Crypto in Indian Economy?

[coinerer]

India currently has the largest number of crypto users at over 100 million.  Nowadays, crypto has become very popular among the young people of India and many of them are involved in the crypto business.  How is it possible to raise so much awareness about crypto in a country so technologically and economically poor and will this current crypto enthusiastic generation of India could build up the future Indian economy to prosper or will it adversely affect the country's economy?

India is very advanced in all fields and India is a big country and Indian people are in big positions in the world  CEO of tech giants like Google are Indian. India has a population of around 1.42 billion so it is natural that there will be high rate of crypto users in India because India is technologically advanced. and in this modern world using technology, India is moving ahead economically too.

[RewFrew]

How is it possible to raise so much awareness about crypto in a country so technologically and economically poor

I don't think economically they're poor. Based on this link, they're #1 in GDP(PPP): https://en.wikipedia.org/wiki/List_of_Asian_and_Pacific_countries_by_GDP_(PPP)

According to the world bank, India is 13 poorest country in Asia. They are even behind their small neighbor country Bangladesh. More than 68% of indias total population live under poverty whose daily wages is only 2$. 30% of them earned 1.25$ daily. Source Link.

Really brother, still you think India is not economically poor?

And based on this article for their technological stats: India jumps 2 spots to 46th rank in Global Innovation Index 2021

Only 54% of indians have mobile phones and from which only 24% have smart phone. Source Link.

It's almost half of the total population of the country.

will this current crypto enthusiastic generation of India could build up the future Indian economy to prosper or will it adversely affect the country's economy?

Honestly, every country that sees a great source for the living of their people and for the government, it's what's matters to them. But I'm more confused about the news that has become trendy there last year about RBI banning bitcoin.

I think Indian officials don't know what they should do. They ban crypto then again unban it now they are saying they want to regulate crypto. I think they do not understand crypto very well and how they can be benefited from it.

India is very big country. Very high population there. Indian economic growth is very poor even from Bangladesh. Some times indian government give legality for crypto currency and sometimes do ban.so indian people could not invest on crypto currency. Now cryptocurrency is legal in india. Indian economy is big economy if they utilize Bitcoin or another goog crypto currency then it will creat positive impact on indian economy i think. So i can tell Crypto-currency is very important subject for indian economy.

[Bitcoin_people]

I have heard in many newspapers that most crypto traders are found in India. Young people in India mostly trade in crypto only. And every now and then various cryptos including Bitcoin are gaining good popularity for these youngsters in India. India is not so advanced economically and technologically but they have the highest bets in various casinos. And most of the casinos are in India for which most of the people in the country are currently more interested in this crypto business. Thus if the crypto business in India continues to progress then surely the country will prosper economically and in future they can move forward.

[CageMabok]

The number of crypto users is comparable to the population of India. When the state is unable to provide adequate services to its population, the people of that country will automatically become self-sufficient. They will look for alternative jobs to meet their daily needs. This is what causes the growth of crypto in India so fast compared to other countries.

Some of India's residents continue to use crypto as their current job, due to the lack of jobs there for residents. After all, crypto is also an opportunity for them to become independent according to their expertise. This is proven by the presence of several Indians who are still in the crypto project team in the last two years so others also started to follow crypto for income. And I think that if the life of the people in India will be better because of crypto, the government will definitely see this as a good space to take advantage of.

America has sophisticated technology, and the community is actively involved in the development of this technology, so that the level of activity of the people is also higher, people generally don't have enough time in terms of crypto development unless they are businessmen.

America is also not spared from crypto because generally the residents there are also familiar with crypto so they also use it very well even though they already have other jobs in their lives. And I think that not only business people have enough time for crypto development, but ordinary people also have enough time to see crypto development and follow it wisely because they can do crypto at any time without any time constraints when they want to work.

[Dewiana]

Isn't India a country with a crap ton of technologically knowledgeable people? I remember back then; whenever I had specific problems with anything concerning programming(or tech stuff in general), there's always that one Indian dude on YouTube that has the solution lol.

Also, probably due to the desire to get out of poverty? Like how we also see significant adoption of crypto in places like Venezuela.
If we look at and read every time there is crypto news in India related to this, India has come a long way in the world of technology so it's impossible if crypto in india is banned by local government, currently they are currently making standard regulations so that it is easier for people who enter this world to develop and the economy there is more than the worst

[Vishnu.Reang]

India is very big country. Very high population there. Indian economic growth is very poor even from Bangladesh. Some times indian government give legality for crypto currency and sometimes do ban.so indian people could not invest on crypto currency. Now cryptocurrency is legal in india. Indian economy is big economy if they utilize Bitcoin or another goog crypto currency then it will creat positive impact on indian economy i think. So i can tell Crypto-currency is very important subject for indian economy.

First of all tell me one thing, if India is very poor country then Bangladesh then why Bangladeshi people is migrating from Bangladesh to India? because better living conditions, to escape poverty, to support their financial condition. And another thing is India have very large grey economy. The reason is that the people always show lower then actual shell prices while trading or shelling vehicle, house or purchasing plot in order to reduce  taxes. This gives an impression that the Indian economy is small although economy is much larger.