm Ltd is mulling to create its own cryptocurrency, JioCoin and is also planning to build a team of young professionals to work on blockchain technology.

Kodak is also planning to come up with its own cryptocurrency called the KodakCoin — meant to work as token inside its new blockchain-powered KodakOne platform — a rights management platform for photographers.

Another company — Obizcoin is planning to deliver its proven solutions through BOT. OBIZCOIN is developing a Smart Business Process Automation BOT based on Artificial Intelligence and Blockchain Technology.

Information Input Sources: (4), (5), (6), (7)
http://www.livemint.com/Companies/AzdrYmQhYnq0TPiDUbZcSO/Reliance-Jio-planning-its-own-cryptocurrency-called-JioCoin.html
https://www.thesun.co.uk/money/5308714/kodakcoin-cryptocurrency-price-how-to-buy-eastman-kodak/
https://www.theverge.com/2018/1/9/16869998/kodak-kodakcoin-blockchain-platform-ethereum-ledger-stock-price
https://www.obizcoin.io/

Disclaimer: The above content/article is intended only to provide a general overview and is not to be used as a basis for the exercise of any business, professional or investment judgment/action.

Author: Varun Shah
Source from: http://www.cryptoicoalert.com/rise-of-cryptocurrencies-in-india/


Contact
CryptoICO
Share on Facebook Share on Twitter Share on Whatsapp Share on Reddit


Cryptocoin News RSS


End of Pieta PRE ICO Sale: Last Day To Invest in The Great Project | Only 12 Hours Left
The token enthusiasts and all the potential investors who are looking to become a part of cryptocurrency revolution and a reliable blockchain platform can invest in Pieta pre-ICO tokens today starting with a token price of 0.25 USD (pre-sales). The investors, merchants, and businesses who are loo

BDCC is growing very fast on Trade Satoshi Exchange
Summary: Trade Satoshi, a US-based multi-currency platform.BDCC comes in top-7 on Trade Satoshi compared to the initial value, this mountaineering proves BDCC as the best cryptocurrency. What is the Trade Satoshi Exchange TradeSatoshi is a trading platform for Bitcoin and Altcoins. TradeSat

Huge Discount for Early Buyers: Pieta Token Price Reduced From 2$ to $0.25 (for limited time)
Pieta, the world's first truly green energy powered Blockchain Solution for B2B and B2C commercial transactions, is happy to announce a time-bound $0.25 token price offer for early PITC ICO participants. This one time discount is not only a golden opportunity for token lovers, business owners and

Who can be Day Swappers on the Time Swapper platform?
Summary: Day Swappers are active members who help maintain and grow the Time Swapper platform by performing various activities. Anyone who can do just that can become a Day Swapper. Day Swappers are an important component of the Time Swapper platform. They add to the platform’s growth by simply a

Heads Up Investors! The Pre ICO Sale Of Pieta is Live: Join & Buy Tokens Now
Pieta, which is the world’s first coin that seeks customer’s interest more than its own interest, is proud to announce the first official sale of its tokens. Pieta’s mission is to increase the use of clean solar energy in blockchain mining to reduce the cost of mining and make it more feasible and a

Started From 15 January, Pieta (PITC) ICO (Pre-sale) Is Live (Running Successfully)
The pre-sale of Pieta token (PITC) which started from 15 January is now running successfully. In just 5 days, a major part of the target fund has been raised and most of the tokens have already been sold. It is obvious that Pieta project has instantly become famous in the industry and among the pote

Pieta (PITC) Pre Sale is Live Now: The Earlier You Buy Pieta Coins, The More Benefits You Get
Pieta (PITC) Pre Sale is Live Now. 100,000 PITC tokens are for sale during this one month long Pre Sale period which ends on Feb 14, 2019. The price for one Pieta Token during the Pre-sale period has been pegged at $2. Dogecoin, Bitcoin are two acceptable payment methods. Pieta is a blockchain ecosy

Important things you need to know (and understand) about DCI
One of the DCI, or DigitalCryptoInvest primary objectives is to allow new start-ups, existing businesses seeking for investment to connect with investors in an open and transparent ecosystem accessible by all its users. One important thing you should know and understand about the DCI ecosystem is

NXT-ID (NASDAQ: $NXTD) Subsidiary FitPay® to Begin Shipments of Flip - a Contactless Payment Device for Bitcoin
Crypto News: NXT-ID (NASDAQ: $NXTD) Subsidiary FitPay® to Begin Shipments of Flip - a Contactless Payment Device for Bitcoin Contactless payment instrument funded with value exchanged from cryptocurrency shipping February 13 SEBASTIAN, Florida - January 11, 2019 – (Investorideas.com Newswire)

Airtoto End Of Pre Sale | Just One Day Left To Earn Big!
One of the most famed ICOs this year, Airtoto is renowned for its unique blockchain-based lottery system which allows users to play lottery games in a fair and transparent way. The Airtoto tokens first up went on sale in December 2018 which turned quite successful in a bid of investment. In its n

Contact: daniel@coincrunch.com Submit News RSS