Bitcoin Forum

After legalizing bitcoin in India, bitcoin trading in India exploded in mid-May. Over the past month, there has been data indication, indicating that more bitcoin has changed hands on local, peer to peer exchange in India than before.


If this continues, with the way Indian's are going about bitcoin trading. The Indian market is likely to hold a great potential and importance for the future of the crypto economy. Since people in India is betting big on bitcoin

Take note. When a person is trading bitcoin, it doesn't automatically mean that he's betting that bitcoin will get big. It could be the case that a certain person is only trading bitcoin just to take advantage of the high volatility, and just mainly to take money. I personally could frequently trade XRP and at the same time think that it's a completely useless project.

I've seen the news about the surge of trading in India just like as it's stated from these sources a few months ago.

Crypto trading rises in India after SC overturns RBI payments ban (https://www.livemint.com/money/personal-finance/crypto-trading-rises-in-india-after-sc-overturns-rbi-payments-ban-11587466139986.html)
RBI Says No Restrictions on Banks Providing Accounts to Crypto Traders (https://cointelegraph.com/news/rbi-says-no-restrictions-on-banks-providing-accounts-to-crypto-traders)

Yeah, they're betting on bitcoin. Meanwhile there's the most recent news that the RBI is stopping or causing the delay of the fun and giving again the potential ban on bitcoin and fining users that will be caught if its become a law.

Well, people always interprete signs in a wrong way. So, in this case increase of trading volume is looked as "betting big" on Bitcoin which, of cours, doesn't necessary be the case.
I just expect predictions how this will impact the global market and that because of this Bitcoin price will "rise to the moon". This is something that usually follows.

Don't forget that RBI may again ban Bitcoin in India and they are trying hard to do that seems like- https://bitcointalk.org/index.php?topic=5255351.0
However, it's good that volume is increasing there although it's common. When you have no restriction on trading, it gets easy to run business, do trades frequently with flexibility, the volume will increase. Do you have any statistics on your claim? Would be good to know.

Pretty much. Don't get me wrong, more traders is actually a good thing, as it would give the markets a lot more liquidity. Hence, there would be faster sort of "price discovery", and probably less market volatility. It's just that a lot of people think that every positive crypto news automatically means higher price.

The "good Bitcoin bad Bitcoin" has been going on in many countries and India is in a state of confusion probably because it's harder to keep up with all BTC users at once.

With first-world countries going more & more digital, it's going to be easier for authorities to spectate & analyze what's going on with Bitcoin holders and traders while in 3rd world countries you have less digital, more physical & even barter. It probably scares them that a quite significant number of traders may not be submitting proof of identity.

As far as I can see, there is an exchange in India (https://blog.coindcx.com/how-to-buy-bitcoin-in-india/) that allows deposits + withdrawals of up to 4 BTC per day without KYC, so no surprise the trading's on fire right now.

Sorry for the spoiler!

The bitcoin trading is on fire in India but probably that's the reason why Indian government is planning a blanket ban through a law. It includes punitive actions against the bitcoin holders in India.

Ref: https://economictimes.indiatimes.com/news/economy/policy/with-a-law-india-plans-lasting-ban-on-cryptos/articleshow/76330403.cms

While majority of the countries in the world is seeing it as an opportunity, Indian government is seeing it as risk and hence trying to ban it.

Such kind of thinking only comes from a regressive mind unaware of the world development. In 5 years, India will see more temples filled with beggers than factories full with employed population.

It looks like they are on the loose after bad reports circulating that they are going to totally ban Cryptocurrency in India, it's a display of power for Indian investors and traders that they are many and  that they can change things if they unite, government should positively see the advantages of this technology because they already have a lot of people supporting Cryptocurrency.

Good things are happening in India. Global crypto exchange aggregator already have launched coinswitch kuber which delivers best rate by aggregating exchange rate data accross all indian exchanges and supports 100s of currencies. After that some exchanges even reported 10x surge in trading volume accross the nation.

its very good news for us because now crypto currencies is going successful in all type of countries so its very great for Indians they can easily trade in crypto in India , i think now weak and poor people will also feel secure about crypto currencies and they will feel safe and trusted about crypto so its really positive news for all crypto users.

It can also mean that someone is buying coins to purchase products unavailable for fiat money or wants to move money abroad with some more anonymity than he'd have with bitcoin.

He could be paying hookers and telling his wife that he's trading for all that we know.

Bitcoin is still only a speculative asset for most investors. Not many people have the brains and the courage to hold.

We don't know about that yet but all we know is that it is flourishing in their country. Not being a party pooper here but I've read a thread that there is a rumour about India banning bitcoin again in the country. Reading the OP, I hope this will not happen. India might be one of the countries where bitcoin mostly circulate and being used. That could attract users there and that also means tourists for them.

Isn't it just because everyone is at hope working and in front of their pc?
Or there are a lot of crypto enthusiast out there just making a lot of trades last month. So good for them, at least crypto has moved a lot since they legalised it.


Not just in India, but every nation has a great potential if their people opted to used crypto and trade it. The only advantage is that the India population is huge, making it one of the biggest market for bitcoin. But we will have to see. The government seems to be not solid as far as their crypto plans, if there are any.

I don't think the reason is working in front of their PC and also because of the pandemic.
It's just simple for me; they want Bitcoin, they want to own Bitcoin.
As you can see in the OP, much more bitcoin has traded on local/peer-to-peer exchange. So for sure, they are much into HODLING, especially the about trading bitcoins in India already lifted or already legalized (based on OP).

In the past, Indian seemly plans to consider banning crypto. However, they believe that banning crypto as part of technology is not a good solution.
By this good news o legalizing cryptocurrency including Bitcoin in India, it opens the wide ranges of crypto activities.
And when related t the trading activities, it is normal enough that trading should be increasing after this legalizing. Moreover, it probably because of the lockdown era during this pandemic, it leads many more people to come to enter the crypto world. And bItcoin becomes a good choice to trade with its great profits and probably risks.

It was then India has ban crypto last year
https://www.bbc.com/news/world-asia-india-43669730

And after the battling of the said issue( almost 1 year), they'll come into the resolution of this and allowing their people to use and invest crypto. I appreciate how their leaders foresaw the possible positive impact on their economy and the life of their people. Their openness will drive for a better future of their country and never left behind to this new technology. Ain't that it instantly giving a huge impact but as it continues to adopt the system will actually see the results and much they appreciate it especially for investors and traders.

It was their leader who fight for bitcoin legality in India, RBI issue a ban, group of people (mostly crypto exchanges) raise the issue on IDC, and IDC sided with crypto guys. But it's not over yet as RBI are going to fight it out, https://www.coindesk.com/indias-central-bank-plans-to-fight-supreme-court-crypto-ruling. So it's going to be a never ending battle in India. And perhaps traders are just taking advantage of the situation because they don't know what's going to happen next.

It is good for btc to be legalized in more and more countries of the world, it is moving towards an ever greater mass adoption. Hoping (at least for me) that the value of bitcoin and other altcoins will benefit. After all, the future will be increasingly inclined to adopt cryptocurrencies for payments for goods and services.

This is an excellent gain for Bitcoin itself because India has one of the largest populations in the world, and legalizing Bitcoin means other countries could follow as well. They are also one of the major economic forces in the world. Additionally, there's a technological advancements there that they could offer, possibly addition to the security or more inventions that could benefit the cryptocurrency community. This, for sure, is an advantage, and hopefully, others will follow as well.

But as you can see, the growth started around May, so it has something to do with people (not just in India), working from home and looking for other ways to make an income. I would say that bitcoin is already big even prior to the pandemic itself, but it added more in the statistics during the crisis itself.

But for me, India is still in the gray area though, the government is still 50/50 as far as supporting it. RBI (Central Bank) is challenging Supreme Court's ruling, so this growth might put to a stop, just saying.

I feel happy knowing trading in India is on fire, hopefully the price of bitcoin will go up with enthusiasm of traders in India. Remain careful,
not to be provoked by FOMO, because it can be dangerous if you get to FOMO. Always analyze the movements of bicoin, if not careful, you
can buy at the price of the peak. I hope not only that trading in India is on fire, but throughout the other country too. So the price of bitcoin
can pump.

Just imagining, if the whole Asia adopts bitcoin as a currency.  The price of bitcoin will boom to $100k easily. I keep wondering why the Asia countries find it hard to legalize bitcoin. Are they all afraid of bitcoin uniqueness or something else. Is it not yet time for them (Asian's) to accept digital currency as an avenue of financial freedom

That's very true. I also wanted to point out that there was a thread about similar things happening in Russia (way more people registering on Binance lately) just yesterday. Some might think that increased trading will lead to higher prices, but that's not necessarily the case. If people are in it for trading, the price can stay exactly the same even if the number of people is significantly higher. So it's not a reason to get excited. It means that people believe they can profit from Bitcoin, but not that Bitcoin is the future or something like this.

According to an article, India is planning to ban cryptocurrency again in their country due to some serious problem that is still unclear.

https://www.businessinsider.com/india-may-ban-cryptocurrencies-again-and-its-unnerving-the-community-2020-6 (https://www.businessinsider.com/india-may-ban-cryptocurrencies-again-and-its-unnerving-the-community-2020-6)

But as far as I know, India's economy is really far from recession and cryptocurrency activities are still ongoing and active. Trading volume really got bigger as people in India are trusting bitcoin so much, and they are so confident that its price will increase. They are aware of the volatility but still people are risking their assets and they treat bitcoin as a source of huge money. They should know its importance and how volatile it is in the market. They should be accountable if the bitcoin's price comes down in a certain season.

I saw another topic here yesterday which is about after legalizing Bitcoin in India that the government is about to ban it again, if a new bill should be approved. Someone posted that here yesterday in this Bitcoin discussion section of the forum, but I didn’t really believe it, and I’m hoping it will be just another false news.

As of now that Bitcoin is legal in India I know for sure that there will be a huge adoption there and India is going to be among the biggest community in the cryptocurrency industry. It’s really going to push us ahead and the price will even keep growing as more people from there are adopting it.

Considering the population of India and China, both should remain friendly to crypto space. Because any restriction from either one of these country will lead to significant impact on bitcoin markets. Like most other people I too do not want that to be happening. But, we cannot be sure what these governments are planning behind the screen as we do get mixed news from these countries.

The Paxful CEO and founder Ray Youseff said that India is a "sleeping giant" for the cryptocurrency world.
I agree with him,but there's no clear statement coming from the Indian government regarding Bitcoin and cryptocurrency trading.Will India join the group of crypto-friendly countries or will it remain in the group of anti-crypto authoritarian regimes of the third world?
I hope that China will follow India's example and allow cryptocurrency trading.This would be great news for the future of our community and industry.

Idunno man. The "x country is planning on banning bitcoin/cryptocurrencies" news have been thrown out a lot throughout the years that I mostly just think that it's BS. I'm definitely not saying that it's impossible for Bitcoin/crypto to get banned on India because it's definitely possible, but I'll believe it when I actually see it.

Hey. The crypto market has so many news, FUDs on "Bitcoin is banned", "Bitcoin is on fire in USA., India, China", etc. Months or years later, we have bitcoin is allowed to trade.

Facebook's Libra coin is prohibited to launch, that is a news months ago in 2019. Latest months, Facebook launched their Facebook shop, that is another step to move closer to Facebook Libra coin.

Don't worry because the fate is bitcoin is the future and the destiny of the world's financial ecosystem. Blockchain-based technology will change the global financial payment ecosystem.

Three days ago I found this article https://inc42.com/buzz/india-likely-to-ban-cryptocurrency-us-to-add-crypto-features-to-dollars-more/amp/ and have read it.

The indian government will ban crypto currency for the second times, but it is just a rumor and it may a FUD only.

However, legalized bitcoin or crypto currency as a whole at the current time is the right thing to do, especially for crypto user. There will be many people who will try to buy crypto and will be made as trading place or investing place.

Maybe their country is really not that prepared in engaging into cryptocurrency and yet they allow it. Probably they are having a hard time right now manipulating cryptocurrency in their economy because they don't have proper plans or actions regarding their legalization of cryptocurrency.

As they plan to discontinue the use of cryptocurrency, i'm pretty sure that there are a lot of bitcoin users who are worrying about their assets and they will have a hard time managing and using their cryptocurrency in their country once they prohibit again the use of cryptocurrency.

We have nothing to do with that, they should accept what the authorities asked them to do if the legalization of cryptocurrencies will go back to normal where it is not allowed to operate in the market.

Since the day of judgement by the Supreme court of India, Crypto-based activities on exchanges have been rocketed up. After 2 days following the decision, Cashaa India which is a cryptocurrency banking services platform, observed an increase of 800% in trading volumes. India is country with population over 1.3 billion people which will definitely make India one of the biggest market for cryptocurrency and as Bitcoins are now legal investors will feel more secure and safe.

This is due to the fact that for a long period of time bitcoin transactions were banned in India and also the exchanges also withdraw support for bank transfers if you would have sold your bitcoins. The supreme Court of India decided to allow bitcoin trading again and this caused all those people who used to trade bitcoins to come back and start doing business again, now I think bitcoin is even more popular in India than ever as the case got a lot of media coverage thus getting publicity.

Speaking with my good buddy who is Indian/ lives in India, he believes there is a real chance that India bans bitcoin /cryptocurrency again. I'm sure that could certainly have something to do with this hot streak.  I sure hope India decides not to ban cryptocurrency however.  Would just be another step backwards for a country who is already stuck in the past in far too many ways.

A lot of companies are also interested in India. A lot of articles also published where India legalizing bitcoin also a lot of companies also investing in India. Still, a lot of companies are going to see big potential in the country since there are surely investors in the country that is interested in bitcoin technology, etc. Still, there are rumors online where India could ban bitcoin in their country but I doubt it since it could be a good opportunity to the country to adopt in bitcoin technology. Like other countries, bitcoin adopting bitcoin is a great opportunity in that country.

Indian companies interested in Blockchain technology and foreign blockchain-based companies planning to invest in India has nothing to do with the legalisation of Bitcoin in India. Most of the previous official recommendations in India always accepted the technology behind Bitcoin ie. Blockchain technology but not Bitcoin.

The surge in Bitcoin trades in the past months doesn't mean that it is going to boost the prices or improve the adoption. And as far as I'm concerned, the recent news that India is planning to ban Bitcoin is just a FUD. Unless we have an official statement we shouldn't be much bothered much about it.

I think this depends on the country as well. Bitcoin is not illegal in our country and it is legalized for some time now but I am not seeing any development and improvement of it for years now. An ATM was built but after that, no that many stores actually are accepting it. Maybe it would still take some time but for now, I hope that it would continue for India.

This is good news for cryptocurrency. The spread of cryptocurrency in a populous country like India will have an impact on the entire crypto world. But the fear is that the RBI may ban bitcoin in India again and they are there to do so Trying my best - https: //bitcPointalk.o/index.php? Topic = 5255351.0 Earlier, they had tried to ban crypto in India, but it could not be implemented due to the intervention of the Supreme Court of India. If they want to ban crypto in India this time, I hope the people of India and the Supreme Court will resist.

I wouldn't say that the govt has regressive thinking just judging from cryptocurrencies. You can very well expect the govt to embrace blockchain based solutions and simultaneously reject the idea of crypto-"currencies" altogether. The policymakers and the power-holders in India take the concept of "black money" pretty strongly. The "concept" is that real, coercive power flows from "untraceable money" and only they should have it while the public shouldn't.

The Indian public is far from being mature enough to have a debate on a hedge against inflation. People are mostly content if they are making some money. They couldn't care less about the concept of banking cartels and individual privacy.

The basic problem is that bitcoin is 50 years too early for a country like India.

Black money are used everywhere with many payment methods, not only with Bitcoin or crypto. Governments are not able to ban fiats or INR because of black money from some companies, foundations, organizations. Hence, they will not ban bitcoin or crypto because of money launderings.

Real bans or FUDs, such news only initiate Indians choose to use P2P marketplaces more often. The combined volume on P2P marketplaces, LocalBitcoins, and Paxful is increasing.

Source of the chart: https://www.usefultulips.org/combined_INR_Page.html

It is not a good one that help us to come to a conclusion because the opposite trend is found in China and CNY trading volume: https://www.usefultulips.org/combined_CNY_Page.html

It can be ban if there's ground that may direct the government to stop crypto / bitcoin from the country but if the people and the supreme
court are going to resist, the chance are big for this market to continue.
There are many possibilities where government may see lapses and allow them to stop the existence of crypto / bitcoin but as long as there
are communities that can provide benefits to people and the government.
This market will survive and continue to work alongside with other digital assets. Very important to the users to prevent illegal activities
it will remove the doubts of the government that it's been used
for illegal transactions around the place.

It's a huge country with immense possibilities.  While some people are investing money to hide tax, money laundering on the other side the top institutes like IITs and NITs are offering blockchain courses for their students. These institutes have the capability to use the blockchain technology for the greater propose. Thus I don't think it's too early for India.
Gov should make a law for the crypto coins rather than banning it. Then it will help to restrict the people from its illegal use, on the other hand, it will encourage the people to use the technology.

Volatility is part of the crypto market there is hardly anything anyone can do, watching out for it won't prevent much, I think what the above poster meant is when btc price is up and down is what gives people the chance to buy and sell as the price fluctuate, population plays a big role yes, I don't see the bad side band the big change in supply you are talking about, from my own understanding the supply already know and the demand is what many grave for, (except am misinterpreting your post)

I think the more the population of people in btc, the more will be the demand and this will translate positively in price, Indian has a large population and with the acceptance of government this will really open many doors, between what tension are you referring to between China and India?

I am not saying that the govt will take a negative view of bitcoin because of money laundering issues. They will take a negative view because bitcoin allows people to have the choice to earn money and keep it for themselves. They want to control those channels themselves and not let the common public have them. Its similar to how high-level corruption flourishes while normal public is forced to account for every single penny.
The so called politicians who are taking up these laws in parliament are fed by bureaucrats. The same bureaucrats that continue to earn millions in kickbacks on defence deals, infrastructure projects, educational/ healthcare spending. Corruption is so institutionalized in our country, that these people can only see bitcoin from their colored lenses. There is a idiom in hindi which roughly translates to "The thief worries the most about theft in his house". So even though the general public will be involved through regulated exchanges, these bureaucrat and political nexus is hell-bent on painting it as "black money". This gives them the justification. Why else would there be talk of potentially making it illegal to own cryptocurrencies??

If people are relying more on P2P, then they are actually using bitcoin the way it is actually supposed to be used. Even on localbitcoin, its not like it is completely untraceable. It just allows a person to have his privacy. The authorities don't want to do their real job and blame everything on p2p trading. It is kindda pathetic and regressive.

I dont' say "blockchain technology" is too early. "Bitcoin" with its concept of financial freedom and privacy, maybe too early for most of the population. Most people still prefer to tow the official govt line rather than take a constitutional stand.

Agree. If they just ban it, this is going to be another reasons to leave this country ASAP. Yeah but i am sure we'll all try to oppose it in our own ways first.

In India, the mood of the Government regarding cryptocurrencies and users very often changes. Recently, information has again appeared that ordinary cryptocurrency users will be punished for illegal actions by cryptocurrencies. but at the same time, the Central Bank of India made an official statement that no state bank would deny services to cryptocurrency companies. Against this background, the Indian cryptocurrency exchange COINDCX began to raise funds as investments from other companies such as CoinBase and Polychain. Therefore, in any case, India has a future with cryptocurrency and it is very promising.

In India, there has not yet been any legalization of bitcoin or other cryptocurrencies. Recently, the illegal order of the Reserve Bank of India was withdrawn through the court regarding the recommendation to other banks and financial institutions of the country not to service accounts related to cryptocurrency.
Now in India, there are still no laws and rules for cryptocurrency circulation. However, information appeared that the government may prohibit the full circulation of cryptocurrency in India, so the situation there is not quite good. In any case, there is nothing to rejoice at the moment. The government can change its mind under pressure from the people.

A few days ago, I've seen a post about the Indian government want to ban cryptocurrency and today they legalize cryptocurrency. Actually, there is no guarantee that they will not ban crypto again in a few days later. so, I want to say to all Indian BTC holder “be alert" find an alternative way to use and to trade BTC, even if the government will attempt to ban BTC again, so that you do not have to face any problem.

I am a litle bit confused because I remember reading that topic too talking about the possibility of banning the use of cryptocurrencies in India.
Here is the link:
https://bitcointalk.org/index.php?topic=5255351.0

I don't know what to believe anymore!
@OP, if possible, can you add links to the source on which you found this info?

No doubt, the india market holds a great potential towards crypto mass adoption over the nation. I'm really glad we now have quite a handful number of trusted projects from there as oppose how india projects in the late 2017 to early 2018 existed scams with raised funds and the fact that crypto activities got approved by the Supreme Court really bossted the usage of crypto in India

Most of the Asian countries government has thought that their countries people would make the bad use of cryptocurrency to launder the black money. Then there are a lot more illegal activities that can be possible with the help of cryptocurrency. Such kind of reasons has made them paralyze to take a decision in cryptos favor.

At present, Bitcoin has been declared illegal by many Asian countries. All of these countries think that the use of Bitcoin is harmful to their country. My personal opinion is that although Bitcoin is used for some immoral purposes, there are many good aspects to it. Unemployment is a problem in many countries in Asia, so the Bitcoin business can play a big role for all these countries. If this is done then the world market will bring a great potential for the future of the crypto economy. Unemployment problems in all those countries will be solved.

The people of India saw freedom and decided to embrace it and their Apex bank are angry with the people for trying to chat their own financial course. I hope the Apex bank chiefs won't approach the supreme court again to review their judgement giving legal backing to cryptocurrency trading.

We don't know though all we know is that they don't have the right to hold your freedom to choose where to put your money. If you all wanted to put that in the bank, it is your right. If you want to buy bitcoins and save them for later, that is your right. Either way, people are finding ways to gather profit and if they wanted to invest in bitcoins, that is fine, that is their money.

being one of the Largest country in the world this is really in effect for the market of crypto if they will suffer (indian Crypto users) continuously like this situation.
and they have been suffering since years ago when crypto was banned in their country and now here we go again.
Of course and those are the capitalist and Bank owners,because with crypto they are in the edge of business and afraid of losing their syndicated businesses when crypto took over and being supported by masses.

yup . banks are just insecure becuase those that invest on them are now withdrawing thier coins and put them on bitcoins   . they are afraid that one day they thier business will go down the drain so as early as possible they are now finding ways to stop it  .

anyway bitcoin is now allowed on india again ? what the heck   ,  cant count the times they banned and unbanned btc   .  what wrong with thier governments   , are they  confused or what   ?

It means that the mass adoption in India are now increasing. If other country will legalize also the cryptocurrency like India,i think it will help our economic problem specially this current pandemic situation. It will increase the number of people using it as an alternative source of income. It's really a good opportunity if ever but only the government can decide to accept.

Well, it is a decentralized cryptocurrency so maybe they are looking for how the people will react to it and they will make a law if that turned out to be bad or maybe banning it, again. As far as I know, the interest of Indians to crypto currencies are increasing and they might be one of those countries with a lot of users but the government, again, might ban the said currency, I don't know what they are really thinking.

India has the potential to take this technology to the Moon, just based on their population density, but their politicians are very sketchy to say the least. India are one of the countries with the highest corruption statistics in the world, so getting them to play ball.. would be next to impossible.

Since Bitcoin became more mainstream, India has banned Bitcoin several times. The different people in government are not talking out of one mouth...it all depends what each group/party can get out of this.  >:(

India has the human element that needs a lot of money for production, but that human element does not have a lot of money in order to invest and achieve a lot of money and profits.
India will not be a market for investments in digital currencies, but the use of programs to pay directly to buy Indian products and shipping in digital currencies will make India the first country in the world.
we need some apps like paypal to bitcoin to work in india

There are many frauds related to PayPal to bitcoin and that is the reason only trusted people are always willing to deal in it, others just won't accept this kind of deal. A lot of people have been scammed in the past in the PayPal trades and even escrow also don't accept PayPal as a method of payment.
But Indian crypto market is having a lot of potential in the short term and in the long term as well, because there are only a few companies in the crypto sector in India which directly means there is a lot of development that can happen in the near future because of crypto being legalised in India now.

Even when bitcoins were banned a hefty number of users were trading, buying, selling and most importantly gambling with bitcoins which indicates that the people do not care as much about the govt. verdict as much they want to make money and when they hear that bitcoin price went 10 times they get mad and invest while some gamble with bitcoins because its not possible to track bitcoins and since betting/gambling is banned in India they enjoy such services and use bitcoins as a medium.

I have been into lot of guys from India and while I respect some and have bad experience with few, I have noticed that no one is actually interested in technology as much as they are interested in making money with trading or gambling. Trading has certainly been lifted by the court's decision to allow bitcoin transactions because now people can trade and cash their coins which earlier they had to use illegal methods.

The population alone cannot help the bitcoin and crrypto adoption because the literacy rate is low and education system is very weak in India. The government is so confused that they ban bitcoins without a proper reason initially and their courts had to lift ban and it took a few years I believe thanks to the guys like unocoin and others who filed cases against that government decision.

I believe India would always be a good spot for crypto because like you mentioned India has the highest corruption rate and while I am not sure that is true but surely in countries where the corruption rate is high they are more cautious when allowing bitcoins and such methods because once approved it can cause mayhem given the crime rate and the nature of bitcoins.

Indian market truly holds lot of potentials to massive growth and I'm glad that the vision of bitcoin is spreading across the entire indian but however, there's still news flying around about the government and lawmakers of indians trying ban or highly regulate the activities of cryptocurrency. If this ever happens again, indiam will surely lose a great market deal as everything might got shut down by the government 

I just hope it continues

There is another talk that the Indian government might ban again Bitcoin. I don't know why are they going back and forth like this since I see a good future of Bitcoin with them. I guess they are so scared of what might happen with traditional currencies and the banks if this popularity continues.

Here's an article about it (https://news.bitcoin.com/indian-government-banning-cryptocurrency/#:~:text=The%20Indian%20government%20is%20reportedly,Bank%20of%20India%20(RBI).)

There's no doubt bitcoin trading will be easy for Indians since they are technologically inclined, it would be easier for them to adapt to bitcoin, plus if I am not mistaken, bitcoin before was restricted to their country, so for the long wait, the hype must go too high as if most Indians engage in trading at the same time.

This definitely will not just impact the country India, the news concerning this might also spread and taken advantage by traders to ride the hype and buy more.

CMC apparently, doesn't show the effects of this news as of this moment.

I guess some of them already invest in cryptocurrencies by secretly. They don't say to anybody except their closest friends or family because they don't want to break the rules. If the Indian government can lift the rules, I think that can encourage people to use crypto as their investment, and even they will try to get involved in the blockchain technology as other people. But I guess the rule is not to stay for a long time, and someday, the rule will be changed, so people can invest in cryptocurrency by free.

That's very possible as this forum alone has Indian local section and you can see that they have been here long time already. So of course, the time that it was not yet accepted by the government, they were very careful in disclosing their crypto activities to avoid such punishment. But since it is already legalized, it means, they are now free to deal with crypto and not be frightened for what may happen to them.

Good new for them that government are now supporting crypto, but there's a rumor I read that crypto could be ban soon in India, just don't know its chances. Hopefully this would not happen.

https://news.bitcoin.com/indian-government-banning-cryptocurrency/




I am not familiar with their exchanges, probably the increase of volume was notice in their local exchange?

If everything can be legalized, it will make people free to use crypto, and people will try to obey the rule. But if something has a positive thing for people, but they can not use it because of the license, people will still try to use by secretly. They will try to prevent tracking from the government, and they don't want to make a deal with their government. Maybe that is happening in the country in which crypto is not yet legalized.

I would compare this with the phenomenon at the time when the internet became so much accessible and cheap that many as in many people have started accessing social media and it also took Youtube by surprise with the Tseries / Pewdiepie feud. Like what happened to that many people started looking at Bitcoin as a way to end their poverty, or maybe to go higher than being Middle class. That is why there is this boom that is happening. But this is just one country. We need the elements of 2017 to happen again and sustain it for Bitcoin to back up and increase its value.

Just a piece of advice, If you think you dont have enough expercience in trading bitcoin then first try becoming an investor. It would be a great way to start experiencing and exposuving into financial markets until you are confident to start trading.

great to Know that p2p transaction is what bitcoiner usually do in india compared to many countries that uses exchange and other form of trading.
and also glad to know that india is now on Fire while there are issues about banning Crypto again in that region.
Actually what you must wish is India will support not only Bitcoin but the rest of cryptocurrency,because this is the future and not only Bitcoin.
That is just an issue but nothing concrete to happen,so Yeah there might be many changes that will come in the next days or weeks specially after this pandemic.

I do not know how india think of about bitcoin. In that case if this activity will be successful then of course many of bitcoin users will also going to join and gamble on bitcoin. I know bitcoin is not a betting platform but the moment you buy bitcoin that is consider already a bargain for you could loss the potentially depending on market price movement of bitcoin.

For now, observing them would be at great advantage on how bitcoin could affect daily life living eapecially if it will be used as an  medium of exchange just like what others do already.

Well. then this could mean a major leap of development of bitcoin.

This is not happening in the recent days, its just proposed months back even before court lift the ban, but the proposed bill yet to be passed by the government to make it illegal.I don't think this is going to happen in new future because we are in the pandemic so this bill won't be at their priority for now.

Thanks for the advice but that's just what I have followed already.
I started investing in bitcoin and then try to learn trading, but I won't say I'm successful and I won't say as well that I'm losing a lot because I started trading with less knowledge and try to gain experience so it could help me to be successful in the long run. (not an easy journey)

Actually as long as you have the proper risk management, it should not be a problem even if you will not succeed right away as you are in control of the amount you risk.

Yup, I know for sure that India is one of the biggest places for Bitcoin and the growth is on high speed. I have a few friends that are living there and they are also into Bitcoin. Though as of recent , after the news that Bitcoin has been declared legal by the Supreme Court in India, another news I started seeing online was that their government is trying to ban it again. Though my friends have not talked about this, they are still making use of Bitcoin.

I strongly don’t wish for such a thing to happen. Their government should support and allow people to keep making use of Bitcoin, it’s going to benefit them in one way or the other. If they are not letting people to continue using cryptocurrencies then they may again think about legalizing usage of cryptocurrencies after few years by observing how Japan kind of countries are benefiting by allowing their people to adopt cryptocurrencies.