If you are a Bitcoin HODLer from India you should be celebrating right about now. At the time this post goes live Bitcoin is trading around $17500 in many markets but we're about $2K higher in India. We hit a high of high of $20761 on CoinSecure, an Indian Bitcoin exchange.
Despite warnings from the central bank, Indian users remain unfazed by FUDing surrounding the world's favourite cryptocurrency. Zebpay is the current market leader when it comes to market share for all Bitcoin transactions at roughly 50%. They are adding thousands of new users everyday.
With over 2 million users trading bitcoin in India the market is growing at a brisk pace. As the price continues to grow, Indian interest in various cryptocurrencies including Steem is increasing at a rapid rate. The total trade from India is now a little over $3 Billion dollars annually.
Demonetisation sparked a major change in investor's attitude in India. It forced many (myself included), to look at newer options to save their money and Bitcoin overnight became a great store of value and speculative asset in India.
I have so many friends asking me on and off Facebook about Bitcoin, Steemit and other cryptocurrencies that I generally post about on my wall. There's a lot of Bitcoin in the news in India today. Even as many thwart users from investing in Bitcoin, it has barely slowed people down and left most to invest with due diligence of their own.
Bitcoin exchanges from India operate with complete transparency. They have to adhere to the KYC laws in the country and so far there hasn't been any issue with the government.
India is currently adding a little over 200,000 new Bitcoin users on a monthly basis. According to a couple of trade analysts that I spoke to recently, they are expecting these numbers to grow at a healthy pace in the next few months.
For majority of crypto users from India, Bitcoin is the gateway to the world of cryptocurrencies. There are many Bitcoin exchanges here but few alt-coin trading portals and that has resulted in a great demand from India for Bitcoin over other cryptocurrency. I would love to see an exchange for Steem and SBD in India in the future!
If you are a Bitcoin user from India, my article on filing your returns on your Bitcoin profits will interest you a lot! Read it here!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- India Has The Highest Number of Facebook Users In The World—What Does It Mean For Steemit?
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Let's Talk—How Did you Discover Steemit.com?
This is just the beginning of history
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Ob Die Geschichte gut ausgeht ist Fraglich???
Es geht zu schnell!!
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This is exactly why the current Bitcoin Bubble is making the dot com bubble look small in comparison: Suddenly a whole new world of people are able to join in and invest from all around the globe, something that was not yet feasible years ago. Add the fact that the way into bitcoin is much easier for most than the way into stocks and boom there you go :)
Exciting times ahead as all this new money finds its way to different corners of the crypto-space!
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I agree! Times are changing and I hope mass adoption happens within a decade. :)
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The news of RBI warning Bitcoin looks like worked in favor.
More and more people have gained interest and are looking for ways to invest. I was travelling to the insides of Haryana over the weekend and someone in train asked if I've heard about Bitcoin. Quite amazed at first I shared the lil knowledge I've on topic. Hope the guy makes money and pass on few blessings
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Well , I experienced something similar in Jodhpur, Rajasthan.
A young tour guide was talking about the Bitcoin and it's rapid price hike.
It's amazing to see this change in the span of few months
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It's catching up really fast. Soon we would have to put option of Bitcoin accepted similar to Paytm ones
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Haha well said friend. In few day bitcoin will replace modi mania. Bitcoin mania.
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Gujju Bhai is smart just wish they don't do anything similar to what China did.
Initial collapse raised a few queries but then it picked quite well
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Je bekannter desto größer die Blase sollte sie Zerbrechen!´
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smart people, when the govt said dont buy gold they bought in bulk.
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I am really curious why and when would people file tax returns over bitcoin "profits" ? I am not in India, but this is on my mind when something like a centralized power is discussed. My view is that there is no profit made so there can't be a question of tax returns .. Would you file tax returns ?
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over 20 k I love it
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Central banks keep warning about what? 😂 given the recent crypto gains it’s pretty clear that nobody all around the world cares about banks anymore
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The dreams of abundance, prosperity and freedom for all are slowly but surely materializing! What a great time to be alive!
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After the launch of bitcoin futures, only foolish government will dare to ban Bitcoins..Indian government is very smart and will not to ban it.
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The power of the blockchain will always be here because this is the future. I heard that India will also be having its own crypto the same way china and japan did. It's called rupee.
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wow I envy you guys. You must be smiling when you had HODL many haha, btc is really unstoppable... hoping international exchanges follows too.
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its interesting but i listen 3 month ago btc banned in india @firepower
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there is no ban of any kind towards any crypto in India.
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I love the fact that Bitcoin is a worldwide currency in which everyone can participate. Hope they come barreling into Steemit, too!
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Very interesting read and good content. Thanks.
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in india what will rise the prize of bitcoin can you please explain it me ?
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India has an ancient civilization
This is just the beginning of history
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That's definitely good news.
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Everyday bitcoin is going up. Sooner it will hit the top of all businesses in worldwide. .. mater of time..
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Wow.. Very amazing...
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The great thing about Bitcoin getting so many new users is eventually many will know about Steem and buy into it with there BTC!
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India has been lagging slightly in Bitcoin adoption, after western nations it was China which quickly caught on and had taken a huge lead with mining. Now after China ban it was Japan and then Korea which took lead. Asian nations are charging in and now I hear that India is also not left behind.
I'm an Indian living in US for a long time now, so this is good to hear. India is doing pretty well right now and huge middle class has rising incomes and money available for investing and they should join and drive up Bitcoin revolution and adoption.
That said I had not heard much about Bitcoin from Indian friends and relatives until a month back as Bitcoin was racing towards 10k lot of people registering in Zebpay and with Billdesk also starting a new exchange, it does look like Indians are joining in big numbers.
Good post firepower! keep up the good work and keep us all informed about India
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13.5 lakhs was the buying rate on Zebpay sometime back:)
Good things are happening!
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Touched a high of 14 lakhs yesterday!
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Yes! So Awesome!
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Is it the new money fomo'ing into BTC+ETH + LTC before they discover hundreds of altcoins?
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good post regards from @mizi23 good luck always
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The news of RBI cautioning Bitcoin looks like worked in support.
An ever increasing number of individuals have picked up premium and are searching for approaches to contribute. I was flying out to the internal parts of Haryana throughout the end of the week and somebody in prepare inquired as to whether I've found out about Bitcoin. Very astounded at first I shared the lil learning I've on subject. Expectation the person profits and pass on couple of endowments
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Great to see. No matter how much FUD is out there by governments and banks BTC is still going strong. I would just like to see it funnel down to some of the alt coins soon
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Incredible India.....ye hai mera india...i dont know about .. i thought very few people know about crypto....by the way @firepower why dont you arrange steemit meet up in india...
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He has done so in the past
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I have and will be doing a few more next year. :)
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FOMO is strong in our country nevertheless public should be aware of this. As things like FRDI bill is on the news. We need to protect our money and have our control on it.
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That is huge increase because I checked before 2 days as it was 11 lakhs and now it's 14 lakhs almost so that is incredible.
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Nyc
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As some constructive advice, your "NYC" comment is considered spam by many in the community and it will hurt your reputation, thus making it harder for you to succeed on Steemit. I suggest that you don't ask for followers and also make relevant comments to show that you listened to/read the author's content, as to add value to the community.
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I think any Bitcoin HODLer should be celebrating. It amazes me how high it has gone and how fast. I hope it keeps going.
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bitcoin sooner or later will cost 20k worldwide ... I'm sure that the etherium will soon be more than 1k ... very high volatility, and very high profits
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In begining of 2018 btc price will be 25000 and so on. Its a matter of time only.
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Now only 1 % maybe has crypto, imagine when the rest of the hurtle bstart buying.. Someone will just buy apple and google and decentralize it.. lol
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Yes friend it is celebrating time for us. Despite the wornning from RBI, people are buying bitcoin in our country. Thanks for sharing the great post, I had already gone through your earlier posts. You are inspiring factor for Indians.Wish you a very happy time friend.
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What about the four forks in December. Will that be good or bad for BTC prices. Coming back to that, it was 11.5 lakh two days back. Touched a high of 14 lakhs yesterday. Some people made a HUGE fortune I am sure :)
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Go Crypto ! Go Steemit !!!! 2018 will be an interesting year. Looking forward for the awesomeness this all brings. :) yay
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True that! Looking forward to an even better year for crypto in 2018!
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henüz reklamdayız, film başlamadı. bitcoin 100 milyon $ olmasını bekliyorum.
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wow that is awesome i am going to cashout in 2 days from zebpay and hope till it up.
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Hope the trickle down effect equally impacts the value of Steem. What do you have to say about all the talks regarding the bubble scenario w.r.t bitcoin?
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Great news @firepower in india btc and STEEMIT user . Thanks for sharing
Namaste
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Interesting content. Getting to learn more
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Awesome news :) just the right motivation i needed at the start of my crypto trading! Only way is up. Thanks for sharing.
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Frankly saying, the upcoming year will be the year of trades, FUDs only. Media is devastatingly producing misleading content without having proper knowledge.
People must be aware of these internal informations to save themselves from FOMO.
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Great post and great information, @firepower . I have a query. If I want a bitcoin wallet, which is the best in the Indian context ?
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