INSUBCONTINENT EXCLUSIVE:
The biggest advantage of cryptocurrency trading is that it will bring a lot ofpeople onlineWith the cryptocurrency craze picking up, the
most important concern on everyone's mind is whether it will ultimately change standard currency and alter the method we trade
In India, too, people are getting drawn to the glittering world of these virtual currencies, even though the flourishing but dangerous
sector is still unregulated
Going by the speed with which cryptocurrency trading is increasing, it's set to create disruptions
The Reserve Bank of India (RBI) has said it is preparing to launch its own cryptocurrency coin, however it will be done gradually to reduce
the interruption to the existing financial system.Too early to predictAlmost all cryptocurrency coins readily available today are privately
Bitcoin, which was created in 2009, stays the most popular of all cryptocurrencies available today
It is also the biggest by market capitalisation
Still, the sector is far behind fiat currency in regards to the user base
To state that these virtual currencies can overtake the standard currency system is a little too early, especially considering that it's yet
to evolve.No clear regulative mechanismThe underlying property is still the fiat currency for cryptocurrency trading
The rupee or the dollar will stay the primary currency unless an option is found
Cryptocurrency is mostly viewed as a shop of worth that is able to beat inflation and a quick ways to increase wealth
In the lack of a clear regulatory system, cryptocurrency is unlikely to end up being a way of exchange anytime quickly
It depends on popularity.Advantages of the shift to cryptocurrencyA shift to cryptocurrencies carries a number of advantages
Doing so might reduce the transaction expense, aid quicker digital adoption and develop new employment opportunities
Already, a number of online exchanges that assist in the trade have shown up-- like WazirX, CoinDCX, CoinSwitch Kuber, and so on-- using
hundreds of tech-savvy people and those with an understanding of matters related to money.The greatest advantage of cryptocurrency trading
is that it will bring a lot of people online
The lure of money is hard to disregard and when it proliferates, people who feel less inclined towards smart phones and internet will also
establish an interest in them
This might assist the nation go digital, but will also need investment to improve the existing infrastructure.
