{"id":763,"date":"2019-04-15T12:45:40","date_gmt":"2019-04-15T12:45:40","guid":{"rendered":"https:\/\/www.coindeveloperindia.com\/blog\/?p=763"},"modified":"2019-04-29T13:16:19","modified_gmt":"2019-04-29T13:16:19","slug":"what-is-the-future-of-cryptocurrency-in-india","status":"publish","type":"post","link":"https:\/\/www.coindeveloperindia.com\/blog\/what-is-the-future-of-cryptocurrency-in-india\/","title":{"rendered":"What is the future of cryptocurrency in India?"},"content":{"rendered":"\n

Is India prone to adapt Cryptocurrency? <\/strong><\/h2>\n\n\n\n

As of now, if you see the reaction of leaders, banks and\nregulatories, you would certainly say that future of \u2018cryptocurrency\u2019 is grim\nin India. The government of India has taken some steps to ensure that noone can\nbuy crypto by paying directly through the account. A few exchanges were opened\nand most of them are now closing down. <\/p>\n\n\n\n

One of them even dared to open an ATM machine in\nBangalore for dispensing Bitcoins. That initiative happened to be the reason\nfor the company\u2019s demise, the ATM was seized by the police and arrest warrants\nwere issued against the CEO and other board members of the company.<\/p>\n\n\n\n


Read More: How cryptocurrency development can change your business\u2019 destiny? <\/a><\/h2>\n\n\n\n

So we can say for sure that this method of payment cannot\nbe accepted in this country for the next few years. And when it comes to\ntechnology, India has always followed the footprints of countries like US,\nRussia and China. So far, none of these countries has legalized this\ntechnology. <\/p>\n\n\n\n

Circumventing all the regulations <\/strong><\/h3>\n\n\n\n

Off course, there are plenty of ICO projects being\nlaunched from the same countries, but there are no regulations over it. Even\nwhen it comes to crypto mining, US and Russia host a large number of\nfacilities. China did it too, until the crackdown happened in the year 2018.<\/p>\n\n\n\n

But this doesn\u2019t stop Indians from indulging in this\ntechnology and taking advantage of the ambiguity of the country\u2019s stand over\ncryptocurrency. While Indians cannot buy cryptos using the fiat through their\naccounts, they can buy them using a crypto wallet. And buying or selling crypto\nhas not been banned in India. <\/p>\n\n\n\n

There are just a few regulations which you have to\ncircumvent and you can buy or sell Bitcoin and Ethereum easily. And as far as\nICOs are concerned, there are various projects which have been launched by the\nIndians. Only their businesses are registered with some other country.<\/p>\n\n\n\n

Global ambiguity over the acceptance<\/strong> <\/h3>\n\n\n\n

Just like India, most of the other countries do not have\nclear stand on this technology. There are entrepreneurs in every nation who are\ntrying to make cryptos mainstream, but so far, no government has deemed this\ntechnology as a currency. In 2017, everyone was talking about bitcoin because\nit\u2019s value was sky-high. <\/p>\n\n\n\n

Right now, due to its dismal performance, many critics\nare assured that cryptocurrency will definitely bite the dust in next few\nyears. Noone knows for sure what would happen to bitcoin, ethereum or any other\naltcoin. However, those who are hopeful are actually crypto a part of their\nbusiness and spreading it across the globe.<\/p>\n\n\n\n

There is not just one but many projects which are using\ncryptos for payments to their customers. Moreover, the advent of altcoins has\nenabled various businesses to conduct their transactions very easily. The\ntechnology is actually becoming better day by day through the persistent\nefforts of programmers and developers all around the world. <\/p>\n\n\n\n

Comparative analysis with other technologies<\/strong><\/h3>\n\n\n\n

There are people who are comparing cryptocurrency with\ninternet as it was also an unreal concept for many. It has been 30 years since\nthe invention of World Wide Web and cryptocurrency is a decade old now. So it\nwould not be really fair to lose all hope in the latter.<\/p>\n\n\n\n

Cryptocurrency is definitely a trailblazing concept, it\nbrings a radical change in the way we have been dealing in our assets. But\nprobably, it is too soon to adapt it, the reason for stating  that is the undeniable fact that this technology\nhas also been used for fraudulent purposes. Despite all the bright sides of it,\ncryptos have been criticized for their involvement in mischievous acts. <\/p>\n\n\n\n

They have been used by hackers on numerous occasions and\nare still their favorite bait when it comes to executing black-hat practices\nfor money-grubbing purposes. These incidents tell that there is still a lot to\nbe done for making this technology safer for usage.<\/p>\n\n\n\n

Can you get it for your business? <\/strong><\/h3>\n\n\n\n

 However, it cannot\nbe denied that cryptocurrency has been accepted as a groundbreaking fintech\nsolution by many. The way it has been adapted worldwide clearly shows that a\nconsiderable number of people who understand business and economics have backed\nthis technology. There have been constant attempts by even the big organization\nto involve this technology in their working. <\/p>\n\n\n\n

And the best part is, it can adapted even by the startups and small businesses who have a limited budget. Cryptocurrency is flexible enough to be deployed on many levels in different businesses. And that\u2019s why, cryptocurrency development services<\/a><\/strong> are on the rise everywhere in the world.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is India prone to adapt Cryptocurrency? As of now, if you see the reaction of leaders, banks and regulatories, you would certainly say that future of \u2018cryptocurrency\u2019 is grim in India. The government of India has taken some steps to ensure that noone can buy crypto by paying directly through the account. A few exchanges…<\/p>\n","protected":false},"author":1,"featured_media":764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-development"],"yoast_head":"\nWhat is the future of cryptocurrency in India? - Coin Developer India Blog<\/title>\n<meta name=\"description\" content=\"With Cryptocurrency, India could move towards progress with a faster pace. 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