Bitcoin trading growing in India

[mdanwaransari]

P2P Bitcoin Marketplace Paxful Witnessing A 28% Increase In New Users Signups
 And An 883% Increase Trading Volume in India Compared to First Five Months 2019



                       Thanks to all the crypto users in India.

[madhavsinghrajput]

yes it is all over the news making headline.
https://www.bloombergquint.com/business/cryptocurrency-market-fashions-its-indian-comeback
People are bullish on bitcoin.Coin DCX one of india's exchage said and i quote "“We saw nearly a 10x spike in sign-ups, post the Supreme Court judgement." and that is overwhelming. They also said there is growth of 78.36% in BTC/INR trading.
Ajeet khurana former head of the BAAC said and i quote""Two factors are driving up volumes. First, most volumes on crypto exchanges are trading volumes and some traders have come back to the market post the SC judgment. It is largely not fresh investor money pouring in yet. If the latter had happened the price of say bitcoin would've been far higher than it is. This is because fairly small fiat currency inflows change cryptocurrency price in a big way".
I personally feel that this will force new investors to get into this market.
Please find above information and more on below link
https://www.livemint.com/money/personal-finance/crypto-trading-rises-in-india-after-sc-overturns-rbi-payments-ban-11587466139986.html

[Keshav1458]

Well overall that's great due to this Pendamic situation Job market in India has been disturbed but on the other hand, Crypto Exchanges like CoinDcx, Wazirx, BitBns, CoinSwitch, BitPolo are hiring more and more people, Overall increase in Volume will lead not only rise in Money Flow but eventually increase the Job Market Situation as well.

[akram143]

Well overall that's great due to this Pendamic situation Job market in India has been disturbed but on the other hand, Crypto Exchanges like CoinDcx, Wazirx, BitBns, CoinSwitch, BitPolo are hiring more and more people, Overall increase in Volume will lead not only rise in Money Flow but eventually increase the Job Market Situation as well.

Statistics says nearly 30% of Indian population lost their job in covid 19,if we compare that percentage with our population then its 30-40 million people and do you think these exchange can hire enough people to compensate.I guess there won't be more than 1000 jobs were created in these exchanges.

[reliable]

Well overall that's great due to this Pendamic situation Job market in India has been disturbed but on the other hand, Crypto Exchanges like CoinDcx, Wazirx, BitBns, CoinSwitch, BitPolo are hiring more and more people, Overall increase in Volume will lead not only rise in Money Flow but eventually increase the Job Market Situation as well.

Statistics says nearly 30% of Indian population lost their job in covid 19,if we compare that percentage with our population then its 30-40 million people and do you think these exchange can hire enough people to compensate.I guess there won't be more than 1000 jobs were created in these exchanges.

One thing that can happen here is if the country makes it legal then there would be many users who would invest or start trading on their own in crypto. So for the people who are without job or could not find it, they can learn the trading and with small amount can enter in it and quite possible that they can earn some amount out of it alteast to survive and take care of their family. Thus, somehow the job burden will reduce a bit if not major.

[akram143]

Well overall that's great due to this Pendamic situation Job market in India has been disturbed but on the other hand, Crypto Exchanges like CoinDcx, Wazirx, BitBns, CoinSwitch, BitPolo are hiring more and more people, Overall increase in Volume will lead not only rise in Money Flow but eventually increase the Job Market Situation as well.

Statistics says nearly 30% of Indian population lost their job in covid 19,if we compare that percentage with our population then its 30-40 million people and do you think these exchange can hire enough people to compensate.I guess there won't be more than 1000 jobs were created in these exchanges.

One thing that can happen here is if the country makes it legal then there would be many users who would invest or start trading on their own in crypto. So for the people who are without job or could not find it, they can learn the trading and with small amount can enter in it and quite possible that they can earn some amount out of it alteast to survive and take care of their family. Thus, somehow the job burden will reduce a bit if not major.

Yeah it will be helpful for people to earn but what is stopping them now? If they can earn later then they can earn now as well right?

And people who don't have job meaan they don't even got any money to feed their family so expecting them to make some profit on the most risky trading method doesn't make sense to me.

[reliable]

Well overall that's great due to this Pendamic situation Job market in India has been disturbed but on the other hand, Crypto Exchanges like CoinDcx, Wazirx, BitBns, CoinSwitch, BitPolo are hiring more and more people, Overall increase in Volume will lead not only rise in Money Flow but eventually increase the Job Market Situation as well.

Statistics says nearly 30% of Indian population lost their job in covid 19,if we compare that percentage with our population then its 30-40 million people and do you think these exchange can hire enough people to compensate.I guess there won't be more than 1000 jobs were created in these exchanges.

One thing that can happen here is if the country makes it legal then there would be many users who would invest or start trading on their own in crypto. So for the people who are without job or could not find it, they can learn the trading and with small amount can enter in it and quite possible that they can earn some amount out of it alteast to survive and take care of their family. Thus, somehow the job burden will reduce a bit if not major.

Yeah it will be helpful for people to earn but what is stopping them now? If they can earn later then they can earn now as well right?

And people who don't have job meaan they don't even got any money to feed their family so expecting them to make some profit on the most risky trading method doesn't make sense to me.

So amidst confusion if it is going to be ban or not , people want clarity (some of them whom I know) and there are people who does not want to trade or invest till they know if the government is giving the green signal or no.

Regarding Job - I meant considering the pandemic there would be high unemployment and people may have some savings of their previous years of work etc. So in such cases if they want to trade or invest in it. Who know luck may be with them and they do well in trading or the investment done in crypto ad this results in the income every month to those people be it part or full time.

[NIKUBHI]

Now BTC price is growing up faster and many Indian cryptocurrency traders where involving to trade in Bitcoin because of its price and also the there is no difficulty to buy or sell Bitcoin direct for your bank account. Hope in 2020 BTC will cross its last highest record.

[reliable]

Now BTC price is growing up faster and many Indian cryptocurrency traders where involving to trade in Bitcoin because of its price and also the there is no difficulty to buy or sell Bitcoin direct for your bank account. Hope in 2020 BTC will cross its last highest record.

We are seeing the good growth in the crypto and the thus with the increase in demand the price continues to move up as well. It was finding it difficult to cross 10k at some point of time and now with the growth it reached 12k levels and then it crashed but still we are above 11300$ now as well.

[suvo05]

I have seen one problem in our country when BTC is high then people are talking about it and interested to invest in it and only that time trading used to grow. But they scared when the price is low thus misses the good opportunities. I remember last time when BTC was at $20000 lost of new people invested in btc there were lots of crypto trading which reduced later.
 Obviously there are few people though who brought the BTC at low price.

[pakhitheboss]

So amidst confusion if it is going to be ban or not , people want clarity (some of them whom I know) and there are people who does not want to trade or invest till they know if the government is giving the green signal or no.

No doubt there is a lot of confusion but until there is something concrete out their more and more people will enter the crypto space this is clear with the increase in volume.

Regarding Job - I meant considering the pandemic there would be high unemployment and people may have some savings of their previous years of work etc. So in such cases if they want to trade or invest in it. Who know luck may be with them and they do well in trading or the investment done in crypto ad this results in the income every month to those people be it part or full time.

Most companies have stopped hiring and many lost their jobs before the pandemic, with the pandemic the numbers are gradually increasing. Those who have their jobs are getting paid half of their salary(majority).

Exchanges are hiring but they cannot offer jobs to everyone, you also need to have skills but in my opinion something is better than nothing.

[Sujoris]

Amidst this corona, people are learning new things.
Many have learned about BTC now, more than they did before. The fake bullshit that the government gave is starting to wash off now.

[reliable]

Amidst this corona, people are learning new things.
Many have learned about BTC now, more than they did before. The fake bullshit that the government gave is starting to wash off now.

The price also rose and this also attracted some of them to look and invest into the crypto . Initially when the stock market was falling so may be some of them would have removed and invested in it and now would have benefited in the crypto as bitcoin soar till 12k recently.

[Clement Kaliyar]

I have seen one problem in our country when BTC is high then people are talking about it and interested to invest in it and only that time trading used to grow.

There was a massive change in the concept on riding the bull with the aide of the government when they came up with demonetization and some have lost faith in holding cash and they knew you cannot trust holding fiat as the government would come up with any stupid idea that could destabilize the market and their asset and the big inflow of investors started coming in when the supreme court made a history ruling against the RBI lifting the ban imposed by them.

Despite all these there are reports coming out that Paytm is freezing the accounts of users suspected of cryptocurrency trading, i wonder their motivation on doing that when there is a supreme court order against these unauthorized procedures .

[CoinFellow]

yes it is all over the news making headline.
https://www.bloombergquint.com/business/cryptocurrency-market-fashions-its-indian-comeback
People are bullish on bitcoin.Coin DCX one of india's exchage said and i quote "“We saw nearly a 10x spike in sign-ups, post the Supreme Court judgement." and that is overwhelming. They also said there is growth of 78.36% in BTC/INR trading.
Ajeet khurana former head of the BAAC said and i quote""Two factors are driving up volumes. First, most volumes on crypto exchanges are trading volumes and some traders have come back to the market post the SC judgment. It is largely not fresh investor money pouring in yet. If the latter had happened the price of say bitcoin would've been far higher than it is. This is because fairly small fiat currency inflows change cryptocurrency price in a big way".
I personally feel that this will force new investors to get into this market.
Please find above information and more on below link
https://www.livemint.com/money/personal-finance/crypto-trading-rises-in-india-after-sc-overturns-rbi-payments-ban-11587466139986.html

I do not doubt the numbers quoted in these news reports, but most of the times these kind of news is sponsored. Especially by the people/organizations which are quoted in the news.

Apart from the rise in volumes, we also need to look into that how many new user registrations/KYC have been done in these Indian exchanges. This will give a clear picture, to the extent Crypto investment/trading is picking up in masses in India. I have tried to reach out to different exchanges in the past for this information, but none of them was willing to share it for obvious reasons.

Pls. note Crypto is a very new asset class and most of the educated people also have very less idea as to how to go about it. And then the negative news about government policy on this from time to time only weakens the confidence of common folks in getting started with it.