Surging of Bitcoin trades in India

Trading platforms for cryptocurrency have seen around a 4x rise in deposit requests. This rise has come after Tesla announced about buying the bitcoin of around 1.5$ billion and they are ready to accept cryptocurrency as the payment option.

 

The company known as WazirX has seen transactions of around 300% after the announcement from Tesla. WazirX has delayed credit deposits due to such high requests from the users. In every minute they are getting various requests for depositing the request. All of your deposits will be credited with some delays. Cryptocurrency is also banning private traders. This will affect the organized players who are illegally finding the way for operating this market. Another company from Bengaluru named CoinSwitch has mentioned that the volumes of the transaction have almost doubled after the announcement from Tesla as compared with the average daily volume. 

bitcoin and cryptocurrency

Vauld company is also mentioning the same about the volume of transactions on their platform has also doubled. There is a 50% spike in the new users 15% in the returning users. They have observed around 10-million-dollar transactions in the last 24 hours. Before this, there is a daily average of 4-5 million dollars. The deposits of rupees have been doubled from 15 crores to around 30 crore rupees per day. If you see the conversion of 1 btc to INR before a decade and now, then you will able to understand properly how bitcoin has surged in the market.

 

When larger international markets are coming out with positive regulation on the bitcoin and cryptocurrency at that time India has taken the opposite stance. They are interpreting this virtual currency has not been issued by the central bank. The lack of the proper definition of cryptocurrency in the recent bill has placed the exchange platforms and Indian currencies in a confusion.  

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Is it good to invest in bitcoins?

There are thousands of investment options available on the internet but bitcoin is the best one. You will get a lot of things that support bitcoin investing than any other investment. If you never do bitcoin investment or win fun token with any gambling site then you must have to learn about it. You can win a lot of bitcoins and use them to beat the fast-growing inflation rate.

These are few points that will help you to understand the importance of bitcoin investment:

  1. Liquidity

The best thing about bitcoin is that it is the most liquid investment asset. It has high liquidity because of the establishment of trading platforms, online brokerages, and exchanges as well. You can trade bitcoin with gold, silver, or even with cash with very low fees. If you are looking for a short-term profit then bitcoin or fun token is the best investment option for you.

Bitcoin and cryptocurrency

  1. Lower inflation risk 

Most people use investments to beat the inflation rate. But the inflation rate is increasing very rapidly. If you want to beat your inflation rate then bitcoin can be a good option because bitcoin can never lose its value with time.

  1. New opportunities

Bitcoin and cryptocurrency are very new in the trading field so many new people are attracted to them. They start trading with bitcoins which brings massive volatility in bitcoin and unpredictable moves as well. So you just have to take advantage of these new massive opportunities.

  1. Minimalistic trading 

If you go with the stock trading then you have to hold a certificate or license along with some legal documents. But bitcoin trading does not need anything, you just have to join any broker and then start trading in bitcoin. The settlement of bitcoin takes less time than stock trading settlement. You can win bitcoin and simply put them into your wallet without any third-party involvement.

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Thinking to buy bitcoins? We are here to help

If you are a newbie to the world of crypto, we will let you know about the digital money concept. Bitcoin is a digital currency that is sent by people online and it is not at all complicated. It is somewhat similar to transferring money online from one bank account to another. But in this case blockchain technology is used to send data of transactions in cyberspace. Here we are not talking about normal currencies such as pounds and dollars but decentralized cryptocurrencies that are not controlled by any government or financial authority or any central bank.

So there are advantages of cryptocurrencies being global and so it is easy to transfer them across people staying in different areas of the globe without thinking about exchange rates. You can earn bitcoin too, but here we are focusing on buying them.

bitcoin funds

Where to buy cryptocurrencies from?

Binance and Coinbase are the two largest trading platforms for bitcoin. They are touted as the fast and easy way for new users for purchasing various cryptocurrencies like bitcoin. Another way of including the digital currency is from the app Ziglu and eToro which is the investment platform.

Gemini was founded by the Winklevoss brothers from the fame of Facebook I also the digital exchange which is allowing customers to sell, buy, and store cryptocurrencies. They have recently awarded the operational license by Financial Conduct Authority and it is regulated by the State Department of New York financial services.

If you want to buy cryptos or bitcoins there is a few percent of fees of transactional value which will include the charges of transaction, withdrawal, trading, and escrow.

Bitcoin Fund

Several companies have launch bitcoin funds. The main purpose of this is to facilitate the process of investing in cryptocurrency.

For more info you can visit https://freebitco.in/

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