8 Reasons Why India Needs Bitcoin

Is Bitcoin a good investment? What will bitcoin be worth in 2030? Can I buy Bitcoin for 1000 rupees? Can I convert Bitcoin to cash in India?

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Why India needs Bitcoin

Ravi Nishad recently wrote a brilliant article on 8 reasons why bitcoin is a great investment for India. While I cannot validate everything in his list, I agree with everything, except the whole political angle.

India needs bitcoin more than anything else right now. 1. Increase in GDP If the Indian government would agree to the idea of having one digital currency that could be used around the world and adopted by the masses, it would be a tremendous boost for economic growth. The cash crisis is not only affecting the growth of small businesses,

but also the economy as a whole. According to India’s national bank and research firm, the country’s gross domestic product declined by 2.7% in the first quarter of this year. The core reason for this is the low GDP caused by the cash crunch.

Why Bitcoin is a good investment?

Who can convert their Bitcoin into money? India’s capitalisation is about 25 Trillion Rupees. All these cryptocurrencies can buy different things ranging from land to homes, cars,

luxury properties to even fund charity. Here are 8 compelling reasons why India needs Bitcoin: #1 In India, a lot of low-income people own smartphones Source Even for something as basic as mobile phones, there are only a few sources of income. Here are the main Indian cellphone providers:

Airtel has the widest network (both CDMA and GSM), but it is almost like a monopoly Has the lowest selling price per unit Has the highest annual fee This makes a lot of sense when you are trying to maximise profits on the low-end. The new entrant Reliance Jio is looking to disrupt Airtel.

What will Bitcoin be worth in 2030?

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For too long, citizens and politicians have been asking the question ‘what’s bitcoin’s impact on Indian society?’ The hype has been huge and with good reason. Bitcoins are real money and they are traded within the entire world.

They can be bought, sold, stored, transferred, and spent. These are all things that you can’t do with physical currency, which is why governments around the world have been working hard to stop the spread of these currencies in hopes of halting the spread of free market economics and making way for their own.

In a country like India, which lacks in traditional banking and which is much more tech savvy than people realize, Bitcoin has the potential to be a game changer. Here are eight reasons why India needs Bitcoin: 1.

Can I buy Bitcoin for 1000 rupees?

I bought BTC and converted it to LTC. What are my tax implications? Can you invest in bitcoin in India? Can you invest in bitcoin in India? Let’s break down why bitcoin has such potential as a financial instrument for India. It Is Better for India Than Sovereign Bonds Sovereign bonds have poor interest rates. If you invest in a 10-year Indian government bond,

you would only earn 7.6% after adjusting for inflation (12.9% + 6.7% + 2.4%). In contrast, you could invest in Bitcoin (say through an exchange like Unocoin) and earn a healthy 18.4% interest, assuming the BTC price continues to appreciate over time.

Can I convert Bitcoin to cash in India?

How to buy Bitcoin in India Will bitcoin finally bring Indian cryptocurrency to life? The one question everyone asked me: “How can I invest in Bitcoin and ethereum in India?” After giving several long and detailed answers on multiple occasions (see video above),

I always fail to understand why Indian investors are not asking me how they can buy cryptocurrencies on an Indian exchange. If one is interested in investing in bitcoins, one should be asking these two questions first:

Where can I buy bitcoins in India? How can I convert bitcoins to cash in India? An Indian exchange like Unocoin is a fantastic place to buy bitcoins in India. One can also buy bitcoins in any major Indian cities on any exchange that allows one to do so. But what about the next steps?

Conclusion

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While India’s government is right in its decision to not allow Bitcoin and other digital currencies to exist within its borders, this decision does not mean that Bitcoin cannot be made available in India. There are a number of options that can be taken to bring Bitcoin to the Indian market. Currently, the most viable option for crypto users within the country is to buy Bitcoins on exchanges like Localbitcoins.

One can purchase Bitcoins from bitcoin exchanges like AmazonGDA, BrazilBitcoin and MultiCoin. These options will be accessible to the Indian citizens until the RBI finally decides to allow Bitcoin and other digital currencies to exist within its borders.