Crypto in Indian Economy?

[Balmain]

Technology, informatics has always brought benefits for citizens in India, a lot of knowledgeable people live, in India and abroad. You asked a good question, I think I will say if they adopt blockchain alongside the knowledge they have. according to already adopted statistics. I see the future of these people very positively, they will reach very different information. In this way, they will achieve prosperity and live differently from now.

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[coupable]

One of the most volatile markets in the crypto market is the Indian market.  The Indian market ranged between acceptance and rejection of the new market, and we are still trying to understand its position once and for all.
I do not think that India's high population is the reason why the government swings its stance between rejection and support.
It is most likely that the Indian government does not want to rush to pass legislation pending more monitoring of the market movement.
But of course, the advantages of bitcoin in the lives of many Indians cannot be denied, especially since the age group is less than 30 years old, representing the vast majority of the population.

[KennyR]

One of the most volatile markets in the crypto market is the Indian market.  The Indian market ranged between acceptance and rejection of the new market, and we are still trying to understand its position once and for all.

Yes, even now no one is sure of the legal status of bitcoin usage within the country. India that is against crypto, all of the sudden made 30% and based on the taxation people consider bitcoin usage as legal. Other than this there is nothing as official announcement on the usage restrictions.

[STT]

The vital thing about India is the majority of the population are below 30 I think; in that economy it is certain to expand.  Its more then a little part of the world that is important to BTC to be part of when it has so much growth potential.  An extra conduit to the world via BTC could be very important for India and also BTC too by such a large amount of users.
   Worry about the people and their attitude towards usage, more then the government or legal situation which imo will follow actual utility for the people.  The people always matter most in any equation.

[Vishnu.Reang]

cryptocurrency becoming very popular in India because this growing popularity has been attributed to several factors, including India leading the world in terms of growth in adoption of the internet, we can see in India now days even small auto driver use to have bar code for online payment, and the country burgeoning tech industry along with tech savvy millennials providing the right consumer segment for cryptocurrency. A prior analysis by global crypto exchange KuCoin had pegged India's overall crypto population at 115 million.

[Wildwest]

This is one way for the people of India to one day be far from the poverty they feel today, because hopefully people who already understand about Bitcoin then they will not waste this opportunity, and the current generation of Indians has indeed many developments in the field of technology and they have created a generation that can change their economy someday, And most importantly the Indian government must fully support the people who use bitcoin today so that they are safer in investing, because currently many Indian people are good at scientific problems in the field of technology.

[ringgo96]

The use of crypto is now widespread throughout the world and countries like India certainly won't be left behind because they are one of the most densely populated countries, and currently many Indian countries have mastered the field of technology and they are very active on social media so it's no wonder if they have invested a lot in the crypto world at this time, because they know the mistake they are feeling right now is very bad and want to get out of this problem and they believe bitcoin is one way to solve this problem.

[GigaBit]

India is one of the richest countries in the world and it is recognize as a self sufficient country in terms of meeting the basic needs of people. It can be said that they are economically prosperous countries. The education rate of this country is also very high. Moreover, Indians now lead some of the world's largest corporations. In terms of technology, they are much more advanced at the moment. It also developed as a powerful country of military power. As such, there is no doubt that their position in crypto will remain high. India is currently the only country with a large cryptocurrency market. Some of the largest crypto projects are owned by Indians. The Indian government initially tried to regulate crypto but failed. Instead they support crypto. India may emerge as a cryptocurrency hub in the future.

[Ucy]

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?

Bitcoin/crypto isn't that difficult to acquire considering it's peer-to-peer currency that can easily be found, acquired via the internet and is global. Besides Crypto must have been recommded, shared, promoted, spoken about on the internet and media to many. And it doesn't really cost that much to have, and has lesser barrier to entry...

There are several other factors that can contribute to countries having more users/holders than other countries. Being Economically or Technologically rich not really main factors because smart phones, internet are widely available in countries that seem poor and can be used for buying (many can afford to buy) and holding.

[WatChe]

India is one of the richest countries in the world and it is recognize as a self sufficient country in terms of meeting the basic needs of people. It can be said that they are economically prosperous countries. The education rate of this country is also very high. Moreover, Indians now lead some of the world's largest corporations. In terms of technology, they are much more advanced at the moment. It also developed as a powerful country of military power. As such, there is no doubt that their position in crypto will remain high. India is currently the only country with a large cryptocurrency market. Some of the largest crypto projects are owned by Indians. The Indian government initially tried to regulate crypto but failed. Instead they support crypto. India may emerge as a cryptocurrency hub in the future.

India is a country with 1.5 billion people and they have converted this massive population as there strength. Today there are Indians occupying top positions of Big giants like Microsoft, Google, World bank and more. India also has replaced UK and is now worlds 5ht largest economy. Still there is poverty in India, though it has come down significantly. In country like India where there is immense skilled IT manpower, it was obvious that crypto adoption will be high compared to rest of the world.

[erep]

India is a country with 1.5 billion people and they have converted this massive population as there strength. Today there are Indians occupying top positions of Big giants like Microsoft, Google, World bank and more. India also has replaced UK and is now worlds 5ht largest economy. Still there is poverty in India, though it has come down significantly. In country like India where there is immense skilled IT manpower, it was obvious that crypto adoption will be high compared to rest of the world.

I am amazed for the IT experts in India even though the majority of people in India are poor but they have the third largest crypto community in the world, I think they want to understand everything about the world of IT and networking, so many influential people from the biggest companies are from India and even the hacker community reliable also comes from India, so the development of the IT world is very easy to develop in that country even though we don't expect it when we see videos of community activities there.

[Davidvictorson]

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

Raising crypto awareness in impoverished regions is hard but can be done. In my opinion, introducing Bitcoin to these people should be done in phases and an evaluation should be done after the training phase. Evaluation will enable the facilitator to check how effective the Bitcoin awareness training is whether it should be continued or not. It will also enable them to tailor the awareness training to suit the audience.

[loopes]

Possibly, most of them have finally experienced the things that they want. The transparency and the decentralized part of the crypto economy make it even better for everyone there, and they could maximize their earnings with it. It's the freedom everyone is capable of. A lot of technological enthusiasts live in India. They are geniuses when it comes to computers. So why are people surprised by this? I hope it's being used the right way.

I totaly agree with you, most Indians are the technologically savvy. They are being a master on various technology, including blockchain technology and crypto currency, so that is why India has the most crypto currency users around the world. since 2017 until 2023, percentage of bitcoin adoption grow by a whopping 760%, then as per March 2023 user of crypto currency in india is potentially more than 150 million mark on this year.

[gaston castano]

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.

then what about the distribution of castes in India?
I mean only people with the upper classes can access things about this and others.
like there is already a limit for each caste, is that not true?
if everyone as you say know about programming.

[TravelMug]

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.

then what about the distribution of castes in India?
I mean only people with the upper classes can access things about this and others.
like there is already a limit for each caste, is that not true?
if everyone as you say know about programming.

I have a lot of Indian friends, so yeah they are into education to get out of poverty.

But in any case, and as far as I know, India government is really anti-crypto, but hopefully it won't stop our technically incline bitcoin enthusiast from India to still go and invest and involved themselves in the market.

We all know that bitcoin and crypto can't be stopped, and as much as the Indian government has a hard line stance, it's going to be very difficult for them to totally curb it.

[Vishnu.Reang]

People need to understand the basic of cryptocurrency. It is not a currency which is backed and regulated by government. It's highly risky and can't be regulated since it's not trackable. Those who are dreaming of getting millions by investing in it are being ignorant. There is difference between cryptocurrency and blockchain technology. So don't get confused and don't risk your money on something which is very complicated and you don't understand. Don't just daydream about being rich in no time. If you are investing little from your income then its ok but don't take risk and don't invest your all, you might lost your money.

[Moeda]

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.

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.

[KiaKia]

India could be economically poor but trust me, those people are one of a kind, I am not a indian but those people are one of the most smartest human race I've ever known, they are genuinely smart, both small and old indians, that's why you will find these people in every big companies around the world.

You talking technologies? Indians are made for this, go to Microsoft, Nvidia, AMD, Gigabyte, and MSI companies, Indians have the highest numbers of the most employee in these companies.

I remember a lecturer of mine who once told me that he loves having indians has his students, he claimed that are born smart, he said their IQ of learning is very fast, he made fun of himself getting married to an India lady because of this and we all laughed. The way they speak English may sound funny to you but do not underestimate Indians.

[Vishnu.Reang]

India could be economically poor but trust me, those people are one of a kind, I am not a indian but those people are one of the most smartest human race I've ever known, they are genuinely smart, both small and old indians, that's why you will find these people in every big companies around the world.

You talking technologies? Indians are made for this, go to Microsoft, Nvidia, AMD, Gigabyte, and MSI companies, Indians have the highest numbers of the most employee in these companies.

I remember a lecturer of mine who once told me that he loves having indians has his students, he claimed that are born smart, he said their IQ of learning is very fast, he made fun of himself getting married to an India lady because of this and we all laughed. The way they speak English may sound funny to you but do not underestimate Indians.

India used to called golden bird, do you know why India used to called golden bird? India's history is very large and  very rich with culturally and economically. India was the land of brave kings which was famous for it's royalty. India was one of the major export hub which use to fulfill 43% needs of world. During 300BC under the rule of Mauryan Empire that time World's western country was already doing trade with India. During the Mauryan Empire  borders was secured with guards their modes of trading was gold coins. Now you can think how rich India was. At that time 732000 gurukuls was there in India from where genius students use to come out like Aryabhata who invent Zero, in his book Aryabhata in 499 AD at that time he already written about Astronomy, Astrophysics and mathematics. In 1835, the British brought the English Education act to India. This destroyed the Gurukul system.

[naikturun]

Possibly, most of them have finally experienced the things that they want. The transparency and the decentralized part of the crypto economy make it even better for everyone there, and they could maximize their earnings with it. It's the freedom everyone is capable of. A lot of technological enthusiasts live in India. They are geniuses when it comes to computers. So why are people surprised by this? I hope it's being used the right way.

Yes, the transparency and decentralization offered by the crypto economy can provide individuals with greater financial freedom and the ability to maximize their earnings. India is known for its thriving tech industry, and many individuals in the country are technologically savvy and well-versed in computer science. It is not surprising that many in India have been drawn to the opportunities offered by cryptocurrency.